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Not Out Of The Woods
53

Not Out Of The Woods

by The MoleOctober 4, 2016

Yesterday’s low participation stop run on E-Mini came within a tick or two of my current trail which still sits near my break/even point. I assure you that there was no foresight or technical skill involved whatsoever and I’ll ascribe it to pure luck. We’ve had quite a bit of that in the last few weeks and it tells me that I probably shouldn’t push my good karma quota and treat lightly.

2016-10-03_zero

If you peek at the right panel you’ll see how participation completely disappeared after Friday and he bots were simply kicking the ball back and forth.

2016-10-04_spoos_update

Unfortunately the price action overnight does not show any directional bias and it’s quite possible that this campaign meets its maker before the end of today’s session.

2016-10-04_soybeans_update

Things look quite a bit more directional now on our soybeans campaign which I suggested to the subs yesterday. Of course it couldn’t just take off without trying to stop us out first but I had suspected that much and decided to place our stop a respectable distance away below that recent spike low. So far so good and I suggest you advance your stop to break/even now.  Once again we are in a sideways range (on the daily) which may prevail, thus protecting our entry after 1R MFE is permissible.

2016-10-04_silver_update

Silver fell off the plate and I just got stopped out a little while ago. That is unfortunate but all isn’t lost just yet as we may get a second entry opportunity courtesy of the weekly.

2016-10-04_silver_weekly

And here she is in all her glory. I’m not surprised that silver is tossing and turning here as that weekly BB is compressing ever so tightly. A big move is on the horizon and I think the bulls have the advantage on this one on a long term basis. If this one busts higher there will be no stopping it and I strongly recommend you keep a watchful eye.

Anyway, the next setup in the foreseeable future will be near 18.56 where we have a weekly NLSL plus there’s a 25-week SMA that ought to provide support. If she drops this low I’ll be there to claim my constitutionally guaranteed long entry.

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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