Your negative bias is showing. The vast majority of economic news the last 2-3 months has been extremely positive. GDP up 6-10% has exceeded expectations. If you think the economic story is weak eventually you need confirmation of that and right now the economy is growing rapidly out of the depths of a Covid induced recession.
Really? I was long this week, and trading for a bounce, which I unfortunately exited too early (with a profit). Weren't you the one grateful to be down just 1%, this week? Gotta be flexible... I no longer pay attention to economic numbers, at all. It's no longer my concern. I am just trading the ranges, because I am a trader. I don't have a negative bias, nor a positive one. I am just here to make money, consistently. Have fun reading economic news!!! Especially the money supply data. My bad, they "discontinued" releasing those figures...
When you post that a multi-year high got set and that an economic number was "dismal" that screams extreme negative bias.
That's what I thought, coming into Tuesday, but I saw a clear long opportunity, regardless of the economic numbers (I am a trader). That's the moment I realized that the Economic Calendar was making me biased. All I need is to follow my strategy; there is no need for economic numbers in my trading. Ever... Think of Economic Numbers as the Oreo Cookies for this guy: Once I spotted that, they are gone, like the Oreo cookies. Once you have a consistently winning strategy, there is no need for economic numbers, or Oreo Cookies... PS. Never be happy about a loss. "Rollercoaster this week but pretty happy to be down 1% on the week"
Anticipated commodity stock rally is on. Nat Gas crushed $3; stocks a little slow to react but they will. Gold/Silver broke recent highs and this time the stocks are responding. Oil at $66 can't be bad. Copper flat for now. I am in particular interested in Silver and Nat Gas, with a side interest on whether Copper will bottom out and join the move at some point.
Kinross up 6%, Endeavour Silver up 10%. I'm also liking CXB ( Calibre ), MAG Silver, New Gold, maybe Eldorado Gold today. I took a flyer a few weeks ago on junior silver play BCM ( was losing significant money on it but it's recovered 100%; potential break out candidate if it can rise above $2.06 ). Nat Gas plays Birchcliff and Arc Resources curiously only up a touch on a really strong day for Nat Gas itself. I suspect interest will come. Junior Crew Energy has been stronger today. I like Silver miners to be best profit opp from here and possibly a late day breakout in the Nat Gas stocks. Gold miners are a steadier less ambitious play rest of today. Okay now Oil is making a move; unclear if I should sell anything at this point to buy some MAG Silver.