The buying is almost nonexistent at this
time, the markets are moving on inertia,
which can not be ignored. See graph below.
So, give it a time to show signs of weakness
before selling the indices. You know market
needs 1-4 days to work this condition off.
Then another rally... if that rally is weak then
we can think of the top at hand, which
for now could be moving out to Nov23-Dec12
period. With the market having another 3-7%
upside. Why am I not wildly bullish,
because I do not live for 3-7% potential.
We are close to being profitably stopped out of
remaining GOLD/XAU positions and OIL
stocks. So be it, take the profits and move on.
The long EURO, short dollar position must
have stopped with a small profit as well.
Long portfolio, no changes. Trusts are recovering
nicely and pipelines are delivering the profits.
click on the picture to enlarge.
Good Trading
4 comments:
Thanks for your blog. I am new to this but have been investing for many years. Recently I have been doing some short term trading. Keep up the good work. This is the first time I have ever responded in this way.
Thanks
Thanks HillBilly.
This is what I do for living
and entertainment.
I am growing as a professional
and would welcome anybody
to participate in this growth
with me. Enjoy it.
Regards,
Boris,
Stumbled onto your blog-it is succinct, sometimes seems cryptic, but is likeably straight forward. Thanks so much for sharing what is significant in depth understanding and knowledge of markets.
What about chances of eventually taking a short goog to the bank?
Look forward to more insight.
Dmak,
I have no problem, but right
price may be 550 or so.
Or market just dives and take GOOG
with it never giving a chance to
go there.
Regards,
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