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I’ve got 50 short positions, and every single one of them is profitable. I am increasing their size where appropriate. What surprised me is that my biggest cash winner hasn’t been some zany high-tech or unicorn, but a boring old movie theater company. There is profit in popcorn.
Because it’s so important to see this correctly and not pretend we (well, I) know more than we (I) actually do I find it important to look at pictorial representations of history and think about them when I get some quiet time (ha ha ha, like not on Twitter, not reading financial/gold websites and most certainly not watching TeeVee finance and news).
So I am thinking about the Commitments of Traders alignment with respect to the gold price once again. That would be the same CoT that has doggedly hung a poor risk vs. reward sign out over the sector from a sentiment standpoint since the summer.
(more…)This day played out precisely as I hoped, in spite of admonishments from Slopers about how this day was virtually guaranteed to be a big “up” day. Price gap resistance held beautifully in both NQ and ES:
The announcement from the Fed members, who must have the easiest job on the face of the Earth, is out (“no change, we’ll keep an eye on things, you betcha“) and the response is……….muted. Regardez vous sil vous plait
