Thrashed

I’m actually referring to myself although I could say the same about equities or crude this morning. That harmless little cold I was fighting over the weekend has somehow turned into some nasty super bug. Let’s just say that it wasn’t a fun night – I feel like I got hit by freight train.

But enough about Mole’s trials and tribulations. Thor actually grabbed a short on the E-Mini two days ago – so far so good. As you can see the 25-hour SMA is now offering solid resistance and as long as we are painting lower highs and lower lows I would be very cautious about looking for a floor. The 100-day SMA is above us now and this could easily turn into a massive wipe out.

There is a lot of fear in the market right now but I don’t see any good entry opportunities. It’s tempting to participate when things go volatile but I still need context to justify an entry. Equities and especially crude are in free fall right now – until a floor presents itself it’s best to let existing positions run but refrain from being lured into spurious entries. The Forex side is all over the place and most currencies are extremely volatile featuring long candles and fast retracements. This is not the type of tape you accumulate in – it’s when you let your existing positions run.

Catch you guys later.

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Cheers,