I am still without power but in the last two days have gotten to civilization (and internet access) to mail out NFTRH159 to subscribers, patched the roof (may have an alternative career as a roofer if this market thing doesn't work out:-)), finally got the propane guys here and got the gennie back up and made it to my alternate office, which is now back up and running, to get a couple email updates out to subscribers this morning.
On that last point, parameters were layed out for HUI, SPX, Gold, Silver & Copper and thus far these things have been right on. It is hard enough managing markets when you have all your tools handy, but geez, this has been a test of will and methodology. I think NFTRH is passing the test.
As noted previously, the markets are making great sense.
Have a game plan, have fallback plans, have perspective, patience and a no b/s attitude. Well, you can have whatever you want. But these would be among my recommendations.
Today has been a good day, because the markets are on plan thus far.
http://www.biiwii.blogspot.com
I strongly suspect the copper-silver-gold collapse today happened because the CME traders who used to get cleared by MF Global have now been forced to liquidate-only status. Not cuzza Greece.
ReplyDeletePretty stunning that all that overbought got worked off in one day. I personally follow the EMA(8), and everything still looks good - except silver and the silver miners (and GDXJ, the ETF of silver miners). Some majors (YRI, MFL) even closed *up* today. Weird, huh?
Things in the markets are still moving too fast though. It's as if Berlusconi is right, and all traders have turned into a bunch of coked-up lunatics who either buy like crazy or sell like crazy.
I'm personally wondering what your opinion of Sabina is right now. I think it's just nuts that it collapsed all the way to $3, and then flew all the way back up to $4.50. What's up with that?
Markets are beautiful right now. At least insofar as a rigged, gamed looney bin can be beautiful. Supports were hit and bounced in the PMs and hit and stewed upon in the broads. This was critical to extending the rally, which was way over bought by the coked up lunatics you wrote about. Crack, you gotta love it.
ReplyDeleteI like Sabina. Liked it at 5, liked it at 3, and like it now at 4.