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Monday could be down - Mnuchin blew it: "no scheduled meeting"


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#41 dTraderB

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Posted 13 May 2019 - 01:39 PM

BS flying fast & furious ... but who cares? Just trade the market, forget why it's going up or down and do not try to interpret. 

 

Pure Price Action, no news etc, always works

 

Go fully short IF AND WHEN the market does NOT respond to tweets from politicians....

 

ZEROHEDGE is the complete opposite of dachief: always bearish, bearer of bearish news

 

zerohedge @zerohedge
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Trump, Mnuchin Fail To Spark Meaningful Bounce In Stocks

 

2019-05-13_11-27-55.jpg?itok=6_MWWLWv

 

TRUMP SAYS HE WILL MEET XI AND PUTIN AT G20

 

TRUMP SAYS U.S. HAD A DEAL WITH CHINA, HE SAYS IT WAS 95 PERCENT THERE

 

TRUMP SAYS U.S.-CHINA MEETING AT G20 COULD BE FRUITFUL

translated: "please buy"



#42 hhh

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Posted 13 May 2019 - 01:50 PM

You can't trade "pure price action" and "Go fully short IF AND WHEN the market does NOT respond to tweets from politicians." These are contradictory.



#43 CLK

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Posted 13 May 2019 - 03:08 PM

Only one can save this now is the Fed cutting rates by 1/2 point. Trump is done, nothing he can do except terminate tariffs for good, not going to happen. I'm convinced this will go 10%, maybe even an outlier 15% correction. 

We may or may not see the gap fill this week, closed near the lows so most likely up day tomorrow, but could be crash mode only now.



#44 dTraderB

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Posted 13 May 2019 - 03:21 PM

I need to rest a few hours, want to catch open of the European session 



#45 dTraderB

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Posted 13 May 2019 - 03:22 PM

Helene Meisler @hmeisler
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On pace for the worst May in 50 yrs. Weren't we just off to the best start of the year since 1928 or something like that?

1:03 PM - 13 May 2019


#46 dTraderB

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Posted 13 May 2019 - 03:24 PM

Only one can save this now is the Fed cutting rates by 1/2 point. Trump is done, nothing he can do except terminate tariffs for good, not going to happen. I'm convinced this will go 10%, maybe even an outlier 15% correction. 

We may or may not see the gap fill this week, closed near the lows so most likely up day tomorrow, but could be crash mode only now.

 

The FED may have limited LASTING impact, like pushing on a string. 

and/or

Trump can settle for a less favorable deal - this is the most likely outcome

and/or

China can play hardball, Trump can also do that, and the result will be a global economic disaster.



#47 CLK

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Posted 13 May 2019 - 03:43 PM

 

Only one can save this now is the Fed cutting rates by 1/2 point. Trump is done, nothing he can do except terminate tariffs for good, not going to happen. I'm convinced this will go 10%, maybe even an outlier 15% correction. 

We may or may not see the gap fill this week, closed near the lows so most likely up day tomorrow, but could be crash mode only now.

 

The FED may have limited LASTING impact, like pushing on a string. 

and/or

Trump can settle for a less favorable deal - this is the most likely outcome

and/or

China can play hardball, Trump can also do that, and the result will be a global economic disaster.

 

 

 

While Trump ended up making a lot of money, he made many mistakes leading to multiple bankruptcies, that may be what he is doing again

stubbornly running the country into the ground, until someone has to bail him out.

Someone posted about the tariff act in 1930.

 

https://www.britanni...wley-Tariff-Act



#48 cycletimer

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Posted 14 May 2019 - 09:15 PM

Cycletimer
 
Yes,  It has became a traders market for sure.  An environment I do much better at, Then throw in the extreme volatility and wha-la...  Timing suggest this will continue into the first week of June when I believe the trad-able bottom will come into play.
 
On a side not cycles say next week will be the big buy (Swing Trade) in Gold. Between the 14th and the 17th.  Thinking 1274 might be the sweet spot but a quick swoosh to 1255 would fit the charts better. A leap there will be a nice investment IMHO.
 
Bonds are on the same cycle with one more decline next week with the Long Bond trading down to 147.25 ish then targeting 151...


Opinionated,
Just now getting back with you. I was busy yesterday (went 30% Long in various ETF’s) and today (decided it best to exit them all late this afternoon, went home flat again).
I have May 22nd and June 5th as key dates for turns. Bradley date is May 17th but that is always + or - a trading day.
I do plan to scale into a fully Long position between May 22 and June 5 in anticipation of another rally (10% upside in magnitude) into July.
Wish me luck. CT