“I like putting all my eggs in one basket and then watching the basket very carefully.” – Stanley Druckenmiller
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Eyes on the Russell
“There is no place for arrogance or complacency in racing because you are up there one minute and on your backside the next.” – Tony McCoy
Here are some of the charts we will be discussing and reviewing in today’s webinar. Needless to say, as already discussed, the key one to watch is the Russell. We remain at a key inflection point with a lot of complacency and headline risk.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.
POST SOTU
“Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers and cousins of the original. The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line.” – Jesse Livermore
What we would be keeping an eye on today:
(i) Indices around the pivotal levels: hold below increases chance of correction and offer interesting asymmetric opportunities
(ii) Crude closing below the pivotal 55 mark and holding heavy
(iii) USDJPY still not buying the magic carpet ride ramp in equities and still holding heavy
(iV) commodity currencies still heavy and pointing to more risk off
(V) bonds still holding the underlying bid
> all in all similar, tells across the board.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Wishing you a great day ahead.
Chart of the Day
“When nothing seems to help, I go and look at a stonecutter hammering away at his rock, perhaps a hundred times without as much as a crack showing in it. Yet at the hundred and first blow it will split in two, and I know it was not that last blow that did it, but all that had gone before.” – Jacob A. Riis
The aggressive squeeze continues in High Yield and it’s going to be key to see how this resolves for the next structural move across the board. As we have been discussing, our outlook on Junk and the broader markets has not changed in terms of a bigger picture view.
Once again, it’s all about the FED. The turn this has taken is simply > Hawkish FED = Pressure ON / Dovish FED = Pressure OFF. We will discuss this today and how it’s important to both trade the hand we are given but also understand the limitations of this simplistic view and how we think this is likely to resolve. The Quick-Take is: nimble and tactical on intraday opportunities but use the broader action to position swings.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Chart Update
“The greatest fear in the world is of the opinions of others. And the moment you are unafraid of the crowd you are no longer a sheep, you become a lion. A great roar arises in your heart, the roar of freedom.” – Osho
Today we will be reviewing 3 key charts we have been focusing on this week:
ES > all about the 2600 mark from a day and week close basis now as we wait for Powell to speak today. Don’t forget the Buyback Blackout Period and q4 Earning…
USDCNH > trade for the move back to the opposite side of the range is done and now it becomes very interesting. Remember that this is going to be key for a lot action across the board.
DXY > Moving along nicely for now. Focus will be on how we trade through Powell and how we settle this week but no change in outlook. Our Euro and Yen swings remain in play.
If you are interested in a more structured way of tackling the business of trading, attending a live daily morning call or a more detailed discussion on the charts we post / trade ideas, don’t hesitate to check out our Premium content.
Darwinex Update
Another step in the right direction. Darwinex will now offer direct market access (DMA) to single stocks. We are all looking forwards to the upcoming webinar where we will get more background and details. Stay tuned…
If you are focused on continually improving performance, wanting to operate in a professional environment and potentially earn additional monies from your trading activity, then Darwinex is really a no-brainer.
Darwinex allows you to legally market your trades for a 20% investor success fee without any of the hassle involved in setting up and getting regulated for a managed accounts business. Furthermore, this is done protecting your intellectual property by never disclosing live trades and in addition, offering you a whole host of analytics, as well as access to a serious investor pool. Basically, you have a lot of upside with no downside.
Please note that we are talking about a serious platform, for serious traders, with realistic expectations. This is not something for gunslingers, get-rich-quick-aficionados and/or storytellers. You don’t necessarily have to be consistently profitable yet but you do have to have the intention of doing things the right way and the Darwinex platform offers you the possibility to do this. Furthermore, Darwinex independently rewards traders by investing their own funds backing the best strategies (current allocation is 4M Euro per month).
Advantages of registering through 50Scouts:
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gives you the opportunity to get backed by 50Scouts funds.
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allows you to benefit from a number of special member webinar sessions; ranging from best practices, strategy optimization, attracting investor monies and special updates from Darwinex available only to group members.
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offers you the possibility benefit from a free 30m one-to-one call once you have reached the minimum experience level to launch your Darwin. Basically a mini mentoring session with 50.
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entitles you to receive special invitations to attend select Weekly Webinar Learning Group Sessions (usually once per month).
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as an Investor: not only allows you to benefit from all the trader benefits listed above but also gives you access to Darwin performance/selection webinars and offers you the possibility to qualify for a free 30m one-to-one call to review your portfolio and selection criteria.
Wednesday Update
“But the real object of the Game is not the money, it is the playing of the Game itself. For the true players, you could take all the trophies away and substitute plastic beads or whale’s teeth; as long as there is a way to keep score, they will play.” – George Goodman (aka Adam Smith), “The Money Game”
In case you missed it, here is our latest Weekly Outlook Video.
Note for active 50Scouts members: make sure you keep an eye on your inbox for a free pass to Friday’s daily webinar session (make sure to check your spam folder too).
As always, there is no substitute for real-time/live action; if you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.
EURUSD Chart & Video Outlook
Quick Link > Latest Video Outlook
Thought of the Day
Obsess less about entry & trigger / Focus more on size & exit > One is for show and the other for dough 😉