The rally continues….. No surprises in Pomo so off we go to 1300 and beyond.. I hate to tell ya guys but as long as POMO is with us the market will rise. Of course we will see normal pullbacks but the trend is up. Don’t fight the FED. It will hurt your wallet. I think next week we will see some downside. Seasonals
bad next week.
As I posted earlier, I already have some GLD June puts…and that Nenner disclosed he is loaded with 100 GLD puts (didn’t mention month, but I think is June, due to open interest)… from another Gann trader, I have major gold lows at Feb, March…which would make those cheap June GLD puts, very expensive, as they have lots of time value left…
Gold always sells off, if equities sell off (to meet margins), but what would happen if sell off is in reverse…that is, what happens if gold paper fails, gold futures sell of majorly (and we know there is lot more paper, than physical)…
Max Kaiser had been speaking of gold vigilantes and raiding of London exchange…what if they come clean??? We got no gold, just paper! What earth shattering even would that be…a true black swan…it’s not like they can separate price of physical and paper in days…it would probably freeze trade of physical anyway…other things have never happened before, that is what makes them a black swan…
Just something to think about…as margins are maxed…
Sounds too easy doesn’t it? Well, maybe it will be this time? So, good data tomorrow morning, and surprise on Friday? I’m lovin’ it! (would you like fries with that?)
the set up is sweet though – a gap up of .5% in the morning open on some made up claims number – we tag the FP and we reverse from hard from there – a great topping candle….. the next day JPM comes out with some nasty earnings and the markets reponds with the initial sell off…..
I seriously doubt the market goes this low this year!
Normal pullbacks? Thats funny Robert.
The rally continues….. No surprises in Pomo so off we go to 1300 and beyond.. I hate to tell ya guys but as long as POMO is with us the market will rise. Of course we will see normal pullbacks but the trend is up. Don’t fight the FED. It will hurt your wallet. I think next week we will see some downside. Seasonals
bad next week.
As I posted earlier, I already have some GLD June puts…and that Nenner disclosed he is loaded with 100 GLD puts (didn’t mention month, but I think is June, due to open interest)… from another Gann trader, I have major gold lows at Feb, March…which would make those cheap June GLD puts, very expensive, as they have lots of time value left…
Gold always sells off, if equities sell off (to meet margins), but what would happen if sell off is in reverse…that is, what happens if gold paper fails, gold futures sell of majorly (and we know there is lot more paper, than physical)…
Max Kaiser had been speaking of gold vigilantes and raiding of London exchange…what if they come clean??? We got no gold, just paper! What earth shattering even would that be…a true black swan…it’s not like they can separate price of physical and paper in days…it would probably freeze trade of physical anyway…other things have never happened before, that is what makes them a black swan…
Just something to think about…as margins are maxed…
Rally is bogus.
http://www.zerohedge.com/article/2011-starts-bang-42-billion-outflows-domestic-equity-funds
http://www.nytimes.com/2011/01/11/business/economy/11fed.html?_r=2&emc=eta1
http://wallstreetexaminer.com/2010/07/26/the-fed-clueless-delusional-or-both/
Sounds too easy doesn’t it? Well, maybe it will be this time? So, good data tomorrow morning, and surprise on Friday? I’m lovin’ it! (would you like fries with that?)
the set up is sweet though – a gap up of .5% in the morning open on some made up claims number – we tag the FP and we reverse from hard from there – a great topping candle….. the next day JPM comes out with some nasty earnings and the markets reponds with the initial sell off…..
It’s hard too say now? I just don’t think we are close enough yet, so even though I’m temped to short today… I’m not.