Im long from 1328 as per the ES live calls thread. Hoping we can get a few weeks of strong rallying from this level. Anyone who thought we had turned/topped after that recent downside blip has rocks for brains, lol! long is the only option
U.S. major corporations reaping overseas profits causing a disconnect between U.S. economy and stock market? Interesting. The dollar will be key. How long can U.S. bond yields, and U.S. interest rates stay low? I suppose as long as U.S. creditors will allow. But how long will that be? Curiously the the two sectors causing the damage, medical and military, are not being touched as far as cost cutting goes. The talk is all about shifting the burden for ever higher medical costs, but nothing serious about reducing those costs, and military cuts off limits. Somehow I don't think cutting the National Endowment for the Arts and Public Radio is going to be effective. As a trader, I have no choice but to go with the flow, so still long for now. A little nervous though, until i get a clearer picture of where the dollar is headed. I'm terrible at predicting the future beyond the next hour or so.
Clearly those very choppy mixed signals yesterday turned out to be bullish after all. This recurring DOW/SP500 buying support and USD suppression can not last forever though and when it is eventually overpowered by selling pressure the result may be another WATERFALL CRASH. The ultimate leading indicator ... 'COPPER has ignored the recent equity bounce. Daily and weekly are not bullish' ~ March 31, 2011.
Of for god's sake, give it up. Your calls on the market and the recommended trades have been brutally bad. There will be no "Crash" in 2011, as I posted summer 2010. The worst thing about you is you've been trotting out the same series of LOSING trades for over 8 months now. You don't seem to have a clue where your analysis is off. I do hope you'll someday discover the concepts of trend analysis and seasonality. And I do hope there isn't anyone out there following your advice, because to do so would invite financial ruin with any size.
<em>'COPPER has ignored the recent equity bounce. Daily and weekly are not bullish' ~ March 31, 2011</em> The weekly chart of the ultimate leading indicator has been tracking sideways throughout this year. This is not bullish and suggestive of what lies ahead.
It seems the intervention has resulted in a possible rising wedge for the EURUSD weekly. This is a bearish pattern when confirmed. --------------------- Trolls on ignore: Nine_Ender luisHK ---------------------
Well Copper. Correct me if I'm wrong but isn't the number one use wire and PC boards. In spite of the depressed building market in the USA (a big country and a big market to be sure) wouldn't growing demand in other big countries like China, India, Brazil, etc. put upward pressure on prices. So this raises the question, and forgive me because I don't follow copper as I should, are we looking at something temporary, as we were in the case of the oil swoon, while overheated markets correct and supply comes into balance with demand, or is this copper really a reliable harbinger, as you say, of what lies ahead. I'm a bit skeptical, thinking more in line with this being a buying opportunity for copper.
When DOW/S&P500 correction gathers momentum, I expect: UP ~ USD, various USDXXX currencies, VIX Index DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like COPPER etc, CRUDE OIL. --------------------- Trolls on ignore: Nine_Ender luisHK ---------------------