The market is feeling somewhat healthy today. I thought we were supposed to sell off every day this week? I’ve been taking a few trades in the EUR, NASDAQ and S&P. Excuse my lack of posts, I’ve been spending all of my spare moments making and seeing music lately. This always happens into July, with all the magical feelings in the air. I make hip hop music. One day I’ll put up a noodle raps post, or some shit.
My portfolio is on vacation. FAS, TNA, FB, GMCR puts, ATVI calls, 60% cash. Its not changing much. I’m waiting till I get a tell on something juicy, and I intend to strike on it hard. Probably after this weekend. Until then patient noodle is waiting. I stopped out half EXK, widened the stop on other half.
Its important to know when not to trade. It was one of the rules in my elements of a better trader post, which was horribly written by the way. I was just getting the flop out of the way on Sunday there, however I strongly believe those four things help one trade better. I’m on a bit of a two week vacation involving music festivals and staying up late on weeknights, so its better for me to wait and come back with spirits revitalized. I’ve been going hard for 6 months, it feels good to not give a fuck for a couple days.
- $CL_F back over $80.00.
- EURUSD not holding 1.25 (I still think its going to 1.20)
- $ZB_F (30yr bond futures) not rallying today
- Since noon on Monday the trade has been a buy (NASDAQ, S&P)
If the EURUSD was turn upwards, I think equities will start racing. If the 30yr was to turn upwards, equities will turn back down. There is probably some floor on Oil, preventing it from collapsing to 34 again (fib), which is good for EUR. It doesn’t really matter to me what happens, I’ll be back in full force and sharper than ever next week. Keep on rocking’.