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Recently the stock markets have been rather unpredictable, surging one way on political news and flipping the other way when new statements are released. For example, gold plunged over $30 in just under 5 minutes, dragging the EUR and other currencies down. Later that same night, “positive statements” regarding the fiscal cliff fiasco gave markets a sentiment boost, which has carried on today.
I was bearish on the Singapore markets, but I have liquidated my shorts for a small profit and now watching on the sidelines. I am ready to flip based on the price action. It doesn’t matter whether it’s long or short, as long as I am on the winning side. In the mean time, I am putting my skills to good use by consistently building up my capital in the forex markets, so that I will be ready when the move in the stock market comes.
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Spencer is an avid globetrotter who achieved financial freedom in his 20s, while trading & teaching across 70+ countries. As a former professional trader in private equity and proprietary funds, he has over 15 years of market experience, and has been featured on more than 20 occasions in the media.