Current positions :
FLAT in Gold , waiting for longer term levels to get long again $930 down to $918 level.
SHORT Randgold Resources, overbought & completed Up-profile from Oct 08 > target 4150
SHORT Next : met short covering target at midpoint of selloff 1660 > longterm trade targets 1100
as long as stays below 1635. Short term Profile looks balanced at 1520 , I am looking for a new distribution to start from this high volume midpoint.
LONG Gilts : This is more a RSI divergence bullish stochastic trade than a profile set up. JUL08
profile is bullish though.
I am fundamentally disposed towards an equity selloff starting again, and bonds having a retracement rally; far too many bears on bonds at the moment.
An interesting aside: I am watching GM trade on the pink sheets - I have a small short position
and it has been fascinating to watch it rally by 100%+ on high volume against all logic. Reading
the posts on google is a lesson in market dynamics & psychology- the emotional level of passion and self-righteousness that stock trading brings out in people! On one side you have the logicians who point out that GM will go to zero because debts far outweigh assets so under bankrupcy law common stockholders will get nothing! On the other side are those who are buying the stock because its going up! For those who wish to live on the edge, you can get your kicks, make money & pick apart the logicians - brilliant! I love markets........
Good trading-
the objective analyser.
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