A slowing of the trend in the S&P 500 over the past few sessions has evolved into a more pronounced sell off overnight, and by the time you read this my ongoing E-Mini long campaign may have already met its maker. And that would be perfectly fine as we’ve been riding this rally way beyond expectation. And I mean that in a strictly technical sense and not an emotional one. A 3R or 4R winner is considered a very good run these days, especially given the increase in intra-day volatility over the past few years. More than double that should always be considered the rare exception, rather than the norm. That fact of course does little to prevent most retail participants from [...]
I was in the midst of parsing for symbols just now when precious metals suddenly kicked into overdrive and quickly proceeded to push outside their respective trading ranges. Which of course is a very good thing as we happen to have grabbed a few seats on the bus just yesterday. After most of 2016 consisted of enduring one nerve wrecking sideways churn after another it’s really good to see some good ole’ fashioned trending action again. We had almost forgotten how it feels. Plus since the start of the new year we keep getting lucky with our entries. Let’s hope our streak continues for a little while longer
It’s lonely at the top, so the saying goes. But we’re not even at the top yet and I am already noticing a distinct lack of good company. I was pondering a bit yesterday on the fact that I hadn’t seen a single joyful comment regarding the ongoing two week plus rally, especially given that there hasn’t been a single attempt to produce an obligatory correction. What I did notice was a heck of a lot of chatter regarding the miners and pretty much everything else. The big elephant on the trading floor remains to be this relentless equities advance which for some reason is barely being talked about. Not counting of course the obligatory MSM clickbait attributing it [...]
So much noise and so little substance. Never has the world wasted this much time mentally masturbating over 1st world social or moral issues, which in my recollection were settled several generations ago. Does really everything have to be questioned or overturned? Is this really all we have left after apparently having passed the zenith of Western civilization decades ago? Almost to emphasize the very point I made in last Friday’s post, Milo Yiannopoulos has now apparently found himself in the crosshairs of the mainstream media for alleged pedophilia related remarks he made sometime last year.