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:
Barring a meteoroid punching a hole through our moon or the St. Andreas Fault leveling the West Coast it seems that the collective sideways churn will most likely extend all the way into the November 8th presidential election. No matter where you stand politically I’m pretty sure you hate this tape even more than either Hillary or Trump. But let’s remember that bitching and complaining is the domain of losers. Instead let’s think about how we can take advantage of the situation.
In case you are wondering – no, I didn’t acquire a glue sniffing habit over the weekend. Let me explain the four scenarios above and it’ll all make [...]
In the end it’s all about the money and more specifically what happens on the currency side. Although Forex trading has effectively been turned into a small sideshow in the United States, due to stringent Dodd Frank regulation that mainly affected retail traders, it would be a mistake to not pay attention to what’s happening on the currency side. And what I’m seeing across the board, on a long term basis, is rather disconcerting.
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.