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No positions for me.
I want to see how tuesday and wednesday play out.
After that I feel the way ahead will be clearer and
the profits easier to come by.Never give up, never surrender.
Good morning all,
Thanks David. I honestly feel it is more of a trading range that we are in, than a run away up.
Unemployment in UK is up more than expected, which suggests less companies furloughed than expected.
We are not out of troubled waters. There is no vaccine. I could go on and on.
That does not mean that it cannot go up. Sure it will have scary up moves and scary down moves still. I want to see how much followthrough there is from yesterday the rest of this week.
I certainly do not envisage getting out of my lower underwater shorts that quickly, it will certainly tease the bears before a big move down day.
Plan your trade, trade your plan!
I was thinking of it another way.
World economies are going to have to recover all this money they have spent saving the economy with higher taxes. For that you need employment. If you are unemployed you cannot pay taxes, instead need a handout.
The market will continue to get ahead of itself sometimes and then correct. Yesterdays +100 SPX was not a healthy move imo.
Plan your trade, trade your plan!
Globex low was 2935 around 4.15am
That 2925/2935 area on ES is the sticky area Bears need to get past below, otherwise bulls can use that as support.
So there is my first target for today.
The lower end of that would let me exit all my shorts (from yesterday) in profit.
Plan your trade, trade your plan!
My 2020 Bull/Bear Project ( A=Bull … D=Bear )
rates next week as BCCAA so the bulls own
the end of the week. Any early week drop
will be false and bought, imho.In addition Sat Sun Mon are rated ‘A’
This supports hatman’s warning of more gap ups,imho
Never give up, never surrender.
It continues to receive support in this 2925/2935 ES band.
Closed the DAX from 11111.6 at 10988.4 for 123.2 points profit.
Closed SPX from 2960.1 at 2942.6 for 17.50 points.
I still feel I can get better prices later, but best to take some risk off.
Plan your trade, trade your plan!
Not interested. Listening to Bartok’s 4th string quartet. How he could have written such a thing back in the 1920’s is beyond me. But that is what makes genius I suppose.
Closed yestetdays short for 7 handles with a hope to getting a slightly better entry point in the first hour
NAS rth is going for the 8am futures ‘h’ and Spx & Dow may follow.
It would be incredible if they did retest.
Never give up, never surrender.
Long Ftse at 5995 … stop tbd … limit tbd
I will book my seat on the northern train fully expecting
a wait and for the trade to go -ve.I will add when we get moving.
Start time unknown but this week.
Never give up, never surrender.
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