One of the seven beers I had last night may have been bad as I am suffering from a bad case of indigestion. Now seriously, I have no idea what happened there as I suddenly started to feel ill working out at the gym and the rest as they say is tragic toilet history. So forgive me if I’m not my usual evil self today as I’m trying to kick whatever bug got into my system.
In somewhat related news Spain happens to top the list when it comes to tourists suffering from food poisoning, which doesn’t surprise me the least as I yet have to see a Spaniard wash his hands after using the toilet. No wonder they kiss each other’s cheeks instead of shaking hands here 😉
The Dollar has pulled back a little and it’s quite possible that yesterday’s lottery ticket is going to get flushed down the toilet shortly. Alright, enough with the bad food jokes. The pattern is technically still valid but is losing its luster which each additional tick lower. I guess I could have set my stop to break/even yesterday near the highs but then decided to not overdo it with being nimble as the odds of this campaign were low to begin with and thus small position sizing was enforced. In other words, it was worth a shot.
Soybean oil also back to where we started but this campaign continues to look extremely promising as the BBs are now swinging higher and the lower is in the process of pushing > our ISL.
Crude seems to be ready to put in a little correction, which is exactly what we have been waiting for. I’d love to see a drop to 64 or even a little below.
The E-mini is putting in a somewhat obligatory looking correction right now but as long as that NLSL at 2830.75 holds we may just get another leg higher. A short position is what you may be thinking about here but there’s no way I can be short equities right now. To find out why, join me below the fold:
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