Dear Readers, Markets just as yesterday, but even closer to the target prices and days. Sentiment ( put/cal ratio) is approaching the turning point, but still not where I would love it to be and QQQQ still has 2% to go to 48.xx. Pressure Gages, while indicating sell, not extreme yet. We could go down from here, but I prefer more perfect alignment of stars.
Fixing the $ secondary bottom date at 23 +-3 trading days.
Good Trading
9 comments:
Hi Boris,
Good call on the currencies. I got short on the AUD/USD and EUR/USD a few days ago.
Reckon we'll touch ~1550 on the SPX?
Dear Jebuskrite, welcome back. Yes, while many advisors gurus are writing volumes about currencies, we simply said "see $ sink in May" that is it. The same is shaping up for SPX,QQQQ and all.
Good Trading
Well, these numbers just pay put the gages into overdrive.
Dear John, what do you mean. Thanks and Good Trading
Hi Boris. Good to have you back. The job number came in at 88K and the futures zoomed up. The market took it as positive, but any news is taken as positive right now. 88K is bad, it shows the economy is slowing.
I was talking about the employment report...88k...not too hot not too cold...SPY and QQQQ jumped on the news.
Good luck
Dear Sqroot, John, your comments regarding these numbers are accurate. The market takes everything as good news as it goes up and we "new" for months now that we will be going up into MAY.
Good Trading
Aww bugger, just got stopped out of my long USD positions.
Any changes on your mid May turn dates yet Boris, or are you sticking to your guns?
Dear Jebuskrite, there is no change at all. We maintained that there is going to be double top. One that was outlined for late April early May and the other one later in May. This has been repeatedly stated here for more than a month. Now, that simply means that the initial correction may or may not be done. I believe it will be done when GBP fell under 1.98, but it is possible that we are done with initial correction, which may repeate next week and then highs into the week after 23 +-3 days as stated in this POST. Dear Jebuskrite you being stopped is what the currency markets work hard on every time these numbers come out. That is why you must stay above these "fluctiations" and take an intermediate look, which means you would stay short and/or short only after the date above.
I have positions too, but I have become neutral before the numbers, now I may lift them after the quiet time.
Good Trading Dear Jebskrite.
Post a Comment