Thursday, June 13, 2013

Spinning Heads

Another day at the casino, some wild swings for sure and don't be surprised to see more wild volatility ahead. What a bounce in the US stock Markets, for now I'll call it a dead cat bounce and I expect more downside in the days and weeks to come. Keep your eyes on Japan and the US bond market, it very well could be a long, tiring summer. I am posting charts on  several markets this evening, they are all hourly charts because I would like you to see just how wicked the markets were today. Yes they are all bunched together and I am not going to comment on them all because I simply am not going to try and predict what happens next, I am exhausted at the moment!




If you are trading futures, you can get wiped out in minutes if you are not paying close attention!

Just look at the last move in the Yen, just when you think it is going to start to fall, BAM!

Lastly, I would like to speak about Gold, no, it did not break above 1400 like I thought it would, please see my comments from last night's post. I truly believe that we are at the turning point with Gold and it will start to move higher, simply because the US dollar looks as bad as it has looked in more than 2 years and I think stocks are finally starting to lose their luster. With all the craziness going on with the financial markets, I feel Gold will start to garner some more attention.

Please read Trader Dan's last post from this afternoon. Again, I have been reading him since 2003 and I think very very highly of him, they do not come better than him!
http://traderdannorcini.blogspot.com/2013/06/japanese-yen-carry-trade-continues-to.html

Good Night
Martin

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