5th touch on cash daily megaphone. We either break out or head down to bottom of pattern. If we break nice 300 pt measured move coming. If we fail post Brexit low will be taken out. Bond market not doing crap right now so hard to believe we will break.
How to catch a hypocrite 101: Wow, what a repulsive attitude you have! So a week or so ago you bitched at me for criticizing B1S2 for the exact same type of bad trading what you had criticized him 6 weeks earlier. That is an A+ in Hipocrisy my friend! Congrats!!! The reason I actually found your pearl was because out of boredom and curiosity I clicked through the thread and did a little accounting. Now the posting isn't always crystal clear so I might have made a mistake, but here it is up to date: Long term swing trades: -92 points Daytrades: +62 points There was an early swing short trade that went +140 points in the money but I couldn't find where he exited and the market rallied back and he was holding for more than 150 pts gains, so I treated it as a breakeven trade. Any clarification is welcomed on that trade... Since this current trade also went almost 100 pts in the money and currently about -30 points in the red, I think the obvious conclusion for B1S2 is to give up the long term position trading nonsense and stick to daytrading. Not to mention last year for a good 10 months the market was in a 130 pts range, so using his 150 or more attitude no trades would have been closed...
You are mistaken, I agree in principle, but the way you wrote it was extremely demeaning and disrespectful and that is why I commented on how you addressed B1S2. Look at how I commented vs your post, night and day.
The lows on 6/27 and the "thrust" off of those lows resembles last February and last October...I believe that there was alot of hesitation to go long based on the strength in gold and bonds, but this is just another strange offshoot of a ZIRP, NIRP world...
Yes we keep hearing that gold is up because there is uncertainty and the markets are down. But it defies what is happening. Also, earlier this year gold and the euro appeared to be correlated, but that seems to have changed. To this trader it certainly looks like a bull market in stocks, riding a nice wall of worry. And it seems as though a market which seems a little irrational will get even more so. If it flies in the face of what everyone is comfortable with, it's probably due to continue.
Yes, good observations about the appearance and disappearance of correlations...It's a very long list at this point...We could also look at the dollar-yen, the crude oil correlation, etc, etc...