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Submitted by Cameron Hanover
high school children LOL
Ten years ago I remember one of my >high school children< flipping me off and shouting F U and laying rubber with his new car (that he paid for at 16 !).
Everything depends on USD index, which in turn hinges on the FED's liquidity moves.
Despite ongoing POMO and QE2 announcement, all indicators pointed to a reversal of the USD index to the upside. Why not rely on the technicals and discard the FED, because QE2 is already "priced in"?
But, last Friday and today, after the reversal has started off quite convincingly (in Asian and European trading), it was suddenly cut off and turned around. And this occured now twice after having crossed critical resistance levels (of EUR/USD cross).
Because I was finally betting on USD index strenghtening, I have learnt today the hard way, what POMO means and how powerful it is.
Nevertheless, I will rather not trade at all than follow David Tepper's playbook. I leave the rally chasing mode to the machines. To that end, I have invested in a trend following quant fund. It performs like hell (I hope it can get out quickly enough when this USD devaluation complex crashes). Thanks, FED!
In this market, shorting is the expression of human dignity.
In this market, shorting is the expression of human dignity
I would say not playing is the way to preserve dignity. Why provide liquidity to the machine?
Important lesson from those Frogs about the real way to 'starve the beast'.
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