That is true if one went long near the lows, but what if you went long at 107, 109 etc? Could you stand getting stopped out around 112, then seeing it bounce back to 110 in 2 separate quick spikes? I think you'd be a bit wary about getting in again.
Could BOJ strategy be: temporarily sell down the yen somewhat more than their target, then quickly spike it back so as to leave the speculators in the dust? I know I would be hesitant to go long the yen after seeing it pop a hundred points in a second or so.
and especially those bashing shorts all year (you know who you are): Where is the trend broken? Where do you guys "theoretically" get stopped out (as if -- I'm sure most have covertly sold most of their positions already)? Or is everyone afraid to put out a hard number or technical...
Easiest way is to open a futures account and short a 10yr-note future, one of the most liquid markets in the world, you'll just have to rollover every 3 months if you intend to hold for the long term.
I think we're beginning to see equity markets not liking the idea that rates will stay low for so long. You can only rally so far on the idea of low rates until you realize it means that growth is nonexistent for the foreseeable future (e.g. Japan).
In any case, SPY and QQQ charts look very...
I think upside rally could surprise people here, especially in nasdaq; last few days have been weak for tech and no one expecting big move before tomorrow's report -- might be good time for market to sneak up higher, JMO.
Are these types of orders possible?
Say you are long and want to sell into a upside break of resistance, so attach a trailing stop after a certain price level is breached.
7:45 EST tomorrow, I think there is a 30 minute statement/Q&A session during the following hour. I'm guessing from Germany (UK not ECB member, they announce 45 minutes earlier).