How To Trade Like A Gentleman
In tape like this it’s best to be on your best behavior and start trading like a gentleman. Care to make any big bets in either direction? But of course – please go ahead – you first!! I’ll be right behind you – (cough cough). Mom would be so proud – if I ever manage to track down that woman. Seriously now, as the VIX is heading toward the 13 mark now I am greatly limiting my exposure. I did manage to dig up a whole laundry list of promising symbols but I’ll be taking on only very small position sizes in the coming days.
On the E-Mini side we now have a nice spike which may be followed by an inside day – assuming we close below 1460.5 today. I would love to see that happen, in particular if it would be followed by an short trigger tomorrow. Of course nobody is asking me – for good reason.
My FX charts are still a mess (thanks TOS!! – I sweat bullets every time they announce a new release), so let’s sling a few stock symbols, shall we? Here’s AMZN, which also happens to paint an inside day. You know what to do – if not please check the cheat sheet.
AZO – that used to be one of the most stubborn climbers I have ever seen – until about last April. Loved to to ride this one for months on end. Anyway, right now it’s pushing into possible resistance and I’m short with a stop above the 25-day SMA. If it pops above I’ll reverse my position.
CCJ – great setup here right below the daily NLBL – I’m short right now and will add positions if it drops below the 25-day SMA – wouldn’t that be a shame?
Quite a bit more where that came from – please step into my evil lair:
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This entry was posted on Friday, January 4th, 2013 at 2:51 pm. Both comments and pings are currently closed.