That's what I suspect, just like many others.
Take a look at these charts. The top one is today's 5-minute intraday chart of S&P E-mini futures (June). The bottom one is also today's, 5-minute intraday chart of Euro futures. Almost tick for tick, S&P500 futures responded to the movement of Euro.
The movement of Euro is more subdued than the S&P future, as currencies generally do not move as much as the stock markets. But correlation is too clear, I think.
Right now, Euro seems to be forming a bearish wedge since 9:30PM EST, while S&P E-mini is still going up.
I've been sitting on my positions, almost all gold and silver stocks. MTL, I wrote calls on it, and they are providing some cushion. I'm keeping TZA as a hedge. I added a few BP calls EOD after seeing it in green for the first time in 18 trading days, but just for a trade. I think long-term prospect of BP is bleak. My outlook for the market continues to be bleak also, and therefore my holding on to gold and silver stocks.
Closing Time for 2015
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A fox doesn't seem to care if the air dose rate is in several millisieverts
per hour inside the Reactor 2 building around containment vessel.
From TEPCO's ...
8 years ago
wasup springtime-
ReplyDeleteseen you over on skf board.... funny I googld 'algo bots', and there you were lol
gth
How's it goin over at SKF board these days? Anyone left trading? I stopped actively trading and my portfolio went up 10% in 2 weeks. Go figure.
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