This is a poor trader's market in my opinion. Unless of course you have been buying all small dips and holding on till the close, which has worked almost every time. If anyone were to take a break or a holiday, now would be the time. I see no good opportunities on either the long or short side for the near future. Sometimes it is best just to do nothing or take a break.
The ADP numbers are coming out in a few minutes, they aren't that great of a forecast for the nonfarm payrolls so don't extract too much information from the data. I think we are going down today, but with the lackluster action, I doubt it will be for more than a few points.
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Do you think we are going to 1200 starting next week? It's looking more like it every day.
Long TRMA @ 2.19
OD
I think so.
I think 1200 is definitely possible next week. That's just 25 points away.
Ok that's fine. I knew it's coming. I think the largest player in the market right now is the FED.
With the value of the dollar decreasing, deficit growing larger, it only makes sense that the value of us assets in nominal terms has to go up.
This is an inflationary period right before they start hiking up interest rates. It's like a no win situation. You can't hike interest rates because demand is weak but you can't let prices of assets fall as well either.
The only way out of this is for the US to start a war somewhere and cause further global instability but a flight to the dollar. JUst my opinion.
US is like a guy with a credit card maxed out who keeps opening up new accounts to pay off his maxed account.
To tell you the truth March is I believe the only month I started losing money because I went massively short. With zero interest rates the dollar is not worth shit and it makes sense that stock prices which are valued in dollars need to go up because they like you know some of them like make money in other countries.
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