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Maybe it's just that simple. I am starting to struggle psychologically. I've been long various instruments for years, and things should correct soon. But that might take a while... Cognitive bias is a bad thing, I have to pull myself together.
The Dollar Index is at major support, it will be interesting to see if it can push through and down to the 60's. Hopefully it will, that will buy me a few more Big Macs when I return next year...
I can see Crude taking a dive, though... But, as you say, this might just be start of the next bull market, with everything going up, while the buying power of the public plummets...
The only thing I am fairly confident of, is that the volatility is here to stay... Thus my main trading focus will be on that...
That's the problem with democracies; people get what they deserve... Bernanke is irrelevant, these decisions are not made in a vacuum by the Chairman... He is just put there, so simpletons like myself have someone to make fun of...
Hayek, although being my favorite economist, is dead and buried. Not even his Nobel Prize could get him taken seriously enough in the right circles... His theories appear counterintuitive to most, and will not be taken into consideration until the welfare society ends, if it ever does.
As for "stupid cartoon", you must remember that the epitome of intelligence is wit... Whether or not the video falls under that category, is up for debate, I guess...
We can debate whether the apparent incompetence is due to the powers that be having no clue as to how to fix the problem, or that they are inherently corrupt... It really doesn't matter, the outcome is the same...
The major problem is that our societies are founded on economic principles that require perpetual growth. This does not bode well with the markets inherent desire to have "cleansing periods", thus efficiently correcting excess. Instead "we" throw more money at the problems, creating even more excess and unbalance. At some point, at least logic dictates, this will no longer be possible and the correction will be far more severe than it needed to be...
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
The biggest sell signal was just shot across the bow, lol. This just in... Barton Biggs is bullish on stocks.
But he does bring up a good point that the next QE will most likely have a very different look to it. He predicts the Fed will buy mortgages and... residential RE?
What an amazing day. It's incredible how fast the ES moves, it's almost like trading oil. Oil down substantially today as well... How nice it is to just ride everything down...
But could this be a day with an afternoon rally? Is the ES building a base here, or is it just trapping longs..?
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863
Tough to say. I guess it depends on the way you're trading. Market sold off hard retraced to the 61.8 and appears to be dropping again. This is amazing though! ES is replacing CL, lol!