IIFT Daily Note with Peter Brown

Rally continues apace.

Posted by:  |  Time: 7:55 am  |  Topic:  |  Comments: 2
Trading Is At Your Own Risk - Read Our Terms & Conditions

Students of IIFT know the concept of Tuned in, Tuned out. I have to admit at the moment I am completely tuned out. This rally is far stronger than I expected and I cannot give any reason for it’s strength. We have tapering and the debt ceiling ahead but the market has decided to ignore any problems and is on a feeding frenzy. This is a market that is going to cost me initially as I cannot buy into the rally because I fundamentally disagree with it. So I have to be patient and keep it small until the market turns. Sometimes trading is just tricky and if you are against the macro move, as I am now, you just have to suck it up. Tuned in will come around soon.

Levels today are 1704  1690  support 1678  Euro 1.3420  1.3320

 

2 Comments

martin delaney

September 12, 2013

arrow

glad to see im not the only one not making sense of this market.
trying to stay in with small stakes.
I respect your honesty and it puts my mind at rest.
thanks again

Lawrence

September 12, 2013

arrow

cover ur positions.