Gloves Off – Let's Do This Ben

We’ve skated around the issue long enough and I’m about ready to get this done. I’m throwin ‘ em down – my gloves are off!  Common big boy! – Let’s do this!

They say “don’t fight the Fed! Kong – Don’t fight the Fed!” – well……..this guy can shoot fine, and he’s pretty good with the puck – but can he fight? Can “Big Ben” fight?

I’m cruisin the neutral zone lookin to find out fast, as that good ol Canadian “fightin spirit” comes alive. I’ve had it with this guy. It’s “Go Time”!

He he he…..seriously though – I do find it fitting that hockey is the only team sport on the planet (that I’m aware of) where you are given complete and total reign to “beat the living daylights” out of your opponent while the crowd cheers you on. If it ever happened in American football or soccer, tennis or water  polo – you’d be suspended for life.

In any case….to put the “naysayers” to rest – and to alleviate the current bordem on my end – let’s look at it this way.

For every single point higher we see the SP / Dow move higher – I will add “two points” to any number of “bearish currency plays” for as long as it possibly takes – to call this guy out and beat the living daylights out of him.

This has gone past the point of  “antagonizing” – and my patience has worn thin.

I imagine we’ll dance a little longer and that’s fine – but we’ve all got our limits. I’m not lookin for any more of these “assist plays” and I’m already a top scorer so……’s time to see what choo got.

2% on the day and likely the week – as I’m on the bench here this eve.



7 Responses

  1. Nfxtrader May 8, 2013 / 8:02 pm

    Looks like you are warming up for a fight. No luck with yen pairs so far. Got some kiwi shorts doing well. Also looking at GBP to reshort.

    • Forex Kong May 8, 2013 / 8:34 pm

      Letting off a bit of steam for sure.

      When the fundamentals don’t add up – it’s tough to trade with much conviction. So when the fundamentals vs technicals are “this far” out of alignment, it grows more certain by the day – something has to give.

      There has to a point where one of two things happen:

      1. These big banks (and Ben) need to take profits too – and with such a parabolic rise, any “sane person” has to ask – when?
      2. The general “investing public” wake up to the fact that this entire thing is a complete and total fabrication by the Fed – to ensure consumer confidence and funnel every last red cent they can, of every single retired / yield seeking citizen before finally pulling out the rug – and emptying their retirement accounts to pay the government debt.

      I have serious doubts in option #2 – as most still think this is an actual free market.

      They’ve got bonds locked up with “squat for a return”, interest rates providing savers “net negative on cash” – and now the gold/silver market supressed via naked shorts etc – leading the heard to the only thing left – stocks.

      Then….”poof”! – All gone!

    • Forex Kong May 8, 2013 / 8:44 pm

      As well……with your JPY longs. Depending on your entries yes – it’s tough moving sideways….some 5 days now or more.

      Keep in mind – JPY “moving up as a market dynamic” will correlate with “risk” coming off, and likely stocks moving down. If you don’t hold a bearish view moving forward – consider where you stand.

      I am holding small JPY longs – with the ability to add, then add, then add, then add, then add if need be as – fundamentally….I will make good on this trade – no matter how long it takes.

      Hope it helps.

  2. schmederling May 9, 2013 / 1:57 pm

    Kong – the squeeze on the AUD/USD which has now been tracking a 24 weeks compression is very close to firing to the neg side – right on the cliff off falling over….. if the continued preasue moves into tonight & tomorrow this will fire negitive.

    I am preparing short positions AUD/USD….. it’s really close & I feel should this fire will generate a water-fall like move…..

    Cheers Schmed,

    • Forex Kong May 9, 2013 / 2:09 pm

      Schmed – last I remember, you where long til late summer!

      Jumpin round like a rabbit m’man – and now lookin to get short? – It’s “reactionary” buddy …as the move has clearly been made.

      I’d be lookin to get long AUD/USD – as this “massive wash out” today – looks to be exactly that. I advise walking awat from the computer for a couple hours – as nothing is gonna change in the next hour or so.

      I still see USD going lower – and this makes perfect sense today….as further downside expectation grows – time to flush the weak hands no?

      My USD/CAD short is only like……22 pips in the red, and I’m gonna watch AUD and NZD here this eve.

  3. schmederling May 9, 2013 / 3:13 pm

    Kong – backed out of this position slowely & sold all into the last peak & start of the decline last month. I have not taken a currency position since. Clearly nothing will change in the next little while – I am all cash in my currency account – will only take the short AUD position based of this fire that is looking Neg right now. It’s holding for the moment & may not fire to the down-side – just making note of the area & risk of the 26 week squeeze in the Aussie – should the fire negitive we will ride lower over the summer & reverse in late summer if it fires Neg that is. Right now I am sitting on the sideline respective to the currency trades… 🙂

    Thanks Schmed,

    • schmederling May 9, 2013 / 4:10 pm

      All I am saying is that I have noted the 26 week squeeze reaching the lower KC before a break & fire to the down-side. Does this mean this will happen no. It could very well bounce here & rally umtil late June or early July. However the risk in falling lower more so if this squeeze breaks negitive is there & on my radar of the time being. If we easy away from the neg fire then I will take the long side of the AUD/USD trade.

      Interesting times & just trying to stay nimble & not married to any one position – the market is also playing or testing things now, if the DXY is heading lower then these will run for another 4-8 weeks along with a expected bounce in the Aussie.

      With Soros shorting the Aussie however there could be more in the card from the expected action in this pair….only time will tell but the next week or so will lay the foundation for the summer….

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