"... we even provide gardening tips." Next the CFD forum will have cooking tips, recipes, home brew, where will it all stop? Well it will probably stop with spouse strategies.
Trading the "very long sticks/candles" is similar to the objective of my ever popular Hammer Time strategy from a month or so ago. I have done this a few times over the last couple months, but I believe that there is merit in pursuing the very long sticks/candles theory more aggressively.
The NFP was well above expectations at 288k on Friday night, but then the total workforce declined by 806k, plus Ukraine had an influence. Consequently, to my surprise the SP500 and DOW were down and my short trades on Monday were saved.
Mixed results with my murder of shorts today (as in a murder or crows), but with ANZ and WBC the standout short performers. ANZ goes ex-div on 9-May and WBC goes ex-div on 13-May. This pair of shorts, in particular, is interesting because it brings in TA, an ex-div strategy as discussed in last week's trades thread, and GA in the form of an impending sell in May correction (with a bit more luck).
Reading the business news I get the impression that the funds are itching for a correction to start as several negative headlines are presenting. For example:
Stocks are riding optimism, not earnings, to records.
China data, Ukraine weigh on US stock futures.
What would trigger a Chinese recession?
Europe is down tonight and the US futures are red as well. Maybe the correction will start tonight. Alternatively, I could be falling into the same trap that I laid for myself in March. That is, becoming too focused on the start of the correction. However, I have been careful to let price be my guide and only shorted stocks that were essentially ready on the charts.
