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Pushing Buttons
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Pushing Buttons

by The MoleMay 13, 2014

After yesterday’s sudden spike higher it was reasonable to expect a sideways session today. Nevertheless I’m sure that lackluster tape and in particular the non-confirmation on the Russell is pushing all kinds of emotional buttons, especially among late comers (which is probably the majority). Well, I guess that is the general idea – keep ’em guessing and chasing their tails.

Now obviously my TF campaign has found a quick and ignominious end as I was stopped out at 1125. Not much lost and that’s the reason I kept it pretty nearby. Of course that is regrettable but on the other hand it does open the door to a much better entry – more on that below.

This is actually quite an improvement – we now have an inside day right on top of the 25-day SMA. That is definitely something I can work with, especially given that it’s bi-directional.

The NQ is still in the running but the day ain’t over yet. My stop remains a tick below 3600. Nothing to do here.

Wheat – I forgot to post an update about it yesterday as we closed out a previous campaign at 1R. And now we get another IP very near the 25-day SMA, which is still rising. I would take both entries on this one however.

Quite a fine collection of setups waiting below – please join me in the lair:

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Good stuff on the roster today and I’m curious how things are going to play out as Forex and equities seem to shifting into a new market period. Whatever you do – keep with the program and don’t let your emotions lead you into risky trades. See you guys tomorrow.

Cheers,


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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