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Trade Against The Retail Herd 15th Mar
What's new today?
Some big moving news events today with the release of the German ZEW Eco Sentiment at 06:00 EST which is likely to have an impact on all EUR crosses if we have a deviation from consensus. Out of the US we have the TIC report released at 09:00 EST and the big one is the FOMC Statement at 14:15 EST. We're seeing some USD strength at the time of writing (03:00 EST) the major news events will decide if there is some follow through or otherwise on this. There are no major changes in the positioning in the report, worth noting is that retail long positions in AUDUSD have made a considerable increase from yesterday as we see some strong selling here in the early going.
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Provided by Pivotfarm via the Technical Analysis blog
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One must wonder if this Japan event can cause a crisis for the USD that Russell has talked about leading to a significant jump in gold prices?
Turk is now calling for $8000 gold!
http://goldandsilverlinings.com/?p=239
Gold and Silver are currently getting hammered in the flight to safety (ie. get your money out of the markets into cash) ...this could be the correction we need in the PM's to set up a nice run to new June highs ...or it could be 'The End' of the run in precious metals (and all the entire Commodity complex) altogether ...right now bloody hard to judge!
Much prefer to trade against (short) the US Govt, US banks, US property, US ethanol, US healthcare, US military and US transport (GM, AmTrak etc) and everything the close to insolvent US Govt and its crones prop up with money it has no longer got...
...feels morally so much better profiting from these parasites demise too... shorts away ;))
Pivotfarm - any chance we could have 'Short the Sheisters" articles, be alot more popular on ZH for sure!
Last i checked the retail herd was stampeding to the exits
Yep, and looks like Obumma, Gitner and Benny the Bean are going to get trampled on in the stampede shouting "All Is Well" near the Exits .....know a good Doctor, they're going to need one???
The yen may have twisted the knot in regard to its major counter-pairs.
Watch for a decoupling between the action in the USDJPY and the EURJPY. The blowback could be vicious both ways, with the USD ramping and the Euro plunging against the yen.
These days, we are in for quite an education. It should be fascinating.
Best of luck trading to all!