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Bumpy Ride!
108

Bumpy Ride!

by The MoleApril 22, 2009

UPDATE 3:07pm EDT: Boy, its been one bumpy ride today:

I think I’ve seen this a map of this ride before out at Six Flags Magic Mountain – they call it the Terminator πŸ™‚

Seriously now – I don’t see much reason of why this channel would be broken right now and as I said earlier – good chance that we’ll touch the 865 range before Golden Boys are done driving this thing higher.

The pattern would look best if we rode all the way up to that point in my not so humble opinion. Of course if we bust through that I would have to cash out and thank my Pegan Lord that I played it small (since trading against the trend can be painful quickly). But judging from the comments many of you guys are having a lot of fun playing this – good to know.

UPDATE 3:47pm EDT: Teeeheeeee – looks like I spoke too soon (as some intrepid rat minion pointed out). Boy, I can’t believe my puts are actually in the plus now – of course it helps that I was adding to my positions toward the top. Mmmmwwwwuhaahaaaaaahaaaaa!!!

Well, let’s not count our chicken before they’re hatched. That was a nice pump & dump scheme the Golden Boys had going today but it doesn’t mean they’re done yet. I would like us see drop through 845, which is where the diagonal intersects right now.


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.

  • BigHouse(Aka Mr Vix)

    Yea real fun today. I'm getting chased by a group of woman from Coach lol

  • mrclam

    they've been chasing me all day starting yesterday, i thought i had them this morning, and then they turned it around on me.

  • C's & 3's

    Tell your friends and family to get the fuck out of this market now!

  • anthem

    Wow, I love 5m candles that are 20 ticks long going both directions. . . . NOT. . .

  • isaiah64v4

    But my family is the “Midget family”… we are all short!

    πŸ˜‰

  • anthem

    Can you say DIVERGENCE. Just that no one can figure out which way its diverging. . .. .

  • Count_de_Monee

    Index put/call ratio below 100.

  • BalaB

    I'm aware some of the more senior traders poo poo the Zero but I've found very useful and well worth the price of admission. Excellent tool the help a developing trader.

  • roncofooddehydrator

    Today looks like it will be one of those days all the movement happened in the morning and nothing since.

  • de3600

    mole i sent over my cash for your zero im done with the personal stuff i have been doing

  • http://www.aggressivelyuninformed.com nepharis

    Still short, Waffle? Watching the 5min chart… that candle to 1362 almost made me shit myself. I was expecting some monkey business, so didn't put a stop in and rode it out. Phew! Working our way down to the VWAP now. =D

  • Count_de_Monee

    You mean vertically challenged.

  • annamall

    I know I am tired! πŸ˜‰

  • Count_de_Monee

    Katzo, where are you my man?

    We miss you. Please come back. I promise to let you stay at the castle (just no sleeping with the Countess).

  • newbear

    I wouldn't call myself a newbie trader and I wouldn't poo poo the Zero, hey if it helps anyone make money such as myself and sometimes I take 6 figure positions so I definitely can't poo poo the zero.

  • BigHouse(Aka Mr Vix)

    XLF turing red here folks…

  • LostIllini

    Memo to self: When feeling smug and confident about a trade….. You are going to take one up the cooter. When you want to puke your guts up….. Double down cuz things are probably going to go your way.

  • Keirsten

    I call it $VOMINIX. Works like a charm every time. πŸ˜‰

  • itsgold

    still holding my shorts, i have to admit though – these swings made me turn off my computer and walk away from it.

  • Squidman

    hahahahahahahahahahaaha

  • TAZ67

    SEC uptick rule comment submit page. Post your own recommendation & read others – for what good it will do.

    http://www.sec.gov/news/press/2009/2009-76.htm

  • molecool

    Took you long enough – on the Jeffrey A. Moore adoption curve you are the right side of the bell curve I take it.

  • innatedc

    And life is now beautiful again…….

  • Squidman

    Not even just a quickie in the conservatory!

  • salvadorveiga

    and there she goess…..

  • molecool

    You mean a 'normal 2009 day'?

  • molecool

    WHO's dissing the Zero? Maybe some dumb Swiss riff-raff?

  • BalaB

    Caveat: I don't use it for what it was designed for (a trading system) but as rather an berometer.

    Oddly enough, that's where I've found the most benefit.

  • Keirsten

    Big- I think they were using MA to buy all those Coach purses today, that thing just didn't want to die for me either.

  • BigHouse(Aka Mr Vix)

    Yea you should of walked over to the Coach store and did some shopping πŸ™‚

  • molecool

    Who's up for a politically incorrect midget tossing contest?

  • newbear

    Show the Zero some love.

  • molecool

    Hehehee – now you know how I operate πŸ˜‰

    Suits me fine – my puts are looking a lot better now.

  • lester

    I swore I would not trade or post again so I won't. Stopped out for a big loss and now my effing Put trade would be bright golden green. BTW Rod Blagojevich is a friend of mine.

  • BigHouse(Aka Mr Vix)

    I know..Volume was not that strong today compared to the other day.

  • grednfer

    The G(RIFIN) fell out of triangle 1……now it needs to close below 570……..

  • BalaB

    Nobody's talking to you….get back in your cage…..

    j/k
    : )

  • BigHouse(Aka Mr Vix)

    Your going to get your wish…

  • http://tradingsigns.blogspot.com/ T. Waffle

    Come on bears push….

  • LostIllini

    Wow somebody made a killing today….. if that's you will you take me to Smokey Bones? cuz even with the late afternoon tank job I made like 0% today but on the plus side I didn't stop out.

  • molecool

    Lester the Molester – listen mate – you're doing this all wrong. I keep watching you chase the market up and down and you get burned each way. Why are you doing this to yourself, despite all the first rate advice you're getting? You sell the rips and you buy the dips – it's not brain surgery mate. Trend trading does work but only on a very long term basis – so, you can't go and buy the market after the SPX already rallied 20 points. Get it? Got it! Good!

  • pricey

    Me likee big red candle

  • itsgold

    anyone know what's up with the Zero lite?

  • newbear

    WTF is that with zero lite?

  • BigHouse(Aka Mr Vix)

    Its raining red. weeeeeeeeeeeeeeeeeee.So is GS

  • itsgold

    good grief we're selling hard.

  • anthem

    Hey, can someone call the exchanges and ask for an extra hour for trading. I need more time. . . I want more time. . . . damn. . . .

  • BigHouse(Aka Mr Vix)

    “I would like us see drop through 845, which is where the diagonal intersects right now”.

    YOU GOT IT…..CAKE PLEASE

  • MikeT

    I hear ya. I saw that spike to the moon! Quickly rectified on next refresh.

  • rhae

    SPY 10m pitchfork with some labels added… it is a little stale, looks like we are getting the ooops now… I will watch the 60m support line

    http://screencast.com/t/jnlqW8wpcmN

  • ZigZag

    IWM forking denied..

    http://tinyurl.com/dagfnm

  • http://www.aggressivelyuninformed.com nepharis

    I really need to chill the F* out. Shorted from 1354 and watched it go to my target @ 1346. As it was bouncing around I freak out and sell at 1347.5, and it just keeps dropping. Got back in at 1341 (down to 1334 as I type), so only lost 5 handles, but damn…

    How do you exit? Do you go with trailing stops, or update stops as you reach targets?

    Oh hey, we're down to 1331 now… on HUGE volume! Ding!

  • itsgold

    Today, we closed up .07%. Ohhh yea!

  • http://tradingsigns.blogspot.com/ T. Waffle

    Covered /NQM9 @1331.75

    Ass raped this market. Eeeehaaaaaa

  • Count_de_Monee

    Maybe if you bring your wife and she's hot πŸ˜‰

    The Countess is quite a stunner, if I may say so myself.

  • rhae

    Going to get Crapple on the Apple?

  • Douala

    This is way off topic….. but may be helpful in keeping you healthy so you can spent your profits.

    Cleaning up a broken CFL bulb.

    http://www.huffingtonpost.com/lisa-sharkey/merc

  • Keirsten

    Nice Bearish close. ^5 Rats!

  • thunda72

    Kiersten… you got your wish, big time! We closed WAY below that 'line in the sand' you mentioned in the previous post. I did close out 50% of my FAS puts, and will hold for tomorrow's action. πŸ™‚

  • chumprop

    Nice!

  • Paleface

    I've planned to write a long essay after the close, but I can summarize it:

    It's not a market, it's a joke.

    Disclaimers:
    I'm a noob.
    I made profit today.

    Btw:
    It's a great blog and a great community.

  • roncofooddehydrator

    Stopped out of FAS at 7.20. Should have taken profits when we were at 860 on the SPX. Well, good thing I only had a small position.

  • Keirsten

    Sometimes those daily horizontals are very telling. EOD is all that counts, and where we close on that candle. Congrats on your FAS Thunda! πŸ™‚

  • molecool

    OILY WEDNESDAY RUB DOWN!

  • molecool

    That's gay but good for you!

  • molecool

    So true πŸ™‚

  • anthem

    This was a good day. Didn't catch the first divergence but definitely caught the second. It was such a good run down that I ended up buying some positions in AMZN which I had sold earlier back. The only bad thing during the whole thing was that IBM refused to slip during the entire run down. WTF???

    That and I don't understand COH though I don't have a position in it.

    Hope everyone had a good day and it was a great day for Zero. Get it before mole raises the prices which he's threatening to do (maybe only half kidding).

  • TomOfTheNorth

    weakness continuing AH

    Q's, DIA, SPY all down

  • molecool

    YEP – which is why I bought puts today as the market was assraping me – but I won in the end πŸ™‚

  • Trader Jose

    Well I'll be forked! It forking worked forkfectly! Forkrazing!

  • funkypenguin

    Lester,

    Might I make a suggestion. Open a paper trading account and then do everything you can to lose, yes lose all the money in the account.

    I think you will learn a lot by doing this and find it a lot harder than you might think it is. I know I did this and it made me a lot better trader.

    Secondly you seem to be trading on emotion – worst possible thing. Trade a system or use a system like Mole's for awhile for your actual cash. Try out your trading in a paper trading account – that way you can learn and not be damaged financially.

  • http://www.aggressivelyuninformed.com nepharis

    You are taking this market to the slaughterhouse, congrats mate. Looks like you dumped early, though. =P

    Covering here @ 1323. Makes up for jumping ship earlier and having to get back in… LOL

  • http://tradingsigns.blogspot.com/ T. Waffle

    I thought we call ms. market don't we?

  • http://www.aggressivelyuninformed.com nepharis

    Now now, Mole. It's only gay if you're taking it. Not that there's anything wrong with that.

  • http://tradingsigns.blogspot.com/ T. Waffle

    No worries i could have scored another 10 points but that's normal. scoring 28 points in on hand now we don't get that everyday. Cheers!! We'll take it to slaughterhouse soon.

    AAPL earnings I hate pop and drop or drop and pop so I am happy to be on sideline.

  • Trader Jose

    Sorry about that … I mean Blagojevich being a friend.

  • annamall

    Wow check out QCOM AH!!

  • annamall

    Me first!

  • Count_de_Monee

    I love it. We have a great day in the market and already we're getting raunchy.

    I hear anal is the new missionary πŸ˜‰

  • Count_de_Monee

    It just gets better and better.

    One of these days I'll have you people over for a eyes wide shut party at the castle.

    Don't pretend you don't like debauchery, ha ha ha.

  • chumprop

    I usually setup a “one cancels other” order with a stop and a price target for the upper limit.

    Other strategies are to manually adjust your stop up/down throughout the day. I usually don't like trailing stops until you're ready to take profits because you'll most likely get whipsawed.

  • geckoman

    Really enjoyed your hard work today Mole. Lot's of updates and guidance in a volatile market.

  • grednfer

    How do you know?
    I've never been very good with predictions.
    The edges are my favorite.

    WOW….everything is just draining.

  • lester

    Is this easy to do in TOS paper trade mode. I have loaded on my PC but have not used

  • lester

    Just kidding about Blago, I live in Ill but do not know him. I just talk like him

  • http://www.aggressivelyuninformed.com nepharis

    Exactly. I was definitely not holding past 4:15EST. Had a 5pt trailing
    stop in on the ride down, but canceled and dumped at market around 4:10…
    17 handles for me.. just what I needed.
    Cheers!

  • http://tradingsigns.blogspot.com/ T. Waffle

    Total of 32 handles for me. W00t w00t.

  • annamall

    Would love that! Good job today!

  • annamall

    Off to gym to work off that huge filet I ate for lunch! πŸ™‚

  • funkypenguin

    Sorry don't use TOS (although thinking of opening an account there), I use IB and Schwab (which I should get out of)

    IB sets up a seperate account that you paper trade – have to imagine TOS does something similar.

    Good luck!!

  • 3under

    TWaffle, do you trade the change in direction both ways on the zeroLite ? It looks as though if you watch it turn and go the opposite direction you can swing trade it. That make sense? Thanks.

  • BalaB

    “eyes wide shut party”

    Ha!

  • Count_de_Monee

    I know you're tempted…

  • Trader Jose

    I just recently moved to New Mexico from IL. Lived in Glencoe. Where are you?

    ________________________________

  • lester

    Glen ellyn

  • grednfer

    How do you know?
    I've never been very good with predictions.
    The edges are my favorite.

    WOW….everything is just draining.

  • lester

    Is this easy to do in TOS paper trade mode. I have loaded on my PC but have not used

  • lester

    Just kidding about Blago, I live in Ill but do not know him. I just talk like him

  • http://www.aggressivelyuninformed.com nepharis

    Exactly. I was definitely not holding past 4:15EST. Had a 5pt trailing
    stop in on the ride down, but canceled and dumped at market around 4:10…
    17 handles for me.. just what I needed.
    Cheers!

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

    Total of 32 handles for me. W00t w00t.

  • http://www.hotoptionbabe.com annamall

    Would love that! Good job today!

  • http://www.hotoptionbabe.com annamall

    Off to gym to work off that huge filet I ate for lunch! πŸ™‚

  • funkypenguin

    Sorry don't use TOS (although thinking of opening an account there), I use IB and Schwab (which I should get out of)

    IB sets up a seperate account that you paper trade – have to imagine TOS does something similar.

    Good luck!!

  • 3under

    TWaffle, do you trade the change in direction both ways on the zeroLite ? It looks as though if you watch it turn and go the opposite direction you can swing trade it. That make sense? Thanks.

  • http://implicittrading.blogspot.com/ BalaB

    “eyes wide shut party”

    Ha!

  • Count_de_Monee

    I know you're tempted…

  • Trader Jose

    I just recently moved to New Mexico from IL. Lived in Glencoe. Where are you?

    ________________________________

  • lester

    Glen ellyn