Dear Readers, see the buy pressure out of sight and sell pressure in the basement, there is first time for everything. OK those that are short in this market can try and collect at the bottom of today's "limit" range ( posts later) or just tail the stop above those points if attempting to retain the short positions. This decline may be short lived as there is a possibility of new top in Apr/June period. Gold may look for a bottom around 5/6 March. Currencies as well. Ditto energies. Longer term picture calls for GOLD higher into end of March, less so with silver and energies. Currencies higher also into the April and JPY stronger than anything else. I am not at very bullish on GOLD/ENERGY stocks. Just the "real thing". Good Trading
3 comments:
hi Boris this is Sam, regarding todays comments. just wanted to understand is this a bull trap? stay away from shorts?
Dear Samc,
Yes, after 5% drop it is hard to expect repeate performance. While we can go lower in coming days, it is not guaranteed that this is a top, though it could be. My expectation is that we can still go for a top May/June. Also the Buy pressure is extremememememe... So, we could only expect a rebound at this point. We will see what happens later. Short answer you question is... Yes, highly probably this is a bear trap.
Good Trading
thank u Boris just if u can if it possible the huge jump on ur buy stregnth was it at end of the day or was it done evenly during the day? well bear trap from ur indictors we are in a very strong bull market my point was that any weakness is not much of a shorting oppertunity.
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