E-Mini Swing Trading
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Archive for August, 2009
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August 31, 2009

Equilibrium

What we have been experiencing in the past week is a raging battle between the same hardcore bulls who’s been driving this thing higher for the past few months and a newly (re-)emerged pack of bears with seemingly deep pockets. I also see distinct indications of institutional profit taking. Could it be that the big bears are slowly coming out of their seasonal hibernation?

With the finale of the month of August we are happy to announce that bull hunting season is now officially in session. Thus Evil Speculator recommends that you start picking your victims and also encourages you to blatantly ignore general regulations for rifle, gun, bow, and crossbow hunting as well as [...]

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August 31, 2009

Manic Monday Rub Down

It’s good to be back, especially on a sell off day when any meaningful counter rally attempt was met with aggressive selling.

What was interesting today was the lack in participation – we got that early morning gap and then pretty much nothing for the remainder of the session. I was watching several overlapping entry signals on the geronimo side – which was indicative of various attempts to bang the tape higher but it seemed the bulltarts didn’t have the mojo necessary to close the gap – for now.

As a general observation – the spikes up appear to be met with large sell block orders – someone apparently keeps unwinding [...]

 
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August 31, 2009

Slowly Catching Up

1:36pm EDT: I’m slowly starting to catch up with my reading and my charts – trying to get back into the groove. Meanwhile equities seem to be in the process of picking a direction at this point:

We are basically in the middle of nowhere right now. The channel I drew is more or less hypothetical – not a lot of touch points. Participation on the Zero Lite is basically non-existent. This is the kind of tape that is either getting ready for a sell off – or the boys are slowly building positions for yet another rally up. Really tough to say right now and we are not anywhere close to picking a direction. Which is fine – as I keep drilling into [...]

 
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August 31, 2009

Back With A Vengeance

I just unpacked and aired out the evil lair – it’s late and I only have a few minutes before I turn into a radioactive pumpkin. So, here’s the updated wave count – nothing really has changed since Thursday morning – all three scenarios are still in play.

I had a great weekend but here’s a funny story related to the tape – on Friday morning I woke up right at the open, turned on my lappy and saw the early morning spike. Thought to myself: ‘whatever, I’m sticking to the plan and keep buying’ – and so I loaded up on even more long term puts. Then I fell back into bed and woke up two hours later to some nice [...]

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