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Just saw a lot of momentum on this one.

Why are you short? Just curious.

Why are you trading on the news? Chart of GBP/USD has strong upside momentum. "It's not possible to react to your way to investment success." (can't remember who said that, but relevant quote)

Relentless: You able to share your reasoning on what you're looking at for your forecasts? Just curious. Thanks!

Good deal. I have just been sitting on my long positions from the last couple of weeks, for the most part. Trying not to overthink this!

I guess when this market just goes up, people stop posting in this thread. :D

So I'm getting ready to do a presentation to a college Investment Club. One of my key points is "The market doesn't care what you think." Just figure out what the market is trying to tell you.

That was my take -- assuming there wasn't a connection issue, he could have said "I don't know and I don't care."

It does appear to be him -- I think he just hasn't updated his public photo in a while. Interesting to see the "back and forth" on Twitter. I was disappointed in his lack of restraint.

The reality is that no on really knows how this will all play out. I just find that typical trend, momentum and relative strength analysis is sufficient to trade this stuff without getting caught up in all the opinions.

So true. Folks want to debate whether TA works or not. MAs, indicators, etc. -- they are just tools. The skill is picking the right tools at the right time and realizing that the tools aren't perfect.

Good post.

Market Observer: themickey could be a little more kind! :D However, I think his point may be that your conclusion, although it could be right, might be based on "evidence" that, in itself, isn't enough to draw that conclusion. Does that make sense?

I swing trade GBTC and ETHE quite a bit but this new ProShares ETF should be interesting. My guess is volume develop pretty quickly. Knowing ProShares, an inverse one is probably not far behind. Next question, will there eventually be options on the ETF?

Fair enough -- do you use any momentum indicators? I observe the trend but also use momentum as basis for when it might end.

Glad you made hay out of it -- why did you think the week would be down, though?

You can either worry about what might happen or just trust your read of the markets.

Still long stock market here. Everything looks good overall BUT we are up against potential resistance right here AND a volatility risk indicator that I use is now at an extreme level -- now it can stay there for a while but it's a level that I need to be a little more careful so not adding...

I have no evidence of a dead cat -- in my view, everything has lined up on this one for a good move. Hey -- I could be wrong, but it shouldn't be too hard to figure that out if it happens.

Looking for the gap above it tomorrow (on indexes). There is a reasonable chance that this could be one of those moves where you just move up relentlessly for a few weeks.