Been busy so haven't commented much on the market action. Last couple of days have been really interesting. Big reversal yesterday with DOW bouncing off the 50 day moving average. Today we broke back down below resistance below 1110 than the 200 day moving average and than the 1100 area. Tomorrow the Fed meeting decision is released. That is typically bullish. We shall see. World news again has become fairly bearish. The U.S. existing home sales number was a shocker even for me. It was bad bad bad. I have not jumped on adding to short exposure (still plenty short). Still nervous about the Euro though it has been selling some off recently. I think that correlation is going to weaken soon but I don't want to be the one betting on it. I am watching that 1185 area. Breaking that could mean this rally stage is over. I had been watching 1140. We got up to 1132 area yesterday. Close enough. So on watch for major deterioration but with the Fed meeting tomorrow I wouldn't want to short in front of it. We shall see.
Here is the full PDF of Bridgewater Associates Principles by Ray Dalio for those who are interested.
Thanks goes to John
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4 comments:
Have you read Dalio's Principles? I'm about 50 pages in. It's pretty darn interesting.
That was Virginia, BTW. I accidentally submitted before putting in my name...
Yeah...its amazing isn't? Funny you wrote that tonight as I was reading it while eating dinner (yeah I know not the healthiest thing). I am not as far as you but agree it is an awesome read. Several others told me that also.
"He also advised businesses on how to manage risk and published an economic newsletter."
http://www.newyorker.com/reporting/2011/07/25/110725fa_fact_cassidy?currentPage=3
If you go tothat link, it states he was writing articles early on in his career, which made a few 'jump to him,' sort to speak. I'm trying to get a hold of these old articles, but to no avail. Can you also try to find it?
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