2be said:
Flag on 15 min cable, waiting for a sustained brake either way.
Cable looks very bullish at the mo with Price and MAs all crossing to the upside. Bit dissapointed I didn't jump in at the 1.9220 level wanting it to touch 1.92 but at least I have my mental sanity and the same old money in my pocket :|
Given the release of stats and turmoil in markets, todays play is for the real hard core traders. I'm afraid of the volatility of seismic moves and so I watch listen and learn.
If the Dow doesn't hold 12000-12100 level then it will sink lower along with SPX.
1. Sinking indeces likely to strengthen $ imo. Less trade less dollars.
2. Inflationary pressures likely to sink $ too. But interest rate expectations raise value of $.
3. Gold seems to be up around 650 from 640 levels again which bodes well for inflationary pressures and $ to fall further.
I would guess the Fed is like a little soft white rabbit in front of a juggernaut with its full beam on. Which way will it turn:
a) left or right?
b) Will it turn back or carry on running to the other side?
c) Ofcourse it could run towards the juggernaut or run away from it chasing it's shadow ahead of its self.
If I was the little white soft rabbit with a juggernaut heading towards me - with a full hard on beam, I would stop in the middle of the road
do nothing but duck with my ears between my legs.
Good trading everyone...