I feel rather conflicted about the price action over the past month and quite frankly that’s exactly how I should feel and thus act accordingly. Just take a look at a daily E-Mini chart and compare the March contract (ESH7) with the current front month (ESM7) and tell me what you see.
After an extremely profitable first quarter I think most of you would agree that I have more than earned myself a little vacation. And boy do I need one as I have been feeling myself running on depleting reserves over the past few weeks. Yes, even the Mole is only human (sort of). Also, beyond the polished facade and daily evil deeds there had been a lot happening behind the scenes, some of which I have no doubt Scott will be talking about as he’ll be filling in during my two week absence. And may I just say – are you in for a rare treat ladies and leeches!
No matter where you stand politically and what you may think of President Donald Trump, you’ve got to admit that he’s a pure breed optimist. And just maybe, despite all the media poison and the political infighting, it is that very sense of good old fashioned American can-do optimism that continues to fuel the flames of the Saturn V mega rocket that has propelled equity markets to all time highs with apparently no end in sight.
It is Friedrich Nietzsche who we attribute to having said that ‘the higher we soar, the smaller we appear to those who cannot fly.’ He actually went on to coin several other flight related quotes, but as ole’ Friedrich kicked the bucket in late 1900 I doubt that he actually ever boarded anything resembling a real aircraft. Because had he done that he would invariably have rephrased it to ‘the higher we soar, the smaller appear the ones [on the ground] who cannot fly.’
Clearly and rather understandably being a product of his time Nietzsche contemplated flight from the perspective of an earth bound observer. Because I can tell you from [...]