That’s it – summer is officially over. Love or hate it – it’s time to mothball your summer outfits and start airing out the fall and winter gear. Before we know it we’ll be picking out Halloween outfits. Well, you will maybe – I’m already in character all year. Quite frankly I personally am looking forward to a cooler season as it has been one hellish and humid summer here in Valencia with an average dew point consistently pushing way above 63 Fahrenheit (17 Celsius). Which meant that every time I stepped out of our well air conditioned trading lair I started to sweat profusely within a matter of minutes. Having lived in Los Angeles for two [...]
We got pretty lucky there the other day jumping on the precious metals express train as there are but a handful of symbols I feel tempted to touch even with a ten foot pole right now. Clearly I was expecting a bit more post vacation participation but judging by yesterday’s tape across the board we may remain stuck in this churn zone from hell until further notice. The upside of being a retail trader is that nobody can force us to participate in crappy markets. Instead let’s focus on the few symbols that look promising.
The August trading blues are almost behind us, various futures contracts are rolling into their final month of the year, and I’m seeing a bit of movement in some key markets. Although I advise everyone to keep position sizing small as of now I believe it’s time to dip our toe into a few campaigns and also add a few promising symbols to our watch list. As always let’s kick things off with equities:
Given unremitting sub hellish market conditions I am beginning to channel my inner Clay Davis although I may have to acquire a special breathing technique in order to deliver profanities of such outstanding quality. Quite frankly I haven’t seen a single chart I like today and suggest that you find something more productive to do with your time before you may do something you’ll regret later.
Swing traders with nerves of steel and Buddhist monk like dispositions are of course encouraged to play the numerous gyrations. If you do then look no further than the Zero for valuable pointers as to where to get positioned. This is the type of tape when the little [...]