I’m Still Not Ready – Entries Short Risk

Everything is moving along as suggested…just slower. Grinding away traders patience, mother market continues to keep you on your toes. A full 10 days now straight across the top as DOW and SPY continue to hang. The Nikkei has pushed “further” than expected, and Gold has not yet given a reason to re enter.

So……I don’t have a trade yet. No biggy but……I do like to stay active. How’d the last 10 days go holding longs? ( No money made ).

I plan to wait a touch longer ’til I see turns in both USD/JPY as well Gold….both in rather “stretched cycles”. As it stands Gold should have formally bottomed days ago so…..everything prolonged. Everything stretched.

So it goes at times….we can only make plans for the future “as we imagine it”.

With the French election out-of-the-way, and now seeing the market reaction as “completely unamused”, I continue to hold tight in cash ’til I see something “convincing” turn my head.

Tech stocks still performing well this a.m as well so no real reason to jump out on the playing field here today!

Forex_Kong_Focused

 

 

 

 

 

7 Responses

  1. Danno May 8, 2017 / 4:01 pm

    Thank you…seems like market knows it should go down yet too stubborn….Central Banks holding this up? thanks as always for your insights.

    • Forex Kong May 8, 2017 / 7:16 pm

      Its a grind here no question as……the vast majority of retail investors are “just now” considering things are looking good.

      I assume the boys on Wall St. will continue to keep things elevated to the best of their abilities but, also I question that larger forces ( geo political ) may push things over.

      I’m going to wait another day but USD/JPY now around 113 is getting ripe for the picking!

  2. Pale Hermit May 9, 2017 / 9:27 am

    Jpy carry trades 😤

  3. RIchard May 11, 2017 / 12:09 pm

    Does it look like the moment is here now? Nikkei breaking down from H&S. hopefully the market vomits and the USDJPY breaks down from a double top.

  4. Danno May 12, 2017 / 2:02 pm

    Any change of sentiment after today’s numbers?

  5. tas May 12, 2017 / 10:13 pm

    Holy shite, seeing the us data coming this week i thought it might have pushed it down a little… Then fed heads still talking about more rate rises?? seems suicidal? Good for the shorts i guess, but fucked for the everyday person living there.

  6. Mats May 14, 2017 / 10:14 am

    Hi Kong,

    do you think the gold/silver turnaround is just a short bounce or is it a major change in direction?

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