Hello all
Market finally broke the 1400 level as we expected only to bounce back on mambo jumbo from the government.
We see china is going to grow 8+% well will see about that.
Market popped up and almost took us out but that wasn't the case, and all ended well.
On copper we too a small hit .
Tomorrow there is not much astrologically.
In regards to what's going on in the market.
There will be a massive arbitrage play nq/es..
Theses sort of anomalies come now and then and don't last long.
The appl. Sell of is just to make weighting for FB coming in on the 12th to Nasdaq.
It will rebalance so anyone looking to short appl please be careful as you could get caught on the wrong end.
In regards to gold, please understand that the ETF tracks gold.
When gold goes up the ETF managers must buy gold as they are weighted by gold not fully but I think 70%.
Then you have that domino affect where both gold and the ETF gain.
Last week I said that a manager is protecting a put on the ETF.
What happen was he went about selling off the metal first.
This put pressure on the ETF manager to reweight and as a result has been selling there gold holdings.
It's a cycle where retail really doesn't understand how it works and as a result unless you trade it buying and holding doesn't pay.
This is with all ETF. Not just gold.
I'll respond to all emails today
Market finally broke the 1400 level as we expected only to bounce back on mambo jumbo from the government.
We see china is going to grow 8+% well will see about that.
Market popped up and almost took us out but that wasn't the case, and all ended well.
On copper we too a small hit .
Tomorrow there is not much astrologically.
In regards to what's going on in the market.
There will be a massive arbitrage play nq/es..
Theses sort of anomalies come now and then and don't last long.
The appl. Sell of is just to make weighting for FB coming in on the 12th to Nasdaq.
It will rebalance so anyone looking to short appl please be careful as you could get caught on the wrong end.
In regards to gold, please understand that the ETF tracks gold.
When gold goes up the ETF managers must buy gold as they are weighted by gold not fully but I think 70%.
Then you have that domino affect where both gold and the ETF gain.
Last week I said that a manager is protecting a put on the ETF.
What happen was he went about selling off the metal first.
This put pressure on the ETF manager to reweight and as a result has been selling there gold holdings.
It's a cycle where retail really doesn't understand how it works and as a result unless you trade it buying and holding doesn't pay.
This is with all ETF. Not just gold.
I'll respond to all emails today
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