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I am having a beast of a time looking at indexes. They are completely in no man's land; there is no clear direction either up or down. If I was looking for a bearish opportunity, I guess the $MID would take the winning spot, only because its chart is cleanest to me.
By the way, could someone – anyone – please explain to me why EUR/USD is going gangbusters………
…..all things related to oil and commodities aren't doing a damn thing?
Huh??
In spite of the EUR/USD showing strength, DBA continues to wither away, and I got stopped out. Even during overall market strength, DBA just dithered around. I'm done with this. I've got bigger fish to fry.
Of my three portfolios, only one of them – – my IRA, which is entirely in formerly-battered long issues – – is doing anything interesting. In fact, in just the few days since I established these positions, about a third of them are already up double digits.
My other two portfolios are doing jack-squat. Day after day, they don't really move in value. Sure, there are intraday ups and downs, but other than that, they are totally moribund. Feh.
I'm going to let these "long shots" continue their run until the market seems to have fully retraced, which I think is many, many weeks off. I am seriously thinking I could be looking at a triple digit gain before it's all over. We shall see…….. (reminder: these symbols are in my Long Stocks (High Risk) watch list, on the right column).
Since I have absolutely nothing new to say, I lean back on a hard-to-find classic.
It's time to watch a pattern that may or may not fail again. This one's a doozy. Push above 920, and we're on our way to the promised land (target: 1100). But, meh, it's in formation, and it doesn't mean squat until it's soup.
