MysteryTrader's Commentaries

Reversals?

by MysteryTrader on Oct 5, 2006

If OPEC cuts production, as reported this morning, that might change things in stock land a great deal.

Federal Reserve Board members are dropping conflicting hints. Vice-Chairman Donald Kohn said, "The risks to my outlook for economic activity may be skewed a bit to the downside, while those to my forecast of gradually declining inflation are tilted to the upside. In the current circumstances, the upside risks to inflation are of greater concern."

The stocks market's recent rally has been unusually large and persistent, but now stocks appear overbought. I am selling short again.

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About the Author

MysteryTrader

Almost nothing is known about the Mystery Trader. If there were anything much known, he or she would not be such a mystery, would he or she? We can say only this: the Mystery Trader has been trading for a long time, has learned a few things, mostly the hard way, has traded all kinds of crazy financial instruments, has made AND LOST an awful lot of money, and has not died broke well, not YET anyhow, but there is still time for that. The Mystery Trader writes these impressions and thoughts as a kind of an uncensored stream of consciousness journal or diary, largely for his or her own amusement, but also hoping these thoughts might help readers somehow, perhaps occasionally, prevent them from doing something stupid. The Mystery Trader hopes that his or her thoughts might help YOU keep from losing YOUR shirt in the world's biggest casino. The financial markets are notoriously tricky and have ALWAYS been loaded with disinformation, deception, raw deals, chicanery, and outright criminal theft. Unfortunately, little of this bad behavior is caught and punished because the financial markets are too big and chaotic. The Mystery Trader certainly and explicitly does NOT recommend that you blindly accept any ideas presented here or take anything expressed here at face value as actual fact. On the contrary, if anything, the Mystery Trader hopes that this blog might encourage you to think entirely for yourself and develop your own UNcommon sense. Be careful, have fun, and good luck!

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