I’ve booked ( and I do mean booked….ie sold positions and placed the money on the “plus” side of the account ) an additional 4% here this a.m – as per the trades outlined just yesterday.
If there is one thing I really can’t stand – it’s watching these “real profits” disappear during the NY session as the usual “POMO ( permanent open market operations ) pump job” continues to mask the true fundamentals….lurking underneath.
More often than not, an entire “weeks” worth of planning/strategy and profits can be completely “wiped clean” during the NY session as “counter trend rallies in reality” ( as I like to call them ) play out daily.
You’ll note that Asia and the commodity currencies got absolutely hammered last night with the Japanese Nikkei down a whopping 445 points, yet today “during the con job” I don’t imagine you’ll hear a thing about it.
Do think it just might be possible that our dear friends in Asia woke up to see the NFP / employment numbers out of the U.S and said: “Holy shit – that’s crazy!! What the hell is going on over there? Are these guys seriously talking about “recovery”? Bleeep! – sell.
Left to their “own devices” U.S markets should be crumbling like a moldy ol tortilla – left to sit out on the counter too long.
I’ll tuck my pennies in my pocket and continue on “after” the gong show rolls through.