Month end and all that - thus a sudden burst of buying to stop a sell off. FAZ closed down on the day but ahead on my purchases so I am still with it.
Painting the Close
Another rally from nowhere. I am going to sell into it as I would rather be short over the weekend than neutral. If nothing happens over the week end and they continueto bid things up I will cut my losses. As I have said several times: It is stupid to fade the tape (aka FED). Gold and Silver are beginning to look very strong so I wouldn't e surprised if they do another bear raid - if they do I will add to my physical position.
Another Post on the same subject
Yesterday there was good "mystery" buying towards the close that pared most of the stock market losses. The same thing today. It wouldn't surprise me if we open up tomorrow with "mystery" buying from Europe. Their game is to keep gold and silver down and stocks up. I still have my short position - one day we will open down and the manipulators will lose control and we will see the 1,000 point drop I am looking for but I am keeping my stops close.
I am holding my position. Last time things went my way and then turned on a dime and chopped my head off - so I am holding the position gingerly . Some day soon we will see that 1,000 point break but this is a controlled and manipulated market and it is hard to fade governments and central banks in the short term.
I have gone back into FAZ. My first trade in a while as I try to come to terms with this "bull" market.