Meanwhile back at Circle Back Ranch, where traders look to scalp a few points out of the ES, 24 hour S&P fugutures each day, there’s a whole lotta nuthin goin on. We have been locked in a trading range of less than 1% for 5 days now. Until we clear 4300 or drop below 4260, we are doomed, doomed, I say to a life of incredible boredom.
In the meantime, I travel. I am on a train that just crossed the border from Pole land to Czech land on my way to Hungary, which reminds me that I want some lunch. Budapest tonight. If you too are bored, you can follow the photo journal of my travels here.
While doing that, you will want to keep an eye on where the real action is. That would be the bond market. A breakdown in the 10 year yield below 3.66 would probably be a problem for the massive hedge fund short position, put on as a hedge against falling bond prices because of excess supply that bond traders expect. Problem is that all the excess supply will be in T-bills, and that’s being funded out of the RRP slush fund. This trade could still go haywire. Investors Breathe Sigh of Relief But D-Day Is Now
For moron the markets, see:
- Swing Trade Chart Picks – Let Your Profits Run June 9, 2023
- Gold Set Up for This Cycle Low June 7, 2023
- Investors Breathe Sigh of Relief But D-Day Is Now June 6, 2023
- The Bulls Are Full of It une 4, 2023
- Incomprehensible, That’s What You Are June 2, 2023
- Swing Trade Chart Picks – Growing Long Side Gains June 2, 2023
- Gold Gets Closer to the Bottom May 30, 2023
- Modestly Hedged Dealers, Record Short Hedge Funds Suggest Disaster Ahead May 25, 2023
- The Most Widely Forecast Economic Disaster In History May 16, 2023
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