- Crude at 74.30 now. Trade below 78.70 = break of monthly and weekly UpTLs.
- Taken together with weakness in Copper, lower US10YYs, ongoing problems in Europe (+austerity measures, fiscal tightening), China tightening, etc etc, am wondering if one should turn cautious about positive growth outlook.
- If so, there are significant implications for equities. Got to try to find ways to protect the short S&P position and give it every chance to work. Thinking there should be an attempt at last Thurs' spike low at 1069 at the very least (vs 1167 now).
- This is the time to be very vigilant on those sell stop-ins below the market. Because when the turn comes it would be almost impossible to jump on board if one is not mentally prepared.
2 comments:
S&P seems to always be the most challenging - sitting Sell Limit order filled at 1173 overnight - thanks for posting your insight it's always appreciated...
Too much liquidity around, thats why its hard to make money shorting equities. Good luck.
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