So I ask all of you guys: Just a day or two ago – how many of you imagined that we’ve be pushing toward 1870 on Friday? I surely did not and I remember a bunch of folks here and over on the Slope who were predicting that the bulls ‘were done’. Just like those 1980s pop idols – where are they today?
Given such directional bias I am pretty certain that a very small minority took my short term entry near 1844 on Thursday morning. Which at this point has banked me 22 handles and counting. Now yesterday I already eluded to the fact that I am turning this into a long term trade as we are two hours away from triggering a monthly inside period. Which means I will put my stop at break/even (1844.5) in anticipation of a more protracted short squeeze.
In case you wonder why – yes, as usual there is madness to Mole’s method – or was it the other way around? The P&F target now points toward 2000 plus – that would be something. I’m sure we don’t get there in a b-line but I would be happy with a push above 1900 this time around.
Here’s another victim I suggested in my morning update yesterday: Natgas was chugging along inside a very narrowly compressed Bollinger and I was looking for a ST entry. Today’s NLBL got me in near 4.5 – my stop is below 4.3. Now I don’t have a dog in this fight and fully expect to be stopped out. But on the off chance she’s able to bust above that 100-hour SMA on Monday we should be golden.
Two more futures setups looming below for my intrepid subs – please join me in the lair:
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And that’ll be it for this week – it’s been a wild one but if you paid attention and stuck to the script I’m sure you came out on top. And now it’s time to kick back a little and reach for your favorite malt beverage – I’m sure by now y’all know my favorite poison:
There you go – a group picture – how nice! I think I’ll try to cover that in sequence over the weekend 🙂