Evidently that’s the message the Boyz want us to understand.
Counter rotations are brief and a thing of the past, forever dooming shorts to failure.
That’s the message, please don’t shoot the messenger.
In what I believe is one of the more manipulated markets I can remember…knives are caught and thrown right back boomerang style.
The bigger problem?
As they say, we don’t bring a knife to a gun fight.
It frustrates the shorts who think of the market as “dangerous” at this level.
Exactly what does that mean?
The Boyz have brought out their smoking guns, as we climb a wall of worry.
Analyzing markets is not easy, but nimble day traders can take something out of it as we battle the “can we take it out or not” mentality.
Using the knife to cut yesterday’s pi a la mode.
Maybe it was Apple?
If we don’t want to buy support, then take profits on fading the resistance zones and higher highs is one way to play.
Trimming back our expectations for range trading in low volatility markets is a must while that play is working.
Use stops, push away from the table.
49.5 magnet and git’er done was all she wrote… for now.
Yes, we will get a solid, sustained pullback. Where or when is what speculation is all about.
Crash? Who knows. Sure, they come along, but we cannot build long term strategies around outlier events. We can protect ourselves from them by being prudent, vigilant, and sidelined when risk/reward ideas warrant caution. Arrogant economic policies that inflate assets usually end badly, as history has repeatedly shown.
Shorts keep some powder dry.
“Me too hedge funds“* are chasing and obviously are weak hands if they missed the nine month rally.
“The big and the small, they are the same”- A book of Five Rings.
*Pass The Emini wizard System on to someone you know who could benefit from my insights.
E: RT @BamaTrader: Thanks, E – appreciate your stream and contributions. #FF @eminiwizard / thank u and honored #EMWS #ES_F
E: RT @GICfutures: … being greedy & buying falling knife … / lol latest blog, not finished … title is “Buying knives ” #EMWS
GIC: @eminiwizard Nice!!!!!! Thinking alike probably because we see the same thing and have a heart to help others #EMWS
Agreed. It often feels like we are alone in this business. Find a few good friends and share the journey. Thanks to Awais for his efforts to reach out and bring us together.
Carve a piece out of each and every day…
and if we are wrong, reverse and go the other way…
Best to all..