Straight Up: Yesterday’s Disappointing Market Turnaround

Lucky 7: My Best Performing Shorts Today


It has become quite evident that anyone who dares short this market needs to adopt a “smash and grab” attitude and simply cover whatever positions they have during those rare instances (like last Thursday) when the Fed briefly loses control. The fact we’ve soared about 2,200 points in 36 hours based on absolutely nothing proves that.

YM Chart

YM Chart

Chatter (once again) about a trillion-dollar infrastructure bill is pushing equities higher and smashing bonds, since a nation addicted to endless trillion-dollar programs is looking like an increasingly worrisome credit risk. The bond futures have fallen hard over the past 36 hours:

ZB Chart

ZB Chart

Thus, virtually the entire rout from last Thursday has been laid waste. The have just about returned to their neckline.

RTY Chart

RTY Chart

During yesterday’s disappointing turnaround, I had trimmed my positions from 75 to 40 and likewise trimmed my exposure from 150% to 80%. I am thus entering the day relatively light and, frankly, feeling an awful lot like Sisyphus.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Source link

Tim Knight


Leave a Reply

Your email address will not be published. Required fields are marked *


About us

InvestLab is a financial services technology company focused on the global trading market. Founded in 2010 in Hong Kong, the company develops trading, market data, and social research products that enable individual investors and small to mid-size brokers to access global markets. We provide brokers and financial institutions cross border capabilities for retail investors into 43 markets globally.


CONTACT US

CALL US ANYTIME