The Camouflaged Trend Day

In some aspects, today started like a trend day, with the gap up. Then the morning linger and a range extension lower had it looking like a neutral day when buyers pushed the highs.

But when all the cards were dealt, and of course the river card is still in the deck (the close), we are looking at a trend day.

Value isn’t following yet, but we keep building little range distributions and then breaking higher, like a trend.

There’s little for me to do in a trend, day trade wise. I am managing my longs and considering the usefulness of my SKF hedge. These hedges are good when they lose money because that should mean you’re making money net-net. But they can become a dragging anchor when the wind is on your sails, if you know what I mean—a regular Debbie Downer.

Nevertheless, my prediction early this week was for strength into tomorrow afternoon then a roll. If that occurs then I will want SKF-philis.

In other news, I bought the dip in oil.