Wednesday, August 26, 2009

Short term short on Dollar and possible Wave 5 Move

As mentioned weeks back, I am bullish on dollar because no one else is. However, after a huge move today, reversing the position and taking a short. Looks like a 5 wave up to me, so I hope to scalp a retrace.

Same line of thinking, but in reverse. I think one more big spiky move up on /ES and SPY to pop short stops, and then sled ride into Armageddon. Ouch.

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Insightful and Useful Comment!