Out And About

I don’t pad my own shoulder very often but I think I was on fire today and handled this crazy day like the pro I aspire to be. Once you cancel out the fear and just do what needs to be done it all comes naturally. The final trick is to trade the tape you see – not the one you hope for.

I only have time for one chart tonight as I’m getting ready to head down to San Diego early tomorrow morning. But I wanted you guys to see this – remember I projected some wave {1} and wave {3} fibs last night? Well, we bounced off the 50% multiple of Minute wave {3} today – almost exactly. Coincidence? I think not!

As I said last night – I can only mark my charts where a turn around might happen – but there are no guarantees as we have long left the physical universe in which free market forces of supply and demand matter. The liquidity pump was working full throttle today again. But then – sometime late this afternoon – some big shoe stepped onto the fire hose and buying pressure suddenly diminished. The humble drop we got into the close frankly is not worth writing home about but it might be a first sign of weakness. A little pullback at this point sure would feel nice.

Frankly, it’s going to be tough for me being separated from my evil lair trading unit until Sunday evening. There will be little time to check my positions on the road and if things go against me I’ll be completely unhedged. But in the past 10 days there would have not been one good day to travel anyway. And if by some cosmic coincidence we drop tomorrow I might just have timed it right. Of course – just to to be on the safe side I sacrificed five goats and spanked three virgins (tough to find in L.A.) this afternoon which should sufficiently appease the Dark Lord of Trading. Guess I’ll know by tomorrow afternoon if the Virgins-R-Us overnight delivery was a waste of coin.

I will return to L.A. Sunday night and thus will most likely be unable to post my weekly forecast that evening. However, I will try to make up for it as best I can Monday might. I hope that Fujisan will volunteer to pick up the slack or at minimum post the occasional comment cleaner for you chatty bunch. Good luck tomorrow – it’ll be a wild one – that much I’m sure of.

Cheers,

Mole

12:09am EDT: I just closed out my USD/JPY short for a profit (again) – I’m loving that FX – it’s like taking candy from a baby 🙂