Plunge & Reverse Thursday Wrap Up
We’re getting a lot of very educational Zero sessions lately which is a good opportunity to get all the noobs up to speed. Yes, you could watch all the old ones – but I who am I kidding – anything older these days is considered an antiquity by you spoiled kids. That’s right – get off my damn lawn!
Not a very exciting session by any measure but a good learning experience if you are not used to handling what I call the ‘slow burn’. Usually you get a small divergence but things could still fall apart – like yesterday. But then things level off – the signal goes quiet – and quiet has not been good to the bears in the past few years. Then VWAP breach – and then instead of the bang you get the slow burn followed by a fast candle stopping everyone out. Can be nasty for stubborn trades who took on short positions near VWAP and are unwilling to be proven wrong. Well, they often accept defeat eventually when they are forced to chase for a bid as things explode higher. Timing is everything and cooking yourself in your own juice of bias and opinions is an expensive hobby – unless of course you are into that German S&M stuff.
The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a Zero subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.