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Archive for February, 2014
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Owned It!

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February 28, 2014

Owned It!

So I ask all of you guys: Just a day or two ago – how many of you imagined that we’ve be pushing toward 1870 on Friday? I surely did not and I remember a bunch of folks here and over on the Slope who were predicting that the bulls ‘were done’. Just like those 1980s pop idols – where are they today?

Given such directional bias I am pretty certain that a very small minority took my short term entry near 1844 on Thursday morning. Which at this point has banked me 22 handles and counting. Now yesterday I already eluded to the fact that I am turning this into a long term trade as we are two hours away from triggering a monthly inside period. [...]

2522
 

Enjoy Your Spanking!

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February 27, 2014

Enjoy Your Spanking!

I have to say that I’m mighty damn pleased with myself. Just this morning everyone was trying to get their bearings and my entire watch list seemed to by jumping all over the place. Crappy tape and everyone was on edge.

Confusion. Fear. Frustration. Over the years they have become my best friends, or at least let’s call them trusted allies. Pay attention when you come across any of them as those are those precious moments when the odds are in your favor – the problem is that very few of us are paying attention. We are too involved in our own emotions and interpretations. And it goes both ways – when I feel super confident and on top of my game I [...]

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Out Of Noise Emerges Opportunity

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February 27, 2014

Out Of Noise Emerges Opportunity

I think we can all agree that this has been a rough week across board. Forex has been leading the crazy train and I’m sensing quite a bit of whipsaw frustration in myself as well as fellow traders and readers. Of course that is exactly when you have to be ready to jump on entry opportunities. For out of noise often emerges opportunity.

Since the recent lows the bulls have been pumping the tape higher and we managed to rack up ten consecutive higher highs on the E-Mini S&P 500. After an obligatory shake out day we proceeded higher but hit a low volume wall near 1860.  This week we’ve seen sideways gyrations on top of the 100-hour SMA which eventually [...]

2820
 

Watch Your Six

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February 26, 2014

Watch Your Six

Mole’s pervasive paranoia apparently was right on the mark. As you may recall I mentioned early Monday morning that I did not care much for the patterns that started to emerge on the Forex front. This caused me to reduce my exposure and recommend small position sizing and wide stops. I hope you followed suit as the tape we are seeing all across the board has been rife with volatility and shake out attempts. Apparently we are getting ready for a big move.

Fortunately I was spared a lot of whipsaw this morning by holding back and waiting for a touch of the 25-hour before considering taking the long trigger at 1851. As you can see we ran all the way to the 100-hour [...]

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