While there may be a forced deleveraging here of shorts as central planning plans its own demise...however, it is incumbent on the shorts to have conviction in their positions, allocate position size with the awareness that these idiots are going centrally plan a disaster for eeryone and to take profits prudently so that there is plenty of room in their book as an overleveraged system will seek to bankrupt everyone - long or short.
We had a tremendous week covering big shorts for big profits on Monday and Tuesday...the currencies as always appear to be the key to the unwind that I have been talking about...with the focus on the Euro and the Dollar. The Euro is setting up a idealized zig-zag bounce and is near the target zone. Perfect symmetry occurs at the thick horizontal target line on the chart...though we do not have to make it there.
