Yes I still own it. Just think if it falls back to the low single digits that would put oil probably below 30 which would then mean no demand for oil because of a massive slowdown in the global markets which would then mean a great recession. ...you keep thinking the world is booming yet commodities are in a bear market.
Futures lower again. Dow futures off 50+ points on Asia markets opening. . . Tomorrow could be really nasty if someone doesn't prop up the futures tonight. S&p very close to August 24th lows!!!!!
yea, if aug 24 low is tested overnight it will probably fall without much struggle. If it was tested earlier today they might have fought it back for a while.
The Dow is a bit further away from its August 24 low then the s$p is....and the Nasdaq has a lot more to go before it's August 24th low so it should make for an interesting week...I think if the biotech stages a comeback that could lift all markets tomorrow... I went long some LABU on anticipation of that happening this week.
I doubt the Dow tests aug 24 for a while. They will probably try to keep it looking better than the rest for as long as they can. yea, I did start to nibble on some biotech. They are starting to look over sold short term. If fact, as we swoon lower those ETFs that you have been mentioning look to be quite good quick trades...your are right there is some amazing upside when those bounce. They are like options without having to pay the large IV right now. Those fly under the radar which is also very good. LABU very interesting right here..verry. You also post real-time trades which many traders, that run on and on in talk, are reluctant to do. Posting real time trades separates the men from the boys. Since noddyboy is not here right now I might as well say it. "Did I mention how awesome you are?" by the way I wonder where he is. He is missing some good action!
out of copper at 2232 and 2341, but still have quarter left of position left out of all cad dollar fut at 7451
ES trying to bounce here, london talking the miners back up a bit. I guess after yesterday copper was due for a bit of a bounce. I was short AUD/USD cross during Asian session and am now riding a bounce in that
shortly copper may tap the underside of that 2270 base that it tried to make yesterday. If it does I would think it would not break through it. haven't got much sleep as I wanted to ride something back up as we headed into the london session. canadian dollar not bouncing like the aussie. I guess cuz they hold oil and market not expecting oil to move much today. last week it bounced nicely off that 7451 point you mentioned