Ripper la Cara

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May 3, 2010

WTF is with this market. The minute there is a potential 2 day move they rip the other way. Not just a doji, maybe a hammer, maybe some lame weak fizzle, no they rip the face off the very next day. That is what happened to me today.

Mostly in my KGC calls and FXI puts. Both trades are still the same setup, but I just had to start cutting some things to protect capital.

My index shorts got walloped of course with today NDX and RUT move. My FAZ that I held ended up giving back most of my profits, before I decided to cover.

The charts say the US markets are still ok, but are flirting with change.

Emerging markets look like crap, particularly China, European countries like Spain, Italy, etc., even Brazil. Those are the best short trades right now.

Gold is still good it took a breather today. I sold out of most of my gold today, but will be a buyer again. Hoping for a pullback tomorrow.


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  • stoxtar

    Question is…did your system trigger a sell? I don't mean your short-term indicators but your main system. There might be something to that. Anyway, best of luck tomorrow.

  • http://www.stockrake.com StockRake

    US markets only triggered major warning signs not sells. Emerging markets are in full sell signals, which is why I’m heavy short there. I’m also heavy short US markets, but that was somewhat of a gamble.

    Today its paying off though HUGE.

  • http://www.stockrake.com StockRake

    US markets only triggered major warning signs not sells. Emerging markets are in full sell signals, which is why I'm heavy short there. I'm also heavy short US markets, but that was somewhat of a gamble.

    Today its paying off though HUGE.