It is a calm morning. I woke up a little late than usual since the "New Moon" saga lasted until 1AM last night with my wife. As usual, I grabbed my cereal bowl and made my way straight to my office to read the financial news and take a gauge on global markets. The first thing I read is all about Dubai being on thin ice financially. Wow! Until 2 days ago, there was nothing about Dubai in media and today that city-state is in dire straights all o a sudden? WoW! I figured we needed some catalyst, just something to roll over and I was hoping that it was either going to be Jamie replacing Timmy OR Greece defaulting on its debt.. But no, it turned out to be Dubai... I will take it anyway for a healthy, I mean 20% correction towards the 200EMAs...
I lost on some trades and got stopped out of my shorts yesterday because the market just showed crazy behavior on thin volume... not surprising, but still unsual... The dollar tanked, EUR and YEN popped higher like nobody's business and Gold is on steroids everyday lately, nothing new there.
Now, going into Friday and next week, I am happy that the uncertainty is KILLED! Bulltards are dead!!! Bears will rule the markets for a while( at least 2-3 weeks) now!!!
A fresh hunt for possible short candidates starts right now...
Cheers......
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