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Hi Patch,

Yeah, we were fully long Thursday afternoon. Boss and I had a good chat, and we saw more downside ('out' vote), around 10% on the German DAX, for example, and maybe +3-5% upside for an 'in', so around 5pm we went completely flat the indices. If you look at the last 2-3 hours on Thursday night, market was definitely seeing a 90% 'in' vote, DAX rallied over 1%.

But at the open, it did indeed gap 10%, July Spanish IBEX futures were down 16.7% on the open gap!

I kept long August Gold, but also small longs in Gasoline and Heating Oil. But also remained small, 50% size in short German Bunds and French OATs. So the one winner there, gold, covered the losses in the others. So to come out after some very short term intra-day trades yesterday, around +0.05%, that's a great win for us. I got out of most of the gold around 6am my time, from 1350-1360, so feel very happy with that.

I thnk this upcoming week will see who realy got slaughtered, and the big margin calls. Interesting that the far-right Dutch MP called for a Netherland referendum almost immediately upon hearing of the UK result. This will be pure carnage if Spanxit, Italexit, etc., gain some momentum.

Hope you guys and gals kept your noses clean yesterday.

The summer should be very colourful indeed. :)
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