Where are you, Mole~?

Fujisan here.

Mole is nowhere to be found for the past 20 hours and the number of the comments have been accumulated more than 500 counts.  In the mean time, Isaiah is asking me to do a comment cleaner, so there you go.

Mole, if you are somewhere out there, please hurry back home.  We are all waiting for you~~

9:00 am EST update: I heard from Mole last night that he is doing fine taking care of his family.  He will be back soon.

Just One More Thing

No changes in any of the scenarios – things are in equilibrium right now and could swing either way – it’s not an easy spot to pick trades at this very moment. We need more time and more evidence.

Any of these scenarios are possible right now and the main reason for the bearish ones are the divergences I see between the Nasdaq, the Dow, the SPX, and the Trannies. The market however needs to show its hand and perhaps due to end of quarter tape painting has refused to do so.

I’m not going to sugar coat it for you rats – picking a direction is extremely tough right now as the count is stuck somewhere in the middle and thus accomodates both bearish and bullish scenarios. Once we see a strong move in either direction we can place our bets, but right now doing so would be tantamount to gambling and you all know how I feel about that.

In a way I am actually hoping for a spike to the upside. A drop here would be terribly unproductive and I would most likely not be eager to participate as I refuse to back up the truck inside of limbo land.

Anyway, I usually stay quiet when there’s nothing to do – and my current recommendation is to keep watching the tape and collect sufficient evidence until we are ready to make our case.

I know trading equities has not been much fun since early March – but like anything else in life – even this shall pass, that much I can promise you.

Columbo out ;-)

Divergent Monday Rub Down

Today was divergence day IMNSHO:

I told my subs this morning to be cautious as this looked like a classic bear trap – you can see how we dropped at the open but the Lite was not budging. Fortunately I was right and we got a massive swing to the upside. That was followed by a very clear divergence and we did get a few points to the downside but not as much as I had hoped for. Anything after that was pretty much a mess and I didn’t place any discretionary trades.

Program Trading Report:

Geronimo: +2.5

Two scalping trades today – one winning and one break/even – I’m counting this as 8 for 8 – wohooo!!!

In all honesty not a lot of people have been subscribing to this thing – which is a bit puzzling to me (and Eric). This thing keeps on kicking ass and taking numbers, but maybe the audience here does not fit the profile – I thought we had more heavy hitters frequent this devious little den of doom. Well, we’ll keep it running – maybe over time it can earn your love ;-)

Cheers,

Mole




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