President Trump: The NEW one and only politics thread

Thanks. No, I don't typically trade equities. I thought about shorting a few S&P e-mini futures when the selling started last night, with a tight tailing stop, but I didn't -- I wouldn't have been able to pay attention to it with my open positions, and it would have just been gambling.

I have been short U.S. dollar, long Japanese yen, so I had a very good day. There weren't swings, as much as a lot of people who were sitting on one of side of the boat who have gotten caught offside the past few days. I was positioned well into what turned into panic selling and panic buying today, and I am about to take some profits in Asian trading on the follow through.

As an aside, I have never seen the Euro this overbought. I was watching it within these things called "Keltner channels," which is a technical indicator that places moving bands around the daily prices. I have it set at +/- 2.5 times the 20-day exponential moving average daily range, centered around a 20-period exponential moving average. It's hard to explain something like that to someone without a background, but simplistically, when the price touches the high or low band, it means very oversold or overbought conditions. The Euro/dollar reached overbought levels on a daily basis yesterday, just touching the top band. Usually it backs off immediately and you can expect it to revert toward the mean -- even in trending markets (and it has been trending) it will take a pause and back off a bit. Today, it blew through the top band (beyond anything I have ever seen) with all of the crowded trades unwinding and the dollar selling off. I am really not sure what to make of it. I have never seen it get that far outside of its channels. It has run away and is several standard deviations beyond where it should be. I'll be damned if I will fade it right now, though. If you tried that today, it would have been like trying to catch a falling knife (in reverse).