The jobs report came out this morning, and I am surrounded by a sea of deliciously red digits. The Euro, shown below, continues to get utterly obliterated (cough cough Slope+ readers cough cough) and it seems a foregone conclusion, with jobs surging and the unemployment rate low again, that this little zero interest rate party is only months away from a permanent cessation.
In case you missed this subtle little character point, I really like shorting stuff. What breaks my heart is that I didn’t short the Euro and just stick with it for the past year. I was watching the triangle below for a long time, but when it broke beneath the triangle, I talked myself out of the trade since it had already gone down so far. Well, umm, it didn’t really matter, did it? Because when you’re dealing with monster-huge patterns, the power behind them can make the moves already in place to be immaterial. Try to remember this, and I’ll do the same.