Barely two weeks ago when Bitcoin was trading at $53K I got a few messages from people telling me they should have bought the dip and of course now they had a bad case of FOMO-21.
As I head home on this one final plane ride, I’ll sign off with a chart of what’s happening right now in the natural gas futures:(more…)
I haven’t written a post since 1st September as I’ve been immersed in divorce paperwork again. (Note from Tim: again, this post is from Jack, not me; I’m not going through a divorce. As you might suspect, any woman who gets involved with me is greeted with 24 hours of delight and sunshine every day. I ask that you not confirm this, as it is surely self-evident. Thank you. I now return you to Mr. Springheel) That should all be finished within a few days, and that should be the last serious work that needs to be done in my quest to be single again, which will be a relief. This should therefore be the last long gap in my posts.
In my last post I was talking about the likely retracement to the mean move that I was expecting to see soon, and we have seen that move. The level I am using for that, the 45dma, is currently at 4462 and SPX is backtesting that from below at the moment, having delivered one of the only four retracements in the last eighteen months to deliver a retracement significantly below that.(more…)
Earlier today, I doubled my short position on Brazil fund EWZ (by way of long puts) since XLE has been such a train wreck (Thank YOU, TNRevolution). My timing was good, because shortly thereafter, for reasons I neither know nor care about, it broke intraday support.(more…)