Slim Jim Grinder
The game today was reasonably obvious, although there is never anything that is a “sure thing” in this business.
We felt that the 26 to 28 was support, and the 42 area resistance.
The charts seemed to support that, and the lunch pullback provided longs an opportunity to re-establish themselves at the middle and Woodie pivot near the vwap at the time.
Cable outage here left me missing a nice move, even though I read it reasonably well. Sometimes that happens.
Have a contingency plan if you find yourself in a position at the time…
Today’s action was a variant of the Double Angel trade. What was most peculiar was the long slim jim in the afternoon: a tight four point range. Ridiculous.
You are still risking your normal amount but expectation is for much less profit. Sometimes it’s better just to be on the sidelines.
The moving averages all aligned for a bit of a squeeze move, but the longs faced the 200 and the shorts were evidently waiting for the gap to fill or the 43 -45 area possible resistance.
Reports tomorrow, so we shall see how that moves things.
Congratulations to @expectingrain5 and thanks to all who RT’d the Nucleus Accumbens page. We will be sending him a free copy of that book.