The market did the ole’ bad data, positive reaction thing, which according to my matrix is the most bullish market activity out there.
This led to a short squeeze across the board. Which is nice. Our first attempt out of the major balance area from ~ 1651 – 1641 is to the upside. So far the profile is establishing a P-shape which tells me aggressive buying activity, likely shorts covering, drove price higher and now we’re balancing out. The question on everyone’s mind now should be, will new buyers step in and initiate new longs? Or was the action only temporary before we resume a path lower?
I can’t call it. The market will. Watch $ES 1659.50 as your barometer to the former, and 1652.50 for the latter.
I took some profits in my SNDK weekly options because, well, they expire tomorrow! Awesome. It’s kind of fun to put a timer on your trades, when you’re right. That being said, I’m holding one runner into this attempted breakout.
I bought NBG. This is probably dumb, but MANNNNNNNNNNNNNNNNNNNNNNN, I gave serious consideration to buying that last dip. Danger: revenge trade.
What else, what else…ah yes, I sold a bit or RGLD exactly as planned. You must love seeing a good plan play out for old Raul.
I sold OMEX, it looks like it might roll.
I booked ¼ of my $DDD long. I’ll always take 5 percent home.
I lost money in the futures today, taking stupid trades.
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