Wednesday, January 17, 2007

Another Day

These markets are going to be the death of me. Yesterday, before I left the office I liquidated all of my spot positions. I felt that I was just “chasing my tail”. No reason for the trades to be on and therefore it gave me little opportunity to make any money. In times like these I always feel it is better to cut everything and start again with no bias (I did however keep my interest play in Mexico, as it is mostly short dated).

I have been consistently talking to other dealers trying to get the pulse of the market. Most of the people, that I have been talking to, have been struggling with these markets (I guess I am talking to the wrong people!). But for ever winner there is a loser so someone is sitting back with a big grin on their face. Two things came up in my conversations.

1. The market will do little this year so do not look for a trend rather take smaller pieces out of it…(this made sense to me)
2. Whatever you are expecting the opposite will happen (this made more sense to me !)

So where does this leave me? Right now with almost no position, no direction and feeling a bit lost. But I have been here before and with patience I know that a move that I can embrace is in my future. I just hope it is in my near term future !

Good Luck and Good Trading



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