Blogging down due to personal issues

Fund performance: -11.636%
Active trades: Still short EURAUD, short EURGBP and long GBPCHF.

Personal issues and the market volatility have taken their toll on MCFX. It's been nearly a week since our last update and we fear the week ahead will also provide only limited time for blogging. The fund is doing fairly poorly so far. We have tried to play several overall themes:
1. Looking for a bear-market rally; a significant one. We still believe in this theme and in fact, in our full-time capacity, were vocally calling for the turn on Friday afternoon. We await for Monday's price-action to confirm this bounce as all previous attempts have fizzled out very quickly. But we are enthusiastic about jumping on this trend when it comes. However, so far, this idea has been the source of most of our pain. Wall Street is littered with the bodies of those who have been too early in their thinking. We have tried to be too clever.
2. GBP has sold off too much. We have got this on through short EURGBP and long GBPCHF and still like these trades. We got stopped out of our long GBPJPY trade twice! Frustrating. Our mistake here was pre-empting the end to the JPY strengthening trend as opposed to any problems with our GBP view.
3. As mentioned above, we think JPY strengthening is coming to an end. We are aware that deleveraging periods will continue to support it but between Japan's enduring economic struggles and the risk of MoF intervention, we think it will not go significantly further from here.
4. USD should strengthen. This view was correct but we never got it on. We now fear that if the USD backs up enough to put on the trade, then something may have changed - but for now, we still believe that the USD will strengthen significantly this year.
4. EUR will collapse at some point this year. We have this on through short EURAUD (possibly a hasty trade) and short EURGBP.

Sorry for the lack of originality / humour / anecdotes in the last few posts - due to external issues, we have been emotionally drained. The enthusiasm shall soon return!

Good luck!