Bad News And Good News

Some of you guys may feel a bit miffed having missed the bus to yet another fast spike to the downside. I however caution you to not let emotions rule your thinking. You may recall that the same happened on the way up a few days earlier and it could be worse as we may have easily blown higher without any chance of getting in. So the bad news is – we dropped back into the old whipsaw zone from hell. The good news – yes, we dropped back into a region where we may actually get positioned before the tape is ready to proceed to the next phase.

Here’s the view on the E-Mini – it took the express elevator down after bumping against our volume chasm starting near 1880. I don’t see any way in right now (or out if you got suckered in near the top). Best to stay out of equities as of right now. Bite your time and wait for better opportunities – let Mrs. Market come to you, not the other way around. She’ll let you know when she’s ready to party.

Quick update on the NG campaign – it got triggered this morning and is currently attempting to heave itself above that daily NLBL which is still standing in the way. If we make it above it today then we should be good for a push higher – as of now things are still hanging in the balance.

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Cheers,