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- Are you gonna play by the rules or not?
Are you gonna play by the rules or not?
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Loading...It’s not surprising that people feel nervous. And not just about whether they need to decide between finding the nearest safe-haven asset or continue to chase the stock market higher.
Especially as bund yields are trading like they have rocks tied around their necks, gold is shining again and politics, everywhere, is a mess.
* But we’ve also seen a lot of markets remain strongly in ranges, no matter the investor mood swings. Risk-reward keeps reminding us to buy at support, and vice versa. You can get away with any view as long as you know where your stops are. Loving it or hating it stops are a must isn’t a strategy.
* Are U.S. Treasury yields going to continue lower and crush all the speculative bond shorts? Maybe. But you’re betting on not only knowing what the President and his team will say, but how the markets will react
* Three times this year the 10-year has been down to these levels. Resistance remains at 2.28%. It hasn’t changed, and, so far, hasn’t broken. It was less than two weeks ago that yields topped 2.50% and we were discussing how much higher they might run
* Gold does indeed look impulsive. But has run right up to the200- and 233-day moving averages. Is this where you want to buy?
* I keep being told that the dollar is finished. But the indexhas been caught between the 21- and 55-DMAs for the last three weeks and will finish the month above its 21- month moving average. That’s not a break, but support and resistance are easily measured, if you want to take a position.
* I understand that it’s frustrating to watch equities continue higher. But frankly it’s a
lesson you should have learned over the last eight years. If they are going to correct, let them do something wrong first. If you can only bear to be short by picking the
absolute top, it’s probably not the market for you. By the by, they can fall a good ways and still be in an uptrend
* It’s a confusing, boring, topsy-turvy world. It has also been a great trading market if you played by the rules
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