Let’s review, shall we?
We’ve enjoyed a terrific run, but Europe closed at 5 week lows.
Spanish and Italian yields are 7% and 6% respectively, aka “too high.”
The euro is hitting new lows, down in the $1.22 area.
Global growth has been stinted by the ongoing European crisis.
If you are like me, up near annual highs, despite the global doom, consider yourself fortunate and treat yourself to a vacation. You don’t have to travel to some island, dining on near-extinct animals and enjoying lavish gratuities. Sell out of your shit and take a break. The market is in the process of figuring out if it should give it all back, AND MORE, or run higher based upon the prospect of counterfeit money.
I will not pull any punches with you. As a matter of fact, I’m more inclined to offer you a full-sized punch to the nose, than care about your plights. However, since we are in this together, I will tell you what you need to be told.
TODAY IS NOT THE DAY. You shouldn’t buy this dip, for another one might be lurking around the proverbial corner.
I am in sell mode and will likely push my cash position to upwards of 50% by the end of the day. I do not care about missing out because I have already won. Therefore, I deem is paramount above all other things to preserve my gains until an easier trade arises.
12 Responses to Hard Facts and an Easy Trade
So eat a sandwich and annoy the missus with some Meek Mill?
Let the drinks flow red with blood…wait how does that go?
21-21-21 or something like that
You are beginning to make less sense than Trading Nymph these days.
Bearded Clam, interest rates and the Chinese and blah, blah, blah. LOL
Is that you on the avatar?
Thanks for the heads-up – a prudent course of action for a thought process, which has proven to be…shall we say…a bit dated. It is my belief, that you may be a bit gun shy possibly due to your plush life-style and 20% YTD take down. Where’s the hunger? Where’s the fight? Average down into this shit.
I am taking your advice. Yesterday was my all time high, and I sold a bunch. Heading to the remote CA coast for the weekend. Thanks for YELP- trade of the year.
Fly can you please incorporate this song into one of your post?
Fly – it just hit me that you began this post in the same manner that Alf would one of his comments – “let’s review, shall we?” Was that intentionally awesome subtle humor? Or just a freak coincidence?
Fuck It i got mistakes to make and things to learn and money to make.I’ll Hang.
Aye, bad things about.
For all those looking for an election trade, be sure to remember the last one.