Quick note today as I am running late with an assignment.
The short trade of silver was triggered today, but I would urge readers to keep a tight rolling stop. The stop would depend on your risk tolerance level but I personally would keep it really tight. For e.g. right now silver futures (/SI) is at $ 31.82 and in this situation my stop would be around $ 32.25. Better still, if you have not taken the trade, rather wait it out for the cycle to bottom by end of the year.
Wheat is showing the positive consolidation pattern and I am waiting it to break above $ 820, re-test the break and make that as new support, to go long.
Equity indices are on fire but lots of divergences for comfort. VIX has a negative divergence with SPX and so has Dr. Copper. So far cycles have not bottomed yet so I am not long but I have identified some very nice and juicy numbers for going long in a few weeks time.
We may see some pull back starting tomorrow afternoon but no need to guess and front run. Let everything line up in a row before we open fire.
That's all for tonight. Will see you tomorrow with a more detailed report.
The short trade of silver was triggered today, but I would urge readers to keep a tight rolling stop. The stop would depend on your risk tolerance level but I personally would keep it really tight. For e.g. right now silver futures (/SI) is at $ 31.82 and in this situation my stop would be around $ 32.25. Better still, if you have not taken the trade, rather wait it out for the cycle to bottom by end of the year.
Wheat is showing the positive consolidation pattern and I am waiting it to break above $ 820, re-test the break and make that as new support, to go long.
Equity indices are on fire but lots of divergences for comfort. VIX has a negative divergence with SPX and so has Dr. Copper. So far cycles have not bottomed yet so I am not long but I have identified some very nice and juicy numbers for going long in a few weeks time.
We may see some pull back starting tomorrow afternoon but no need to guess and front run. Let everything line up in a row before we open fire.
That's all for tonight. Will see you tomorrow with a more detailed report.
