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Dear Investor,
Nothing much to add we are now into 6th or 7th week w. extremely tight range trading going on.....the GDP today was a disaster - but in the land of the Happy.. its no problem, but do spend 5 min. reading through this: http://www.ritholtz.com/blog/2009/04/gdp-down-61/
I am still recalibrating my model - but right now the mechanic part of my model is long, while the discretionaty part SCREAMS - selllllllllllllllllllllllllll......making me close to neutralising the positions.....
Bigger, broader macro piece tomorrow post the FED meeting...
Positions:
Short EURUSD, Long EURSEK, Long Gold, Short S&P and DOW Futures........
Safe trading,
Steen
2 comments:
The bull case seems to be that inventory drawdown is positive (true, but it has further to run) and that govt spending will pick up in 2Q. Not what I would call 'quality earnings' and public spending is less productive thatn private sector spending. Add to that organic income growth (NOT transfer payments) will decline as the U-rate rises, and it's hard to get excited. That's my 2c.
Good trading and thanks for posting. MW
Steen...come back....please!
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