wound up taking 50%off this am. sat and watched the rest of the day.
if the broads have made some kind of top or are topping here, they will bring the metals
down w/them, i have seen this too many times to think otherwise.
87 i was very short sp futures and lightly long the miners.
comes to mind
dharma
didnt the general market top out in 1987 on this day august 25?
yes, i believe it top today, then it rallied and made a lower high in sept.87 and that was your signal. i shorted it w/futures contracts.
i am looking to get back to 100% long in the trading account over the next couple of days. providing that certain points are not violated.i am still looking @mid sept for the highs. seems market vane has reported fewer bulls, which is a bullish thing for a trader in this sector
as an aside putting bernake in for 4more years insures the demise of the dollar for longer term investors in this sector. obama having anounced higher deficits than expected, must make the chinese feel uncomfortable w/their dollar investments. so diversifying out of dollars and into raw materials is more of a long term play for them. doesnt seem that they are concerned w/the next quarter, but they seem to think in terms of years. and so do i. i am in this sector knowing full well the history of fiat currencies. and the dollar will not be the lone exception, putting bernake in there pretty much insures that. dharma.
Edited by dharma, 26 August 2009 - 09:21 AM.