I know we’re talking summer tape here but the level of inactivity over the past few days has been a bit concerning. Equities continue to hover above a crucial inflection point and it wouldn’t take much downside to launch a wild ass covering session. The more time passes the more this thing is coiling up and accordingly the more violent I expect the resolving phase.
My ES campaign remains almost unchanged as it’s currently scraping a very modest 0.4R. It’s Friday and I’m not too excited about holding a position over the weekend, especially given all the craziness we’ve been bombarded with in the U.S. as well as over here in Europe the [...]
Whenever participation on the board dies down I pay extra attention as market fatigue usually suggests a profitable move is just beyond the horizon. Yesterday’s session in the E-Mini was anything but exciting, however it served us a nice support range in which I managed to place a long entry. I hope you guys can shake off your mid summer trading blues as promising entry opportunities are popping up all over the place right now. As the saying goes – the early bird catches the worm.
Apparently Pinchy Winchy was a game the Marx Brothers used to play with each other back in the day. It involved pinching the cheek of the guy next to you and I guess the loser was whoever didn’t find a cheek to pinch back. Now, don’t judge them too harshly – those boys didn’t have cable TV, the Internet, or computer games, and the bikinis of the time made a burka look outright frivolous in comparison.
Our previous gold campaign ended yesterday and so did yours if you followed my advice to advance your trailing stop to somewhere below 1355. However if you did not you then may want to check your trading account as the non-farm payroll numbers just dragged it to the woodshed for an extended session of rectal probing.