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Well with the Paris news the markets look set to open lower.
Other news is that The IMF have agreed to include China in the Special Drawing Rights ‘currency’, I think at equal weight to US, UK etc.
I am wondering how this could affect the Chinese currency as it was the Chinese relaxing currency that came before the August mega drop.
If Paris alone were the news I’d be tempted to exit shorts on a dip at the open, but am not sure of the implications of the China deal.Some Middle East markets taken out August lows….
terrible scenes in paris,2 massacres in the space of months.sad time to be living there,a lovely city..markets have bore up well considering.spoos gapfill then steadily upwards? or is that just to easy?
Seems to me this is a “defiance” rally. Prolly give it all back in next couple of days.
Glad to see the England-France game at Wembley is still going ahead, cancelling it would be a victory for the thugs.
agreed paps,the usual “higher than youd expect bounce” then hard down.what a shame belgium cancelled tonights friendly with spain,they should of stepped up and made an occassion of it,this is the sort of response of fear the attackers set out to achieve.
Ftse decline from ath to 24th Aug lows still looks the real
deal where as the current rally looks like a retrace.IF the bulls can get past Fed minutes, Nov OE and we do
not get any more terror attacks. Then maybe there is a
chance of a December Fed and EcB fuel Santa Rally to
give the Ftse a run at 6600.Atm no ones seems to have got a pattern, count, or an
indicator, worth looking at, imho.Atleast we are all equal, as we all don’t know 😉
Never give up, never surrender.
Bulls have had a good rally and now the bears need
to take some of that back. We should get a good
idea of the count after today and friday.The way stocks perform in the last trading week
of November looks like a critical test, imho.Never give up, never surrender.
Small short Ftse 6350
Testing to see if this bullish rally can hold above today’s
opening gap up(call it 6280), throughout November.I would like 50pts in an ideal world.
Never give up, never surrender.
Well its looks like we have done 5 sub waves up on Ftse and we
have but the size of the waves looks wrong !We could get a small retrace then morph into some other count
which demands higher prices.I am watching my trade like a hawk and will cut at any sign
that the initial count / thought process, is wrong.Never give up, never surrender.
Stop at b/e …. expect it’s taken very soon but I don’t
want to give anything away to this market.Never give up, never surrender.
Small short Ftse 6350
Closed at 6335
I have taken the 15pts and will likely wait for OE tomorrow.
Never give up, never surrender.
Central banks and market movers and shakers seem
to think that low interest rates(QE) in ever greater
amounts, can fix any problems.I think you can regard QE as a feel good drug and
hence, like all drugs, ever more is required to
get the highs.The problem is that higher doses bring ever move
bad side affects, to the point where the drug
cannot not be taken, on pain of death.I think stocks will hit the wall in 2016 and
most likely no later than January, fwiw.Never give up, never surrender.
The wall coming into view….
I took some Feb 1260 gold calls on today. Not sure how gold will play out initially. Deflation like 1929/30 comes first to make sure all the folks with debts are killed before inflation/hyperinflation. In a deflation ‘paper gold’ on COMEX could in theory fall like everything else and if that is what we are betting on, becareful. In a global deflation the dollar can rally as more debts exist in dollars than any other currency so when the debts get destroyed, the dollar would rise against the other major currencies. There again, I think the physical demand for gold if the crisis is bad enough could overwhelm Comex. Dunno. Ultimately it’s multiplying many times over. in $ terms I see minimum $8000. Gotta becareful on spreadbets which is why I like options as my max loss is known.
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