Confusing Tape, Must Be the World Cup

I just can’t get a good read on this tape!  These past few trading weeks have sent me all over the place.  Part of me thinks we will have a big rally at the end of the week, the other part of me thinks we get a sudden drop.  It was only at the beginning of last week that I was leaning bearish, but after a fail on the follow-through for selling, I switched to being on the long side, and now we get an steady decline intraday today.  I haven’t seen this spin cycle market in a long time.

That means I’m left with going with those odd pair trades.  For now I’m sticking with long term bearish, short term bullish.  How that paradox works will be a mystery, but it works.  I already have my trades set for tomorrow.

Long  BIDU

Short YGE

Still long CFIG and short PEET.

Meanwhile, anyone else out there watching the World Cup.  Unfortunately, here in Hawaii the games play like at 2am and I try to watch as much as I can.  And, it’s real hard to stay up since most of these matches end up in 0-0 ties.  Of course you got to root for U.S., since everyone hates them and thinks they should stick to our own Football.  If they win or tie this next match they should move on to the 16, and depending on their matchup they could probably go to the top 8.  I’m actually a Spain fan, but I wouldn’t mind seeing US beat them again.  Haha!  Biggest disappointments so far is the entire England squad, Messi, Cristiano Ronaldo, Italy’s offense and France.  I have friends in all these countries, so it’s fun talking international trash (thank goodness for Skype!).

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