I started drifting to a different place
I realized I was falling off the face of your world
And there was nothing left to bring me back
--The Plimsouls
What it does mean is that head winds to higher prices get stiffer--even in markets that are being manipulated by policy-makers and black box algo traders. If the rubber band snaps back in the other direction, then prices could retreat in a hurry.
Personally, I'm looking to use price to my advantage to add to commodities (lower prices) and short equity positions (higher prices).
positions in SPX, commodities
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1 comment:
In a narrow market, when prices are not getting anywhere to speak of but move within a narrow range, there is no sense in trying to anticipate what the next big movement is going to be. The thing to do is to watch the market, read the tape to determine the limits of the get nowhere prices, and make up your mind that you will not take an interest until the prices break through the limit in either direction.
~Jesse Livermore
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