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Sigh. I did it again. Great chartist, lousy trader. A couple of weeks back, I entered a long position on FXI March puts. On January 25, I sold them at a loss, and I felt good about that for exactly one day, since FXI went up more. You know what happened next. My puts are up over 70%, and I am absolutely certain they’ll at least reach the target I established in the first place, which is the gap at 29.54. Feh!
Good morning, fellow Slopers, and welcome to a new trading week. In sharp contrast with last week, this one will be very light on………..everything. We don’t have an avalanche of economic data, the FOMC, the jobs report, or a billion earnings to deal with. We’ve gone from waiting breathlessly for the likes of AMZN and AAPL and instead contend merely with big white balloons being shot down by F-22s and earnings data from such nobodies as Vertex and Mettler-Toledo.
Right from the Sunday open, equities have been slowly slipping lower, although, in typical fashion, the sugar-addicted bulls have been trying to bid things up for the past few hours.
