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I've been wrong before, and I guess I've had crazier ideas, but...

June 14, 2016

I'm starting to get the emails... Brexit + FOMC = Exit. Get out. Get short... That line of bears is starting to get a little long yet again. TLP of the Simpler Trading Team says that he prefers to stand in the short queue. Stand alone. I happen to agree with his 37 years of experience as a professional and ex-pit trader. The Yen left a wick on top of its price action today, the Dollar held its 8 EMA on retracement, and I didn't like the NOB spread today (although it was very close). Let's see if the buyers return tomorrow at some point from slightly lower levels. If that is the case, I think you buy this with both hands and let Yellen sing like a dove yet again.