At times…. I’m sure we all question our “take on things” and weather or not we’ve got our heads screwed on right.
These days you can easily find a dozen different interpretations of a particular market event, and hundreds of opinions ranging from “we’re all doomed” to “buy all you can”.
Success is achieved when you can rely on your own views and stop looking for answers in the opinions of others.
Of particular interest – how often I find myself fighting against the crowd.
How is it that no one else see’s what I see?
Currencies have been painting it pretty clearly.
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Not a single comment?
I don’t get it…it’s like the majority of people don’t like it when things don’t go up up up !
Seriously….I don’t get it – it’s “trading” right?
If you need to go look in the mirror and take a minute – ask yourself! – Are you really looking at this objectively?
I’ll bet you a 10000 bucks you’re American.
I looked in the mirror and took a minute and asked myself but I didn’t get an answer.
Unreal………
I’m commenting on my own comments.
Something clearly needs to change here.
Well you’re speaking in platitudes man. When you say “How is it that no one else see’s what I see?”
What is it that you’re seeing?
Well I guess I can’t ask you ” hey can you read?” but – if you take a couple minutes and go back….I dunno…..5 er 6 posts…..
You don’t know what I’ve been saying?
Sorry….I’m not really up to the task of writing it all down again.
Heres another one: http://forexkong.com/2013/04/20/intermarket-analysis-questions-answered/
Ha, yeah it’s not polite to ask a Tard if they can read.
Nice post, I did not know you had another site.
I do apologize….as I didn’t imagine you where actually a “tard”…..gees…no really?
To whatever degree – I can assure all – I am equally if not more so a “tard”.
Currently working on replacing the screen on my patio doors – as to cats that have chewed directly through.
I need to stop feeding them lobster n prawns.
Appreciate your work Kong! I just getting hit either way long or short, losing trade and money. Nothing easy or clear for me.
I always look forward to your commentary. You certainly nailed it, took it out back and jack hammered it, then ran a steam roller over it on your BOJ piece last night. Good going!
Thanks Randomness – at times ( considering the amount of time that some of these needs to come together) it’s a tough gig being the “forex guy”.
Nice to see things come together as planned – and I hope you and others have had chance to make some gains yourselves.
Good call on the currencies Kong. Could you elaborate now on what you’d expect on the equities side? You were stating a possible run up into Thursday. Still possible? Or has the downside commenced and you think we see much lower and soon? The dip-buyers are still around, so it seems there may still be a push higher, but the currencies certainly lead the way, in my experience. Cheers
Hi Mike.
Of greatest issue is the moves in USD which have surpassed my original expectations…with the speed of this current leg of the fall.
I assumed we’d get a usual “bounce” and an equal push in equities ( as we still may ) but the weakness has been significant – and is expected to continue. As it stands….I can’t say for certain if the waterfall will continue tomorrow (likely not) but trade on a considerably larger time frame that has both USD as well U.S equities taking considerable hits here throughout the entire summer and well into Sep.
Dip buyers are on the other side of the mountain ( as they have been for several days ) just not quite “aware” as they may be now.
I imagine we’ll see a pop yes…but this needs to be viewed as further opportunity to sell, as I believe we go much lower.
In the simplest sense when a given country ( in this case the U.S ) / global risk appetite makes the “macro turn”
Bonds go first…….then the currency – and lastly ( and especially in this case! ) the pump job, phony baloney equities market.
This link should help, as it outlines things quite clearly back late April : http://forexkong.com/2013/04/20/intermarket-analysis-questions-answered/
Kong, I love your work and appreciate it, but your posts have been tough to parse lately. Has led to me, and I suspect some others, not getting as much value out of them as we should. To make sure we get the maximum value we should out of trading advice proffered by a hairy primate, you may want to try to state things more plainly for us proles.
Mister Jinx.
Thank you….thank you….thank you!
I struggle to present some of this in a reasonably “entertaining and creative way” as the number and levels and indicators etc don’t do much for a casual reader.
I’d be hard pressed to just spout entries / values / exits etc but will certainly look to make my “views” less cryptic.
Thank you again for the feedback – as it’s much needed.
Sure thing! Mixing entertainment and actionable info is tough, especially when you’re talking about particular levels and the like. Again, your work is much-appreciated here.
Dare I say audusd has/is bottomed/bottoming and maybe even audjpy today? I entered a starter long in audjpy today and will now add to my initial audusd starter position from late last week.
It certainly is reasonable.
I’m not touching a thing til at least late afternoon tomorrow as ya – bouncy bouncy – the JPY pairs can rip balls in a heartbeat.
Man I know hey. Audjpy, nzdjpy, cadjpy like to move hard. I kept my initial positions nice and small
http://www.bloomberg.com/news/2013-06-11/traders-said-to-rig-currency-rates-to-profit-off-clients.html
Kong – way I see it is things work until they don’t. Until then I will not fight the trend as doing so has ended in capital losses in the past. Don’t get me wrong about trading, I still short individual stocks that get completely out of control and vice versa. But as you say, it is extremely hard to turn the “big ship” and takes a long time. Why fight? This is all about money and not being right or wrong.
FryGuy!
You bet – things work until they don’t, and fighting a trend always ends poorly.
I often look to challenge peoples “objectivity” in that human nature commonly “prefers to see things in a positive light”.
If ones sole barometer is the value of a single countries stock prices – oh my……
For example – I’ve seen the “big ship” turning since about early March as far as global risk for appetite goes….yet U.S equities have powered higher.
This financial puzzle is “global” and one can’t get too focused on an individual market with thought in mind they’ve got a bead on things.
Foreign exchange dwarfs the daily trade volume of NYSE by like 300:1 or something nutty like that…so – who’s stearing the boat?
Then by the time you guys wittle it down to individual companies….profit and loss etc…wow – frankly I don’t know how you do it! Head spinning !
Uncle Ben and his piddly lil printing presses are just one small cog in the wheel, and in all effect things to a “certain degree” – but as seen recently with Japan’s efforts.
I bet you didn’t see that one coming.
Lots of pieces to fit together yes…and again you’ve got it…it’s not at all about being right or wrong as long as you can sqeeze a profit.
Thanks for the response. I agree that everyting is global and the US is just one piece of the puzzle, albeit a large piece. Thing is, there have been global dislocations and issues for years, notably Europe. If one were to focus on the negatives, making money in the maket would be difficult.
Yes, FX is huge, as are other markets. I choose to trade US equities simply due to the fact that there are more opportunities, and markets for individual stocks are imperfect BECAUSE they are small.
The beauty of the “big ship” concept is that once the turn is made, one can ride that wave for a while.
And there it is – exactly…..a simple matter of choice as it best suits a particular individual ( is that a doulbe negative? )
I’m not interested in the slightest as to the comings and goings / profit / loss of some other guys company – hence ……looking at / trading equities from that perspective – literally pulling teeth.
I am a complete and total culture hound, as well a closet archaeologist, as well have considerable interest in getting back to my home planet – thusly…..space/space tourism/space mining/space everything top of my list.
I trade Forex because it’s applicable to my interests, as I am completely fascinated by human behavior – in particular as it pertains to to our interests in money.
Kong – I appreciate your contributions to iBC. I have a FX account but havent made a trade in years… just don’t know jack about it. But in time, maybe that ship will turn too.
Right on man – best suggestion is to just keep on with observation/learning as these are some craaaaaazy times trade wise.