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Last Day of Mess - June 28, 2012
As I write, IWM futures have lost half the ground they gained yesterday. Keeping overnight positions is more perilous than ever with the ongoing EU mess and the coming erratic vacations doldrums. The Obama Care ruling is maybe already discounted. Merkel and Hollande spent the night together in Paris to discuss their made-up B plans for the EU Summit but everybody knows that the archaic doctrinal ideological stance of the new French President (who promised to fight all powers of the financial sector during his campaign) can’t easily compromise with the forward-looking responsible and pragmatic attitude of Angela. The astute bystander can only expect more blah-blah in front of the media and very little progress toward a committed and successful plan to “fix” the sinking old continent. This opens the door for more unpredictable market reactions all summer long and put portfolios at high risk for overnight positions.
In this context, the EOD robots can help as statistical guidelines but the real focus should be on the RT models and tools.
This is my last official post until end of July since I am taking one month of rest and vacation starting tomorrow. I’ll keep in touch with Pascal, the forum and the markets but will only post messages if I see really important observations to make.
Billy
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And to think that when I started trading the US markets I thought it was all about American companies.
I was convinced that I would have been barely interested in what was happening here in Europe... :)
Enjoy your well deserved holiday!
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Enjoy your vacation. Your daily insight will be missed.
Joe
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Profitez de vos vacances méritées!
PdP
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Have a wonderful and relaxing vacation. You certainly deserve it. Dave
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Thank you for your observations and bonnes vacances, Billy.
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