by springrain » Thu Aug 22, 2019 8:29 pm
slavedog wrote: ↑Wed Aug 21, 2019 1:58 am
Don't listen to Spingers. He's .... clueless, I fear, when it comes to financial matters.
Dear SD,
I said that it is wise to read what people of influence in the world of economics & finance have to say. I refute your claim that I am ‘clueless’.
Here are some trades that I placed based on this premise (that when people of influence speak, it is wise to listen):
4th June, 2019
David Malpass, the WBG President, said that global Economic Growth markets were set to weaken to 2.6%.
As a result, I opened a short position on the Nikkei (I have my reasons for this) at 20,749 on 6th June. I closed this out on 5th August at 20,200 (or so).
5th June, 2019
Christine Legarde said: ‘…escalating tariff threats … could slow growth.’
As a consequence, I opened a short position on the DJIA at 26035. I closed it out on 5th August (I like to allow 2 months for maximum potential before other factors kick in) at a position of 25576.
Brexit
Going way back to the events of 23/6/2016, I felt that it would be close and we (Brexit wanters) might even get the result we desired. I was cautious and only opened a smallish position, but I went short on the GBP/USD pair and allowed a smallish trade on a long position on the FTSE, knowing that its heavy composition of multi nationals such as miners would mean a gain from the GBP’s weakness.
I understand that your post was dominated by your idee fixe that:’Springrain is mad and anti-capitalist’ (which is not far off) but kindly think twice before asserting that I am ‘clueless’ about trading. Many thanks.
Oh, lest I forget, my post would not be complete without a demonstration of the truth of what I am saying:
When people involved in making economic decisions speak, it is wise to listen. So here is a tip:
On 19th August (Yes, just 3 days ago) the Bundesbank announced:
Germany is on the brink of recession (I have paraphrased slightly).
The Dax stands (at 7.05PM Cambodian time) at 11,835.It is edging up.
I advise a smallish ‘short’ position if it rises to 11,870. It is currently showing signs of ‘indecision & uncertainty’, so I would be looking to short it pretty soon. Please, if you do take a position, have a clear ‘exit strategy’.
Actually, I will do it now, but I don’t want to state publicly on an internet forum in case some poor sod does this and loses; hence the cautionary tone.
From a ‘clueless’ trader.
[quote=slavedog post_id=981806 time=1566327498 user_id=7483]
Don't listen to Spingers. He's .... clueless, I fear, when it comes to financial matters. [/quote]
Dear SD,
I said that it is wise to read what people of influence in the world of economics & finance have to say. I refute your claim that I am ‘clueless’.
Here are some trades that I placed based on this premise (that when people of influence speak, it is wise to listen):
[b]4th June, 2019[/b]
David Malpass, the WBG President, said that global Economic Growth markets were set to weaken to 2.6%.
As a result, I opened a short position on the Nikkei (I have my reasons for this) at 20,749 on 6th June. I closed this out on 5th August at 20,200 (or so).
[b]5th June, 2019[/b]
Christine Legarde said: ‘…escalating tariff threats … could slow growth.’
As a consequence, I opened a short position on the DJIA at 26035. I closed it out on 5th August (I like to allow 2 months for maximum potential before other factors kick in) at a position of 25576.
[b]Brexit[/b]
Going way back to the events of 23/6/2016, I felt that it would be close and we (Brexit wanters) might even get the result we desired. I was cautious and only opened a smallish position, but I went short on the GBP/USD pair and allowed a smallish trade on a long position on the FTSE, knowing that its heavy composition of multi nationals such as miners would mean a gain from the GBP’s weakness.
I understand that your post was dominated by your idee fixe that:’Springrain is mad and anti-capitalist’ (which is not far off) but kindly think twice before asserting that I am ‘clueless’ about trading. Many thanks.
[b]
Oh, lest I forget, my post would not be complete without a demonstration of the truth of what I am saying:[/b]
[b]When people involved in making economic decisions speak, it is wise to listen. So here is a tip:[/b]
[b]
On 19th August (Yes, just 3 days ago) the Bundesbank announced:[/b]
[i]Germany is on the brink of recession [/i](I have paraphrased slightly).
The Dax stands (at 7.05PM Cambodian time) at 11,835.It is edging up.
I advise a smallish ‘short’ position if it rises to 11,870. It is currently showing signs of ‘indecision & uncertainty’, so I would be looking to short it pretty soon. Please, if you do take a position, have a clear ‘exit strategy’.
Actually, I will do it now, but I don’t want to state publicly on an internet forum in case some poor sod does this and loses; hence the cautionary tone.
From a ‘clueless’ trader.