This market remains extremely difficult to trade with big volatility as a result of the market being a slave to economic news especially European news and central banks. In short the market is like a drug addict or crack whore while the central banks are the drug dealers. The market has been reacting violently with strong short term moves both to the upside and downside since the June low on any mention or hint of quantitative easing from European central banks or the us Fed. Even though the market is up nicely off the June lows, it has made swing trading difficult for most traders unless you just bought in early June and held your nose.
We have had a lot of great trade ideas and most of them have provided profitable trades (both longs and shorts), however the traders who have done the best are the ones who have taken profits quickly - this is a market , using a baseball analogy, it has been best to shoot for singles rather than home runs.
The short trades that I provided last week provided winning trades and have bounced back on Friday, however for now they still remain viable.
We of course also have a slew of long trade ideas, please visit our website and sign up to our free newsletter in order to see our trade ideas
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