Covering Hard -- Yet Again

Geez, no mercy.  But at least they could not gap up the open again!

Trade of the day was to buy the 1st hour balance with tick so above zero  -- just like before.

And just ride the wave.

This market should come into balance tomorrow on a pre-holiday session.

Or will they just gun it again?

I think balance or pullback for tomorrow despite range highs being spitting distance away!

Wheat, corn and rice continue their assault to reach worthless. Watching.

Now onto today's action:

Covering Hard

Ha Scott-Trader, you think that you're cool now, right?  Leaning the right way is always on the fun side.

Yet another gap up but this time there was no balance, just a upwards grind trend day session.

Obviously, the trade of the day was to stay long the whole day, but that's not easy to do.  Buying the morning base and holding it all day does not happen very much of the time!

This market is showing all signs of being out of balance -- for now.  Would expect some basing action tomorrow.  That or it just says out of balance and powers higher yet.

Range highs are a reference in the headlights now.  That was quick.

Going to start putting up charts of the day beginning with some futures charts.  I'm sick of messing with stocks.  Once futures get moving, they don't stop.  And that makes my job a lot easier.

Sugar -- Not the blast off from oversold levels

Copper -- Copper is going to pull a sugar at some point -- probably soon.

Coffee -- I can't believe how oversold coffee is here just off all time lows.  Huge volume here, this could be a massive bottom event.

Now to today's action:

Watch Out For More Upside

Always nice to get right back in the saddle with some excellent analysis!

Nice gap up this morning and the follow through higher after a long base.

From here, do buyers get swatted?

Or does the pattern hold that another grind up starts?

Probably the latter is our call.

And my personal opinion is that Britain going there own way is actually a good thing.  When the liberal media starts claiming the end of the world for them, I just know all will be fine.

Trade of the day was to go with the afternoon breakout from the balance.

Another Down Day

Wondering about short in the hole here, folks.

But will respect further declining action.

The intra-day action is amazing, and please keep it up market as I love to engage you with volatility up so much.

Britian Madness

Hard to believe that it's been over 6 months since a post.  That's what construction and moving can do to a person!

Actually, the experience has been great doing other stuff full time.  It's really helped my trading results, that's for sure.  A big irony that not trading for a living can allow one to actually trade for a living!  

Let's dig in...

Bottom line is that my bias is for this market to go short in the hole and that this news selling get's bought.  The overnight loves bounced at the 2000 level and that's just too cute for my taste.