Everyone Keeps Looking Down
Okay I’ve got to get this off my chest as it’s something that has been bugging me for a while now. Almost everyone I talk to or follow in the trading community continues to look down. And we’re not just talking retail rats who just opened their friggin’ TDA account last week. Nope – seasoned players who should know better (and who I won’t name) have been steadily waiting for a sell off for well over two months now. And of course have taken a hit in the process.
I mean just look at the daily chart above. Does anything in particular stand out to you? Yes?
THE MARKET KEEPS GOING UP!
Now it’s not that I have been a staunch bull since late December and I am also not saying that a correction is impossible here. But if you’ve been visiting over the past few months then you know that I have been constantly considering both sides of the equation, each step on the way.
And thus managed to squeeze out a comfortable edge, simply by taking it one session at a time, fading the various trolls and perma-bears, and by re-evaluating the odds in the face of each new piece of the puzzle.
So color me confused. I’m used to retail rats sperging all over the place offering spurious predictions, then changing their mind back/forth on every single wiggle. But the pros really should know better and I’m not sure what’s going on there. Maybe 2018 has thrown some sort of bearish switch triggering a directional bias that many are unable to snap out of.
Okay meanwhile at the woodshed I’m advancing my trailing to 3R with 4R MFE, possibly more if the session holds up. T’is was a good entry opportunity and I’m honestly surprised that very few jumped at it after I literally emailed it to thousands of my core readers. I guess it’s lonely at the top after all.
Incidentally the SPX:VIX ratio has been pointing UP (yes the opposite of down) since last Wednesday, which is when we entered. There is method to my madness after all 😉
This is all I’ve got for now. By the way, it’s April’s fools day so if you come across quirky clickbait do yourself a favor and don’t waste your time.
By the way, if you missed these or other recent entries or perhaps even found yourself on the losing end, then head over to the sign up page to once and for all remedy this unfortunate situation. Evil Speculator Gold goes for less than the cost of a single E-Mini handle and if you enjoy trading it you may as well sign up for the Zero which includes Gold plus a continuous feed of our most popular market participation oscillator.