Hello all
Well as expect the market went up and we took our positions off the table.
As I stated yesterday doom and Gloom was ripe in the media with CNBC running on the Chinese Vote reform member news.
We saw the market come off only to come right back.
Its important to understand that with Financial astrology we only want to trade when we see something happening.
There is no point being in the market hoping for something to happen.
You end up wasting your time behind a computer screen watching paint dry and loosing money.
Sure in this case we see the market going higher but with the holiday and the half day Friday the risk is to the downside.
Should the market face an ambush we are keen buyers but no point risking profits for an extra point or two.
There is more to life than sitting in front of a screen watching a market trade.
The idea is to act only when the ducks line up for a period of time and then walk away and enjoy your profits.
To the metal readers sure there trying to push gold higher but really where will they go, the astrology isn't positive yet for a move higher in fact its void to negative so please wait.
With options set to expire next week I don't see Gold going anywhere but 1700 or lower.
I say this because of 2 things first you have the writers prepared to expire the options worthless, and second of all you have no positive astrology to support an up move.
Sure I am a buy under 1700 not before.
In Europe well its hard to see any resolution, so I am prepared to just do nothing and enjoy the long weekend like many US traders.
Well as expect the market went up and we took our positions off the table.
As I stated yesterday doom and Gloom was ripe in the media with CNBC running on the Chinese Vote reform member news.
We saw the market come off only to come right back.
Its important to understand that with Financial astrology we only want to trade when we see something happening.
There is no point being in the market hoping for something to happen.
You end up wasting your time behind a computer screen watching paint dry and loosing money.
Sure in this case we see the market going higher but with the holiday and the half day Friday the risk is to the downside.
Should the market face an ambush we are keen buyers but no point risking profits for an extra point or two.
There is more to life than sitting in front of a screen watching a market trade.
The idea is to act only when the ducks line up for a period of time and then walk away and enjoy your profits.
To the metal readers sure there trying to push gold higher but really where will they go, the astrology isn't positive yet for a move higher in fact its void to negative so please wait.
With options set to expire next week I don't see Gold going anywhere but 1700 or lower.
I say this because of 2 things first you have the writers prepared to expire the options worthless, and second of all you have no positive astrology to support an up move.
Sure I am a buy under 1700 not before.
In Europe well its hard to see any resolution, so I am prepared to just do nothing and enjoy the long weekend like many US traders.
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