Dow 20 Days

It’s funny—I communicate with many traders. Some are further along, some are about where I am, others trade entirely different, and some are grommets finding their way. Of the lot, none of them ever suggested using a NASDAQ 100 Net Tick as I go about my day. And I never thought of it, until today.

I like the information it provides while managing /NQ_F trades, especially in a slow tape like this. It also makes more sense because it tracks just the 100 underlying components of the futures contract. Added bonus: +/- 100 are your polar extremes making it simple to reason through…although this week I intend to run a 1^st and 2^nd sigma study on it, for good measure.

MOoving on—I took some risk today and bought momentum dips. The risk profiles are actually quite tight, thus I feel silly even mentioning their existence. They just as easily could be sold tomorrow before lunch. Plus, you never know which prevalent algo hunter is watching *tips tinfoil cap*

It is about as uncomfortable to take short-dated-momentum risk atop Mount ATH as it was to buy down in the trough. I suppose you must revel in said conditions in order to encounter the fortuitous gains of our benevolent momos.