The recovery trade - stopped out, what's next?
Was this past sell off and the violent bounce just a wash out of weak "recovery trade" longs?
We have seen all classical reflation/recovery trades do the same thing; stop people out, creating huge frustration.
Copper, still below the long term trend, but what a round trip.
Oil has gone from puke to must have, bouncing right on the trend line.Russell saw another perfect bounce on range lows.The only reflation trade that has done absolutely nothing is bonds.
We have seen all classical reflation/recovery trades do the same thing; stop people out, creating huge frustration.
Copper, still below the long term trend, but what a round trip.
Oil has gone from puke to must have, bouncing right on the trend line.Russell saw another perfect bounce on range lows.The only reflation trade that has done absolutely nothing is bonds.