Sell Off Session Wrap Up

If you weren’t faked out by today’s early morning stab higher then I hope you enjoyed the ride into the abyss today. This one is textbook so let’s relive it Zero style!

After 20 handles I took a few positions off the table but am holding some lottery tickets for a final stab lower. I have not seen real capitulation just yet, this has been a bit too orderly for my taste.

The future is now – so don’t bring a knife to a raygun fight. If you are interested in becoming a Zero subscriber then don’t waste time and sign up here. A Zero subscription comes with full access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

This entry was posted on Thursday, November 8th, 2012 at 6:33 pm. Both comments and pings are currently closed.



  • AMCabrera

    This song makes me want to short xau/usd. 

  • ronebadger

    It seems we should be watching for a positive divergence on the 1hr panels AND the 5min

  • AMCabrera

    shorting silver instead.

  • http://dartht.blogspot.com/ Darth_Gerb

    if you were gambling with call options this week, my condolences.
    maybe you can see why I absolutely hate this chart.  
    but it works fairly well for me in limiting my speculations to the wrong side of the tape.
    for any newB lurkers, this chart is based on PnF data, which Mole has been wisely aware of these past years.
    -Gerb

    http://stockcharts.com/h-sc/ui?s=$BPSPX&p=D&yr=0&mn=4&dy=0&id=p88832998733

  • badflightrisk

    Also making lower highs since 2011 with a rising market

  • AMCabrera

    1.0400 I assume is pretty important since it is pancaking that number

  • badflightrisk

    Miners have been in a well defined down channel making it a nice play.  Looking for 45 on GDX and 11 on NUGT if it stays in the channel.

  • newbfxtrader

    Yesterday good strong employment report and didn’t go up. So I figured I would short it. Then today on the selloff doesn’t want to break 1.0400. I am going to try some longs and flip if support fails.

  • BobbyLow

    “. . .but it works fairly well for me in limiting my speculations to the wrong side of the tape. . ,”

    It’s great that this has worked well for you.    

    As much as I believe in technical analysis, I also believe that a major portion of art comes into play in this business.   This art becomes individualized and is joined with a type of T/A that can be broken down into probabilities to be put into play for practical usage.   

    I no longer get excited about a VIX Buy/Sell Signal, Presidential Cycles, Seasonality, or anything else of this nature.   If a combo of my T/A and my Art happen to agree with any of the above then it might add a degree of confidence to any given trade.  But this extra degree of confidence can also be dangerous because it can help create complacency while Mr. Market is being diligent in its quest to cut my balls off. 

    I don’t mean to sound like a know it all here – Quite the Contrary.  As a matter of fact, I’ve been burned so many ways over the years that the only thing I trust about this market is it’s ability to fuck over the most amount of people most of the time.   However, call me crazy but I’ve never felt more confident in what I’m doing.   :)

     

     

  • ds2

    Could you please update the DZ?

  • AMCabrera

     it seems eur/aud and aud/usd nicely breaking. 

  • Tronacate

    GC above the 25 day sma…….

  • AMCabrera

    pulling xag/usd short out and aud/usd out leaving the eur/aud in and going short usd/chf.

  • http://evilspeculator.com molecool

    Done!

  • http://evilspeculator.com molecool

    ????????????????????????????????­??????????????

    D   A   I    L   Y      Z   E   R   O     H   A   S      B   E    E   N      U   P   D   A   T   E   D

    ????????????????????????????????­???????????????

  • http://dartht.blogspot.com/ Darth_Gerb
  • AMCabrera

    its been a long time.

  • http://dartht.blogspot.com/ Darth_Gerb
  • http://dartht.blogspot.com/ Darth_Gerb

    I posted this a few days ago.
    wow, fantasy becomes reality.
    http://s18.postimage.org/thny62muf/fantasy.png

  • AMCabrera

    (kissing usd/chf over) come here at .9500 I have a little surprise there too.

  • Skynard

    Falling knife, volume on the spoos and trying a long.

  • http://dartht.blogspot.com/ Darth_Gerb

    going to play the pre-news wiggle eh?
    http://finviz.com/calendar.ashx

  • AMCabrera

    yup sounds pretty good. waiting for that 30 40 pip drop in the eur/usd and buying. i will do that instead of taking on another short in the usd/chf.

  • http://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨ 
    ¨°º¤ø„¸  N E W  „ø¤º°¨ 
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • http://evilspeculator.com molecool

    Don’t be fucking stupid.

  • AMCabrera

    mmm as long as it is not anything fundamental for taking a long. Going short now would be stupid.

  • http://dartht.blogspot.com/ Darth_Gerb

    (wow, no mincing of words there)

  • Skynard

    Totally agree, long is the play. The stupid part is not catching the move down:) Dare someone to short this bitch now!

  • Skynard

    Why is that fucking stupid? Usually pick up 10+ pts on these volume retraces. Agree, it is not for the weak players. This bitch could rally 300 pts. today. Have seen it so many times. If it does not work I’ll be stopped out.





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