This market is fucked up, everybody knows is, but as long as the gravy train is rolling, where else to get a return?
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It's not "weak" economic data. Almost every piece of data for the last 3 months has been super positive. The only question really is how that translates into stock valuations and when. I noted this many months ago as a reason I remained heavily bullish in commodity related stocks. Because inflation is good for them, and the stated intention was to raise inflation. Only part of it that didn't work was the Gold miners but that trade may wake up soon ( some of them are moving up but the majority aren't yet ).
Tough to make money in these daily ranges. Not hard at all in the overnight trading. Buy the cash close sell the cash open. Then play some golf, while the suckers fight over crumbs.
Except last night's eMini Globex open to high range was 8.50 pts meanwhile today's RTH open to today's low range (so far) is 13.25 pts Oh forgot some are long only "traders".