You guys are gonna hate me...trying to catch a falling knife

[swissaustrian]

It had the feeling of some real players saying, "Let's see if we can shake lose shorts who put on their trades yesterday, then at noon let's close out the attempt to push it higher, eat lunch, and come back and get on the short train."

It was a commodity rally all over the board.
Maybe we see another low on monday but i wouldn´t hold my shorts overnight anylonger. I held them from monday @ $ 45,5 until today @ $ 35,5 and made 223 % but i´m surely not going to risk exposing my gains to a sunday night Asia market. That´s the perfect storm. You never know what happens then (see one week ago).

 

[Michael P]

The dollar popped on the "Greece possibly leaving the EU" news.

 

[swissaustrian]

The dollar popped on the "Greece possibly leaving the EU" news.

It´s said they wanna leave the monetary union only, not the political.

 

[Jordan]

Volume is pretty low given recent volatility. No one wants to make any major moves ahead of a weekend, it seems.

 

[Seraphim]

Which would create short term weakness for the euro, but long term strength.

It´s said they wanna leave the monetary union only, not the political.

 

[swissaustrian]

Which would create short term weakness for the euro, but long term strength.

Yep i would like to see that move too.
But such a move would probably be the first nail in the coffin of the EU. The Germans and French will never allow this in the foreseeable future. It´s going to happen anyway but i think i will take further time and economic disruption. I wonder when the German people finally wake up and realize that they pay for the fiscal irresponsibility of the PIGS and the losses of the German banks who hold the PIGS-bonds. Reggie Middleton has a great piece about this:
http://www.zerohedge.com/article/th...ualize-contagion-causes-european-bank-failure

A Pic says more than 1000 words:

 

[Cowlesy]

By 'cut a bit' I meant blood violently shooting out of my wrists - Down over 7%!


Edit at 10:28AM: Now down over 10%!
Edit at 10:29AM: Now down over 11%!

So I got torched on this trade. Just got out of it today. I was in at I think $21.20 --- was grinning when it was at $24.30, and was a face when I closed out at $19.75.

 

[jbrace]

started new thread