I lightened up even more today, in part, due to the fact that we may see a margin call swoon on Monday morning (or afternoon). I am still seeing too many bottom-calls and bottom-fishers out there to think we have a real tradable low. As a result, even some of the better performers of late, such as various commodity instruments, may also get hit if the margin calls ensue…Just a thought, who knows, but maybe even the precious natty gas will get hit as an innocent bystander to margin calls?
Also note the vicious breakdown in Japan. Many, many bulls were jumping on this bandwagon a few weeks ago. I am proud of 12631 members like @chivotrader who stuck with the short trade and recognized the crowded boat. Check out the potential for a major weekly move lower now, coinciding with the recent Yen strength I discussed this morning.
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yep, i’m not gonna play it but watching that yen/ewj stuff too. interesting thought about margin calls…
Chess, of course you’re right that it’s a good moment to lighten up and watch for a bit. But ibc is also good at lodging temptation in my mind, so… 1. JVA doesn’t seem to want to go below $5; 2. I want in on the LED empire, RVLT might be a good buy here but a part of me feels like I deserve to buy it on a plunge to $2; 3. or AREX or MLNX. Must sit on hands…
Good stuff, mateo.
C’mon, Chess! Throwing up the Buffalo Bill omen on a day like today??? I’ve never once thought of you as ‘blood thirsty’, but….
Buffalo Bill knows no boundaries, my friend.
“It rubs the lotion on its skin, or else it gets the hose again…”
Well done, Anton
Check out relative strength in CCJ. Uranium heating up.