Whip Mode – Adapt or Perish

This week is reaching defcon 4 trading risk. Your charts are important in these conditions but even more critical is your patience.

Ranges are elevated and headline risks are dialed up to full tilt. We are now subject to stock price movements driven by oil and central banks with a side flare of terrorism.

You need to stay sharp, adhere to preplanned risk profiles, and take your trades.

Keep in mind this afternoon’s FOMC minutes. We have weekly oil/gas inventory stats and eyes are already on Friday’s NFP report.

Less is much more in this environment. Less well focused and concentrated positions, less capital moves, and smaller position size.

I’ll be back later today with some levels on oil futures. Yes, we’ll be monitoring the oil auction closely in 2015. We have no choice!