Bear Traps Galore
As I pointed out just yesterday: Nobody has a crystal ball in this game, and a ‘good call’ usually is the product of ample preparation combined with a generous helping of luck (that or a source on the inside). That said – we really avoided one big nasty bear trap there yesterday.
That signal explosion on the Zero stands in stark contrast with the minuscule participation we saw on the way down, which in itself was highly suspicious. Once again the Zero saves the day and if you were caught short after the open hoping for a reversal then you are a certainly not a Zero sub. Which by the way is a character flaw that is easily remedied.
I just put up a very small long position with a stop near 1966. The bulls need to kick this thing a little higher now or risk a reversal before the week is over.
Crude is currently threatening a daily NLBL and may just get out of the gate here. Thus, having missed an entry two days ago by just a few ticks, I’m taking advantage of another touch of the diagonal to grab some long exposure. My stop has been placed below 33.34 – and now it’s in the hands of Mrs. Market