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.
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 😉
If I would have to name one single quality in this game that separates the few winners from all the losers I’d point at persistence as what counts the most. There’s not one day that goes by when I don’t work my butt off to keep myself on the winning side of the tape. You’ve seen me post quite a bit of educational content as of late and it seems to have been well received as we got several likes by stocktwits and some renowned players. But at the end of the day knowledge and even skill means absolutely zilch if you don’t show up for work every single day and press that button when it’s time to take action.
The Dollar is really taking it on the chin this morning and this may be just the beginning as I see a good number of crosses push into possible short term trending action (bearish on USD base crosses, e.g. EUR/USD, and bullish on USD counter crosses, e.g. GBP/USD). Clearly the Fed is going to fight this, as a weaker Dollar is beneficial to appreciating equities.