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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: TH who wrote (291231)11/13/2010 2:20:34 PM
From: ggershRead Replies (1) of 306849
 
TH, here's a perspective I thought you
might enjoy. From a mate @ Naked Trader

ggersh

Taking the marketplace one day at a time…one trade at a time…I have a good feel about Monday. Keep an eye on the breakout level in the Dollar Index at 7830. I feel the dollar spikes higher on Monday which will drag down the whole of the marketplace…indices…credit markets and commodities. They all rose in harmony with each other. They will come off together too.
Never ever underestimate the power of the bear. The bear can undo years of hard work in a matter of months. The bear can undo months of hard work in a matter of weeks. The bear can undo weeks of hard work in a matter of days.
1. Gold lost $35 on Friday. Just undid six days of hard work in one day.
2. Crude Oil lost $3.08. Just undid six days of hard work in one day.
3. Soybeans lost 70 cents. Just undid six days of hard work in one day.
4. Corn lost 51 cents in four days. Just undid one month of hard work in four days.
What we saw on Friday in the commodity markets was only one day. I feel there is more pain to come. I feel that pain will spill over into Wall Street. Both sectors have been trading in overbought territory for over a month. A one-day correction is not enough.
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