Woman: I'm not a witch! I'm not a witch!
Vladimir: ehh… but you are dressed like one.
W: They dressed me up like this!
All: naah no we didn't… no.
W: And this isn't my nose, it's a false one.
(V lifts up carrot)
V: Well?
Peasant: Well we did do the nose
V: The nose?
P1: …And the hat, but she is a witch!
Carrot noses and pointy hats do not a witch make.
Low volumes and false promises do not a rally make either. But how can we tell a real rally from a false one? Clearly the answer is "a duck" but, if you are not a Monty Python fan, then perhaps you would prefer something a little more technical. We had a nice, technical discussion in our early morning Member Chat at PSW (tweeted out as well!) and our morning trade idea to short the Nikkei Futures (/NKD) at 16,000 is already up $125 per contract and looking good with the Dollar testing 81, Oil (/CLG4) Futures once again made a good short at $99 and those are already up $300 per contract at $98.70.
As my Members know, my retirement plan is to move to Europe so I can have a nice breakfast, read my paper, make a couple of Futures trades and be done for the day before lunch. It does, however, take a lot of practice to learn to trade the Futures and we had a great discussion about it in yesterday's Member Chat and it was a topic at our Las Vegas Conference in November and it will be again in Atlantic City this April. Meanwhile, get yourself a paper-trading account and practice, Practice, PRACTICE!
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