How can you have a gratifying week feeling a bit cheated ? Or rather, feel like you are cheating a little.
Yes, I had a near perfect run with calling the EUR/USD, USD/JPY and Nikkei tops. Yes, it was great with the bond buy call last Friday.
I cannot find the words to articulate my feelings so I decided to draw it.
Policy makers, central banks, politicians have somehow managed to rig the red curve for happy endings every day and I am starting to feel insulted even as I pore through the papers looking for a new car to replace the old one.
Just look at these 2 charts on the USD/JPY and Nikkei Index.
Notice that there are more comments during the down moves than when its up and stabilising.
It is fun while it lasts but I still feel it is kind of odd because of the imbalance and feel it will blow out of proportions to create an acne out of a pimple. Because once the talk is over, people will realise nothing has changed.
The cynicism is growing.
|WSJ : Not-So-Independent Central Banks
|Marketwatch : What you need to know about Japan’s breathtaking rally|
Quotes like these surfacing on line.
“Japan announces a new stimulus or currency weakening every day.””Can we have our free markets back please ?”
The contrarian is selling USDJPY at 88 and waiting for 85 in the next week.
Wish me luck !