It’s been a rough week and I can sense the exhaustion here and in various waterholes I’ve been poking my nose in lately. Unfortunately there’s really nothing to be done here but remain patient, emotionally balanced, and vigilant. Patient in respect to lasting through what has effectively been a year long sideways market (with a quick downside correction mid year), emotionally balanced in the context of our own participation, and vigilant as to not miss out on a juicy entry opportunity when it occasionally represents itself. All in all we have done extremely well this year and surviving this mess means means we have been sufficiently battle hardened to take advantage [...]
As we are officially embedded with the bear brigade it’s now time to scope out the bull’s long term defense perimeter. Since Sergeant Gold Gerb suffers from chronic insomnia he was uniquely qualified to make his way into enemy territory overnight and report back to us. Not only was he able to collect extensive intelligence, he even managed to take out a nest of stop runners single handedly with nothing but a sharpened spoon. Now here’s some of what he uncovered:
On Monday morning, sensing that a multi pronged strategy was needed, I presented you with four distinct scenarios which I separated into convenient color codes according to their respective trading directions. After a brief spike up we were treated to Soylent Orange which quickly and somewhat unexpectedly turned into Soylent Red late last night. To repeat, what we were waiting for was a quick drop below the green diagonal, followed by a retest of ES 2140.
If you’ve been dropping by the lair for more than a few weeks then you probably know that I’ve been a huge Metallica fan since the mid 1980s when they released Master Of Puppets. So the other day I’m at the gym listening to some testosterone inducing station on Spotify. And out of the blue ‘Moth Into Flame’ pops up, which confused the heck out of me as I had been completely unaware that Metallica was releasing a new album. I thought to myself ‘wait a minute, this sounds like some of their old stuff but somehow I must have missed this one‘. You can imagine my joy when I later realized what was actually going on.