You know…I really feel sorry for anyone looking to get into this game from scratch – right here…right now….under the current market conditions…this “jungle” we call a market.
I climb down from my nest in the dark of early morn…grab a bamboo shoot er two, sit down at my computer and look to plan my assault.
Pow! I book any and all profits from the overnight – go 100% cash – sit back and watch the same ol scenario play out – as it has, time and time again.
The entire days move (for the most part) happens before the open! – and for the entire day – poor “hopefuls” plop down their hard earned (or borrowed?) cash – lucky to see a penny of it left as the day comes to an end.
Left confused and likely scared half to death – the following day is then filled with panic selling (ironically) as the market screams higher…and higher….then higher! Huh?
Following currency markets – allows a trader to monitor trends / price action 24 hours a day….and not fall prey to the usual “NY Jungle Fleecing.”
Ill look to reload tonight – as the monkeys in London wipe the sleep from their eyes, and reach for the bananas.
As the mighty Hudson River swelled and unleashed its fury on the Jersey Shore – so too it appears that The U.S Federal Reserves “flood of dollars” is set to break the levees in global markets.
The dollar looks to continue its turn downward – and this gorilla is calling for rain……………..”golden rain”!
Overnight gold has popped 8 or 9 bucks and is certainly looking ready for a fast break to the upside.
My accounts as well popped an additional 2% – and (if you can believe it) have already taken profits – looking to re enter here mid day / this afternoon after the usual “morning shenanigans” play out.
I never EVER worry about missing a trade after taking profits and looking to re enter in that:
- One has to be thankful when things go their way so early on.
- It always feels “amazing” sitting 100% in cash (especially when there is more of it than the day before.)
- There are a million trades – and no “train is gonna leave the station” in a 24 hour period – without a large percentage of retracement / opportunity to jump back on board.
Things are looking good across the board for continued “Risk On” in markets – and the same strategy is currently in play – Short the U.S Dollar and Yen against the Commods – as well long n strong EUR/JPY.
I might pick up another couple pairs here today (long GBP/JPY,CHF/JPY) with small orders and wide stops as these can rip your head off without a moments notice.
As suggested over the last two days – it appears that the dollar has finally completed its last push higher – and is looking to roll over. There may be a day left, or perhaps a quick spike in this evenings trading – but I expect any further upside to be “limited” at best.
All trades entered as of last night are sitting in profit – and the plan moving forward is shaping up – right on track.
I am currently short both the U.S Dollar and the Japanese Yen against the Commods – as well as long EUR/JPY.
Depending on overnight action, I will be adding to these positions rather aggressively here at the turn – as to maximize profits and catch this next leg “up in risk” – staying short the safe haven’s – and getting long the commods.
This is a rather significant turn here, as the dollar is unlikely to gather much support (thanks to Ben’s QE to the moon!). One would have to expect that “inverse” to the dollar moving lower – gold, silver and related stocks are set to fly.
I would not suggest missing this entry in gold and related stocks – as the gold bull is incredibly difficult to ride. The pullbacks are deep – so deep in fact that most traders dump at the bottom – and then get beat up trying to chase it.
There are only a few times a year ( if that ) when buying gold is a no brainer – this is one of those times.
I’m no conspiracy theorist ( well……sort of ) – and this is a stretch to say the least.
But……….with the incredible significance attached, to the outcome of the coming U.S Presidential Elections – could you imagine if one of these bozos had the keys to this:
HAARP – This acronym stands for High-frequency Active Aurol Research Project.
HAARP- and is a secret undertaking that is not unlike the Manhattan Project which gave us the atomic bomb.
HAARP irradiates the atmosphere with enormous levels of ELF radio waves. In addition to altering weather patterns and creating storms, HAARP is also known to change the way in which the human mind operates and lower our resistance to disease.
HAARP towers look much like regular antenna towers but they specialize in ELF radio waves. While these types of towers are located in many parts of the world, America has constructed the largest array of towers in the world in Gakona, Alaska. These HAARP towers cover 40 acres, and are connected directly to a gas field, thus giving uninterrupted and cheap power to these fields. HAARP was fully functional in early 1993.
HAARP provides the ability to put unprecedented amounts of power in the Earth’s atmosphere at strategic locations and to maintain the power injection level, particularly if random pulsing is employed, in a manner far more precise and better controlled than the detonation of nuclear devices.
Could Obama or Romney “create a hurricane”?
HAARP is the largest ionospheric heater in the world, and its location in Alaska provides just the right location on Earth for such an ionospheric heater to be used to control and manipulate the global weather as a weapon.
NYSE now flooded for the first time since like……the early 1800′s.
There is considerable expectation that with tonight’s monetary policy announcement – The Bank of Japan will be adding to its current easing program – and continue to expand its balance sheets.
What does this mean to me as a trader?
It will likely contribute to further Yen weakness if indeed further easing is announced……and provide for some excellent trading opportunities.
Regardless…..as money generally flows “out” of safe haven currencies (such as the Yen and the U.S dollar) and “in” to risk related currencies (such as the AUD and NZD) I see fantastic trade opportunities developing in pairs such as AUD/JPY, NZD/JPY as well as CAD/JPY.
The Australian , New Zealand and Canadian currencies are often referred to as the “CommDolls” in that these countries are large producers and exporters of such commodities as gold, silver, and oil.
So…..What would anyone consider the Yen a safe haven?
Quietly……As “Hurricane Sandy” plots her assault on the Atlantic Coast of the United States – the dollar also plots its course for the 200 day moving average.
I´ve been watching patiently as the last winds of this “dollar rally” blow hard towards (the now flat) 200 day moving average….and now….only a few short gusts away – the storm has arrived!
Coupled with the recently announced “QE to Infinity” – one would have to assume this to be “certain death” to the dollar – and an absolute “Golden Opportunity” – to not only get short the buck – but to buy gold (and related stocks if that’s your thing) hand over fist!
I will be buying gold here (likely through the miners).
I will begin building several positions “short the U.S buck” as well Yen – against a basket of several currencies….as I look to “RISK ON” taking hold in coming days.