"A trend continues until it ends."
"Just because two markets are correlated it doesn't mean they will be correlated each and every day."
As plain as these cliches are, this week another legion of traders continued to try and time the tops in SPY and GLD. So many aren't even tracking the "lead dog," the US dollar. So many traders continue to lose money on open positions or have their stops run. Some folks are just stubborn and want to bask in the thrill of calling "top."
As have writing from the beginning of this blog now over three years ago, calling top is an entertaining game, but tends to be a low percentage play. For the majority of traders, it is a money losing game. I ain't saying that I'm all that, because readers can see the track record and see that I'm not. However, at least I get this part.
Long GLD, SPY both expiring 11/20/09
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