What goes [straight] up must eventually go down. However when exactly a symbol which has turned exponential runs out of fuel is the more important question. Once emotions reign high all bets are off – or in this case all bids are on. You may recall that I was pointing at gold the other day and suggesting that we may see another wild push to the upside.
Which is exactly what we got and I’m pretty glad I got out of my short position at break/even. We are now seeing an obligatory pullback but medium term this thing may have legs.
Just FYI – the P&F claims that we met the bullish price objective. However I wouldn’t really think [...]
And once again overnight things have turned from ugly to worse. In accordance to the growing pattern of countering NYSE buying interest with systematic overnight sell offs the spoos are currently choreographing the devil’s dance merely a handful of handles above the pivotal ES 1800 mark. After Chairwoman Yellen yesterday squashed any remaining vestiges of hope that negative interest rates may be on the horizon it seems that any remaining buying interest is now abandoning ship as evidence by exponential candles in the perceived save havens of gold and bonds. EUR crosses are exploding higher as well with the EUR/USD now piling for the 1.14 mark.
Given that everyone [...]
Apparently I am losing out on ill-gotten gains due to not hanging loose enough. As your venerable deacon of market domination congregating our esteemed flock of trading disciples I have been preaching the gospel of prosperity during days of darkness. And I quote:
Mole 2016-6: Double your stop and half your exposure.
Clearly I was spot on in theory but putting my own words into action proved to be difficult in the context of my new Discretionary campaign which I had developed a few weeks ago. In the past I used to manually place and then manage my campaigns and after more than a decade of participating in this racket I’ve become pretty good at assessing the [...]