daytrade diaries... december 9, page-2

Been taking my own advice and only trading dead certainties and staying out if I cant really see the direction, not sure whether that was a smart idea either though.

Anyway dragged my old bear suit out of the closet on the weekend. It itches, smells ppphhheww!, and just doesn't fit me real well. But heh I won't be in it too long I hope.

USD Up
Gold Down.
US Basic Materials Down
US Financials Down.

Mindset for the day as of 8:00 am

Long: Nope
Short: Yep
Bounce: Doubt it but watch for bargain hunters blowing your stops.
Fade: Nope
Sit Out: Nope
Scalp: Waste of brokerage today.


As before LME Warehouse Stocks continuing their relentless climb to the ceiling, but this time a rising USD is pushing prices down as well. Aluminum looks interesting. Is this a warehouse top? or just a pause...

The XJO lower bollinger (daily) is at 4626 so we may find support there. The SAR is at 4579 and the Weekly mid bollinger is at 4592. If it bounces off the latter in the days ahead I will pull the Bull costume out of the laundy. if the former goes with any conviction we will end up in the lower part of the weekly bollinger bands. That will mean I get to sit here in my bear costume into earnings season.

USD Spot Price




5 Year Warehouse Levels