Equities are actually looking productive for a change, as we have major indices in sync retesting medium and long term support. That’s a respectable long opportunity although I am already inversely exposed and must let that one resolve first before embarking on any new campaigns. Which is an iron rule I very rarely violate and only if I see very compelling reasons to do so. When in doubt stick with the script, especially in whipsaw tape. Not because you will always bank more coin but you will lose a lot less by not getting lured into abrasive campaigns which push your buttons and further lead to excuses to re-establish bad trading habits. System purity almost always trumps [...]
Friday the 13th has always been a lucky day for me – I kid you not. It’s Saturday the 14th that you’ve got to watch our for. Why you ask? Come on – it’s Evil Speculator 101! Because you finally relax and let your guard down, which is exactly what Jason has been waiting for! Anyway, spending the weekend at Camp Crystal Lake shouldn’t be a big deal to anyone trading the spoos these days. Calling these swings ugly would be a compliment as the clean up crew at the CME has been pulling double shifts steam blasting entrails and dismembered body parts out of the trading pits.
We literally have juicy standing in line here at the evil lair. If you’re not on the list you’re not coming in, so consider joining our club or be forced to make due with the leftover freebies. So equities pulled a surprise jump yesterday, the possibility of which I actually flagged early in the session. Apparently however my warnings were not heeded as many of you were caught with your pants down. Tisk tisk… well, that’s what you get for fading the Mighty Market Mole 😉
Good things come to those who wait. After a bit of downtime over the last two weeks, and focusing a bit on options and the educational front, it’s time to snap back into action. I’m seeing some very interesting formations across the board this morning, so let’s dive right in starting with equities.