Revenge Of The Silver Surfer
1:30pm EDT: Full disclosure time: I wanted to mention that I bought a load of SLV Oct 12P this morning.
This is a long term trade which I will hold into the summer.
Hey, this actually looks a bit like me – LOL 😉
2:00pm EDT: Channel update:
I cleaned it up a little but it’s still not super reliable. However, I think that 940 -936 is a bounce zone. If you are bullish this is where you should grab positions – easily managed by a stop a few points down. If you are bearish this is the uncle point. Personally – I have no clue – Zero is completely flat at this point and I’m looking forward to my weekend – not in the mood to pick sides – already banked my coin this morning and this tape sucks.
Geronimo is long again since 944.50 – didn’t get the best entry if you ask me – but I’ve seen it win in the end before, which is why I’m also cautious about the short side. evil.rat and resident.evil are flat right now – resident.evil/ES was stopped out this morning.
3:20pm EDT: I just updated the channel chart above – take a look. Seems like we are doing a little retest before we (hopefully) drop into the close.
3:30pm EDT: We just touched VWAP on the NQ from below and it ‘seems’ as if we’re kissing this pig goodbye. Of course anything can happen in the last hour of Friday with so little participation.