Thursday, August 09, 2007

One of the Twin Evil Systers



Dear Readers, one of the TWIN EVIL SISTERS, JPY is on the rampage again and eating everything on its way. What do you expect, people must be scared somehow ant this is one way. GOLD as expected weak and Currencies, Except JPY/CHF weak. Stocks Weak. Yes the carry-trade Dear Readers. This shell pass by next Monday/Tuesday at most. Sell Pressure Was High, especially for NASDAQ.
Good Trading

8 comments:

Greenie said...

Boris, I am short the indices. Should I stay short after this mornings open, or take profit/go long? You mentioned high sell pressure, but that does not work until three days, right?

Greenie said...

"This shell pass by next Monday/Tuesday at most." - Do you mean, stocks will put in a secondary bottom and more rallies will resume?

Lightman said...

Hi Boris
Not sure what your outlook is on gold right here. I know you called for current weakness but wasn't sure if you saw a rally later in August.
Thanks
Howard

boris said...

Dear Greenie, I expect the JPY to turn around and markets turn around. Can not guarantee... Of course.

Also Yes it should have taken some time to work of the overbought condition, but we are now in a more emotional setting and things could happend faster.

I am not smart all the time. But since you ask now, I would take some or all profits and see the limits, if you can work longs, which I am have done whilie ago

Good Trading

boris said...

Dear H, Yes you are right the weakness should last 10-13 August and then higher as per our conversations wiht MR DXB.

Good Trading

boris said...

Dear Readers, Remember, I could be wrong, Especially, when I am asked instant question. I do not know all... Please understand. I am as usual mortal as you are, and that is why I love you. That is also why I could be wrong...

I only know markets at infliction points after that I am almost as lost as you are.

Good Trading

Sqroot said...

Morning Boris, everyone. My guess is Boris is right, we bounce off 1470ish. Maybe break thru 1500 again. Wow, just looked at the futures again - 1477, that would make cash already at 1470 - maybe we do hit the support I mentioned yesterday 1462.

Jim Taylor, JD said...

Hi Boris,

Short at 13689 yesterday (117 sq)

C WAVE, as in CRASH, now triggered.

Projected LOW at 200MA=12806 or 12769=113 sq.

Jim