And we,,,,,,Reverse!!!!

On June 1, we had a few posts anticpating a rally across risk assets...Shortly after, i put up updates, saying that the rally would continue a bit further, but that i would be weary of staying long, and to expect new lows soon. The time is now, to exit longs in my opinion, and enter short positions.

I will update some charts on the previous posts for ease of viewing the before/after effect, and just post the Aussie play here:  think this will be a beauty!! fingers crossed. 

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June 27, 2012, and  quickly updating this play. As expected. we hit 1.02 and saw a swift drop to below 1.00. We are now recovering slowly, but chances are the downtrend will resume..

Oil is a major buy here

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Updating this post. We're seeing a good rebound, and chances are short term we go a bit higher, but i think eventually in 2012 we will make new lows below 75$. Medium term trend is down, short term trend is up.

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Updating this post again, June 19, 2012.  The original post was 'Major Buy', and even though anyone who bought at 82.50 would be smiling here as current oil price is over 84, it has not been the rebound i expected, so without waiting for my stops to be hit, i know i was wrong and can exit with little profit.

 Down nearly 30$ from the highs, and still no sign of any rebound while other risk assets completed powerful rallies. Something is off,,,,  Just thinking out loud, im sensing Oil is completing a devastating move here. The longs are gonna be squeezed out of their positions by force. Expect a serious drop in the coming days that can take this down sub 70,  I can only feel for anyone trying to 'average' his way out of a losing long position by buying more.  Of course i could be wrong, so i hope no one acts on my advice, but if you see Oil sub 70, dont think, just buy!! I doubt it'll stay there for more than a day.