Mav, I finished "inside the house of money" really made me think about a lot of things.. Alot of really gangster trader interviews.. They might not give you the expression these traders are using to execute their methods.. But you can catch clues as to the way they think about markets.. I remember one guy kept reiterating.. Its all about liquidity liquidity liquidity.. I like it..
Gold finally re-set on my 30 day and we are brushing up against the monthly A up for Jan around this 1250 level. Silver already re-set for me over a week back. Natty bounced off the QTR A down around 4.00. Bond re-set about a month ago and confirmed a monthly A up last week but heading into the QTR A up now. Oil wicked off the QTR A down but still below the monthly A down. Upside for the spoos is 1862 t0 1865. The first is the monthly level and 2nd is the QTR level.
One lousy NFP and suddenly we are seeing movements in several currencies. Do you see a pattern here Mav?
I saw a nice pattern in natty gas. Once the number lines re-set in the yen crosses the tail winds stopped.
I noticed the Aussie strengthening as well, so I was wondering about the connection. Yen should weaken again at some point, but as usual we need a signal first because there's some interesting stuff going on in Japan and heaven knows how that will impact the Nikkei and Yen. Do you typically hold positions through NFP?
Sure, if I had a trade on and it was in the black. Most of the FX stuff went into chop mode before the jobs number. It might be awhile before the yen stuff moves again. You need to find the next play. Don't keep going back to the same well. We had confirms for a long time and we had really large moves. Now all the latecomers will try to dip it. It will be a messy trade. The Aussie crosses started heating up a few weeks back. No coincidence that metals are firming up now with the strength in the Aussie.