The Creative Fields and Trading

The S&P rallied again yesterday to close at its highest for the year. It is also close to its calendar year intra day high. You may ask what do I infer from this?. Well who knows? I just put it in there because it sounded like a nice fact to place upfront!

The Dollar Index fell again. To a new low for the year. The Dollar carry trade is a crowded trade and may be for a good reason. The few remaining Dollar Bulls are getting slaughtered and any Dollar Bear who tries to change his proverbial spots to become a Dollar Bull soon learns the hard way the fallacy of his methods.

In this scenario, commodity bulls are having a great time. Almost all commodities except Natural gas are trending up. Currently, precious metals are doing better than industrial metals.

I am still long the Nifty. I have increased the stops on my long positions to 5050.

I am a nice man so I will not hog everything. I will leave it to others to write about interesting stuff like open interest, roll positions, volume data, highest gainers, losers, advance decline numbers, FII numbers etc. Wow! I could at least name a few of the data points that one must track.

By the way, do you know what is common between creative fields like acting, writing novels, painting, sculpting, sports etc and ....trading?. These are the only areas where the successful few can really work only a very little of their time and still earn tremendous amount of money. No other area has this advantage. (I mean that the owner of India's largest business could have a lot of money but very little time of his own). Of course the caveat is that one needs to be successful. The problem is that it is in exactly these fields that only a few who try are successful. More than 90% end up as also rans. And in the also ran space one neither has the money nor the time.

Ok If you want to know... currently I am in the also ran space!