I remember in 2008, probably October, when TARP was voted in favour in Congress and Senate, everybody was expecting a ‘Yes, we are saved’ rally. Instead we got an ugly selloff. We might see the same thing here in case of Bremain. Market does the unexpected, when it functions properly.

@shambo , Exactly. If the market had been steadily dropping over the last several weeks or months on worries of a YES vote, then one could reasonable assume that much or all of the risk of a Brexit has been priced in. However, as the market has rallied a very strong 16% off the mid-Fed lows & is current only slightly below the 2016 highs, Therefore, I think that it is safe to say the market has almost fully priced in a NO vote which leaves little upside if that proves to be the case but room for a tremendous drop if the polls are wrong & we get a YES vote.

Thx for that feedback @getitriight @schooner & @dan123 . I had planned to update the trades ideas last weekend, removed a couple which were already stopped out as well as removing any that just don’t look very compelling anymore in order to make room for some new setups but it turned out to be a busy weekend in which I had to leave town again. I’ll use the rest of this week & over the weekend looking for new setups & with the market still in grind-mode, I’m considering adding some setups with smaller than usual profit targets (single digit to low double digit percentage gains) but only if I can find any that look to have a very good shot of playing out. That will allow us to get a few winning trades under out belts & make a few bucks until this market starts trending (I’m referring to something more than the two 4-5% up & down micro-trends that we’ve had in the broad market since April 20th).
I’ve learned that you can’t force trading just as you can’t squeeze blood from a stone. If the market just isn’t conducive to trading or I can’t find any compelling trade setups, I won’t post trade ideas just for the sake of posting new content. The next big swing trading opp is always around the corner & personally, I think this whole Brexit thing, although I realize the potential repercussions if it did pass, is simply a distraction away from the recent deterioration in corporate & economic fundamentals & the markets will likely turn back their focus to once the Brexit vote is behind us.
On a somewhat related note, although the previous GDX/NUGT trade was stopped out when the suggested stop was exceeded on June 8th (and that trade will be officially removed from the Active Trade category soon), it still looks likely to make another run back down to the 22 area & quite possible the 21 area in the coming weeks. Always a volatile trade but one of the better looking (bearish) charts right now & if it weren’t for the fact that gold prices could explode, should the Brexit vote pass, I would have added it back as an official trade idea recently.