FAST TIMES AT RIDGEMONT HIGH
Here is an intraday chart of the Euro today just to show an example of the wild day at hand here. Ironically it is trading inverse to the stock market which has not been the usual relationship lately. The DX is also declining with stock prices which although typical of the historical relationship, is contrary to what has been happening the last couple of years. It is almost as if the markets are fighting back again these correlations. Many of them make absolutely no sense at all and are being driven by arbitrage types of programs by large funds. At some point markets do go where they want to go. Maybe this is a sign of that happening, but it is way too soon to tell from just a few hours.
There have been a couple of recent periods where this has happened just to have things come back into line again. The more independence we have between markets the better the trading opportunities will be. For now basically everything is the same trade.
Below is one of the better traders I have made this year, Bean Oil. I exited this trade Friday at my target price after 3 nice large down days in my favor. The whole grain complex is fundamentally setup for a decline, so when one of my short term patterns showed up here I went at it immediately.
I was tempted to short Wheat today, but decided against it when I say the big stock down open and it holding up better than all the other grains. The Yen trade I mentioned yesterday did not trigger, and in fact that market exploded higher today on the stock drop. We do have a potential trap reversal there now if it closes here and then reverses back down tommorrow.
On a separate note, I read this morning about lawsuits that are now being filed against people excercising what should be their right to free speech in blogs. As a result I am debating closing this blog right now. It is clear the trend is to suppress individual freedoms right now and as much as it sickens me to think I would give in to it, it is what it is. Dissenters are being silenced without regard to the laws now that our country is being transformed. I am just a small fry so I guess I am going to have to give in here and just keep my information to myself.
Please for the sake of all of us, vote against the Dems in the next mid term election and the next presidential election as well, unless of course you want to live in the new republic of the US. We have to collectively put a stop to this and all we can do it vote these people out. I have not made a final decision, but the one day the "mystery visitor" visited my site and downloaded all the pages has gotten me very worried.