Monday Snooze

I’m not going to exacerbate your suffering by reemphasizing what a boring ass session we had to endure today. Early in the morning DarthMole suggested a jump in volatility and by the looks of it I’ll have him report to the Evil Speculator dungeon for a much needed tune up.

Really not much happening there on the daily panels. Many of the futures contracts rolled over last Friday and I’m always a bit cautious taking entries until we’re a few days in. However that said – copper is looking pretty juicy as a long right here and now which is why I just emailed this one out to all the subs. Put your stop below the BB and Bob’s your uncle. If stopped out I may consider going short as the daily looks like it just passed through a wood chipper and the bus would be literally empty.

Then there’s silver which I may throw 1/2R at if it breaches any of the IP triggers tomorrow. There is a lot of misdirection in the tape and something is telling me to not test my luck.

Currently we have a ton of symbols which are on a rampage (i.e. Dollar and Yen, and of course equities) while a bunch of the futures are in sideways mode (AND just rolled over). My charts are not yielding a whole lot of context and thus the Mole hunkers down and prepares for the EOY Santa Rally. I suggest my steel rats do the same – no reason to spend time watching this slow motion sideways churn today.

Knowing when NOT to trade is half the battle.

You’re still here? Damn it – don’t you have a family or something? Friends? Facebook page?

See you tomorrow 😉

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Cheers,