Monday Higher
The Night Owl Trader | Oct 20, 2014 01:04AM ET
Actionable ideas for the busy trader delivered daily right up front
- Monday higher, low confidence..
- ES pivot 1874.58. Holding above is bullish.
- Rest of week bias uncertain technically.
- Monthly outlook: bias lower.
- ES Fantasy Trader standing aside.
Recap
Friday was a wild ride on the Street as we finally got the payoff I'd been expecting after two days of major reversal hammers. Let's quickly move on to Monday because the Night Owl's computer is very sick with some bad RAM and it's crashing at unpredictable intervals (this would happen on a weekend). So I have to type quick until I can get some new memory for the old beast on Monday.
The technicals
Canceled due to HW issues.
I hope the machine stays up long enough for me to say that I'm calling Monday higher. Hopefully tomorrow we'll have some new RAM in here and be back to normal.
ES Fantasy Trader
Portfolio stats: the account remains at $121,625 after nine trades in 2014, starting with $100,000. We are now 7 for 9 total, 5 for 5 long, 2 for 3 short, and one push. Tonight we stand aside - I am by policy boycotting the market until the VIX goes back below 20.
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