Up a Creek
Today’s idea was let’s see if we can get a pull back after Friday’s nonsense.
[09:16] E: rain ping pong
Jump the creek long, (Friday) then jump the creek short.
Longs up a creek without a paddle.
From a bigger perspective…we are viewing the 1250 as the primary +/- idea. Other ideas are important of course, especially for day traders.
The huge differential in Holiday mode made us suspect a mirror day, albeit step by step.
Do you know what that difference was?
We ran a seminar on Intuition today. We gave several choices for possible catalysts in market ‘feel”.. Depending on time frame, multiple choice ideas were offered. Mirror Day and Differential from Fridays play was the key to seeing today’s pullback.. and that is an example of “intuition”.
The sucker bar knocked out the short stops then hit the pull back buyers until the 3 pm low.
Keeping it simple, step by step targets were posted on twitter.
Assumed late day support today was 42.
Start paddling if long.
Shorts, be careful of minor lows.
Globex charts show the trend down day, but the timing and price zone suggested marginal lows were to be respected.
Brief post tonight, I spent a lot of time watching a terrific webinar by the General and Brad Sullivan after hours. Well worth my time, hope some of you caught it.
Didn’t read it yet, but heard about this intriguing book over the weekend…
There may be Blue skies above…
(Until then, let’s range trade with caution.)