Should we change QE2 to QEE? Quietly Eroding Euro!!!
New definitions for Quantitative Easing (QE2) could be…… “Quantitative Exaggeration“ to the 2nd Power or “Quantitative Exiting“ if the Euro keeps heading south!!!
877-721-7217
[email protected]
KY…I prefer per the POP (power of the pattern) to get them before the event. Pre-market is really tricky and so is the open. I am not wanting to day trade, just get in on a move that I can keep for a while.
With the NDX/VXN at the biggest spread in maybe a decade, it felt ok with attempting to score on defense in the hottest asset class on the planet, being commodities…
yeah, was just looking at shorting OIH and buying SMN. But too scared of a rebound next week. I’m happy enough with the 3 mentioned above. AGA is really taking off!
Chris, what do you find is the best way to establish positions? do you place orders pre-market? Market or limit orders? i usually use limit, but find myself chasing a stock up many times (which is time consuming and frustrating)
KY…been waiting to short crude oil due to this pattern for a good while. Might have waited tool long, yet I like the action per what the pattern was suggesting!
KY… Thank you for sharing those kind words. I am not a patient person in general, yet believing/having faith in the “POWER OF THE PATTERN” like I do, I am patient, per waiting until what appears to me, to be the best risk reward situation for all of us!
Does a hungry lion chase his prey or does he find a good place to stalk his prey and then attack? I attempt to not chase, but wait for the pattern and then go after it, with the stops you mentioned.
Yes VXX is a crappy acting ETF most of the time., not something I want to buy, hold and hope. One of my least favorite etf’s, except in this type of a sitiuation.
Again to you and others, I appreciate your viewership and will continue to do my best in this unique times. Even though I have done this for 30-years, I believe that opportunities for abundance have never been BIGGER!
And thank you by the way for VXX, DUG, and AGA. It’s really amazing how close to the turning points you get. Esp something like VXX, a crappy acting etf, calling it couple days b4 a big move. Your constantly revised stops are also reassuring, saved some money today so far (ACI). Gives me confidence to plunge right into your buy recommendations since i know you keep a close eye on your buys.
I guess we’ll have to wait and see if this is a real downturn or just a small correction.
Yes…EWZ broke form the pattern I posted yesterday.
Get some AGA this morning KY?
Is it time to short EEM or EWZ?
Nikesh,
Nothing wrong with FXE. I prefer to own an inverse stock position when the Euro falls and the Dollar rallies. The opposite is true, when the Dollar is on support, would prefer to long stocks. I hope to peg the direction of the currency correctly. If that can be done, use other assets to make moines off the currency movements.
Think about how much stocks and commodities rallied as the dollar fell over the past few months…
Great take as usual Chris!
Jason L.
Chris, You have indicated “score on defense” for Brazil. What about FXE? – Do you think it is too early to take a short position in FXE?
ck…
That line you suggested is a parallel line for sure, which is a channel line and it would be above that support.
As you know I look for wedges, that create a potential to make money at “turning points!”
Hi Chris,
For the EURO, the lower line forming the wedge, could it start in May/June trending up and right basically parallel to the upper line? In which case the current price would still be just above support within a price channel?
cK