Dear Danno, My targets are unchanged 700-730 ( almost reached 700) or 900 if former broken. Timing wise I thought 28/2 of 5/3 were my targets. It could still happen, but it could be ugly the way it gets to 700-730 within next 5 days. I would prefer a scenario of another sharp drop to 655-665 level and then 730-900 into end of March. Good Trading
I am leaning towards your preferred scenario only because I see different trading disciplines arrive at same hypothesis. We shall see however and I will keep an open mind and finger on the trigger.
congrats again on your call about the DOW. Spot on! I'm watching now. I got burned on USG but fortunately I have other short positions to offset this one loss.
Dear Rent, everything is possible in this disfunctional world. I was certainly on the lookout of all markets collapsing. Even Gold I said could crash for couple days. Frankly this all started to come into focus couple weeks ago when I have abandoned the temporary Strong Dollar theory and went with the currency rally, especially JPY. And that has meant the "carry out the carry trade" . That is what you see at this point. Goond Trading.
I take it you suspect the Yen to rally and the unwinding of the carry to carry out several days. Is this why you think the DOW will decline in the next 2-3 days?
The stock market in China looks like a bubble ready to collapse and maybe it has started already. Do you think thiw will continue to put pressure on the Dow and possibly put upward pressure long term interest rates?
Dear Rent, you know that I live day by day once the moves start. Yes, I expect at least couple days of route, but considering the level of drubbing today it may be only one... who knows. But I will only be able to tell this by watching daily limits, and so will you... ( : : ). Just look at "limits" everyday. China - bubble. Yes I wroute about this in my safehaven.com article "China Stops Here". Frankly there is very little we can add to what I said in that article. Good Trading Dear Rent.
13 comments:
Hi Boris.
Well GLD made a new high today so perhaps that might be the top daily and eventually weekly for the next 2 weeks.
What do you think??
TIA
Danno.
Dear Danno,
My targets are unchanged 700-730 ( almost reached 700) or 900 if former broken. Timing wise I thought 28/2 of 5/3 were my targets. It could still happen, but it could be ugly the way it gets to 700-730 within next 5 days.
I would prefer a scenario of another sharp drop to 655-665 level and then 730-900 into end of March.
Good Trading
I am leaning towards your preferred scenario only because I see different trading disciplines arrive at same hypothesis. We shall see however and I will keep an open mind and finger on the trigger.
Thanks
Danno.
Dear Danno, Thanks and Good Luck.
and Good Trading
boris,
congrats again on your call about the DOW. Spot on! I'm watching now. I got burned on USG but fortunately I have other short positions to offset this one loss.
Dear Boris, those EEMPC (EEM APR 115 PUTS for 3.30-3.70) are sweet and in the bank at 7.70! Should I have waited more???
Dear Rent enjoy Thanks and enjoy your positions.
Good Trading.
Dear Aaaaaaum, Enjoy the Pprofits. Yes declines last at least 2-3 days. Good Trading.
boris,
any idea how the dow can drop 200 points in a few seconds? Who is selling to cause it go down so fast? thoughts?
Dear Rent, everything is possible in this disfunctional world. I was certainly on the lookout of all markets collapsing. Even Gold I said could crash for couple days. Frankly this all started to come into focus couple weeks ago when I have abandoned the temporary Strong Dollar theory and went with the currency rally, especially JPY. And that has meant the "carry out the carry trade" . That is what you see at this point.
Goond Trading.
Boris,
I take it you suspect the Yen to rally and the unwinding of the carry to carry out several days. Is this why you think the DOW will decline in the next 2-3 days?
The stock market in China looks like a bubble ready to collapse and maybe it has started already. Do you think thiw will continue to put pressure on the Dow and possibly put upward pressure long term interest rates?
Dear Rent, you know that I live day by day once the moves start. Yes, I expect at least couple days of route, but considering the level of drubbing today it may be only one... who knows. But I will only be able to tell this by watching daily limits, and so will you... ( : : ). Just look at "limits" everyday. China - bubble. Yes I wroute about this in my safehaven.com article "China Stops Here". Frankly there is very little we can add to what I said in that article. Good Trading Dear Rent.
Thanks Boris. I'll look for that article you mentioned on Safehaven. Good trading to you!
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