We have a brilliant long entry opportunity today and I am posting it early while I’m still hunting for other symbols. Long here now or on a little dip lower with stop below the overnight spike low at 1992.25. Odds are mixed – 50/50 at best but pretty significant upside potential if it plays out. This is the type of trade I would take every single time.
Long on AUD/USD on a dip lower near 0.713. Stop would be below 0.7080.
The evil Santa theme I facetiously posted yesterday appears to have been more prescient than I would have cared for. Equities literally turned on a dime and continued to dive lower all day. Suffice it to say that I’m a bit miffed as we may have missed the boat here. In retrospect this was a good spot to grab some shorts but without a bit more context and only half a session after the FOMC announcement jumping into entries seemed premature. It’s conceivable that we’ll get another bounce ahead of Christmas but I’ll be honest – that was a strong move and the situation is looking pretty dire here.
On a side note: The whole ‘evil [...]
Santa apparently came early this year and he’s ready to play! I hope you haven’t been naughty and stuck with our script or he may be paying you a special reeducation visit. Alright we’ve got setups setups setups! Equities seem to have held up well overnight and we seem to be on course for a continued squeeze higher.
The only fly in my ointment was the rather marginal Zero signal post FOMC announcement. Clearly very few players were participating ahead of time but I would have expected a bit more juice there an hour or so after the verdict. But let’s not jump to conclusions just yet – we’ll be monitoring the situation today and [...]
Bonds are getting burned this morning, more than a full session ahead of tomorrow’s FOMC madness. And I’m not talking junk bonds either – as I’m typing this ZF, ZN, and the ZB are all on a tear to the downside.
Forgive me for being a bit skeptical here but either someone knows something I don’t (very much possible) or fear and panic are starting to kick in early. Either way this is excellent turf for bottom feeding market rodents like yours truly – when there’s blood in the streets and all. That said, I’m definitely waiting for the short term panel to paint a convincing price pattern as I’m not in the habit of [...]