I might be alone here

    Weekend Newsletters

    Posted by payday on 1st of Jun 2012 at 10:25 pm

    I might be alone here - but other than general market sentiment I find the world market newsletter useless as I don't trade other markets - even though I live in Australia. I was thinking Matt if you could make some comments about the break in the correlation we have had today ie s&p drops but the Euro and gold rises. Thanks

     

    payday and others- regarding you comment

    Posted by matt on 2nd of Jun 2012 at 05:54 pm

    payday and others- regarding you comment that to you the world market newsletter is not useful, that is your opinion, but I disagree, here's why:

    1. Over the years BPT has been getting more and more members from countries from around the world, we have a large concentration in Canada, some of the South American Countries, Europe of course, Asia, and Australia.  The US markets for now are still the most heavily traded, however we get requests from our foreign members to look at the world markets from time to time and as a business I try to fill my customers needs.  

    2. There are trade ideas in the Foreign Newsletters that you can take Advantage of.  It's not all about here's what the world markets are doing with not way to play them.  I discuss trade setups and I show a lot of the ETF's.  For example on May 4th one month ago in my world market newsletter I showed that while most world markets were in downtrends, a few markets were still holding up and had not pulled back yet.  However most of these had double and triple negative divergences in place.  A few of these were Thiailand, Malaysia, even Mexico.  These provided great shorts via their ETF's, here's those charts now. Also see the newsletter from May 11th , the Philippines stood out with triple negative divergence and hence provided a nice short.

    Also currently and in the future, the world indexes will bounce, it's not the end of the world Mad Max, the point is you will also get the opportunity to place oversold rallies in the world market indexes via playing their ETF's.  So I disagree that the world market is not useful, it is useful at providing swing trade ideas. 

    I've attached charts of Mexico, Thailand, Malaysia, Philippines and you can see that they provided nice swing trade shorts.  Again they stood out because in early May they had not let had a correction and were near their highs, thus they were low risk to jump on board, while it may have been hard to jump on board the European indexes since they were already in downtrends.  

    Again going forward, we'll also see opportunities to buy some of the world ETF's for swing trade bounces when the world markets eventually have their bounce

    3. Again think of BPT is a newspaper or magazine or smorgasbord, you don't read all the articles or eat all the food, pick and choose what you want and what works for you. BPT has info for all type of trades. 

    Thanks Matt for the reply

    Posted by payday on 3rd of Jun 2012 at 01:43 am

    I might have sounded a bit harsh on my last post, but there was no insult intended. Just my thoughts is all. Love both your work and Steve's work. Your interpretation of the charts certainly adds to my knowledge and most importantly to my bottom line. Whilst I do not trade the other markets, I humbly acknowledge that there are other subscribers on this site that do. I do think of BPT as a smorgasbord, and like a real smorgasbord, I eat til I am bursting unable to walk out the door without a helping hand and a last serving of ice cream. Keep up the good work and looking forward to another interesting week.

    agree

    Posted by darnelds on 2nd of Jun 2012 at 03:39 pm

    agree

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