Look at the "PRESSURE" chart below.
The market has cornered itself.
Few choices here...
1) Last gasp higher, deeper eventual
downturn(cross of cyan by red line ).
2) Or immediate dive
Not waiting for any of this, our pride,
the symbol of Americas strength, $Dollar,
has taken the historic beating lately.
What a present to fellow brothers Americans,
by inapt "managers" of our economy/country.
That, by the way, includes both Dems/Reps.
So Ironic, on this day of celebration of freedom
from EUROPE, the $dollar tanks.
Thank god, we are out/or short stocks+$dollar,
long OILS/GOLD and fully long EURO...
9 comments:
Hope all had a good holiday. Im not shorting this gap down. Only if it closes. This screws my plan up. Best James C.
Hi James,
Good move not to short the gap down. Soon there will be a chance to go short on 61/80 or 100% retracement of the gap. Frankly,
Market may use the weak Dollar as a reason to rally?!
The sure thing to have done though was to go long EURO as we suggested weeks ago. No worry,
the QQQQ short is coming just hang on a little.
Regards
Boris nice trade on Euro. I only trade indecie and some ETF. You are right weak $ does mark down US assets but Im not sure how a sudden collapse would play out. James C.
Dear James,
FXE , you know the ETF
FXE is your guy, a bit late, but
we may get another low risk entry
I will advice.
Regards,
Thanks Boris I will watch it. Pretty complacent this morning with that drop. CPCE volume dropped from .64 wed. to .55 at the open. I need to see the next 1/2 hour reading. James C.
I opened the puts on the gap close. But I got a reading of 9.75 CPC volume. Which must be an error or someone knows something BIG is coming. James C
INteresting reading indeed
Here is a chart I watch for longer term. It self explains...I think...calling for a good correction. The CPC was an error it is actually around 1. Although CPCE is in the pullback zone -.55. Also Fed withdrew 9.5B today. Dollar ending the party? http://stockcharts.com/h-sc/ui?c=$cpc,uu[w,a]wallyyay[pb13!f][vc60][iut!ub14!la12,26,9] Best James C
Thanks for info James.
I follow the same info by downloading the CBOE info into my wave59 program and charing the averages I like 21/69.
Fed giveth/Fed taketh ha...
Regards,
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