Friday, September 11, 2009

WHERE ARE WE

Regurgitation of this week is simple. CHOP CHOP. Second line traders holding the fort until the reinforcements arrive fresh Monday at there battle stations.

What will a full trading desk look like Monday....I suspect NONE of you know. But one thing seems certain we are nearing a significant pullback...Dollar....Gold.....Oil. Tired looking market, Destroyed shorts...all Screaming for a good washing......rinsing .....and repeating.

As discussed briefly yesterday we are in a NO BID market. Will GS continue to grind the market up. Who the fock cares. Really .....are you going to bet against them. EXACTLY. They have accomplished their intent. Market stabilization. So now its time to take care of some unfinished details(see above). Its a little too easy to say it all begins monday but it might. My feeling is we get another chop week with the chops more severe. So watch your trades and let um pull this pig down on their own schedule. For a more eloquent delivery of this message hit this link.
http://jessescrossroadscafe.blogspot.com/

3 comments:

  1. There is an iterim bounce on USD here, so I went short solar with an upside hedge on homebuilders in case of continued upside. If they want to dance, bring it on. That is a one to two day swing trade, I'm playing the currency effect on the market in general. GS and DB quants are not the only ones who can play.

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  2. Check out the H&S in oil and BKX, and the potential bottoming of SEF. I don't watch the bond markets but I hear tell they're showing some oddity as well.. Message board bulls are kicking more sand than usual..

    Oh and we're launching a trade war with China (no really go look). China could decide to default on those derivatives after all and soak up a lot of the blame for P3.

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  3. http://www.upi.com/Business_News/2009/09/12/China-US-tire-tariff-protectionist/UPI-66781252758243/

    "Yao reportedly said China reserves the right to take retaliatory measures to protect the interests of its companies."

    Black swan?

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