No dancing Oompa Loompas thus far and that means we’re still in the game. Both the gold and silver campaigns are looking pretty good this morning so I hope you had a chance jump on board yesterday. Whatever you do keep your hands and feet inside the boat and don’t touch anything! Like Mr. Wonka the market can be rather unforgiving if you don’t know how let your winners run.
Yesterday’s late session hours presented us with a possible long opportunity but I wouldn’t blame you if you missed it. The divergence on the Zero Lite was pretty pronounced after the fact but proved nearly impossible to time.
Equities may be ready to paint a retracement here but we need to see a bit more context. If you’re already long since yesterday then you got a perfect entry and I suggest you do nothing and keep your stops loose. However if you’re still looking for an entry opportunity then you may want to consider the following:
Conceding we have very little technical context right now I however do love the short term panel on the E-Mini right now. Without further ado – here’s our evil scheme for the day: Grab a small short position here until about 1960 (we’ll have to watch the Zero after the open). If 1960 gives then I’m long with a stop below the current spike low near 1940.