You may be thinking that I’m crying over being stopped out of Friday’s long entry but nothing could be further from the truth. As a matter of fact this is exactly the scenario I was hoping for (and I think I mentioned that on Friday as well as yesterday). Sometimes winning one battle can lead to you winning the war.
So what exactly is the reason for Mole’s sinister enthusiasm? Well – let me put it this way: Where certain myopic others merely see a single failed campaign I happen to focus on the broader picture. And in my not so humble opinion we may just have been handed the big one – the real McCoy – the big Kahoona. As in the type of setup that only happens once or twice per year – IF that.
But before I dispense the goodies let’s catch up with yesterday’s short entry on the Dow. Obviously it remains to be the weakest of the equities trifecta and I couldn’t resist a short when it was trading below its NLBL and that 100-day SMA. Looking good today and perhaps this was the proverbial last kiss goodbye (LKGB). If you followed me into battle here then do nothing – let ‘er run.
Alright – on to the big kahoona – unfortunately I could not possibly share this one with the leeches. So if you want to play then jump over the fence and become a proper steel rat:
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