Subject: TAOST Daily Wrap For Wednesday 13 June 2018

TAOST Wrap
Wednesday 13 June 2018 
Quote of The Day
"Knowledge given away is, generally, worth a bit less than the price."
--The Trader
I had no internet issues this morning... More important, my sons had their NBA2K18 after they finished their reading.

On a different note...

I looked at what it would cost me to send ONE of my sons to my would be alma mater (I transferred) for 4 years this morning.  Luckily I was neither eating nor drinking at the moment.

$255,612... or thereabouts.

Now as today's quote might suggest, I'm all for paying for my (or my kid's) "learnin'."  But $255,612 is a bit rich.

What's even more crazy is that that's not an uncommon figure.  And that we'll spend more than $200k each for them to go discover that mom and dad don't know anything and they have it all figured out.

I'm annoyed 8 years early.

And likely to stay this way.


ES Daily
It was Fed Day... The Fed raised the benchmark another 25 basis points and removed some Great Recession era language about "accommodation."

Yawn.

The market dropped... then rallied... then dropped again... And kinda fell apart at day's end.  But it still didn't really break any significant levels.

2X Yawn.

This market is great for folks like me.  

So called long-term holders?  

Not so much.
ES 15 Minute Chart
Click chart for video.
Summer Of TAOST Bias
Waited out (with great difficulty) the morning session because of previous not so good experiences on Fed Day (don't ask).  

A nice Bias setup showed a few minutes before the FOMC's announcement in the afternoon.

This was the outcome...
Today's TAOST Stalk Candidate
You guys will generally not see long term Large Cap plays in the Stalk section...

However...

Beer?  Yeah, yeah, I know... not good beer, but still.

In summer?

Just above a major support zone?

Do have fun.
As always, make up your own mind and mind your risk no matter what you do.​​​​​​​

KIS,
The Trader​​​​​​​​​​​​​​

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