Trashy Thursday Rub Down
Trashy Thursday Rub Down
I don’t think I can take much more of this crap:
Okay, this last move to the downside has bear trap written all over it. I mean – look at the participation and we didn’t even see a drop below the zero mark. Now maybe I snorted one line to many this afternoon – had to get the smell of glue out of my nose – but I would not want to be exposed to the short side right now. Maybe I’m wrong and we gap lower – it happens as I don’t have a crystal ball – the overnight tape will probably show the way.
Program Trading Report:
evil.rat/ES: -4.75
resident.evil/ES: -4.25
resident.evil/NQ: -8.75
geronimo/ES: -7 (based on closing it at the EOD)
Somehow this tape managed to fuck all strategies today, no matter which direction they were trading.
Quick comment about the Geronimo close. It was actually supposed to hold overnight and close out at the first few candles tomorrow. But I didn’t have a flag set properly in my strategy – sorry about that. But this brings up another topic: Do you have to hold overnight? Absolutely not – we decided that we will release it this way as the profits are 30% higher and the success rate actually increases. But we all know that holding overnight is risky – if in doubt feel free to close out at EOD.
In any case – I set the flag now and reloaded the strategy, which means that it’s still holding that last trade. If you are in cash and get a Geronimo closing alert tomorrow morning just ignore it.
I’m not done complaining though – what really riles me about today’s tape is this:
Blue Death: Either we barely pushed above our bullish inflection point to complete Minute {v} of Minor C of Intermediate (Y) of Primary {2} and it’s possible that we are already in Minor A of Intermediate (X) to the downside (I don’t think it’s Primary {3} just yet).
Green Death: OR we dropped back into our whipsaw zone and will complete {v} of C sometime in the next few days – not before driving bulls and bears alike to the brink of insanity of course.
There was no way I was about to start loading up on puts at friggin’ 956 somewhere in the middle of nowhere – no sirreeee – we have been through this exercise way too often.
Boy, this tape sucks blocks – this is a lot worse than 2008 if you ask me. I know I’ve said this before but I can’t wait for Primary {3} – I’m going to rip these bastards a new orifice. In the meantime I’m all cash except for my Silver puts – capital preservation is the name of the game.
Cheers,
Mole