The MOTHER of all short squeezes

[Pippy5000]

Feb 20, 2009 we learned what happens when virtually the entire market is long USD.. It took virtually nothing to set off the chain reaction stop run unlike anything I've ever seen!

Anyone else get pounded by that short squeeze from hell?? I lost a nice little bundle..

So does this mean the USD is done as a safe haven? Because supposedly the JPY is done as a safe haven as well..

You can't trust breakouts anymore. Is a new risk trade uptrend starting or is this yet another miserable fakeout? Stocks have detached from currncies making this very confusing. No one, not even traders on the floor knew what was happening with that short squeeze! I'd love to think that things would calm down next week because I don't feel like a trader anymore, I feel like a gambler ..

 

[bbmac]

I think it depends how you trade; fundamentally or technically, and on what time frames. Certainly there appear to be as many hi-probability technical opportunities as usual. Having an open mind sure helps as well as a willingness to admit that you have no idea what is going to happen so that any move that does materialise is not at odds with a preconception. Trade what you see not what you think should be happening.

 

[Pippy5000]

Correct me if I'm wrong as I'm not a techie but don't short squeezes drive techies crazy?? Surely they send false buy and sell signals..

I'm a fundemental trader trading the dailies and 120 minute charts.. Up until today lower stocks = higher USD but based on a rumor from a senator, the correlation seems to have been quite easily detached only to reattach just a few hours later.

 

[rawrschach]

Cable was beautiful to trade technically today.

 

[Pippy5000]

More power to you limey brother .... Still don't understand though!

Looked a bit out of control.. still though.. you tech boys have a field day.. We fundementalists will go ahead and cry ourselves to sleep...