(Sim - past my deadline) A) Stop-limit (2 t.o.) at .46 to go short; target 72.80-ish; 20 tick stop, will trail. B) Long at .65; Target 74.20 (+/- 10 ticks); sl 10 ticks. Will add @ .75 & .85 and trail stop. Edit :59 B-stop at be, TICK bending downwards, if stopped out and TICK/ES recover will retry. Edit :04 B-Added at .76; be at .71; damn! stopped out
Why do you even ask? You already know what I think. Well, in my mind, one usually leads the other and what you get in the end are higher prices. I'm not so much concerned about rising prices in energies or precious metals like Gold (the ultimate inflation hedge). But I am about rising food prices, which I believe is a better barometer of inflation. Also, food scarcity tends to bring out the ugly side of human beings.
One thing for sure is this damn thing definitely broke below the TL and is under water. I say let it drown.
As you can see, we clearly pierced the trendline at 75-ish. The next magnet should be around the neckline at 68-ish, at which time I will surely receive death threats from some of you geezers. Anyway, good trading to ya going forward.
SK pointed out the monthly earlier which appears to be the last stand. We did pierce the monthly TL on Friday but closed right on it. Not sure how you people feel about the significance closing prices but I guess the schmucks you see on tv would say if we close below this in the next couple of days look out below :eek:
No matter which way I load the data into a chart we have not pierced the monthly tl yet. As in use a @ with tradestation or use a rolling front month. So to me I am still playing long for a swing. Looking for the month to close out around 7850-7950