My Sincere Apologies
I feel rather ashamed today as apparently my inherent failings have finally caught up with me. And frankly speaking – after years of mindless chatter it was just a matter of time.
Let’s take the ES futures for example – yesterday I proposed a strong possibility for a bounce at 1380 due to a gaping volume hole looming below. Well, instead the spoos bounced at 1380.5 – I missed it by a whopping half handle. Unforgivable – and that’s being kind!
Then there was the AUD/JPY – you may recall me suggesting support near 85. In reality we turned at 85.16 – the Mole missed it by 16 pips, which is almost unfathomable and where I come from they take people out at dawn with blindfolds for less than that.
Frankly I have no idea how my subscribers continue to put up with me – week after week, month after month. After all there are many market megalomaniacs out there, some of whom regularly miss reversals by tens or hundreds of handles. I guess I’ll just have try harder and in the interim humbly ask my intrepid readers to tolerate my daily ramblings.
Okay, enough with the self deprecating cynicism – I’m starting to get on my own nerves. That was a sweet little bear trap this morning and if you were a Zero sub then you probably hopefully saw it coming miles away. If not then I recommend you spend the weekend watching some of my session wrap up videos which I consider the best S&P futures trading bootcamp available. And you may enjoy the tunes. Then again, I am a man of simple pleasures.
NZD/USD – I suggested a long near 0.805 (to the subs) yesterday and if you took it then you’re looking pretty right now. Yes, money makes you irresistible, big boy! Just ask your mother.
My AUD/USD stop was touched as it decided to reverse course and I’m back long again with a stop slightly below that NLSL.
EUR/JPY – yesterday I compared it with a stuntman falling into a stack of cardboard boxes. And the analogy wasn’t that far off as it bounced right back with all limbs attached.
And as promised I not only held my EUR/USD position but actually added a few once it pushed back above its 25-day SMA. The chart says that I added near the NLBL – my mistake – what I mean to say before I slipped on this Freudian banana was that the NLSL held up today and thus increased the odds for a push higher.
And here’s the one that got away. Yesterday ZB (30-year treasury futures) pushed into their NLBL. Unfortunately I didn’t see it and neither did any of you toddlers. Which means we all missed out on today’s ramp-a-candle. As I said – I only have myself to blame – but it’s good to see those Net-Lines working their magic over and over again (even when we rats aren’t paying attention).
Have a good weekend
This entry was posted on Friday, March 23rd, 2012 at 2:10 pm. Both comments and pings are currently closed.