“If you always do what you’ve always done, you’ll always get what you’ve always got. If you don’t start somewhere, you’re gonna go nowhere. The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively… don’t gain the world and lose your soul, wisdom is better than silver or gold ” – Bob Marley
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Tricky Read
“We keep our cool when others don’t. The point is, markets adapt. Don’t listen to all the crap out there.” – David Tepper
It’s a tricky read on the indices at the moment but it does look like the one to watch now is the Dow, especially if it unwinds the recent ramp through previous yearly highs. All the others are already showing signs of fatigue despite the odd perky intraday ramp here and there.
Something else that is worth considering in how CL has pressed into our targets in the low 40s despite recent news and as the VIX keeps not really caring… as we have said before something has to give.
Lastly, nice little positive daily close on GC right off the 200dma, we are not going to complain as we see this an extremely interesting asymmetric opportunity for positioning into the weekend.
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.
Follow Through
“What seems like a crazy idea today eventually grows. It’s a ‘with hindsight’ thing. One day, someone will turn around and say;That was genius.” – Natalie Massenet
No change to what we discussed in our latest weekly outlook video. It’s all about follow through now that we have pulled back from these recent highs.
Our main focus remains on CL (unresolved business in the low 40s), GBP (still structurally short across the board) and NQ (something important happened last Friday and we expect more downside).
Here are some of the charts we will be reviewing/discussing today:
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.
CB Week
“Danger for most of us lies not in setting our aim too high & falling short; but in setting our aim too low & achieving our mark.” – Michelangelo
As discussed in our latest Weekly Outlook Video, it’s all about the Central Banks this week and it looks like BOC wanted to step in early and get some of the limelight.
In this kind of context, the trick is to focus on being patient and letting the market come to you. After the action we saw on Friday, it is natural to want to continue to see volatility pick up and to be able to trade a busy market environment. However, the reality is that markets have their own time schedule and especially when all the risk is stacked toward the back end of the week, it is not realistic to expect to see aggressive and sustained action out of the gate as of Monday.
Here are some of the charts we will be discussing today:
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.
Game Time
“You should never be in a position where the outcome of one single trade could change your life; neither for the good, nor for the bad. Once you really internalize this – and it’s a lot harder to do than it may seem on the surface of things – then you are ready to start working on consistency and longevity in a professional manner.”
As we discussed in the Weekly Outlook Video, the main focus this week was getting to this ‘mega’ Thursday. naturally, with these kinds of events, there is always the risk of the day ending up to be a disappointment in terms of actual moves but it does look like we should get some action.
Just as a reminder: UK Elections, ECB Rate/Presser and Comey testifies. Here are some of the charts and levels we’ll be focusing on.
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.
Focus
It would not be natural to not have to deal with all kinds of emotions but it is essential to understand that a low, focused and consistent level of intensity is key. The vast majority of people that become proficient have learned the importance of keeping a level-head and tend to reflect this kind of attitude. The calmer you are, the more focused you can keep yourself and the more effective you will be at executing.
We are starting to see some of the moves we have been looking for accelerate: Gold Up, USDJPY Down, Bonds Up, Crude Down… the key piece of the puzzle is if Equities can follow.
As we discussed in the Weekly Outlook Video, Thursday is the day to keep an eye out on and especially, everything that revolves around the Comey testimonies.
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.
No Pain & Gain
“Magnitude of losses and profits is purely a matter of position size. Controlling position size is indispensable to success. Of all the traits necessary to trade successfully, this factor is the most under-valued.” – Mark Ritchie
We are getting ready to see what comes out of OPEC today as the equity ramp, on far from impressive volumes, continues. So far, more of the same: equities up, DXY down, VIX down but with bonds and GOLD still bid… something has to give. As we like to say, it’s not a matter or ‘if’, just a question of ‘when. Stay tuned…
Videos uploaded this week: Morning Call & Weekly Outlook.
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.
Charts & Levels
“Also, I don’t think you can make money unless you’re willing to lose it. Unless you have money that you can afford to lose and still sleep at night, you don’t belong in the market. My willingness to lose is fundamental to my ability to make money in the markets.” – Mark Ritchie
Quiet start to the week so far. We discussed where we stand, what to look for and event risks in our latest weekly outlook video.
Here are some of the charts we reviewed while we wait for things to pick up:
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.
Perking Up
“You have to be able to think clearly and act decisively in a panic market. The markets that go wild are the ones with the best opportunity. Traditionally, what happens in a market that goes berserk is that even veteran traders will tend to stand aside. That’s your opportunity to make the money.” – Mark Ritchie
