“Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades. There are a lot of shoes on the shelf; wear only the ones that fit. If you’re extremely confident, taking a loss doesn’t bother you.” – Stanley Druckenmiller
silver
Chart of the Day
“You can’t get much done in life if you only work on the days when you feel good.” – Jerry West
If you missed our latest video update, you can see it here > Weekly Outlook.
As equities continue to grind higher à la 2017, one can’t help having the the feeling that ‘yes, this could be setting up an epic melt-up’ but also that there is no way that this is going to end well. We’ll just have ti wait and see…
In the meantime, the most interesting dynamic that has set-up a few tradable swings that are currently in play, remains the current DXY retracement.
Today we will be discussing the intraday dynamics we have seen playing out on Gold, Silver, Yen and Swissy.
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Wishing you a great day ahead.
Gravitational Pull
“Every revolution seems impossible at the beginning, and after it happens, it was inevitable.” – Bill Ayers
No real change to what we have been highlighting this week as we have been updating our latest Weekly Outlook Video.
It finally looks like some moves are starting to come in. As discussed, there have been far too many warning signals and dislocations that rarely manage to hold a sustained pace. We do not really follow things like the Hindenburg Omen (just triggered on both the NYSE and Nasdaq) but we’ll take anything that seems to play towards our book 😉
As we approach NFP and the French election, we remain focused on the following charts:
As always there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
Contrarian Corner
“The four most dangerous words in investing are: ‘this time it’s different’.” – John Templeton
Very little to add to the discussion and view from our latest Weekly Outlook Video. If you haven’t had time to go through it, we would recommend you catch up on this review. There is no point sounding like a broken clock, we’ll just let the charts and moves play out.
Today’s focus: GBP o/n news and through data, Apple, NQ vs other indices, continued pressure on Crude, DXY positioning into and post FOMC.
Last but not least, might want to keep an eye on Silver…
