A reversal on the DOLLAR seems inverse to STOCKS and Metals
in other words
the DOLLAR looks ready to RALLY
stocks and metals look ready to drop
Thanks for the Support, great comments
& links to other sites of relevance
Sam :: You can see how wordy those guys get just to make one point.
It seems that if they dont give LONG winded explanations,
they are worth buying their mkt letters
A trading LOw might run over to Monday,
but it will be very hard FOR ME to hold over the wkend
258bars cycle on Monday @ 1pm
And 1pm is a typical turn on the hourly
10am low on 60 bars came in a little late but the 6/3
bars have been about 15 minutes late also.
more later
Jay
7 comments:
Jay,
It means today and tomorrow are down days.
Thanks
Reza
Looks like a rally in the making!!!
I don't think so. It looks like this rally is just about finished midday like Jay predicted. Should sart churning sideways to down now.
Billy
Billy
thanks for keeping the BULLS penned in < [ggg]
AS mentioned by IU
when you have NO road MAP , its impossible to know which road the market is going to take.
and its very easy to get PUSHED and PULLEd by a rally when your holding short, and vice versa.
Jay
WAITING is NOT easy
Jay,
I am still holding FAZ, what do u think
arent we speculating overly and blaming bulls or bears instead of being cold and analytical.
Jay and other guys let us focus on merging tech analysis and astro indicators and try to make a point instead of writing guesstimates and useless words that mean nothing. We have big stakes and cant play on gamble.
Great work Jay I admire you.
Reza,
At great expense I've learned that Direxion X3 ETFs should only be day traded. And should only be played in momentum moves, if your not shorting them. You risk loss holding overnight, especially in a low trending scenario. These ETFs operate in a time domain that erodes it's price.
The smart trader will short FAS if financials are moving down, and will short FAZ if financials are moving up. This takes advantage of the price erosion over time.
Not for IRAs, due to the minimum 2 day purchase settlement period (can't short).
I wish you the best in trading.
Coy
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