Dear Readers, Not a lot is new, markets are in a very very narrow ranges. And a breakout out of there will be the direction they will take for next few weeks. I for one to not think the upside potential is high and will be very careful with longs, just as I am with shorts. OUR PRESSURE indicators have kept us out of the market for last 2 months, Even floor traders are complaining that they are not making money in these markets. So far so good. GOLD is giving mixed signals here, but if new highs are not made before 13-15 Feb, we have to reconsider the fast rise now. That does not mean collapse either, but perhaps some pullback to 630 area towards the end of FEB. Our readers will remember the vulnerability of gold to these dates, we pronounced numerous times, last 3months, before. Energy will probably will follow similar pattern. EURO and BONDS, I still expect them to go down towards March. Unless they make a quick and strong gains next 2-3 days.
Good Trading
3 comments:
Dear Readres, THose who follow my writing know my first rule of trading. "Do Not Lose Money". That is very simple. We kept doing that for last 2months of standstill in QQQQ and 2-3% rise in SPX, that would have been good, but we actully had trades in between which had made us more than 3% that is even better. That is why we like our indicators, they help us "see" in the darkness. Good Trading
Hi Boris,
What did I just see in GG ??
A spike to over $30 ? What caused that?
Thanks
Danno
Dear Danno,
That is a bad print. And GOld seems to be doing what it was supposed to do, go up, but it has this sickness, it will not go up wihout first going down(: :).
I am not long today in futuers, but I am sort of with covered options.
Good Trading
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