I forgot about him. I felt for the guy. So set in his opinions
though. Reminded me a bit of the guys on financialsense.com. Always
beating the drums for the bear case. Personally I make money short
and long. As a trader, I don't think it is productive being too set
in any one view. Always be prepared for what the market throws at
you. Right now is definitely bearish but I feel that there may be a
bottom around here. The last few days action in the ES does look
promising. Bears trying to push lower but constantly getting
battered by the bulls buying up around the 1340-45 level only for
the bears to get the upper hand around the 1360-65 level. I have
dipped my toes in the water at these levels for about 3 such trades
this week both long and short and it has proved very nice. I love
it when the market behaves!
I am carrying some euro futures shorts over the weekend. Right
now I think that the market is waiting for another eurozone
debacle. I am thinking that this may invoke some panic selling
which should lead to a spike and then bounce back up. That's my
tentative thoughts atm, but who knows.
and spike in the VIX should lead to a very good bounce at the
very least. Maybe a test of the highs who knows. I am short the
euro from 1.3244 and may close half this week.
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Marketguy
Comparison to last summer
Posted by payday on 12th of May 2012 at 04:04 am
I forgot about him. I felt for the guy. So set in his opinions though. Reminded me a bit of the guys on financialsense.com. Always beating the drums for the bear case. Personally I make money short and long. As a trader, I don't think it is productive being too set in any one view. Always be prepared for what the market throws at you. Right now is definitely bearish but I feel that there may be a bottom around here. The last few days action in the ES does look promising. Bears trying to push lower but constantly getting battered by the bulls buying up around the 1340-45 level only for the bears to get the upper hand around the 1360-65 level. I have dipped my toes in the water at these levels for about 3 such trades this week both long and short and it has proved very nice. I love it when the market behaves!
I am carrying some euro futures shorts over the weekend. Right now I think that the market is waiting for another eurozone debacle. I am thinking that this may invoke some panic selling which should lead to a spike and then bounce back up. That's my tentative thoughts atm, but who knows.
I tend to agree with you that one more panic selling
Posted by tomW1 on 12th of May 2012 at 10:12 am
and spike in the VIX should lead to a very good bounce at the very least. Maybe a test of the highs who knows. I am short the euro from 1.3244 and may close half this week.