I’m pretty distressed by what I’m seeing in the comment section in recent weeks. There is increasing directional bias combined with an irrational urgency to catch every single swing. Let me take this opportunity to remind all of you that as soon as you believe that you are in control or possess any prescience as to the future direction of the tape Mrs Market will pick you up and deliver a thorough spanking – if you’re lucky.
The Zero is a fantastic market oscillator and frankly I still cannot grasp why not every single one of you trading equities is hooked on this thing. However that said – it is not the holy grail and does not give you license to engage in spurious trading activity. Of course sometimes what it doesn’t show you may be as important as what it does. Namely that, over the past few days, the signal has spent over 90% of its time above the zero mark. So when I say comments like ‘I’m all in‘ or ‘die b..tch‘ or ‘did you go short?‘ then I wonder if any of you are paying any attention to the prime directives that have been offered here for over eight years now. One of them being – wait for signal and for price to confirm before even thinking about placing a trade. We are not running a bucket shop over here!
I strongly encourage the culprits to spend some time meditating on this before you resort to posting paltry excuses or attempt to offer some hare brained rationalization. What do you think you are doing? This is Evil Speculator – so act accordingly.
Nothing interesting on the setup front today. Gold is slowing down but I don’t see a reason to go short here just yet. That said – the daily looks like it could embark on a massive short squeeze, which is why we need to bite our time. If I see a spike high and some weakness I will grab a small short with a stop above the SH. However if I see a quick drop lower then I plan on doing the opposite and go long. Again small positions sizing is appropriate here as volatility will work in your favor.
It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.