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Strategies & Market Trends : Humble1 and Swing Trading Friends -- Ignore unavailable to you. Want to Upgrade?

To: humble1 who wrote (26081)	6/6/2017 12:51:45 PM
From: John Pitera	Read Replies (1) \| Respond to of 41043

H!, LOL, I have personally know and spent a number of days and evenings with Arch Crawford, Bill Meridian, Michael Jenkins, Robert Hand.. when I was trading FX for Chase Manhattan, in NY...... Geoff Robson Scott and myself spent around 100 hours working with Ray Merriman's the gold book, back in Sydney when I was with Citibank and we manually had to look up each aspect in the ephemeris and then plot it by hand on our large 8 combined pages of paper taped together with the Gold price drawn on by hand... Geoff knew the Astro.... I was his apprentice.... but knew the computers and the way the largest Banks functioned.... they make money simply by making margins from the spread and the customer business. Like Amazon makes money from the margins..... except Citi, JPM, Deutsche, GS, etc deal in the money and money derivatives business. JP Hi Bob, In my humble opinion, you have just written a piece of brilliant analysis.... and I agree. with you...... We've been listening to some of NVDA's conference today and the GPU's and other technologies, they have created are really synchronizing with the work the cloud companies are doing and the inferencing and machine learning and A I development that Alphabet GOOGL, AMZN, and the autonomous driving companies are developing..... It is a typical beginning of a euphoric rally that given more time - will roll over as far as big caps are concerned and fill in with higher (on a percentage basis) run up on the small caps. Of course it can be different - but what we want to look for is breadth improvement and mid caps rotate - when small caps are the only thing going up it'll be time to unload - a bit early. So far breezes chart that shows this 4th wave was a rare running flat and we are now early into a new impulsive 5 up seems to have a power all of its own. I think going short to play the swings is far too dangerous in a fast market. All surprises are to the up side. What takes discipline is to have ice in your veins and watch the run up. No need for new positions - just let your winners run! It has been a fools errand to short the stock market..... Rick Santelli , Carter Worth and the entire WS community are paying big attention to the FX markets and to what is going on in the yield curve and commodities..... all the base metals .... 20 of them have all roled over and the composite CRB is mucking about at very depressed levels..... So the currencies and USD are an additional significant focus. John