Beating The Odds
If you recall my Monday post then you know that the odds were stacked pretty heavily against equities closing higher this week. But here we are at the open of the Friday session with the E-Mini futures pushing toward all new highs. Not that this is the first time that statistical bias has been steamrolled – on both the bearish and bullish side. Since early 2018 I have noticed an increasing tendency of equities running inverse to seasonal trends. Which is going to muddy the waters considerably if this keeps up.
Intra-day volatility on the E-Mini is on the increase and I have decided to abstain from raising my trailing stop until a convincing spike low has formed on the way up. Which was a good policy or I would have probably been already stopped out yesterday.
The new spike low marks the 0.7R on my long campaign and it will now serve as my new trail. Hopefully I caught a runner here as I’m prepared to ride this bucking bronco into the sunset.
I’m all smiles looking at my crude campaign. Another entry that was driving us nuts for what – a week or longer – until it finally took off. Well worth the wait and I just advanced my tail to the 1R mark.
Here’s another one that kept us waiting – copper. It’s now near the 1R mark and I’m going to have to roll it as the September contract beckons. I am probably going to wait a session or so until I jump back in this one.
Plenty more goodies below the fold – it’ll be a busy Friday!
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