Now Reading
Still Under The Weather
26

Still Under The Weather

Still Under The Weather

by The MoleOctober 29, 2013

After a rather unpleasant and sleep deprived night the cold I caught over the weekend continues to tax both my immune system and my patience. Back in L.A I usually managed to avoid catching the cold or the seasonal flu, but over here in Spain life is a bit more dense and social – thus it’s a lot more difficult to avoid exposure. If you’ve ever been to a Spanish tapas bar then you probably know what I’m talking about. Plus every other person you run into greets you by kissing you on the cheeks – I mean, I know I’m irresistible but why Spain hasn’t yet been completely depopulated by some Asian super bug escapes me.

As you can imagine my head is not in the game today – unless I’m 100% I usually don’t even look at the market. Trading for a living is a difficult endeavor to begin with and there’s no use trying to catch a good setup if your head is spinning and your nose runs through one tissue per minute.

Alas, since Scott apparently can put up posts whilst having his appendix removed I decided to quit being a pussy, roll my rotting carcass out of bed, and at least poke around for a few good charts. Unfortunately I didn’t find much. Equities are continuing their low participation run higher and as I pointed out – this can go on for quite a while and I don’t see any salient entries. Great tape if you’re trend trading and holding from a lower entry – difficult tape if you are looking to catch a few swings or get positioned either way. There simply is nothing to hang your hat on.

The one chart I would touch today (drippy nose or not) is the CHFJPY which is currently attempting to run across two NLBLs and test its 100-hour SMA. My triggers here are 109.050 on the long side – assuming it can breach the SMA and close above it – and 108.975 if the lower NLBL fails. Since I took this snapshot it’s pushed a bit higher and breached above the 109.015 NLBL, so if you are an eager beaver this is probably the earliest spot one should consider taking on any longs. A good stop for a long would be below the 108.975 NLBL.

In terms of volatility risks we have the Retail Sales at 8:30am EDT today – if you’re exposed on the equity or USD side then be prepared for a few wild swings. Alright, I’m going to return to bed and take it easy for a few hours. I’ll do my best to post an update before the close.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator