Go Baby Go!
UPDATE 11:24am EST: So much going on this morning, can hardly keep up. We just bounced off of the YM 8473 S1 pivot but averages look very sickly today – thus far we remain below the VWAP. My puts are loving it.
Gold is getting closer to breaching that coveted diagonal support line. If you need some background on that story check out the weekend forecast.
Berk and I really like FSLR around 150.
SPR is one we already grabbed – we think this one is ready to roll over… I also love BEAV – check it out.
Watch the NQ today – it’s clearly leading the ES and YM lower today.
UPDATE 12:04pm EST: Now, this is starting to be fun – all my indicators are in red territory – we are a mile away from the VWAP in all futures – constant drop so far with only obligatory pauses. We might just drop all the way to 860 today.
How are you rats doing? Banking any coin? 🙂
UPDATE 12:12pm EST: I think we might get a little counter rally now. Might not be a bad idea to hedge a little – have seen nice profits today.
UPDATE 12:22pm EST: I dropped my NQ hedge, this might have been it.
UPDATE 12:33pm EST: Full disclosure – I just grabbed that NQ again – seeing some strength now and thought it best to hedge on my end. We need to consolidate a little – way overdue. Let’s hope this is it.
UPDATE 12:42pm EST: I dropped that NQ as we touched the VWAP on the YM and my other indicators showed me that we were overbought very short term. I’m watching that YM VWAP like a hawk as it’s what keeps the YM hugging the 8473 S1 pivot.
UPDATE 12:47pm EST: VWAP to YM: Computer says no!
UPDATE 12:56pm EST: I’m on fire today – come on rats – throw something my way! Anyway, look at this:
I find it interesting that the YM (and the other index futures) have been unable to exploit the drop in the Yen. Not a good omen at all for our mouth breathing friends….