Are We Back To This Again?

Today’s market

As I said the other day, I really think this year will be a root canal for the market. Still so many headwinds……and guess what?????? The fed may be in play again. Chatter is that if Yellen doesn wax dovishly, world markets could unravel.

Why is that? Well Japan, Europe, China are neck deep in QE and we are going the other way. The world really wants Yellen to play nicely in the sandbox with all the other finical engineers.  Yellen is so painted into a corner though, and she will lose all credibility (not that she ever had any) if she goes dovish again. Stay tuned, this could be  a train wreck waiting to happen.

After two days of positive prices, the market rolled over hard today. Oil got crushed again as Iraq decided they want to flood the market with oil along with Iran.

I took more profits on longs today and these were only initiated last Wednesday or Thursday. To be honest, this market still cant be trusted as it tries to find its sea legs. Still many moving parts and headwinds.

I updated stops on remaining longs tonight, so please take a look so you can stay updated.

See you in the morning.


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