Good morning traders!
RE: Premarket Trading Note
There is a personal journal entry here on my not so private platform, some reflection on where we’ve come and are going;
Thank you for your patience with some of the challenges during this COVID event.
The live trading room problem we have experienced and our traders / clients have experienced we now know to be one of server capacity at Click Meeting. Because of all the online workers this has been an intermittent issue. If you continue to see the error message simply clear your cache history, reboot and re-enter the room. At times there could be a wait. We have been told they are upgrading server capacity now. An example of what the COVID event has done as an inconvenience.
The swing trading alerts and reporting – I am processing the written report still from Sunday’s webinar, it has taken a few days longer than expected. But you do have the videos from Sunday so this is good. Nevertheless, the markets are still not structurally right on the short or long side so this is / has not been an issue until possibly today.
We may get a few days of bullish activity here so you can expect some active trade. I’ll do what I can to get reporting out before market open today and any other needed will be out to you later tonight.
The written reporting part of the Sunday webinar video delay has been in large part to personal challenges I have had this week as a result of COVID.
For example, mid day Wednesday all of a sudden I was told we were locally going in to lock down. I wasn’t properly prepared so we have a flurry of activity yesterday and completed our required needs such as getting cash, water, basic supplies etc. I still am not sure exactly what stage of lock down my community is in other than only essential services are open as of today. So we’ll see, but we’re ready for the most part, hopefully my time / focus can be laser pointed to the markets going forward – I think we’re good to go.
In my public journal on my Twitter feed I said that this market will turn eventually and the opportunity is big therein. However, this could be a multi year process, nobody knows.
Bias to shorting structural resistance areas of whatever we’re trading is key until the virus has a solution, don’t forget this no matter how happy the markets appear.
All longs should be small with tight stops.
There is also a note in my journal on Twitter about the machine trade, we’re out the other side of yet another stage / shock in development and can’t imagine anything being a bigger shock to handle in future. And we’ve coded breakers anyway, so we’re good to go. Update white paper soon.
Anyway, expect trading to be more active very soon (and yes I know I’ve been saying this for a number of days) but expectation and $STUDY is key because missing the moves isn’t great. Point is, we’ve come through a difficult shock and now I see it highly probable we can see some great returns going forward as the markets move through the next stages of this event.
The big shorts we’ve had we remain in at 10% of the original size (long VIX, long OVX oil volatility, short SPY NIKE WYNN MASTERCARD and miscellaneous others). Timing was fantastic.
So we’ll be looking for rallies we can short and themes for long positions we can garner gains. Gold Silver Bitcoin Natural Gas we’re still looking for structural bottoms and hopefully we can start adding to Natty long swing and BTC long swing and get back in to the Gold and Silver trade soon.
Have to get in to $STUDY now to be sure our swing trading set ups are totally ready for the range at hand and I’ll see you in trading room. If there are intermittent outages we will be alerting either way.
And again, any of the reporting not complete by market open will be completed this evening, I have cleared my schedule. Also of note, the free view period on the swing trade alert feed will end when this new reporting is out / prior to, so if you’re previewing that alert feed it will go dark sometime today. Join us on the swing trade alerts service (click here) feed for the next cycle in the markets, we’d love to have you along for the ride!
Oh, and remember, Sunday Swing $STUDY sessions continue 7 – 11 PM each Sunday while we $STUDY to prepare all swing trade set ups. We’re 3 sessions in now and likely will do close to 10 session weeks. If you want to join us in the Swing Trade Study Webinars click here: