[09:27] E: market will be confused at the open
I probably should have said “confused all day long”.
Our premise was that early shorts would probably get beat, then it would be late longs turn.
How high the squeeze?
High odds turning point we had between 32 and 35.
Mechanical longs wanted more, and that of course turned out to be their undoing at the time.
Month end bias long.
Short side bias based on Friday’s close 14.75.
Bias for me was hit the bounce, accept stop out, try again.
If 29.75 broke, any day high available, but likely to get back and fill.
Nibble short, be surprised with solid trade short.
Yeehaa, we got it, and with a safer style of trading.
Half gap trade was for 20.5, and we believed that was the “carrot” support below the 22.
As we approached our 22 support, it was be careful and lunch coming so better off not expecting much time.
We presumed the pb in the late morning was a contra move, so the market should bounce again, but to how high was the question.
When we get a gift from Mr Market, we take it and say thank you.
[08:40] E: this is Holiday Hurdle
[08:40] E: shakeout longs
[08:40] E: then jump the creek
We don’t have all the answers. We do have some of them.
[09:06] E: market is trying to BS everyone
30 globex a chart in play today
Prudent shorts tried several times. First objective is get $ back when stopped out, then look for more.
Multi-day pattern can be seen with deeper look.
Charlie in trouble all day.
I hope you came back refreshed from a long Holiday weekend, and found your rhythm today.
Risk/reward seemed to be the best concept for taking trades today.
Find a good one, or don’t play was our advice.
[08:18] E: long weekends
[08:19] E: produce their own challenge
Dancin’ shoes on, takin’ it step by step.