That is just dumb ! Sorry but you have not obviously had a job in the finance industry ! If you had the chance to see some big IB banks arb books you would understand that ! Techs are fine when gaps are scarce and there is little bot manipulation ... otherwise everyone gets their stops hit - unless of course you are super trader as I am sure many are !
Fundamentals don't mean anything when gov'ts such a china and the us etc are buying like crazy ! How do you think China has such a massive foreign reserve balance - it is not just simply trade balances - look into it !!
It is a money flow market ! Pretty simple ! When it stops -grab a chair ! So when does the money (music) stop ? That is the key !?
I have no position either way - but am ready to short like crazy if I get the chance - EURO massive candidate - commodities - not sure- Banks - sell like crazy !! :)
Until then - I look at price action and trade accordingly -with little risk overnight ...
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Shanthar Pathmanathan, MD
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