A Few Quick Entries
I spent a bit of time this morning extending my weekly top/bottom stock parser to also include NYSE, AMEX, and Nasdaq symbols, thus increasing the number of candidates considerably (from a bit over 500 to several thousand). This will most likely help us even out the long/short ratios during historically bullish or bearish weeks. Pulling all that data from Yahoo Finance proved to be a bit of a challenge as they’re quick to cut you off after a few hundred requests. So I implemented a ‘top up’ function which downloads only the most recent data each week instead of getting the entire historical data every time.
Devoting time on accumulating and managing data locally is never a waste of time. As you learn how to slice and dice it you invariably come across a myriad of ideas on how to potentially leverage the data and the statistics tool I recently built is just one example of just that.
Speaking of data, another area I’m currently exploring are crypto currencies as there clearly is a lot of interest among both retail and professional traders. One aspect of that of course is to be able to not just access live quotes but to also place orders via exchanges like Poliniex or Gemini. The low hanging fruit of that would be to be able to feature pertinent analysis and of course trading opportunities right here on Evil Speculator.
Since being stopped out at over 3R in ill-gotten gains I have been fairly quiet regarding the equities side. Main reason that there really isn’t much to be said unless an opportunity presents itself. Despite having delivered ample profits the stop out was a bit unfortunate as the SPX bounced right back and continued higher since. And until we see corrective forces make themselves felt we’ll just have to wait and see as chasing the tape higher at this very stage is not part of my trading.
However what I wanted to share with you was the volume profile on the E-Mini which shows an increase in participation/activity above ES 2540. Should the E-Mini continue higher from here then the current range (and the big volume hole below it) may aid us a support and potential entry zone.
Alright, so I promised entries and I intent to deliver. The USD/JPY shook us out of a long campaign recently and I’ve been watching it since. The current spike low on the hourly panel does correlate well with the rising 25-day SMA and I decided to take out a small exploratory long position (i.e. 0.3%) here with a stop below 111.65.
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