Little bit of a change of character with Friday's worries apparently long forgotten and the bull at full throttle. GLD is now at the top of the ascending LR30 channel band and if past experience is any gauge, we're likely to see some backtracking at this point. Of course, as the old saw goes, experience is what you've got left after you've lost all your trading capital, so the usual short caveats apply.Some nice spill-over gains in the financials as Buffett affirmed his love of GS . . geez, the guy's got like 5 billion on the line with those soon-to-be felons, so what can you expect?
The BZF is continuing a good winning streak (told you so!) while the yen and Euro got hammered, manifesting the underlying weakness that we identified in Sunday's post.
Some other good stuff on the BZF below.........
Currency traders note that the current issue of CURRENCY TRADER has an interesting take on Latin American currencies, with some some nice insights on the BZF. Sign up for a free subscription and download the current issue here.
2 comments:
Enough, already, with your comments and old saws-- please stop sawing and hemming and hawing and finish your master work on floating volatility. I've heard comments from others and noticed myself that ATR is becoming irregular. Major Tops often have patterns like what we glimpse outside our windows.
Thank you.
Daniel
Daniel,
Sorry to disappoint you but sometimes life's realities intrude on my research projects. People you were chatting with yesterday die and all of a sudden there's a big void that will never be filled. It's then that you (I)realize how really insignificant trading is in the bigger scheme of things and perhaps you begin to think about re-ordering your priorities.
More on this theme later in the week as a major change in my focus and priorities is explained.
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