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Another Doji Day

Another Doji Day

by The MoleAugust 28, 2009

Fujisan here.

I slept in with too much margaritas and buffalo wings last night… and it looks like I missed a great short opportunity.

After all, today is going to be another doji day.  I would have to say that the market has been very precisely closing right around 1030 level for the past 5 days, and I’m expecting the same type of price action for another week before it finally rolls over, as I discussed in my posting yesterday.

In the mean time, the market gives us an opportunity to make money in both directions with a wide daily range, so let’s make some money!  We are getting very close to the top!

Here is a chart that I posted back in July and it looks like this pattern is working out quite well, so here is my updated three drives pattern.

Good luck to you all!

11:40am EDT: Mole here – I actually woke up early down here in San Diego and added more puts right at the top. Then I went back to bed for and just woke up to nice green shoots in my account – perfect :-)

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.