No Prisoners!

Round and round she goes. I think at this point we are way beyond the patient threshold of even the most callous market participants. Fortunately we have movement on the forex front which offers us a much needed reprieve from the eternal gyrations in the equities woodshed.

I managed to hang on to my E-Mini shorts by a thread – that poke 2051.75 stopped me out but I jumped back in a handle lower with a stop above 2052. Right now we seem to be sliding lower but I’m playing with funny money here so I don’t really care what happens (but I’m still holding SPY lottery tickets from last week).

If we drop lower then I think that 2022.75 is probably going to stand as a first line of support. The lower 100-hour BB awaits there and so is the daily NLSL with the 25-day SMA right above. And if that one gives we still have the 100-day SMA and a daily NLSL at exactly ES 2007. So quite a lot of support waiting below us.

Please don’t take my exposure as any predictive/directional bias – I’m playing the tape as I see it and there is no telling where she’ll swing tomorrow. Mrs. Market is in a shitty mood this month and she ain’t taking any prisoners.

But let’s get to the good stuff – forex is looking juicy this afternoon and we’re having ourselves a helping. Here’s cable which I want as a long above 1.5235 – my stop will be below 1.52 and change.

More below the fold – please join me in the lair:

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This ought to keep you guys busy for a while – get to work!

Cheers,