it's all about $USD (UUP) - unwind the currency carry trades, unwind the stock market and commodities, and the "transitory reflation".
this Monday when market gapped up with OBL death, i updated with following openning comments:
"it could be ironic that the death of OBL marks the end of the two years bull market. and on a smaller degree, Japanese disasters and s&p downgrade U.S. marked a short term market, and medium term market bottom. market often plays in a contrarian way different from majority people's thought, hence surprised most people."
as the week close on this Firday, my market closing statement is:
market gap up huge with the nonfarm payroll job data, but with the divergences of nonfarm payroll job data and the recent weeks' initial jobless claims trend, i would say the highly $spx correlated should play the critical role to lead $spx sharply lower going forward.
both Monday and Friday market gapped up with high optimism, both gave back majority of the gap up gain. without gap up, what's left? that implies a distribution market, sell on the rally.
Mr. ben transitory, it's all transitory!
much more details on the weekend report, contact me if you want to join me of the process of unwinding the transitory market. firstname.lastname@example.org
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