Friday is usually my least favorite day to take on new setups, for obvious reasons, but beggars can’t be choosers and I’m glad that things are finally starting to come into sync across the board. Plenty of juicy setups today and I’m confident even Hoss won’t go hungry tonight!
I’m looking for support zones here as I don’t really trust this sell off. I’ll get to the why later but suffice to say that momentum on the way down has been rather pitiful which strongly points toward the scenario I proposed two weeks back: A pre-bear-slaughtering-season-shake-out followed by a Santa Rally pinning equities near positive for the year. After that it’s every man for himself – I expect a huge shake out for 2016.
I mentioned momentum on the way down and this is what I was talking about. The sheer fact that we enjoyed such a smashing swing trading session yesterday is a bit out of character. This is the spot where gravity [...]
I was staring at the E-Mini futures this morning – it must have been almost ten minutes just pondering and trying to figure out what was bothering me so much about this chart. And then suddenly I realized what was going on – and what also became apparent was that, no matter how long you are in the game, the tape still can always pull one over on you. The mighty Mole is not immune.
So the big epiphany I speak of was that nothing really has changed, folks. Remember all the sideways crap we endured for most of this year? And then suddenly we got a big slide (almost) out of nowhere – which we actually played quite well, but I digress. What I’m [...]
We got movement people! And obviously I’m not talking about equities where we’re still spasmodically bouncing around in the same six month trading range. Booooring! Unless of course you are the evil lair’s official Swing Slayer and that coveted title is already taken by Skynard. You will have to defeat him first and then send me one of his digits to assume his position. It also helps if you either have at least one dragon or an army of White Walkers at your disposal. Either that or just send me money – I am surprisingly corruptible.
Okay, let’s get the tedious charts out of the way first. Equities – I’m risking a tiny long [...]