Tuesday, July 19, 2011

Sell the news? Dabama said something

Glad I sold off a bunch of Aug puts lately.   It seemed some type of debt deal would come out, as silly as all that posturing was/is.   I guess Dabama said something, it really doesn't matter what he said.

An ES push to 1330 seems logical, as there is the 61 Fibo, and strong horizontal multiple resistance.

USD futures show a strong chart, obvious support, I shorted Euro last night on a Euro spike from hell, and near simultaneous DX reaching the channel B133 bottom.  (That means Bernoulli 4/3 channel extension)

DX looks ready to rock up, unless they now also trot out a QE3 to "support the debt limit deal"....I can just see the headlines....now that we have the DEAL in place, let's use the authorization of that deal to put American's back to work...buy buying debt and stocks that no one wants, yeah, that will do it.

Just because you are cynical does not mean that they aren't all jacked up in their approach.   But keep in mind, they aren't dumb, after all they got us working for them to support their power and privilege.

Whatever, the goal I have is to extract money from the markets, on a fairly consistent basis by following my trade signals and trade setups that I buy (Breakpoint trades)

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Insightful and Useful Comment!