Fade This Move – The Turn Is Near

So the jobs report out of the U.S this morning is literally “beyond horrible” – yet…..initial reactions across the board have people partying in the streets.

What could possibly be discerned from such an absolutely dismal report that would see equities/risk futures “burst higher” ?

The disconnect from any rational evaluation of fundamental economic principles and this “euphoric bliss” has now truly taken on a life of its own.

I will be fading this action no question, and will be initiating trades “after the dust settles” as suggested previously, in that we cannot be far from a major turn.

This “turn” will have a seriously “long USD / short risk” vibe.

Unreal.

13 Responses

  1. Plpl@gmail.com October 22, 2013 / 8:00 am

    I hope you are wrong, and that this shitty piece of novo ordo seclorum piece of crap gets killed and people rush on gold.

    • Forex Kong October 22, 2013 / 8:12 am

      It takes like “a day” for the dust to settle guys.

      I’m targeting anything that “ripped” here this morning , and will look to place orders “under / over” current market action – allowing the market to come to me.

      If you’ve already initiated trades “thinking” you’ll pick this off…..you’re about 12 – 20 hours too soon.

  2. Jworthy October 22, 2013 / 8:51 am

    Did you see the unbelievable statement from Goldman (published on Zerohedge) about how nothing could go wrong today?

    “Any positive number will be discounted because it came before the DC theatrics and if it’s weak it confirms that tapering should be put off longer.”

    #crazy

  3. Jworthy October 22, 2013 / 8:52 am

    Did you see the unbelievable statement from Goldman (published on Zerohedge) about today’s data?

    “Any positive number will be discounted because it came before the DC theatrics and if it’s weak it confirms that tapering should be put off longer.”

    #crazy

    • Forex Kong October 22, 2013 / 9:37 am

      Crazy no doubt……

      I’m just back in from the gym etc…..and will re evaluate / post pronto.

  4. JSkogs October 22, 2013 / 9:51 am

    Ya this move is looking blow-offy and now it looks like people are using the move to unload. Wouldn’t be surprised if closing is much much lower than HOD. I held my small long USD position against NZD and the ES short from Friday. Obviously they are offside but at this point I don’t have much to worry about. I”ll keep the ES short and later today or tomorrow I will get more serious about USD longs and Yen longs

    • Forex Kong October 22, 2013 / 10:15 am

      You’ve got a cool head JSKogs – perfect plan if you ask me.

      I’ve got a couple feelers out there, but for the most part an sitting in a fantastic position to take advantage “when” this does indeed blow off.

      If I was thinking AUD / risk may have been overbought 24 hours ago – well……..that idea just got stronger.

      Small orders over time in pretty much every pair outlined in previous post – looking good to me!

      • JSkogs October 22, 2013 / 10:38 am

        Thanks for the feedback, Kong. Seems your blog is gaining mass. You deserve it. It’s a great place to pick up knowledge and share. Enjoy the day.

        • Forex Kong October 22, 2013 / 10:42 am

          Power too you man.

          The blog takes alot more time and effort than I originally imagined….coming up on the 1 year anniversary end of Oct.

          It’s great to see we’ve got some seriously educated and talented investors / traders here now. I hope everyone has opportunity to learn from each other.

          Keep up the great work / trading man!

  5. Alex Clyde October 22, 2013 / 9:54 am

    Hi there. Firstly, love the blog, it’s becoming a staple read – insightful and contrarian amongst the nonsense and insanity. I have gone in quite heavy long EURAUD and short SPX tonight (in Australia). My analysis points to weakness in risk assets ahead and so far so good (as I’m writing this). It will be quite telling if the market has a bearish close/reversal after these poor numbers (BTFD etc). If I am stopped I will be watching to re-enter, as this market is just ridiculously over-extended.

    • Forex Kong October 22, 2013 / 10:12 am

      Now here is a man with his head screwed on right!

      Note to other readers: ” If I am stopped I will be watching to re-enter, as this market is just ridiculously over-extended.”

      The man has a plan……a “vision” as to “what might happen” and plans for the outcome either way!

      With a plan in mind ( weather it is successful or not ) a trader is able to “live to trade another day”.

      Fantastic Alex! Great having you onboard!

      • Alex Clyde October 22, 2013 / 10:40 am

        Absolutely “plan your trade and trade your plan”. Interesting times ahead, many opportunities.

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