Do not marry your trades....
All I can see is, as I said it atleast 20 times...
It's not going down before dow touches 10000. Even Mal confirmed this morning. Despite all crappy news, momentum is UP.
I do not expect much movement in the market till then. 200 pip range.
My doubt is, and it's only a doubt that market is waiting for US to raise IR. If that happens, USD will shoot. If not selling continues. As market wants rates to be raised. Banks are making sure they generate inflation by selling dollar and making OIL and gold expensive. OIL expensive means everything expensive. Hence, rates have to be raised. Banks have tons of money on the sidelines atm it's costing them to keep that money.
It might be wait worthwhile but not happening soon
All I can see is, as I said it atleast 20 times...
It's not going down before dow touches 10000. Even Mal confirmed this morning. Despite all crappy news, momentum is UP.
I do not expect much movement in the market till then. 200 pip range.
My doubt is, and it's only a doubt that market is waiting for US to raise IR. If that happens, USD will shoot. If not selling continues. As market wants rates to be raised. Banks are making sure they generate inflation by selling dollar and making OIL and gold expensive. OIL expensive means everything expensive. Hence, rates have to be raised. Banks have tons of money on the sidelines atm it's costing them to keep that money.
It might be wait worthwhile but not happening soon