A Day of Testing

Posted on Jan 21 2016 - 4:13pm by Dan

I was tested today.

My index finger hovered over the ‘buy’ button on U.S. stocks.  I was very tempted to throw all caution to the wind and buy every stock I could get my hands on.  This moment of temptation, no joke, arrived at the highs of the day.

But I backed away from the cliff.

I satisfied my bullish itch, with a small position, long AUD/JPY.  We’ll see what happens there.

However, I am noticing that downward momentum is being lost.   The excitement and thrill of the bulls being eviscerated is fading with time.  I am still bearish on U.S. equities.  At least for the moment.  But  do not be surprised if I am soon laughing at the bears as I go on a buying frenzy … 

1 Comment so far. Feel free to join this conversation.

  1. mappy January 21, 2016 at 7:34 pm - Reply

    Let’s see some real momentum first.

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