OK – Bank That…
OK, so the other day I made it pretty clear what I thought about the post-Sarko hissy-fit by the Euro-bankster class:
I’m buying Gold (at $1633), DAX (at 6595) and SPI (at 4337) – just for a dead-cat bounce from this pathetic over-reaction to the replacement of one Frog career-parasite with another.
And where do we sit today… well, Gold is above $1643, the SPI is above 4390, and the DAX is above 6640. So I’m closing all of those (having ridden the Gatorade Bottle of Doom Up the Vord during Monday night’s session). Using standard futures margins, each of those positions returned a 20% gain on margin in three days. Easier that shelling peas.
Now, look to short DAX on the next primary overbought – it’s already hugely overbought on the hourly, so give it another hour and ride that shit down 50 points.