Wednesday, February 27, 2013

Tops Take Time to Develop

Wall Street rallies on data, Bernanke
Easing outweighs any costs - Bernanke just saved my gold positions.  Good chance to add any shorts for protection against a sharp selloff.  Still weighted with more longs, but adding to shorts now.  Tops take time to digest, and there are plenty of chances to get defensive.

..But US Dollar  strengthens on these comments - unusual; although confusing analysis by Lien..
If Gold continues to rise into US Dollar strength, this is very positive for a rebound in Gold prices, as we may start to see a breakdown in correlation between the US Dollar, the economic recovery now adding to US dollar strength, and potential/threat/expectation of tightening.
The RBA wants the AUD to be lower but obviously doesn't want to lower rates to much to achieve this aim.

This hurt my long position, I might offload into the coming session.

U.S housing is still strong, trying to find a good entry point for this sector, but finding it hard.

The 32% spike in VIX was an extreme move.



Looking to set up some positions..
Stock Quote NBL
Looking for a long here.
Want to get long here too.
Will try to short LVS tonight.