Apr 25 2008
A Few Friday Tidbits
I love this quote from Vince Farrell posted on Larry Kudlow’s blog:
The market can stay irrational far longer than you and I can stay solvent.
One of my colleagues just informed me that Treasury prices have risen an average of more than half a point on Friday’s in 2008 and hasn’t once fallen. At the same time, the S&P has been down 10 of 15 Fridays, and up only three times. The average drop has been 22 points and the average gain 16.
The Financial Philosopher has done a guest post on The Change Blog in which he says “People want to be told what to do”. From my experience in trading education (and beyond), I can tell you that’s 100% true. Obviously it’s not everyone all the time, but that definitely seems to be the case for most folks most of the time.
I’m loving my EUR/JPY right about now (see EUR/JPY: Might Be a Good Time to Be a Seller). I generally try to avoid negative carry forex position trades where I can (might as well earn the interest, not pay it), but the set up for a short was just too nice. I got into a position just a bit below 165. If the pattern plays out, it could be worth 10+ JPY.
Here are some other posts which might interest you:
