Thank god for flexibility

Fund performance: -5.146%
Open positions still the same: Short EURAUD, short EURGBP and long GBPCHF. MtM +1.5%

They say flexibility in your opinion is important in a trader. Well this time it certainly served us well. With SPX 2.5% lower than where we cut out last night (and still looking heavy), we saved ourselves over 3% by quickly changing our mind.

We will look to re-instate longs in the equity market in the near future but there is no rush. We are out tonight and will reassess in the morning. All our currency positions still working and it will soon be time to both add to our GBP positions while tightening up the original stops.

Good luck!