Friday afternoon:
Accounts hit new all time highs again today, although not a blowout to the upside. Several decent trades consisting of shorting bond futures, and long gold have worked for marginal gains. This environment is so shaky, that my "long" and "short" candidate list has had the same names on both lists at different times of the day. This rarely happens, and is usually indicative of market conditions loaded with risk. Look at the intra-day chart for gold, and you can see what I mean. Strong in the morning, only to become the weakest on the board by this time (1:50 pm). I would advise against temptation to go home with positions, as anything could happen. To think that you or I can know the events about to unfold is simply a gamble. I have no aversion to gambling, as long as risk/reward is acceptable, but in this situation it is not!Trading accounts equity less than 0% from all time highs set on 10/10/08. (includes open positions)
