Wednesday Rush

I’m a bit in a rush this morning as I have a ton of chores on my plate. Besides I just ran through my chart lists and there isn’t anything new to offer until we see price resolution on various fronts, i.e. equities, precious metals, and in particular on the forex side. There were two charts however that caught my eye, so let’s get to it:

Behind door #1 we have the 30 year bond futures (ZB) which continues to coil up. I was actually waiting for the roll-over and with that behind us it’s entry time for the Mole.

Quite frankly I think you can probably get a better fill but I don’t have the time today, so I’m long here at 146 with ISL < 145’12. It’s a small position as it’s still in churn mode, but if it picks a direction I reckon it’ll bust a move (do the kids still say that or am I dating myself?).

Okay behind door #2 we have crude which just showed the shorts the big finger. I like that attitude but not the current entry so I’ve set a limit order to 56.4 with an ISL < 55.

Again small position sizing here. WHY? Because that daily SMA is still pointing downward and although the current medium term move looks encouraging I am trading against Donald’s WH put. Probably another reason to be extra picky with my entry.