The Bernanke is going to have a press conference tomorrow. Strategy?
Turn off your computer and do not trade.
There are 240 trading days in a year. Some days are better days to head off fishing.
If, however, you must trade. I would have outlier bids and offers in what ever you are trading.
In the Dow Cash… have buy orders 100 and 200 points below the market. Have sell orders 100 and 200 points above the market resting.
If I am initiating a trade on a day when “anything can happen” I want a giant head start.
On a personal note, I got a sick feeling in my stomach this morning, listening to AM radio on the way to the train this morning. A conservative talk show platform had a gentleman on with the handle “Capitalist Pig”. I did not catch his real name. Interesting, he seemed to be touting cold and silver. Gold this morning is down 7 dollars and silver is down 2… How surprising.
I hope all those poor souls who initiated longs on his “advice” had sell stops to limit their financial blood loss.
However, I must re focus. Having the general media get bullish an investment class makes me want to head for the hills the other way.
I bought some cheap, out of the money puts this morning in both Gold and Silver.
When these have doubled or tripled in the nest 3 to 6 weeks, I intend to track down this pundit, and thank him for giving me the sell signal.
That is all for the metals.
For the grains, the weather is the focus. When the weather clears and the planters run, the market will dump. Plan accordingly.
That is all.
CER
