Stopped Out of S&P; Jumping Back Into Brazil
Mother Fudger!
The tape bomb about the U.S. keystone cops capitulating on the tariffs in China trade negotiations kicks in the aglos taking the e-minis right up to my stop only to reverse. Those ‘bots are tough MoFos to beat and have been killing us for the past three years. Sometimes, you feel the market has it personally in for you.
Not true. Mr. Market could give a shit about your positions.
These guys running economic policy in this administration may be the worst in history. And I’m not saying that out of spite because I lost money today.
There is no doubt in my mind the final China Trade Deal will be another Potemkin Village with only some cosmetic adjustments just as NAFTA 2.0 and the Korean Deal were.
Mnuchin and Malpass are up against these guys, who know Trump wants a deal?
China’s crack team of trade negotiators is professional, productive and ruthless and has been described by a group of their international counterparts as “among the best in the world”. – SCMP, January 8th
Regrouping
We have bid mauled by Bidzilla in the S&P over the past week. Shorts are not working. They will someday, in our opinion.
We have to a better job on managing our stops and sticking with our winners.
We sold China too early and left $6K on the table being a dick-for-a-tic trying to get back into to Cable back with 1.26 handle. The Sterling March contract is now trading with a 1.30 handle as we write. We are hoping to get back into our favorite global macro trade at lower levels. Don’t want to chase it here but tough to be patient. You know FOMO is a real bitch.
It looks like the S&P is going to close above the 50-day, so we are jumping back into 8K shares of the Brazil ETF, EWZ, at $43.00, right where we took profits on January 10th. Stop at $41.77.
Our gold position is going nowhere and getting stale but we are sticking with it and will add with a breakout over $1300.
Who said trading was easy?
Source: https://macromon.wordpress.com/2019/01/17/stopped-out-of-sp-jumping-back-into-brazil/
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