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Re: IMF: 'Decisive action' needed for euro/Lee

Yup, I think the next week or two may be among the most 'interesting' of the year! Lots of moving parts right now with the European situation looming large and the end of QE2 just around the corner. What the Fed says and does in the coming days will have a significant impact on the markets and the direction of things going forward into the second half of the year. The big questions in my mind are if/when QE3 enters the equation, and how fast Big Ben implements it if the wheels really start coming off the broader markets. Obviously a time to be on high alert if trying to position for major trends emerging in the aftermath of this key juncture in time.

As for NG, no worries there my friend. Was actually nibbling on the buy side once again for the first time in awhile today. Have banked significant profits already this year on a multitude of positions in this sector, from NG producers (ECA for example) to ETF's, to deep-in-the-money options. As I said to someone recently, reaping returns from this market requires the attitude/planning of a marathoner (position trader) versus that of a sprinter (daytraders/short-termers). Also, as I've stated before, NG IS a 'widowmaker' for the average retail spec and has once again chewed up quite a few of them in the past week. Both bulls and bears have been bludgeoned by the wide swinging volatility of this beast in recent months. The key to success for me has been in building/maintaining a base at the extreme value areas (low $4's or better for NG) while selling trading positions into strength and rebuying into major weakness, like today. The overall strategy works to build a sizable core prior to a major breakout of the base building period. For the moment, the NG complex continues on amidst a sea of horrible negative sentiment, with most traders either fleeing in disgust after massive losses on both sides, or avoiding the opportunity completely, not willing to touch it with a 10 foot pole! From my contrarian perspective, it is a beautiful thing to behold and I am happy to have as little company on for the ride as possible at this stage of the game. To say there is a massive wall-of-worry at present is a huge understatement, lol...NG continues to be absolutely loathed here despite fundamentals that are steadily improving.

Anyway, just my personal perspective, and I'm sure most will disagree. Most wouldn't believe I'm sitting in an overall profitable postion currently either, but so be it!

Best regards and happy trading to you.

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Re: IMF: 'Decisive action' needed for euro/Lee