Can it be this simple? The Turkey Gods are gone, so now the market shall plummet into a deep abyss?
I knew short sellers would lean hard on this market at the first sign of weakness; but this is ridiculous. What’s even more ridiculous is the tepid spike in FXP.
Call me crazy, I think it’s too late to sell, following a quick 5% dump out. As you can see, the market is like a funnel, with a wide entrance in—-but woefully small exit out. Across the board, people are panicked at the first sign of weakness, which makes this fucker of a market incredibly hard to stay long— for a duration longer than a few days.
Nonetheless, with my money, I will sit and watch, instead of cashing in my chips.
NOTE: I am not buying, since that would be stupid. I just need more time to evaluate the tape. And, because FXP is such a laggard, I may buy more, just in case.