Where Is Everybody?
Where Is Everybody?
UPDATE 11:55am EST: Okay, the comment count is in the toilet – yes, I admit I’m spoiled but I fear that a mass arrest of my evil minions has taken place. See you in a a few years, rats! Whatever you do, don’t pick up that soap!
Okay, I’m hunting for future victims. Here’s one I might like once we reach the top of Minor 4 – CCJ. As you can see we dropped back to a longer term diagonal. There’s a chance we bounce back but I think the entries here are clear. You could even go long here to scalp a few points, but would set a tight stop.
Anyway, I’ll hunt for more and check back in.
CF – don’t grab it right now. Wait for (hopefully) another touch of the diagonal resistance line.
UPDATE 12:37pm EST: Here’s another one that might be ripe soon:
Again, don’t grab GRMN now – wait for this line to be touched.
Okay rats – this is a code red activation! I want to see symbols symbols symbols! What we are looking for are short candidates which are one of the following or even better a combination of:
- Ready to be entered in a day or two
- Are overbought on a short or long term basis
- Are liquid – 2 Million minimum
- Are optionable (meaning bid/ask spreads are not insane)
- Diversified – I want to see symbols from all sectors
Get to work rats – this is not the time to sit back and relax. This is when you plan your next move.
P.S.: Please let’s not debate the wave count to death. We are moving in the pattern right now – if we start seeing discrepancies to the current high probability count then that’s the time to break our heads about this. It seems to me that you guys are fishing for justifications to back up your current trades/conviction.
UPDATE 1:41am EST: Oh, I LOVE the stochastic divergence on DLTR:
Grab it now. Bitch has horrible bid/ask spreads.
UPDATE 1:57pm EST: I was thinking about waiting but might grab GLD puts right now. Look at this:
Might pop higher but I do like this diagonal.
UPDATE 2:20pm EST: We reached the target zone for Minor 4 of (5). I’m however a bit torn – it’s possible that we but even higher into the 760 region. I’ll scale out of some of longs, among which MA produced just nicely 🙂