Friday, June 24, 2016

What a Fakeout

Everything before these Brexit vote numbers came out hinted at a remain, especially the S&P and GBPUSD.  Sometimes it is better to be lucky than good.  Didn't expect this, and I am taking the gifthorse and closing out my position.  I am not going to go long, but if we can panic down a bit more over the next few days, I will buy long for a quick trade.

It will get interesting over the next few days, even though this Brexit itself is almost meaningless there will be those who panic out of sheer price action, unable to take losses, i.e., hedge funds.


MM111 said...

Damn closed short at 2112. The 2127 surge put me off :(

Anonymous said...

Congratulation Market Owl ! Even if this event was unexpected, it was not an easy trade. Unfortunately, I closed my short last week.

Market Owl said...

Thanks. Sometimes better lucky than good. Will have to trade better next time.