tag:blogger.com,1999:blog-27784316.post24905470125393180..comments2023-09-06T03:23:43.027-07:00Comments on I AM A FUTURES TRADER: Chris Johnstonhttp://www.blogger.com/profile/01542415946929766288noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-27784316.post-6007463142401834752011-10-20T14:46:32.905-07:002011-10-20T14:46:32.905-07:00Hi
I see Nasdaq as leading indicator for equities...Hi<br /><br />I see Nasdaq as leading indicator for equities in past. Today, we closed < previous inside days. Lower prices could setup a LW's specialist trap pattern whereas prices may retrace more than half of the trading range.<br /><br />Best not to be ultimate bearish or bullish but follow markets. Copper on the way but do not see much potential <300 for now. Got out of coffee long, looking from sidelines. Soybean confirmed down move. Energies waiting. Crude may setup for a specialists trap too. RB, HG unclear.<br /><br />Agree with you: non traders will tell us what we should have done once moves resolved... Re-subscribed to PP monthly live meeting. Let's see what the news will be.<br /><br />AlainAlainhttps://www.blogger.com/profile/14485268416969234840noreply@blogger.comtag:blogger.com,1999:blog-27784316.post-19363953065772659792011-10-20T13:33:22.506-07:002011-10-20T13:33:22.506-07:00I have to say that I've been silently reading ...I have to say that I've been silently reading lately and applauding your stand on gold. The plains of failed traders and investors are littered with the 'this time it's different' crowd, and the gold goldilocks will join them at one point or another.<br /><br />That whole Mad Max scenario never made sense to me, either. I mean, how is gold really different from any other mode of currency, fiat or otherwise? It's just a matter of faith that someone else will consider what you proffer to have any value. Gold is a shiny rock. And that's better than a piece of fancy printed paper how?<br /><br />Of course, some will say that historically, gold has always been of value, and they'll hang me on my own criticism of 'this time it's different' if I say that doesn't necessarily matter. It can be difficult to parse when humans' hard-wired way of thinking--that whatever has happened or is happening will just keep on happening--is wrong and when it isn't. <br /><br />So I admit that gold has history on its side in that extreme scenario, just as bubbles and their popping have history on their side. Maybe the seeming contradiction is a matter of timelines. Gold as barter material is dependent on a future that assumes the absolute worst. Anything short, and the argument dissipates. But huge runups and overvaluation spikes are shorter-term. They're also much more reliable than predicting an extreme left turn in western civilization.JMhttps://www.blogger.com/profile/09876016557456927299noreply@blogger.com