On Friday, these highly correlated "cousins" were strikingly divergent. They move large and opposite to each other.
This kind of odd move could be what is nicely called an "exhaustion gap" but I kind of think of it more as an intentional throw off by the big boyz, the market makers, HBB......the ones who bought the gov.
As such I took a short position in afterhours futures on Friday afternoon. Seemed like a no-brainer, Sunday will tell!!
You should be fine. I am waiting for Mon to get short. Think there's one or two days of upside left. Moon is 8/9, and Bradly is 8/10... And that Bradley is a big one.
ReplyDeleteThought for sure we'd be challenging SP1200 at this point, but...
You'll find this interesting.
http://spiraldates.com/?p=475
powerful mojo from the skies the next couple of days, could be a wild ride, but I have to generally agree with you, steve. even if there's a pop (fed announcement?) soon, the risks are still to the downside. good luck to us all.
ReplyDeletethanks for the link, dnarby, I had forgotten about spiral dates, bookmarked now!
ReplyDeleteI may try this dollar analysis again today.
ReplyDeletehttp://oahutrading.blogspot.com/2009/09/chart-of-charts-currency-20-against.html
I think Fed is just posturing trying to "talk down the dollar.
ReplyDeleteA while back I did a 45 minute review of many currencies against the dollar, from a pattern perspective, and then picked intermediate and long term bull and bear. I will try this again today if time allows.
http://oahutrading.blogspot.com/2009/09/chart-of-charts-currency-20-against.html