Wednesday, July 15, 2015

MARKET LOOKS HORRIBLE

This is why I never take off the core short positions and just let them ride out bounces, in the end they tend to be worth more as each successive month goes by.

As far as entering new positions or more new positions, the market feels a little panicky right now. From a chart perspective, it's hard to make an argument for patience so we are not chasing positions, from a conceptual perspective, a reversal process is usually a little bit wider and a head fake move is usually a pretty high probability.

There are a ton of positions, AAPL short, Financials short, Transports, Biotechs, VIX long, market average leveraged inverse ETFs long, etc. We have a lot of those positions as core/trend positions, the ones I just leave alone and let them work.

As far as adding new positions, perhaps the chaos that is Greece right now will have a different outcome in the morning with a Yes vote which from all accounts seems assured, but from all accounts the Greek population doesn't seem to happy about it.

I think I said this several times, the Germany is effectively waging WWIII on Europe, but instead of using bullets, their using the Euro. Not that Greece isn't responsible for the predicament their in, at least the politicians, but I get a pretty intense sense of dread when I see a sovereign nation being destroyed by banking interests. Who can fight that and win? So we stay under the radar and kA what the market gives.

I'll put up some charts in the mean time of several positions already entered while I keep hoping we get a bounce which would put us in spectacular position for position entries.

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