Those of you following the posts and comments yesterday were clear on the theme:
- The EUR/USD rise was, I felt, nearly completion, and the dollar's strength would resume soon
- …..therefore, energies would start to weaken……….
- …..and gold would weaken
- ……and, based on retracement levels, I was "too nervous" to hold equity puts
I wake up (late….) this morning to dollar up, gold down, and oil down. Good! I did, late yesterday, get a medium-size position (5 contracts) on the S&P 500 which is obviously getting clobbered this morning, but given the nature of the retracements I am observing (perfectly up to the trendline), I'm not disheartened.
