Dear Readers Limits for today:
QQQQQ 42.43 - 43.44
GLD 64.39 - 65.00
USO 51.11 - 51.76
GG 25.11 - 26.38
Things could Melt up as YEN goes Lower. watch out.
Smart thing to do is to stay above the high limits
with stops
Wathc the YEN, move up will casue melt down again.
move down will cause melt up of sorts. 10:38 ET
Possible bottom time today 12:00 - 12:40 PM ET
With perhaps temporary top in YEN.Good Trading
5 comments:
Boris,
These past few days have been interesting to watch with the effects of the unwinding of the YEN carry trade. Since Japan is under US influence, I wonder if the US govt has secretly met with the JP gov to ask the CB to intervene in the currency market to limit the upward rise of the YEN so the unwinding process would be more orderly. Or am I a paranoid conspiracist? Anyway, I'm sideline except for my shorts in the home builders.
Dear Rent, I can not prove or rule out the possibility of those discussions. I t should suffice for now that we can watch something. YEN.
GOod Trading
Boris, do you trade currencies also?
hi boris do u have any comments on the closing of the gap between the 2 yr yield and the 10 yrs.
also the sharp drop in gold its the first time gold as far i rembmer is not a hedge or flight to saftey. it has linked to equity markets movements.
i wish u a wonderful weekend and thank u for ur patience.
Dear Samc, sorry being late to read your comments. Trading is hectic these days. I think the narrowning of rates means that we are going into a slodown or outrigth recession in 3-7 months.
You are correct about the safe have not being in gold. The reason is that it/GOLD was as much of a receipient of the carry-trade as anything else REIT/STOCKS/METALS etc.
I wish you nice weekend as well my friend.
Good Trading
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