Rubber Band Trading
What a long, strange trip it's been.
The market for the year can essentially be decscribed as 3 big, stupid, ugly, mean-reverting trading ranges.
One high, one low, and one in the middle.
Any attempt to look for breakouts or breakdowns on the $SPY has been rewarded twice and punished about 80 times.
In this Episode of IWO Brunch, we discuss:
- the huge support level in the euro $FXE
- the odds of a rally into the end of the year
- a few stocks that don't suck -- $SBUX and $V come to mind
- why I"m looking for the failed breakout in $GLD