The EURUSD is not confirming the move, and oil prices have retraced. Yesterday’s powerful follow through into this morning has suckered people into the funnel.
For the moment, I don’t know if I want to sell any more. But one thing is clear to me – unless Europe can get its act together, we are going down.
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I may get in the vice this afternoon. (Get short.)
However, I hate taking small short positions over the weekend. If i do anything it will be to nibble on some ETFs. (TZA and then TWM short the Russell.)
Agree with your post. My thesis for a quick trade is that the move has overshot to the upside. Most of it based on Fed jawboning. On the one hand, too strong a bullish move by the robots, based on the Fed’s positive comments. On the other hand, never fight the fed.
I am thrust upon the horns of a dilemma.
Therefore, this will be a very quick trade if I do anything at all.
The google miss sure didn’t help
appreciate your take on things
will wait to see how things turn next week before jumping back in