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- Thread starter Piptaker
- Start date
Still stalking the Aussie, Nzd short. Usdjpy looks like it's breaking down again, but I would expect some consolidation. The weekly TL looks like it's breaking or about to break depending how you look at it. Gold had a weak rally. Looks to me like some kind of big risk off move is starting, but I need to see a bit more anecdotal evidence, like some weak hands blowing up.
Would not want to be long equities here. In general I'm not bearish, cause you have a long long upward bias to the stock market. It's just that now we have the ten year under pressure and the usdjpy going down while the dollar goes up. So far. Something doesn't look right, and the tape is funky.
Also, if things get out of hand, the market can rip right through support. I would not want to be short premium anywhere, even the Euro, Aussie etc. You can look at a chart and say the market should turn in this area (We are close to it or in it with the Euro. Aussie weekly looks like it's already broken any support, but the damn thing keeps trading higher. Maybe next week. It did sell off towards that .7510 area late Friday.
I think we need to hear of some bank blowing up or country having a currency crisis to really get things going. I guess Indonesia is weak. You want to hear the sound of money going back to King dollar, the yen. That means some kind of panic, something blowing up. Or not. Doesn't matter to me. But this has been a long bull, and people get complacent. Then the money starts going from the periphery back to the core. Wash, rinse, repeat.
Gold broke down at the end of the day Friday as well.
I'm seeing some short covering now in gold (daily view) next week or two going to be key for future direction.
Hey I was just wondering about you the past few days. Glad to hear from you. As you can see ive been trying to keep the fire going here.I'm seeing some short covering now in gold (daily view) next week or two going to be key for future direction.