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Stolper 2.0 Strikes Again: Bank of America Stopped Out Of EURUSD Short, GBPNZD Long
Remember MacNeil Curry...
...aka the second coming of Tom Stolper (even if he has a way to go to catch up to Dennis Gartman), aka the FX gift that keeps on giving? Well, he just gave another FX gift.
Stopped out of €/$ short as $/CAD probes pivotal support
We have been stopped out of our €/$ short on the overnight push above 1.1392. This break points to a larger upward correction than anticipated and further gains for a test of 1.1534/1.1538 resistance (Feb-03 high and 10m trendline). While this may be a near-term sticking point, absent a break below 1.1156 (old channel resistance, now support), stay bullish for a push towards 1.1675/1.1811, potentially the 200d at 1.1961 before renewed signs of stalling. Back below 1.1156 says the correction is over. Meanwhile, $/CAD is testing pivotal long-term support at the 1.1909/1.1915 area. While this is a very late stage decline, this support zone is unlikely to hold for long, given the weakened state of the US $. Indeed, a break below 1.1909 clears the way for a test of the 200d at 1.1764 before renewed basing.
This follows the following just as precious gift from the past two days:
- Stopped out of £/NZD long at 2.0830 (short at 2.11493 (avg) from May-12)
And now we look for the last current reco by Stolper, pardon Curry, to also go in our favor: the stopping out of BofA's long USDJPY reco from April 22 when the Dollar-Yen slides under 118.32.
What makes us nervous however is this:
Gold has resumed its 2m uptrend following the overnight break of 1208/1217 (1.5m range trade/bull flag formation & 200d MA). This 1208/1217 zone should now act as support on pullbacks. Stay bullish for a push towards 1250 and eventually 1307/1345.
Next up: another gold crash. In retrospect, being able to buy more physical at a lower price in a world in which central banks now own $22 trillion in debt is preferable.
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i havnt read one word of this....but i would bitch slap that mutherfucker all day long....i said alllll dayyyy lonnnngggg...
BofA will likely be having some more of those one time charges for a lawsuit in their future......
still a bargain at $1350
Gold bitches!
The word Curry made me go get food.
Funny, I've stopped out paying my BOA mortgage
Macneil Curry. Is that made with lamb or Scotsmen?
That pius, vacuous look on his shiny face speaks volumes
He is nipping at the heels of dennis"I'm not an analyst, but I play one on t.v." gartman though.....
And I got over 10 thumbs down for mentioning Harry Dent saying gold will rally to around 1300 before continuing with decline to sub 1000.
Such is human bias.
If I am the one saying it, I get thumbs down.
If Tyler Durden is the one saying it, he gets cheers and several stupid comments.
At least him and Stolper were only guessing