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Bulls Better Hurry
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Bulls Better Hurry

by The MoleFebruary 18, 2009

UPDATE 3:36pm EST: Hey, where is my scheduled 3:30pm PPT rally? I feel cheated!

Seriously now, the bulls better get a move on because once this thing snaps back – and it will snap back – it won’t be a pretty sight. So – calling all mouth breathers!! Drive the tape up while you can!

I’m split right now – we have dug in but have not been able to make any upward progress. It’s opex week and two more days to go. Wednesday is usually the big day – and traditionally Thur/Fri are thin. Maybe I should just stay in bed tomorrow because I was bored out of my mind today with this chop. Sitting on a pile of cash right now and liking it – this is not definitely not where you sell and maybe where you buy. Emphasis on maybe as I have to see some buyers step in and push this party across VWAP and keep it there.

The trend however remains to the downside – no doubt about it. Both scenarios are still in play – which one – well we shall see. I really cannot make an educated guess right now – especially not during nasty opex week. On final thought – we’ve got 12 minutes to go – watch for a repeat of a last minute sell off in the futures. Could be a repeat of Friday 3:58pm again.

UPDATE Closing Bell: Here’s the sell off I was waiting for – LOL – so predictable. Not as bad as last Friday though… yet. Anyway, I’ll be in touch later with an update – good show today.

Before you guys run off: Does any of you have experience with AdSense? The first two days were amazing and suddenly the conversion rate has trickled to a crawl. The ads are mostly shit too – I even hooked in Google Analytics to get better targeting but I keep seeing those damn Spanish ads – what’s up with that? Might just pull those banners if this doesn’t improve. If anyone has pertinent experience please post some tips – I would appreciate it.

UPDATE 4:11pm EST: DAMN – did you guy SEE that?? ES just touched 776.50 there for a second. The games continue… if anyone wants still in – 3 more min to go.


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.
  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    Repost:
    VNO on a bounce now. A gap-higher on that one tomorrow could rep. a decent short entry
    (holding here as i don't want to lose it and not be able to borrow back – i would add more if it gaps a couple % or so)

  • Erikd

    XLF below 8.07 level again today. same process as yesterday…- GAP down overnight with no retracement tomorrow… staying short..
    chart http://screencast.com/t/JMCYlOVdq5
    positive close on the $SPX today will reset the previous 2 days down., which will open up the downside for alot more downside the next 2 days on the SPX..

  • Leon

    would you rather sell feb OTM puts or calls right now to take advantage of overnight theta?

  • Insect Overlord

    Gold to me seems really overextended. Doesn't mean it can't keep going up. But this is the first time I've ever seen an entire candlestick trade outside the 2 std dev band off the VWAP. Consider the other factors, and this *could* be a sweet short in the making. Only pennies away from the previous major swing high several months ago…

    http://screencast.com/t/l8wRR0Mt

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    XEC is sick; holding big position for potential follow-through on today's break (eps was this morning)

  • molecool

    My apologies to poopsquat for mentioning the Yen again – LOL :-)

  • MaxPainMan

    VIX crashing

  • MaxPainMan

    P.S. I hate gold

  • peterey

    does the fact that SPX closed positive, although marginally, change your view?

  • Carpe Porkem

    Been long GLD since 72. Dollars, not year.

  • tradingmom

    Arrgh, I hate watching them paint the tape. This is absurd. Now we're “up” on the day.

  • molecool

    I TOLD YOU GUYS – not yet!!!

  • katzo7

    I looooove gold.

    Mole, give us your take on the VIX. huge move of almost two points. But I see it as establishing a EW4 low on higher time frames and ready and set for take off.

  • molecool

    snort

  • katzo7

    Yeah, If I hear short gold one more f**king time, I am going to break in Ft. Knox and go really long physical.
    LOL

  • jacksoo

    well, its been a tough few weeks but today, despite been short ES its been great – managed to scale out of ES pretty much at the bottom this morning and then refilled with increased volume around 793ish. need to be smart over the next few days and learn from the lessons so painfully administered by Mr Mkt.

  • Fishrman

    Hi Erik,

    I have been watching your trades for a while and have been very impressed. I was wondering if you elaborate a bit on your background/how you learned to trade like this. I have found I learn a lot by hearing traders talk about this. Thanks and keep up the great work!

  • jigdaddy

    i think you mean negative.

  • T. Waffle

    Sold my JPM and SSO march PUTS with solid profit.

    Still holding SRS from $67.00 and QID $54 march CALLS Also holding VIX $55 April Calls

    So far my losing hand is HBC March $30 PUTs.

  • jacksoo

    I’m like yu re GLD – love/hate relationship – made a packet with it during early 2008 but the sod killed me earlier this mth – sat on load of calls but it stopped me out – then preceded to go on a rampage – *astard. PLEASE keep me in the loop when you think its ready.

  • http://www.tradingsign.com/ T. Waffle

    Look at /ES in AH new low.

  • BovineStew

    thanks for the tip Mole. I shorted 30 ES into the close and it is paying off nicely. :)

  • Keirsten

    Boo hoo, HPQ is in the middle of a smack down. LOL

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    Every Cramer fan's favorite HPQ just reported
    …doh!

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    yer quick

  • Keirsten

    Was waiting in the bushes for that report. πŸ˜‰ How did your day end up?

  • T. Waffle

    Mole I had Adsense but those fuckers banned my account for invalid clicks. let me know what help you need.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    too many trades perhaps, but only down 0.15% after big up yesterday and I like my position here. so no complaints

  • molecool

    There you go – I'm not completely useless.

  • molecool

    Gold (and GLD) is a bitch. But if you can mount the beast it'll be worth all the hassle.

  • Keirsten

    I did okay too, but I don't usually trade on OPEX week after Tuesday. Gains outweighed the losses, so live to trade another day. Thinking I'm doing better in AH now.

  • BovineStew

    LOL! understatement of the year. You are awesome!

  • Erikd

    no, momentum clearly on the bears side going into tomorrow..

  • molecool

    Well, look at that damn Spanish chick – why am I getting this crap? Nobody is going to click this that. I tried to manually permit domains and it was just ignoring it. I wrote them twice but only got a boilerplate response which was crap.

    All I want are fucking targeted ads that people actually want to click on.

    Secondly, although the click rate hasn't been bad in the past few days I'm making less $$ – not sure why. This whole thing is a mystery to me – and way too much work for the little money it makes.

  • Keirsten

    let me know if you want a SS of the raw data and I’ll send it along later. Looked like a large scale tug ‘o war to me.

  • molecool

    Only $$ I made today was with that early futures trade. Walked away from trading after that.

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    Mole, i'm involved with a site that does 5k unique users/day and while i don't run the ads there I know that you can control the type of ad which displays. Also, this year the income per day is down even tho traffic is not, because of the auction-system for the ad buyers and that mkt being down.

    If you want, I can hook you up w the guy here who knows more
    email michaelATwordlab.com if you can't get satisfaction

  • peterey

    thx

  • peterey

    u'r right, thx

  • molecool

    Thanks mate – I'll shoot him an email.

  • alphahorn

    gotta believe there was a fair amount of short covering going into the close

  • T. Waffle

    Hey i don't have Adsense can you still hook me up?

  • Keirsten

    Promise me you'll ban me from trading on OPEX week next month. It was nothing more than playing on the freeway during rush hour today. This is known as over-trading to you NOOBs out there, and yes… I still fall prey to that sometimes. I eeeked some good $$$ out, but would have been better off just doing research and planning for bigger moves.

  • jigdaddy

    i get the spanish chick every now and then..dont mind it πŸ˜‰ but right now all i see are adds for trading….

  • T. Waffle

    Mole what's your email addy? I use Bidvertiser and it is good. if you want I can invite you to join it. let me know your email address.

  • Cross

    Mole, how about a recommended books section with a amazon.com & amazon.ca customer referral link. I've been buying lots of books on trading and I presume other beginners who come across your site would too. Just one idea.

  • cedieke

    hi mole,
    i don't see any spanish adds,
    never have,
    only trader related adds,
    and cliquing so now and then

  • milingz

    Is JY (Japanese Yen Future) the best way to play the appreciate of the Yen if you dont trade forex?

    Thanks

  • T. Waffle

    dood buy from my site too. heheheheheeheh

    http://tradingsigns.blogspot.com/

    I need my TOS account to be at 25K.

  • jacksoo

    for sure, timing is everything

  • cedieke

    oeps there she is,

  • http://centrifugaldeforest.blogspot.com/ Centrifugal_Deforest

    I'll sign any petition going around to re-instate TW.
    His cat was obv. walking on the keyboard; explains all those inadvertent clicks…

  • T. Waffle

    hehehehehe

    Thank you! get me reinstate on adsense.

  • perspective

    i'll open myself up for the slaughter – but from what i am seeing here is a huge rally on deck tomorrow. we just went through the retest and passed imho.

  • jigdaddy

    anyone know where i can get a live ES feed, my TOS account isn't funded so its delayed 20 minutes…

  • T. Waffle

    to go set up and change that delayed to live. you don't have to wait till it's funded.

  • maya

    what are you looking at that you think we might get a huge rally tomorrow?

  • alphahorn

    well one of us wil be slaughtered, if you've put your money where your mouth is.

  • jacksoo
  • Erikd

    started out as a technician, then service manager, general manager, then was a domestic new car dealer for 6 years. traded straight stocks for 15 years, started trading options 3 years ago, completed investools PHD course. been full time trading going on 3 years. followed several blogs such as this one over the years, learning from classes,seminars, fellow traders, books, but last but not least from EXPERIENCE.. have traded different trading strategies thru the years including different oscillators, moving averages, etc… today i use only price and trendlines and support/resistance on a chart as this method provides a consistent positive cash flow..Have lost well over 6 digits the first 2 1/2 years and blowing up an account several times… i truly understand the mental battles and the hills one must climb to be successful in this business. without the hard lessons learned i would have never been able to overcome my bad habits to trade how i trade today…, such as life… i post today to spur myself and other traders to look deeper into thier thoughts and navigate the noise that the market produces eachday to produce a result that benefits both of us. Good Luck!

  • jigdaddy

    Thanks Waffle, is ES @ 779.25 then?

  • eurobear

    he is using the knife theory

  • T. Waffle

    778.50 right now.

  • TomOfTheNorth

    Do you trade futures milingz? If you don't I would recommmend you take a look towards forex ETFs to gain exposure to that market. Currency contracts @ the CME are quarterly contracts settled by delivery. Even the futures options contract @ CME convert (exercise/assign) into futures and are also subject to physical settlement by the delivery process. What this means is if you have a position in a CME currency future or an in-the-money futures option held beyond the last trading day for the contract, you are subject to the full value of the contract – not merely your p&l up to that point (Variation). Depending on your position (long or short) you will have to accept or provide the full notional amount of the contract – in this case, 12.5 million yen.

    Kampai!

  • alphahorn

    if all the steers could manage is a 1% retracement from yesterday, then tomorrow could be sick.

  • TomOfTheNorth

    Gutsy

  • simpletrade

    Thanks for sharing! I thought you guys are just gifted and can make tons of money. Now I hope I can learn from you and continue to improve myself.

  • T.B. Aurelius

    Between trading amusement…

    http://www.zanorg.com/prodperso/jeuxchiants/dou

    (Rated PG)

  • perspective

    catching the knife was in november – this is catching a softball.

    honestly – i have no reason for bravado and don't feel like going into things right now – i'm sure i will put something up later tonight.

    and yes, i always put money where my mouth is – well over six figures into fas.

    tradepostings.blogspot.com

  • http://spnakr007.blogspot.com/ Steve

    whooopa! (Any FRIENDS fans out there?) added more short @close. Thanks mole…BTW those Ad banner doesn't bother me a bit..

  • Erikd

    it took behavior modification for me to get over the hump…

  • Fishrman

    Thanks! I greatly enjoy reading your posts and appreciate your willingness to share your great trading style.

  • Fishrman

    I often have heard this term “behavior modification” used when referring how successful traders such as yourself trade. What do traders mean by this?

  • Goldmund

    Really? Mine isn't funded either, but I get no delay. Click on “Time and Sales” and look at it… You sure it's delayed?

    Virtual TRADES seem delayed, but the display isn't.

  • http://spnakr007.blogspot.com/ Steve

    mole, re JPY, you can say that again.. http://flickr.com/photos/spinnaker007/329071089

  • jigdaddy

    I realized its not after waffle mentioned the same thing…

  • mamoo

    jasksoo
    do you think a bounce is in the cards

  • Eric_in_SFL

    The feeds not delayed just the prices displayed on the top corner of TOS chats and in TOS watch lists TOS charts and prophet chars are RT streaming.

  • DrMalaka

    Mole, I ran a pretty large web site and used AdSense on my site for years, and the truth is all those things suck. You are basically getting their filler ads where a company is paying close to nothing and there are a limited number of advertisers. After a few days everyone who is going to click has clicked given that the community is a recurring one.

    If you look around the internet the advertising model really does not work. As a side bar, isn't it amazing it took this long for the rest of the advertising industries to collapse? The internet made clear that advertising really does not work that well. After seeing internet results who would ever pay The New York Times or CBS what they ask?

    I found on my site that a great way to generate revenues was to specifically find products that your customers desire. For this site I would say things like trading sites, Amazon book links, tech things related to computers maybe. We had a partnership with a guy that did mental/emotion DVDs, he actually makes one for trading. Our partnerships did better in email marketing, we would send our members emails with the ads on them, but that is not for you as you don't have email addresses. Some of these partners would pay us $30-$40 a sale. I think the brokerages pay hundreds of dollars for each new account, at least they used to. Everyone here needs tech equipment, what is your computer set up like, show us and then link to the monitors at Amazon. There tons of things like this, some are crappy ideas some might be great.

    It's a little more work than just turning on AdSense but that is life in the business world, you have to make the model work for you. This site is not one that has a tremendous amount of unique users, you get lots of page views but certainly not enough unique visitors to justify an ad model. When looking at your numbers I would say monthly unique users is more important that daily unique visitors, with every visitor counted only once for the month regardless of how many times they visit. That is the nature of most blogs. Your key is to create a model that works based on all of us here and how we are likely to spend.

    Would people be willing to pay a monthly fee to see your positions? Perhaps an email alert sent out prior to any new position you take? These are tricky based on legal issues of giving investment advice but one could argue you are not giving advice, you are just publishing your positions. A special access section to the site that includes the zero and more graphs while keeping the community and comments basically intact? What is an added value? If you only sell the Zero the problem is that the only eligible customers are those that use it pretty much religiously, that is a tough sell. If you change the community too much then users will feel that you are charging them to interact amongst themselves. Those are the limitations you must work around.

    How about we start with the PayPal donate button to cover a visit to Germany for you to see Rammstein live?

  • TomOfTheNorth

    In my case it usually means lots of tequila

  • fuzzygreysocks
  • http://maximumleverage.blogspot.com/ Max Leverage

    Mole’s got a site with several hundred (thousand?) daily visitors who are here to make money. There’s got to be a way to turn that into a nice living.

    I’ve paid for site memberships before. One good trade idea can be worth a fortune. Market researchers who know their stuff deserve money for their efforts.

    If I start trading E-minis I’ll definitely pay for those retracement levels.

    I have to agree, though, charging people to interact with each other is a non-starter.

  • katzo7

    Mole le cool,
    Did you get a chance to look at the VIX. IMO, it is setting EW4s on the higher time frames, 10, 20, day. Perhaps soon we will be rocketing up to the stars?

  • molecool

    Bring it on princess.

  • TomOfTheNorth

    Great Post! However, RE:

    “Would people be willing to pay a monthly fee to see your positions? Perhaps an email alert sent out prior to any new position you take? These are tricky based on legal issues of giving investment advice but one could argue you are not giving advice, you are just publishing your positions. “

    Would caution that there are competing jurisdictions -SEC, CFTC- and the compensation issue alters it from an instance of freedom of speech to one of commercial advice. I'm not sure how the agencies view such a thing anymore – used to be you would have to be registered series 3 if talking about futures, series 7 if talking about securities. i know it's been significantly relaxed but I would ask the agencies specifically for their approach – no need to hire a lawyer – the agencies will tell you what you need to know. Might even be in a FAQ on their websites.

  • jacksoo

    that's the big ? – expiration of Feb options this week – I can imagine them shaking the tree vigorously to get a better return. not sure at this stage – need to do my home work to get a feel – sorry i can't help further

  • T.B. Aurelius

    I believe your theory and visualize something similar…..just think it will likely come from slightly lower level…
    Checking sentiment consensus….bears are still weary committing fully, and rather skittish, no?
    I think a pop(a sizable one at that) is due soon and another choppy leg or two down, then when the world is about to end, and when the bears are jumping in with both feet……a trap should trigger…..I reckon…
    Just my 2 cents…

  • katzo7

    Look at the MACD starting to turn down. Still think we go down. Short any pop.

  • fuzzygreysocks

    Anyone else think this' gonna keep running under the 10/20 EMA for longer than is reasonable?
    http://tinyurl.com/5e9quv

  • Skates

    I hope its a Chicago style softball or this one will hurt….

  • DrMalaka

    Why would you need any of this, I thought only thieves needed these to have official SEC sanctioning?

    But yes, a little research would be needed prior to taking that path.

  • Keirsten

    Could be. I'm just looking at the summation index and so forth and it doesn't look pretty for longs at this point on the charts. That's not to say they can't run it down quickly, tag support, test the lid on the USD, trigger the orders tomorrow, crank up some volume and cash in on more margin calls. Whatever they do, I surely don't see a firm, long lasting rally on the horizon here. It seems to me psychologically they have to fully test and possibly pierce through lower support to get a party started. I imagine if they want to screw with both puts and calls they need to find middle ground by Friday one way or another. Time-wise that seems to be do-able.

  • mamoo

    can you post your thoughts please, after the home work thank you

  • Blind_Squirrel

    Mole:

    All of my ads are mkt. related.

    Maybe you've supertanga.com too many times!!!!!!!!!

  • DrMalaka

    Mole, about the Yen, be very cautious. The Japanese Bank is doing everything within it's might to weaken the Yen. The entire country is based on exports and they are getting absolutely killed because of the strong Yen. Going long is like fighting our government with the bank bailouts. Everyone is running to the US dollar again, it is the safe currency at this moment in time. Works out well for us too, we have lots of Treasuries to sell.

  • ZigZag

    SPX 3 minute chart.
    http://tinyurl.com/bnaq6x

    On Feb 11th Theta-Man promised me $750 soon. :-)
    http://tinyurl.com/acltln

  • roncofooddehydrator

    How many times do you need me to click on an ad, Mole? I will gladly click a couple times a day if it helps you out. :)

  • El Gato

    I would recommend reading Ed Seykota (one of the market wizards). He's a true master in this area.

  • Fujisan

    Agree. Ministry of Finance in Japan is planning to cut their literally zero interest rate (currently 0.35%) to technically zero (0%) pretty soon and currency market is speculating based on their prospect. Despite a major plunge in US equity market yesterday, JPY held relatively flat. USD/JPY broke it's triangle last week to the upside and USD/GBP broke its 50 SMA today. I'm long on both trades.

  • Vardoger

    no slaughter from me. I have a huge short position that I am going to take down tomorrow and I'm tempted to buy some feb calls as I think we will turn hard tomorrow, possibly closing near 800 spx. Some follow through on Friday to close the gap could be in the cards but I will be flat by then and drinking beers. Good luck perspective and hope to hear more from you going forward.

  • alphahorn

    there are increasing rumors that we may have another Lehman on our hands, seen it on other sites and even heard it on Fast Money. If news of a bank implosion hits the tape tomorrow, then the carnage has not even begus to be done in the financials. I think there will be a time to rotate to FAS and ride in the other direction but for now i'm staying very long FAZ, although I did take profit on my 1k SKF today.

  • BalaB

    Hey Fuzz,
    I remember the post you made a few weeks ago where you stated price tends to revert to the mean of a 10 and 20EMA.
    Does this methodology apply to all time frames or mostly hourly and longer?

    Also, re: your “putter”. Do you (for the most part) not bother checking the smaller time frames since its a low maintenance play….?

    Sometimes I find myself “over-checking” time frames, just trying to find an excuse to exit – I'm a puss…I know. : )

    Thank You In Advance

  • Vardoger

    I am seriously considering taking profits on my short positions tomorrow morning. Looking for a pullback to 770 or 756 to close out (wouldn't that be nice). Good chance we see 800 on the spx into the close tomorrow. After that, I am waiting for a gap fill to get short again. Could be a nasty snapback on the way that would be very painful, but a blessing to those of us ready to pounce on the market from higher levels… stay frosty

  • BalaB

    awe crap…I'm a little late but there may still be some 'meat' left

    http://www.screencast.com/users/BalaB/folders/D

  • katzo7

    I have been looking at the VIX and think it is just about to start another climb. But I want to get MOLE's opinion on this. If this happens, we get a substantial leg down in spx.

  • Susannah

    I think you all have just talked about it too much lol

  • http://www.aggressivelyuninformed.com nepharis

    Hey Mole,

    I haven't really done much with web ads myself, but if AdSense isn't working out all that well, you might want to give Project Wonderful a shot ( http://www.projectwonderful.com/ ). You choose the sizes of ads and their location on your site, and then people who want to advertise bid on placing ads there, on an hourly basis. No clicking by us rats necessary. Good luck either way. =)

    On cash here too.. Mostly sitting on my hands in terms of trading, but I've been coding away cooking up a little something of my own. It's nothing too special, but I'm looking at building a short term trend indicator, by looking for concurrent signals across multiple timescale stochastics. Cheers!

  • Fujisan

    Currency futures are very thinly traded without much volumes compared with spot. It would be the best if you can trade spot. Many option brokers also have FX plat form (like TOS) and you can trade FX off of the same accounts. You can also open up an account at FX brokers and you can start trading from 1 lot. If you open up an account at FXCM, they will fund your account with $25 as a start.

    There are not much volume in FX ETFs if you like to trade options on FX ETFs and the spread is much wider and I don't like this particular instrument.

  • molecool

    “Mole's got a site with several hundred (thousand?) daily visitors”

    FYI – in February we had 28,258 unique visitors according to my stats. Yeah, thousands would be appropriate πŸ˜‰

  • fuzzygreysocks

    Howdy BalaB,

    Mean reversion works fine until it doesn't. HA!

    Seriously, though…
    All trends break.
    Eventually.
    TA breaks.
    Fundamentals change.
    Stock movements change.
    Empires change.
    Continents drift.
    Asteroids hit.
    Suns explode.
    We live in a dynamic universe.
    Preservationists are ignorant fools.

    “The trend is a a trend until it changes” sounds like smart allecky double-talk, but it's true.
    Mean Reversion is demonstrated when a stock price bounces above and below a “center mark” or average.
    http://tinyurl.com/aolalm
    The mere act of defying the mean for even a few extra periods/days/hours/minutes necessitates an expanded data set allowing for an increased opportunity for mean reversion to fulfill.
    What was working for a 10/20 EMA may need to be reworked for a 20/40 EMA at which point movement may resume the previous 10/20 action back on a smaller scale within the greater data set.

    >> Does this methodology apply to all time frames or mostly hourly and longer? <<

    In both principle and observation it applies to all time frames. Universal entropy, and all. Seriously.

    >> Do you (for the most part) not bother checking the smaller time frames since its a low maintenance play….? <<

    I often don't have time to babysit the 'puter so I'm always leaving skadoodles of money on the table making the “conservative” plays.
    If I feel gamy enough for a little knife catching I'll toggle between an hourly and 15min MACD, always mindful of news events and fundies.

    >> Sometimes I find myself “over-checking” time frames, just trying to find an excuse to exit – I'm a puss…I know. : ) <<

    Here's the deal: There's no way for me to tell you you're pussin' out if “over checking” keeps you from getting ulcers and provoking domestic violence.
    If you're driving yourself nuts I'd say that falls under the broad brush stroke of a self inflicted injury mental health issue.
    If that's the case (and only you and those that know you can make that call) broader swing trading over days may be more appropriate than this hourly and 10min cr@p..

    Otherwise, if it's working ferr ya…
    If it ain't broke quit screwin' 'round widit!

    πŸ˜‰

  • molecool

    Nah, I wouldn't be interested in such a thing. ES is going to stay the way it is – simple and inside the legal comfort zone.

  • molecool

    Just click on what you are interested in πŸ˜‰

  • SteveInChicago (spsnomad)

    I'm seeing rally potential, but for a different reason. I'm seeing a running triangle that still needs one last Wave E up before we plummet into wave 5. Wave D should be a 3-wave pattern, and today's move makes it look like one. A move below the wave B low [741] (with a little room allowed for running stops) will invalidate the triangle.

    Also, if c of D is just slightly less than a of D, it sets up a barrier triangle.

    http://bit.ly/oTX4c

  • Cross

    Does your amazon link work for amazon.ca (I'm from Canada)?

    Twat, with the way you are reading the markets, you'll get 250K in no time.

  • T.B. Aurelius

    Did you ever get to Super Tanga??? ;-@

  • SteveInChicago (spsnomad)

    Would you recommend the Investools PHD class? Avalon mentioned the same class over at the slope, and her trades also seem to be timely, with minimal risk.

  • T.B. Aurelius

    My kind of guy!
    No frills, no indicators!
    Me3!

  • DrMalaka

    Wow, that's really putting your two cents in. Maybe a penny and a half :-)

  • aleatoric

    My friend ran a website with about 50k unique users every month and he made 4 figures in ads every month. But then again his website was littered with ads all over the place.

    Mole – I have a friend who worked in the adsense dept. at Google until recently. He is adsense certified (whatever that means) and has used it successfully for his own projects and for his friend's. I'll get in touch with him today and see if I can help you out.

  • T. Waffle

    Cross,

    I am sure it should work with Amazon.ca if not you can always chose the site after clicking on the link.

    I wish I can make 250k in no time so i can send you a 5G check as my appreciation. πŸ˜‰

  • BalaB

    Cool. Thanks Fuzzy.

    Re: Shorter time frames. I get exhausted just watching / learning
    from the short term guys / gals. Its enough trying to study which
    instruments are leading the market and why let alone trying to
    interpret every friggin tick.
    If there is one thing I know it is I'm a 'less is more' personality
    type. Slow and steady for me is much better than balls to the
    wall…… (Which is why I believe I find so much valuable information
    in your (and Moles) posts)

    Thanks again for the info. Very much appreciated.

  • Susannah

    Think we might rally on an improvement in the rate of job losses? Gallup's polls have a 70% chance of correctly predicting the direction that number will go, and they're saying it's going to be better this time, but not by much.

    http://www.gallup.com/poll/114682/Ray-Hope-Jobl

  • Blind_Squirrel

    Meredith Whitney on CNBS 3PM ET Thur.

  • T. Waffle

    nepharis,

    Are you currently using projectwonderful?

  • fuzzygreysocks

    Not yet…

  • Blind_Squirrel

    One only needs to look at breadth to see today was a classic
    pump and dump job

  • T.B. Aurelius

    Are ya tied up to a sewing machine in a sweat shop or something?

  • T.B. Aurelius

    Switched from Marlboro to Camel lights…

  • Blind_Squirrel
  • T.B. Aurelius

    Avalon just said she blew her account, no?

  • Erikd

    investools is a very formal process to learn every detail to trading the markets learning the different strategies that are available to a trader… like getting a college degree, you then have to make a living in the real world with the education, as we all know a college degree does not mean success but it can open a few doors and put you on the road.

  • Erikd

    sometimes something stronger LOL

  • Erikd

    and….

  • http://trading-to-win.com DavidDT

    Not a bear, not a bull – just trading…that being said – the bull reincarnation widely prayed for by general Joe Schmoe is actually is just 2 days away. My amateurish chart I posted few days ago by T.B.s request is holding water pretty well, no panic selling, final washout of financials (for this leg down that is, not “The Final” one).
    Friday is the day to buy equities and short /YG.
    http://trading-to-win.googlegroups.com/web/2009

  • http://www.aggressivelyuninformed.com nepharis

    Nope, like I said, I haven't really done much of anything with ads. I just think it's kind of awesome.

  • BigHouse(Aka Mr Vix)

    I really hope this senario does not play out. It would mean more drama grrrrrrr

    SPX http://screencast.com/t/FiwAt1z9x

    DOW http://screencast.com/t/5NKJ7lAw

  • Erikd

    there are times no matter how successful of a trader you are that the market will have a run on you and your trades… you have to learn to just control and trade your set-up (plan) even when the market is against you. you cannot let your emotions let you react differently then the plan you have pre layed out.. if you cannot trade the plan you laid out prior to what the market does during the day then you will have to change your behavior or you will be defeated again. MODIFY reacting to what the market does. the pilot did not land the plane in the hudson any differently then if he would have landing on a runway. what i mean his thinking process was not altered in how a plane has to land in order to survive, always know where your outs are in your attack…

  • maya

    that is what I am thinking as well by looking at the charts it would be just to easy if we dropped now everyone is expecting it

  • Blind_Squirrel

    Definitely a viable scenario to be on guard for.

    Would probably screw the most people.

  • SteveInChicago (spsnomad)

    I'd be really, really surprised if she did — most of the trades she mentioned were paired trades, designed to minimize risk, and she really seems to know what she's doing.

  • TomOfTheNorth

    maybe ponga girl if she's around

  • http://www.chartsandcoffee.com chartsandcoffee

    Pelosi and Stanford, Critical Support, Platinum (PTM), Yen (FXY), Bond Funds, Some Long Ideas – http://chartsandcoffee.blogspot.com/2009/02/cri

  • Susannah

    Couldn't point D in the first chart really be anywhere from here down to 741? We wouldn't even have to touch the lows first. I'm thinking we might get a turnaround very soon, before opex just to screw some of the people that sold calls and think they're in the clear.

  • aleatoric

    Hi all,

    Lately we've had a few lurkers come out of the closet and introduce themselves so I thought the time has come for me as well.
    I read a few books on TA late last year and started trading around December. My trades were short but disciplined and thought through. I finished my first month in green. But then in January I turned into a pig. The discipline went out of the window and I made trades solely based on rumor or whim. Sometimes I would know a bad trade when I entered it, but would do it anyways. I took a double digit percentage loss in January.
    I found this blog in late January and it has helped me in a huge way since then. I'm very thankful for all the different perspectives that are shared on ES. I can't thank Mole enough for putting in the time and the effort to bring us his analysis and keep us updated. Members also play a big role by posting thoughtful and productive comments. In Feb my trades have been based on sound analysis and reasoning again, and I've made up for my Jan losses. I would also like to thank people who post counter opinions – it takes guts to post a view that is not shared by the majority. Differing opnions have saved me from entering bad trades and I feel more comfortable entering a trade if I can reject an opposing view based on analysis.
    I will be starting first year of med school in 2009 where I'll pay lots of money to be overworked for the next decade :-p Any financial victory means a lot at this point, and thanks to all of you guys and gals that I have a few on my list now.
    Congratulations to Mole for creating something unique and special, and to all of the members for contributing and adding value to this community. I hope that there are lots of good times for ES ahead!

    As far as the ads are concerned, I spoke with a friend who used to work in the adsense dept. at Google. He said that your conversion rate has dropped b/c the ads are not relevant and the clicks or views are not generating business for the advertiser. You can log on to your adsense account and block specific websites from displaying ads on your page if you want, and you can also select specific areas of interest to targeted ads. He also had several tips on text vs image ads(e.g. relevant advertisers in your case may be financial news places/investment pundits/financial advice sites etc and thus you will benefit more from text ads), ad placement, content engineering, sponsors etc. I'm not an expert in this field but if you want I can have him email you or give you his email address and he'd be happy to help you out. It's the least I can do for ES.

    Aleatoric

  • SteveInChicago (spsnomad)

    Thanks! I've been looking for something more extensive than the weekend courses. I'd want to be at the level where I could absorb everything before I shelled out the cash for the PHD, but it's good to know that it covers the subject well. I'm not there yet, but it looks good for the future.

  • BigHouse(Aka Mr Vix)

    Yes thanks for that i should have put that in the spx..

  • Fishrman

    Thanks everyone for the humor and advice and Erik thanks for the insightful response. It is REALLY helpful!

  • Cross

    I'll be waiting for it. πŸ˜€
    *takes screenshot of your post for evidence*

  • http://spnakr007.blogspot.com/ Steve

    thanks for sharing…+1

  • de3600

    An Obama senior adviser has indicated that the administration is mulling whether the controversial Fairness Doctrine will get a new lease on life, according to a report in Broadcasting and Cable.

    The now defunct Fairness Doctrine, if revived, could be used by a liberal administration to silence Rush Limbaugh, Sean Hannity and other radio talk show hosts, as well as much of the new alternative media. The doctrine required broadcasters to report both sides of controversial issues. The Federal Communications Commission dropped it in 1987.

    Liberals will love this

  • unSane

    It will be a great loss.

    Not.

  • Blind_Squirrel
  • http://www.oxyinvestor.com oxyinvestor

    A case for building long positions in RIMM. I also think it is getting into oversold territory in another day or so.

    http://www.oxyinvestor.com/2009/02/how-to-make-

    Whether you agree or disagree, let me know. Nothing like a good discussion to vet ideas.
    reply edit reblog

  • anotherone

    More info on Stanford. Seems he might have been laundering drug money for the Gulf Cartel. And he ponied up $150,000 to be a player at the Dem convention in Denver. Hung out with Pelosi and got ol' Bill to spout off a few adulations, as well.

    http://abcnews.go.com/Blotter/story?id=6907429&

  • pristinetrader

    Looking at the charts, red candles are dominating the picture and the 20 EMA is downward sloping so unless we get a blue bar, expect more downside.
    http://www.pristinetrader.blogspot.com/

  • http://www.oxyinvestor.com oxyinvestor

    Mole: You might have a good percentage of your readers coming from Latin America, and that might be pulling in the spanish ads. Check the location of your visitors in Google Analytics.

  • perspective

    “The doctrine required broadcasters to report both sides of controversial issues”

    geeze – that would really suck for all the propaganda mongers like rush, hannity and savage.

    the absolute last thing this country needs is to hear both sides of the story. how depressing for all those living in the dark.

    what would palin do with herself?

  • Erikd

    ah yeah!

  • de3600

    Lol this was an oil tycoon he bought this when I think oil was 135

  • katzo7

    I don't like the MACD starting to turn down on day chart.

  • perspective

    maybe i'm over thinking this, but i find it preposterous to think that the treasury would roll out a bank rescue plan – short on details – with rumors of nationalization – and with no uptick rule in place. it basically allows large hedge/bears to destroy the banks cart blanche.

    the alternative strategy is to roll out a bank rescue plan – short on details – with rumors of nationalization – take the market into its critical retest – then change the uptick rule and the mark-to-market accounting rules during options expiration. that would be evil and much more apropos for the treasury/fed. you could call it their “empire strikes back” moment.

    massive bank short squeeze – banks capital ratios would improve overnight at no tax payer expense.

    i know i know it would be temporary and fleeting – but heh – that's probably the best they have at this point. the shit storm is hitting from all sides. they can at least arrange some of the ducks.

  • yazzer

    yeah – RIMM should do as da market do – if the market tanks here, RIMM would bust through both support triangles…then what?

  • TraderJoe

    Maybe I'm missing something here, but what does the market value of the banks' equity have to do with their capital ratios?

  • http://www.oxyinvestor.com oxyinvestor

    That's where the two Put tranches come in & do the trick.

    With a P/E of 13, and decent growth, how much lower can it go? Cutting a landline, cable connection is possible. But can one really get rid of their only cellphone?

  • unSane

    Hey, is that TJ from Capitalstool? Or some other TJ?

    Tier 1 capital is the price originally paid by the equity holders, not the current market value. So a short squeeze makes no difference to that.

  • Leon

    I know that this is generally considered a risky strategy, but does anyone make a plan of looking for “nickels” to pick up during OPEX weeks by selling front month OTM options that have a very low chance of finishing ITM?

    I've been “selectively” doing this for a couple months, and knock on wood, so far I haven't been assigned on anything. A few names that I am looking at doing this on tomorrow are CAT, HD, DELL, HAL, and GE. All are very liquid names and there is a strike price at $1 or $1.50 increments in these names, which makes it a decent amount easier.

    Just curious to hear peoples' thoughts on this.

  • perspective

    my bad – equity ratio makes a bit more sense.

  • fa_q

    The old 'picking up nickles in front of bulldozers' is fairly apropos here. That's a dangerous game because it takes a whole lot of being right to counter one being wrong. I know one investor that did that with puts for 3 years and got absolutely devastated and murdered on 10/19/07. It only takes once.

  • v8muscle

    maybe you could sell some GS 95 strike calls or 70 strike puts, or BAC $6 calls because financials have a huge premium.

    or some HPQ calls. that thing will tank in the AM lol

  • unSane

    what is the risk/reward?

    let's say you have a 99% chance of making a profit and a 1% chance of making a loss

    if the potential profit is $10 and the potential loss is $100, you will make money on average.

    if the potential profit is $10 and the potential loss is $1000, you will make money most of the time but the occasional losses will outweight the gains.

    if the potential profit is $10 and the potential loss is $10000, you will make money most of the time but get wiped out on the first losing trade.

    Risk management! Google it!

  • http://maximumleverage.blogspot.com/ Max Leverage

    It generates consistent returns until the market checkmates you.

    Selling options should be one of many tools in your toolbox, and you should know when to use it (or not).

  • aymonz

    don't click too many times otherwise will adversely affect molecool's compensation from google

  • Keirsten

    VΓ€lkommen! I hope you do exceedingly well and are able to finance your med school with the greatest of ease. G/L to you.

  • etechpartner

    Same here. Caught a piece of the rip from LOD but then around 786 the tape looked funny to me and I jumped. So my best trade of the day happened right in the beginning. After that ended up losing about 7pts total over the day. Since I don't roll w major ES contract quantities the points are missed indeed.

  • Leon

    ok, thanks for the advice everyone, much appreciated.

  • Smeagol

    Mole, about your CPC comment from “Yowzers!”. I think that this high put/call ratio can be explained by the fact that we're now in the latest stages of wave (5) of Primary wave {1} of Cycle wave c, meaning that soon we'll reach a bottom from where we will have a substantial upward correction. So maybe it's normal that the CPC is increasing, because it will have to reach it's max value at the end of wave 5. I understand that, based on the previous 'no deflation' records, the current CPC value would probably mean that we'll go upwards soon but then again, what we're going through now is worse than what's been recorded in the history of CPC.

    What do you think? I can go back to sleep now … it's 4:45 AM.

  • TomOfTheNorth

    The concern with some type of 'fairness doctrine' is that it might provide subjective Government oversight of content and viewpoint. Regardless of your point of view, you can now find an outlet that, in essence, caters to that point of view. In an extreme instance, a fairness doctrine could be used to silence a point of view. There may be a point of view that you would prefer silenced – if that were to go forward, just remember that perhaps your point of view will be silenced next.

  • Fujisan

    There are two options strategies that could be applied on the last week of expiration.

    1. Sell a credit spread if risk/reward ratio is 1:3. You can find many spread that you can find with 1:3 risk/reward on the options expiration week. You buy OTM options and sell ATM options. This way, you are not entirely exposed and if the trade goes against you, you have a protection with a very cheap OTM options. I wouldn't recommend to hold it until expiration, though.

    2. Sell Iron condor with 1 standard deviation. Same logic as above. Risk/reward is not as high as 1 above, but probability of success is high.

    I woulnd't really recommend that you sell naked options. Always think about risk/reward. Never take the position that has an unlimited risk.

  • Erikd

    molecool posted the YEN chart above, FXY is one of the 5 indicators that i follow to determine direction overall. FXY has issued a bullish signal as it has closed outside of the daily, weekly, monthly trendline.. a GAP upward on the open tomorrow and this is the last signal of the 5 indicators that i track that will confirm the downward direction in themarket. thats right i will be able to post 5 for 5 tomorrow that i have not been able to post since the last plunge last fall. those who have followed me will remember me posting 5 for 5. if FXY gaps up on the open one should be commited with all capital to the downside.. IMV. take a look at the last indicator to watch tomorrow.. molecool is spot on that this indicator will torch the bulls.. FXY http://screencast.com/t/hR98ZkRkb

  • simpletrade

    I have the same thought, this could happen if we're down 6-7% tomorrow, and they change the rule tomorrow night to “shock and awe” the market like they did in August 2007.
    But on the other hand, this is a risky strategy, since market can easily get out of control. So I don't think they did this on purpose, but they'll pick a “best” time to punish the shorts so they won't short for some time.
    But if the majority of the traders think getting rid of “mark to market” is bad for the market in the long run, it will actually destory the U.S. equity market for years to come. Think about this, no one will trust the U.S. banks since they are all zombie banks if mark to market was gone. Same issue with emerging market banks.
    So in short, these who start the fire, if it's under control, they're genius; if it's out of control, they'll pay aheavy price.

  • Vendrell

    Look at the September 18-19 dates. I believe it was an option expiration week. Between 1 PM EST Thursday and 9:30 AM EST Friday, we went from 1135 SPX to 1270 SPX. A trader friend I know was expressing his bearishness by selling OTM calls (he thought were safe around 1190, I believe). For this story to make sense, I don't think he had a stop loss (so serves him right on this). He couldn't get out of the short calls fast enough. By the time Thursday's carnage was over, he thought surely it was just a bear market rally. He held on. We gapped lock-limit up the next day. He lost over 85% of his account in a few hours.

    Long story short: If you do sell naked options, make SURE you have a stop-loss in. A mental stop may not be enough.

  • http://www.cafes.net poisonfrog

    Awesome. I can't wait to share my viewpoint on NPR, CSPAN, and MSNBC. But you watch, they'll make it apply only to radio, and will exempt NPR. This is Orwellian.

  • fa_q

    Wow. To me, tomorrow looks like the day we make a run at filling the gap. I held some March puts just in case I'm wrong (as they're easily hedged), but I exited SRS SKF and SDS early this afternoon. I'll be happily wrong as it's easy to get the positions back, but I'm seeing a decently green day tomorrow. My plan was to wait for the VIX to retest the 20 before adding short.

  • Peakskier

    Greetings all, first post here! Mole thanks for the great blog!

    Someone posted a link today about a couple of douch bags at GS having margin call problems today and the boys passing the hat around to help out.. My question is, do you really believe that story? Seems fishy to me IMHO. I'm seeing some really bullish divergences in several markets that makes me wonder about my short positions. Floating a story about magin problems by those ass holes would be a great angle to screw the shorts. Thoughts?

  • Roro

    Yeah I too am expecting a green day tomorrow. I noticed that a morning doji star had formed on DJUSFN..tomorrow will be interesting.

  • TomOfTheNorth

    A couple of thoughts: If a fabrication, a story like that is designed to hurt the stock; Charlie Gasparino of CNBC has been really grinding on GS for a couple of weeks – could be somebody hurt his feelings over there – he's giving this story a whole lot more play than it desreves, exagerating really; the capital injection by Buffett came with 'no sell' restrictions on GS senior management so you're not going to see distressed selling of GS by insiders regardless of what else is going on; and finally, in this environment, all sorts of folks are taking it on the chin – I'm surprised we haven't heard of Wall Street bigwigs w/money @ Madoff's yet. Anyways, a firm like Goldman by requirement treats employees accounts the same as customer accounts with respect to a margin call. They'll try to be accomodative but at the end of the day post it or get liquidated. This is a non-story overblown by a pompous buffoon who loves to hear himself talk.

  • fa_q

    The story I saw is that some partners had to borrow to meet margin calls. How that's a story I have no idea. That's like saying Brian Cashman has the flu so the Yankees are in trouble. A few partners out of 40,000 employees. And it's their personal accounts. So unless you're one of those people (or their heir), this has no impact upon your life. In addition, they simply had to meet margin calls. What % of high rolling traders (and high net worth bankers are always high rolling traders) do you s'pose have had margin calls in their lives? I would put the number north of 50 that's for sure.

    I still don't understand how that's a story other than the great american past time of schadenfreude

  • Grtded

    I'm the small fry here but posting a pick for the first time, just so I'm on record and you can all haze me afterwards.

    Buying SPY around 76.30 tomorrow morning already @ 77.03 after hours. If the bulls can't get their game together for 1st half hour i'm in. Then trailing stop @ 1.5 % starting at buy. Once we hit 81 I'll go .05% trailing stop and take some profits. I'll be looking for the shooting star tomorrow to jump out but feel it should be around 83.

    I'll start buying SDS @ 79 to ride this bear into the weekend and beyond. I'll keep playing a 5 dollar game through the whipsaw channel.

    Disclaimer – 1st time posting a pick – the good ship lollipop may be full of too much candy so don't jump aboard just yet.

    Erikd might be the man to follow. I would love to see both of us right in this case.

    Kudos to you and Mole.

    I'm on OX and my charts are not saving. I'll try tomorrow.

  • alphahorn

    I'm short RIMM thinking it has one more point in it, but with the options repricing issue maybe more.

  • Keirsten

    Going to post this so we're all aware that this stupid story might get pumped tomorrow. Note though that this is a “study” only. But we all know how the game is played

    http://tinyurl.com/create.php

    My opinion on the GS garbage is A. someone wants to cover their shorts much lower or B. someone wants to buy lower. It's one of the two and we don't get to know which one it is.

    Erik- thanks for posting your chart on FXY. I'm a follower of the yen chart as a signal myself. πŸ˜‰
    Grtded- no one will haze you for putting out your ideas on here. We're all trying to scope it out and plan for anything and everything. G/L to you tomorrow.

  • Flatlander

    Err? Da link don't work.

  • Keirsten

    (sneaking quietly over to say thanks for the SRV YouTube earlier… makes for great trading music.)

  • rhae

    Last week I mentioned that it was unusal for the S&P 500 ,10 day breadth chart to stop at 50% and not reach oversold near 5%….. and so now it has come to pass, 95% of the stocks in the data base that I watch are oversold..

    Like James Bond, when you enter a room start looking for an exit… Maybe, it is nearing time to say good-bye to SDS.
    It will tell me when, I just want out before it blows up…..

  • Keirsten

    Ah sheet. Okay, try the long version and let me know if this works, okay?

    http://www.google.com/hostednews/ap/article/ALe

  • alphahorn

    the link seems dead. Also there is a rumor that BAC implodes Lehman style tomorrow.

  • rhae

    Agree, Just a great big hunting party…. We all take our own shots….

  • Keirsten
  • alphahorn

    anyone notice how there are all these new names on this board tonight and they're all bulls, hmmm……………………

  • TomOfTheNorth

    I know S&P meant well but that Miles Davis, wow……..S&P is clearly over-medicated hehehehehe

  • Flatlander

    That link works. Just the thought of someone studying the “mark-to-market” may cause a little bump in the XLF. But long term, it won't matter a bit until “official” changes are guaranteed. Let her jump and then buy more FAZ.

  • alphahorn

    my opinion on the GS story is it's not really a story at all. Charlie G. is paid to do one thing cover IBs. He found out that some partners had margin calls, no big deal. When I worked on the street the guy that ran my group was the subject of a WSJ editorial on how bad bonuses were at First Boston that year, where my guy had to borrow money from relatives and friends to survive. Shit happens on wall street regardless of how much money people make, they spend more. it's no big deal and i'm certain it's true

  • Keirsten

    Funny you mention that- I was working on a shopping list this evening in case they try to force a short squeeze and I was actually amazed at how many popular stocks still have a long way to fall from here on the daily charts if I were to match their current levels to the Nov. lows, in relation to where we are on the SPY and Qs. There are some beaten down dogs of course, but really nothing to write home about, and not those bargain basement prices we saw on that crash. Might have something to do with the current weighting and the decimation of the financials, I just don't know.

  • Keirsten

    It seemed like a yawner to me too.

  • Flatlander

    And I'm trying to figure what they are bullish about. The Prez has hit us with all the big news and no run up. What's the catalyst for any rally (not saying this crazy market needs one).

    Still holding my FAZ and SDS, but another flat day or two and it may be time to trim (not eliminate) my shorts.

  • Keirsten

    There ya go. Just want all of us to be nimble and prepped for the potential games and protect our booty.

  • alphahorn

    it's do or stop limit tomorrow, there's a good chance i will be out of most of my bear etfs and shorts tomorrow win or lose, tomorrow will be big one way or another; my bet it's down giant

  • molecool

    Okay, who left the gate open?

  • alphahorn

    i'll get the cattle prod, you get the whip

  • de3600

    Everytime the market drops they ride the BIG BOUNCE theme.Tell me what law is there that the big one is even gonna come?

  • de3600

    lol

  • alphahorn

    it's closing in on midnight, which means i'll be back in about 6 hrs. goodnight all, you too miss ponga, don't ever change and give me a call won't ya.

  • jacksoo

    Here's my view on the SPX (15min 5 day) – tri pattern within descending channel – tri size = 20pts – if it breaks tgt ~765 – possible resis at 794 (Fib level)
    http://www.screencast.com/users/jacksoo/folders

    Here's the ES on similar time scale – interesting to see what happens over the next hour – looks like a repeating pattern
    http://www.screencast.com/users/jacksoo/folders

    VIX – bullish flag formation, successful retest and bounce off trend line – ready to go higher?
    http://www.screencast.com/users/jacksoo/folders

  • molecool

    My thoughts in my latest post – check it out. My sentiment is that it's unusual to see such bearish extremes a few days only after such bullish extremes.

  • molecool

    Don't… ever… mention… that … date …. AGAIN.

  • molecool

    NEW POST! Sorry, jacksoo…

  • molecool

    new post πŸ˜›

  • Keirsten

    Night Y'all. BTW- news also reporting XOM has an oil leak off the coast of CA. Not sure of the impact, but…..

  • slartybardfast

    I love it when you talk like that Erik πŸ˜‰

  • katzo7

    Good to see you here. I know your work from some where else.

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