Quadruple top now on weekly and monthly. Prices stalling out at quintuple top and momentum shifting. Bear market topping action in vogue. Bear market began in March 2019.
ES Journal - 2019/2020
- Thread starter Buy1Sell2
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It was a day trade, not a position trade.
Looks like China recalled their delegates. This was apparently after Trump said he wants a “Complete deal” and that he could “Wait until after the election” for a trade deal. In addition, Trump apparently exempted hundreds of Chinese goods from tariffs. So a bit of a mixed bag. Still, it seems both sides are hyper sensitive to comments. I thought reaching a trade deal was the goal. Seems like both parties are not focused on the important things right now.
Had some short ES delta that I closed just before the drop. Damn. At least my net long delta gold option spread is working.
Had some short ES delta that I closed just before the drop. Damn. At least my net long delta gold option spread is working.
Trump indeed has a plan, but he's not telling. It seems obvious that the plan is not to reach a deal before the election or at the elections... he belives a deal now is too soon to be remembered at election time, while China-bashing keeps winning voters to him. I'm just being nice to Trump because the other explanation that could justify such a tween (an insult to China's efforts) while the Chinese delegation is in the US would mean that he's lost his mind and belongs in an asylum.
As for the markets... removal of the positive a trade deal would create could be what the markets need to wake up to the host of negatives currently being ignored, not least the significance of the rate cut (Powell has no wish to please Trump by propping-up markets, if he cuts it's because the economy needs a cut). Sentiment & complacency now need to be reassessed, fundamentals warrent a move down from here, a reality-check will move markets down. B1S2 is making the right call.
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And so he is now playing a wicked game of poker with the economy....which is why he is trying to put pressure on Powell....to boost his chances of no economic downturn before the election. If he loses this game, he's done at election time.
Indeed he is, but he has no understanding of his opponent (including the ego driven Powell), so it might backfire. Publicly insulting the Chinese or playing games with them is not taken lightly by China and they could well shift focus on making sure Trump loses rather than negotiate in good faith or at all. A temporary downturn in the Chinese economy does not phase the regime, insulting them does... this is what Trump does not understand
Very easy for China to make Trump loose... if angry enough they will lead him on with a deal they have no intention to honour, then as Trump beats his chest at election time, they pull the rug from under him a day ot two before the vote.
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He lost the game. He's gonna' buckle under the pressure of 2020.
That statement is apropos, by the way. He really is playing poker with the economy. But it is the WORLD economy he is trying to "Art-Of-The-Deal."
He's an asshole for doing it.
...but the ego, the EGO !
(It is not your speakers/headphones regarding no left channel, it is just a bad copy. Sorry about that.)
@Magna Yep, I do. Crazy, isn't it.
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