Helder da Silva is a 37 years old Portuguese now leading the World ranking of WTI with gains of 163% since the beginning of April. Helder devotes a greater percentage of his time and energy researching stocks to buy, mostly Portuguese stocks. He made his gains on the long side but he was quick to close all positions, in what can now be considered a wild week.
The dollar fell to a new low for the year on friday, while commodities hit their highest level since November. Gold finish the week at 960 usd, but according to sources physical demand for gold around the world has been weak. According to Dorsey Wright gold also has a nasty habit of rushing higher just before a correction takes hold. Mariusz Ganczar second on the world ranking and trading only forex saw the markets insensitive to bad news until last week. Although home foreclosures spiked 32% in April and credit card companies were cutting back, markets and the dollar were living in fantasy until the beginning of last week, and then the dollar slipped to its lowest point against the euro.
Unlike politicians or fund managers, participants of WTI are playing around with their own money, they cannot afford chasing the market. They seem to see a change, not a big change but a change nonetheless.
We will be back next week for an update.
