Wrapping Up A Profitable Week
Call it what you want, the Trump Election Ramp or the Farewell Obama Rally – it’s been a great ride for us and we’ll be wrapping up another profitable week. And boy do we deserve it after fighting off rattlesnakes, blood leeches, and sharks with laser beams for most of the year. But that’s how it goes really as a trader. You work your butt off every single day but the most profitable earning periods often come down to just a few weeks. Of course if we knew which ones in advance then being a trader would be a lot easier. Absent a crystal ball your default mindset should be that every single week may be the one. Okay, granted -maybe except for a few mid summer holiday weeks, they almost always suck
I am already long silver and if you’re a sub chances are you are as well. For the rest of you guys, you are in luck, here’s an entry you may consider today or on Monday. FWIW, this one is really testing out patience, which either means it’s going to disappoint or it’ll bust higher in a big way. The more they try to shake you off the bigger the reward. It’s not a guarantee but if you’re a seasoned trader I have an inkling you’d be agreeing with me.
Soybeans is yet another one that has kept us in suspense and as you can see it actually dropped below my break/even spot but has not stopped me out yet. The daily panel is actually starting to look even better and if I wasn’t in already then I certainly would strike the iron now. If you must follow us in the abyss then I suggest you place your stop below 1020 or lower.
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It’s Friday and instead of my regular Hefeweizen treat I’ll be following tradition and switch to a nice glass of Glühwein. If you’ve never had it then boy are you in a for a treat – here’s the recipe. Please don’t waste a perfectly good 1986 Saint Emilion on this, any cheap bottle of Six Buck Chuck will do just fine.