Jumping On Board
DarthMole just predicted volatility expansion on the E-Mini and I’m jumping on board here with a small long position. Given the whipsaw I’m only taking out 1/2R with a very conservative stop below ES 1940.
In case you’re wondering, yes – a short position below 1940 is possible but I would most likely start with 1/3R and then build it up as things move our way. Clearly the tape has been very effective in shaking out both sides, prime territory for market makers and scalp mongers. So don’t get married to a particular direction folks – this could resolve either way.
Soybean oil is trying to make a run for it. Throwing 1/2R into the pot here. Stop below the recent NLSL on the hourly. Interesting spot as I’m seeing a possible floor pattern.
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Have fun but keep it frosty.