I am staying out of the way today as higher time frame participants rip through the financial complex. Here we are, the second quarter is up and running and volatile. We’re yet to see anything redeeming from the bull camp who came into the day with the disadvantage of short term control being sell side.
Fueling the dislocation of bulls is transports. Airlines were downgraded today sending my SAVE position careening toward earth. I am not fully satisfied however and will remain positioned until my hand is forced.
Oil is making a barbaric move to the upside on the news we are again (and always) at war for the sacred goop. Twtter caught an upgrade off of Periscope yet is in purgatory until the overall market can shape up.
The session low looks okay, but it is still much closer then session high. Bulls have to ‘climb the flagpole’ to claim victory on the day. Range extension is still up for grabs but we may end up printing a normal day.
Until more color emerges, sellers are winning and it’s best to stay out of their way. As for oil, you’re either already in it, or an observer IMO.
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we got the blessed rum.
Yyes