Eking Out Some Profits

It’s been some turbulent pre- and then post-holiday tape; but by courtesy of our policy of fading the noise and by choosing our victims carefully we have been able to eke out some profits. Once again I’m seeing a lack of participation in the comment section which suggests that many of you are missing out on ill gotten gains.

That’s unacceptable for any self respecting steel rat. Don’t make me call the Techno Viking! He’ll sort you out!

That was some prime rib AAA entry on the spoos this morning. It’s still early to tell if it’ll hold but if you’re in this one then I suggest you hold it, assuming that we close above the 100-hour SMA today.

AUD/NZD was one of our setups for the subs yesterday. We ventured into this one as the weekly was scraping a pretty established diagonal plus it had peeked outside its lower 100-day Bollinger. Almost a picture perfect entry there near the close of the session and thus far we’re good about 1/2R (since we only played 1/2R). I suggest you move your stop to break/even now.

The Forex side is bestowing us with two kick ass setups today which both have weekly implications. I can’t believe I’m throwing this one to the wolfs but nobody seems to be trading anyway. Anyway, I’m long here with a stop below 1.2355 BUT what I really want to see is a breach of that mark which may lead us into a slide lower. So this is the play – long right here and anything below the green line is bearish territory.

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Bonus Chart:

The Zero has been producing very nice Mole scalp signals today. However note that the signal range on the Zero Lite today is very small (i.e. < 0.5) – so we are NOT out of the woods just yet here. I think the close will be important which is why it’s a condition of holding on to today’s ST longs.

That’s it for today – now get to work steel rats!

Cheers,