Everything is bouncing back up, euro, crude oil, stocks, everything except bonds on the Greece didn't blow up the world relief rally. I am slightly bearish on this market, but not enough to take a position. Will remain short crude oil for a while barring any unforseen movements.
Thursday, February 5, 2015
Greek Fake Out
Whose idea was it to come out with the ECB Greece news with 30 minutes left in the trading session? These news releases are not random. There are higher ups that are screwing around with the markets, taking positions to profit off these kind of news bombs. Anyway, as you can see by today's trading action, no one really cares about Greece anymore. Selloffs based on Greece news don't have any staying power. It is old news. And most with real money to manage could care less, except to use the dips as buying opportunities.
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8 comments:
Oil hit your target of 47 overnight.
The volatility is amazing in oil these days. Forget about the 47, I want to try to hold this short oil position as long as I can. I really think there is a big edge in being short for the next 2 weeks. I could be wrong, but based on COT data, open interest remaining very high, think odds favor the sell side.
That's crazy to think oil will make a new low after it bounces from 43 to 52.
Data or no data.
Call me crazy then. haha.
You think we will test the old highs here in the cash equity market or just start going back down starting from today/tomorrow?
Long a little BABA @ 86.78
Short some RL @ 142.38
I think we will start going down soon. Don't know if its today or tomorrow, but soon. We are near top of the choppy range. I think we stay range bound for at least another week.
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