The market these days looks like a fatiguing fighter lurching around the ring, bouncing off the ropes each time his opponent lands a punch, but never quite going down. Today, the market opened strong on Google’s blowout earnings report and Citi’s stunning profit picture. Then the politicians spoke, and the market hit the ropes …
The market bounced off the ropes, and then the U.S. debt-ceiling left and the European-debt right combination staggered the fighter again. Down on one knee, but not giving up …
Europe’s sovereign debt crisis, stalled budget talks in Washington D.C., and an uncertain economic backdrop have sent stocks on a roller coaster ride since the spring. The market could be in for more of that volatility on Friday afternoon when the European Central Bank releases the stress tests for the European banks.
Okay, a little metaphor mixing I admit, but this is hard stuff, so I made an exception to the rule about mixing metaphors. Along that line …
This week’s roller coaster ride is coming to an end, so, after today, take a break, have a nice weekend, and if you want to get back on for more up and down, check into the market on Monday. However, before you go, I have a couple of emails to consider. One is a question and the other is a lament, of sorts …
Looking to short the Euro/CHF at 1.2000 but it doesn’t look to be able to rally all the way up there tonight. Where would you look to sell EUR/CHF?
I am sorry, but I am devoting all my energy to not falling out of the coaster flying up and down the windy, curling track. My sight is straight ahead, eyes on the horizon to keep the nausea at bay. My head is telling me, “Don’t be afraid. The ride will end.” Consequently, the Euro/CHF pair is not in my vision. Sorry …
I am in the position of having too much educational material at hand, and I am having difficulty focusing on what I should learn from and what to leave, as I am not well organized, as far as time allocation is concerned.
Educational material is overwhelming the writer of the above. I get it, at least in the abstract. I too am having difficulty on focusing, as I said earlier. Some days, I feel overwhelmed. Lately, I feel the adrenaline rush and fear from the roller-coaster ride in Marketland is a bit much, but, hey, that’s just me.
For the reader who is overwhelmed from too much educational material, I would advise setting up a ladder of sorts. Start with the most basic materials, such as terminology, concepts, etc., and then move up the rungs progressively tackling more complex topics …
Trade in the day – Invest in your life …
