EOD Wrap Coming

I have that once a month PITA called, "The Board Meeting" as I so generously volunteered to take on Secretary and Treasurer. In any case, tonight is not going to be a fun one, but I should be back somewhere around 8:30-ish at which time I'll put out the daily wrap as well as any futures action taking place.

Initial charts suggest nothing much has changed today with regard to this same pattern that appears every afternoon in 3C and then every morning in price. Also the expectations haven't changed for trends, except the pullback that I was expecting I believe has already taken place as I showed earlier today.

Bounces at this point in the market take on much less meaning than they might have 2 or 3 months ago, the analogy I used about scrambling for nickels and dimes in front of a steam roller is much more appropriate now to describe the risk:reward outlook of playing bounces.

If it were the weekend I might just take the numerous hours it would take to show you just how many posts were published regarding "Strange" behavior in AAPL that was so out of the norm, I was sure something was going on, I just didn't know what and that's part of the faith I have in 3C, so many times I've seen something going on like we have seen the last few months in TLT and even though it makes no sense at the time, it usually reveals itself at some point, but if you wait for that certainty you miss your chance to make money. The bottom line is we get paid to take risks, it's just whether the risk makes sense and whether we have enough evidence to suggest the highest probability outcome.

See you soon!