When it comes to trading action, count today as one of the worst, especially in
crude oil … yea, everybody knows we’re in the week between Christmas & New
Years, and some years action is OK … this ain’t one of ‘em … at least so far,
“hump day” [that’s Wednesday for you Biden voters] has been very
disappointing … granted, there’s Thursday & Friday to go and anything can still
happen, but it ain’t lookin’ good.
Only the DOW30 [so far] has any kind of decent “Trading Ratio” [TR], coming in
around the 4 level … that’s the good news … on the other side of the coin, from
the criminal NYSE open to now [about 3 hours], it’s been straight down after the
usual Chipmunk feeding at the open … crude oil & gold might as well be closed
… a little down action, but it’s a “baby crawl” lower action that does nobody any
good … looks like volatility has started drinking early for New Years Eve … add to
that very subpar ranges, and what’s the point?
And as I write, gold turns around and rallies $10+ off the low … quite frankly, I
was looking for a rally entry to sell gold, but the algorithm prevented me from
doing so … right near the bottom it turned into “buy mode” … after the rally, near
the top it turned into “sell mode” … it’s what I was looking for hours ago, not now
… I’m not interested in a sell signal at around 1:30 PM in the New York afternoon,
this close to the close … just not enough time on a day during a week that for all
intents and purposes is a “throw away” week … granted, yesterday saw some
great action and caught a lot of traders by surprise, including me … ain’t nobody
getting surprised today … for what it’s worth, both the buy and the sell mode
signals were great … better than the original algorithm … get me out of this week,
and I won’t have problems with buying or selling in the afternoon … around a
Holiday, especially major ones [next one after New Years is Easter], and I’m very
cautious cuz conditions change from bad to worse, worse-er, and worse-er-er in
a heartbeat.
No PAMM trades today cuz there’s absolutely nothing to do except get in trouble,
and everything worth doing came after 1 PM EST in the trading day … even so,
price is where it was 10+ hours ago, so nothing has really happened … “a little
song, a little dance, a little seltzer down your pants” kind of Holiday trading day
… simply pathetic, but given the calendar, not surprising … onto tomorrow and
hopefully it’s better than what I saw today … in retrospect, the DOW30
outperformed slightly as the TR was better, gold came on late but did ZERO the
first 20 hours of the day, and crude was just lagging the entire day … nothing
positive to say about crude today … hard to imagine it being worse.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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