Replies to post #13609 on Mostly: Classical

[Frank Pembleton]

"We know of few things that we can count upon in the world of trading, but we know this: A trend in motion tends to remain in motion far longer and move far farther than anyone wants or can believe..."

-- Dennis Gartman

[Canuck Dave]

LOL, I'm being careful Frank,

Still got lots of cash. Was a net seller today. My copper play (NNO) just isn't going anywhere. Something not right there.

[lvlamb]

I agree: currencies are hot potatoes of late, much noise, nothing fundamental. Seen Wim Duysenberg (former ECB boss) on almost all media re: the French no-vote.
He was not surprised from the reaction of the Forex markets but repeated that the weakness of the ECB is a warrant for the stability of the Euro. Give 6 months for the noise to settle (and lose if you are on the wrong side of unexpected jumps).
Better stay away. New Zeland Dollar is much nicer.

Shorter term... there has been a crash in Jul-Aug in 2002. Could happen again, but stats tell to look for later lows in Sep-Oct.
So, I'd better go with the stats and remain a calm observer.

Lastly, I have an aversion for markets between Frday's 11 o'clock till Monday's 11 o'clock: most strange things can happen then, and settle for the mean when normal trades are back again.