We got over that odd concept that we should give our enemies a rest on one of the many muslim holiday seasons. Recall how well the islamics respected the Jewish Seder meal.
I knew someone was going to catch me on that; tried to edit post to show "new" moon, but didn't get to it in time. By the way yes I admit I have in my early days of trading been long when I wanted to be short or vice-versa. Learned that lesson pretty quick. Thanks for the heads up.
Dangerous times are upon us. We are in the midst of a secular bear market at a juncture where the stock market can soar 10% in one day if Saddam is removed from power. AFAIK, the current environment is without precedent in the history of the stock market. I have cut on my size and use options more than ever before to define my risk.
I to need to do that. How do you then recognize when a market will be chppy , thus taking ealry profit or with nice smooth trends that lead to using trailing stops. Trailing stops dont work in choppy markets as you say and most of the time take a good trake and turn it into a looser. On the other hand when there are nice smooth curves a 5 to 8 pt trade is not out of the question.. If you have any idea ,please let me know. thanks
gold has other longer term factors in favor of it. Gold is in a consolidation phase right now that it isn't quite finished with yet, so I'm not long right now. I am looking to get a good price on some low dollar unhedged gold stocks however. BGO, CBJ, MNG, VGZ, DROOY
What's up with 10-yr, dollar today? With crude down? Something else on the radar that ppl aren't looking at presently?
Like man possessed by some demon I made a non-system trade on Friday and shorted some 10-yr TN calls... I think today the biggest drop in spending in 13 years on durable goods which fell 5.7% is rattling people. It has been a consumer driven economy, w/ consumer sentiment near record lows could we head back into a recession?? It also appears with Turkey backing out and the evil one destroying some missiles this may push the war back some, more uncertainty. If US is not able to secure a resolution at the UN, what then? do we go in alone, would we get stuck with the entire bill for war? With 200K troops in the dessert and summer heat just six weeks away, what do we do? Late last week, I did cut my trading size in 1/2. However waiting to see how the events unfold to put on my volatility option positions.
Judging from the news this morning, it appears that the initial war euphoria maybe fading off. The very unfortunate shooting of the British plane, along with the US soldier going nuts is bringing home that the easy part of the war maybe over. Our only hope now is that one of our bombs finds Saddam or he goes into exile. I don't know if we are ready to see US forces go into Baghdad next week with the Saddam and his republic guard still around. How will be balance not hurting civilians within the city and still killing Iraqi military? I think next week has all the makings of a very volatile week, with rumors of chemical weapons being used and the evil one being killed. I am still trading 1/4 of my usual position.