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Close Shave
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Close Shave

by The MoleApril 17, 2017

Welcome back, I trust you enjoyed a lovely and relaxing Easter holiday weekend. It’s actually still going on over here in (catholic) Spain and many other European nations which continue to officially observe Easter Monday. So it’s safe to say that I probably have the questionable honor of being the only person working in Spain today! Well me and the local drug dealers who unfortunately seem to have been replicating like rabbits here in Valencia over the past few years.

Now, you may recall my lottery ticket long entry on the E-Mini last Thursday. Which most likely you didn’t grab given the significant potential for a nasty gap (up or down) after a three day Easter weekend in combination with various ongoing military campaigns throughout the Middle East and North Korea. Well, if you actually took the campaign then you may be surprised to still find it intact this morning. It was a bit of a close shave however as the ISL below ES 2322 was almost triggered late last night.

2017-04-17_spoos_update

Yup, that was close and in retrospect I should have probably put my ISL a tad farther away. But alas we got away with it and if you’re interested in following us into the abyss then now may be a good moment as price has reverted back to whence it came last Thursday. FYI – this is still a very low odds but high payoff entry opportunity, so adjust your position sizing accordingly. In case you wonder, yes as of right now the spike low represents good technical context and thus you should place your ISL a few ticks below it.

2017-04-17_silver

Silver has been producing a rather interesting formation which could be labeled an inverse H&S but IMO that definition is a bit over used. But I am definitely seeing a channel with one single scare and pop in the middle. What I would would like to see now is a drop back to toward the lower range around 18.3 where I would consider placing a long position with a stop a healthy distance away. Put this on your watch list but I’ll be posting an update if I see things congeal in our favor.

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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.
  • evilasevildoes

    thank you for taking care of us subs

  • StockTalker

    Attempting to short /ES 2335 (Resistance now)

  • Darkthirty

    This has .gov written all over it. VIX beatdown, 15 minute ramp cycle

  • ridingwaves

    making up for the gov. written sell off then?

  • Darkthirty

    didn’t see the timing on that, a lot of systems don’t work when it’s artificially banging the tape…As long as you’re stacking, it’s all good!

  • ridingwaves

    more than likely we are green because nothing happened this wknd….except some anarchist Soros funded liberals getting into it with some Trump fans in Berkeley….that was a hoot to watch on various videos…

  • Darkthirty

    Been thinking about joining them. Street brawl and no jail time! Win/Win

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    there was a video of the cops holding back, doing nothing.
    refer to our communications officer they chimed.
    sheesh.

    EDIT:
    http://www.theblaze.com/news/2017/04/16/videos-show-berkeley-cops-doing-nothing-as-violence-erupts-between-protesters-in-street/

  • ridingwaves

    the outcome was a given based on location…

  • Darkthirty

    Looks like everybody showed up to play. 2338.50 is stop for shorts

  • Darkthirty

    Stupid shit due to politics. all a game. some days we enforce laws, some days we don’t

  • Trouzzer_Snake

    I went long /ES at VWAP – 2333.50 My personal trend day alert says its an up day too so looks like good betting odds. I’m keeping my ISL a little tighter though. 2329.

  • ridingwaves

    needs to hurdle 2340….resistance now…..

  • Darkthirty

    2338.5 is what I got,

  • http://evilspeculator.com Sir Mole III

    Got to earn my hosting fees 😉

  • http://evilspeculator.com Sir Mole III

    Laws are only for the little people…

  • http://evilspeculator.com Sir Mole III
  • Darkthirty

    To a point. It gets dark every night so adjustments can be made…………

  • Trouzzer_Snake

    I didn’t see the Trend Day Alert for this morning… What did it come in at?

  • ridingwaves

    buy programs kicking in above 2340…could get a 25 pt spx day the way things are unfolding

  • Trouzzer_Snake

    My sell order is in at 2345.50

  • Darkthirty

    Trying it at 2339

  • http://www.captainboom.com/ captainboom

    Remember the Golden Rule: Those with the gold, make the rules.

  • http://evilspeculator.com Sir Mole III

    Me neither but I’ve had some data issues this morning. I’ll check again.

  • http://evilspeculator.com Sir Mole III

    NYSE TICK closed 71.73% above its zero mark. LOW probability of an Up Trend Day!

  • Trouzzer_Snake

    thanks

  • http://www.captainboom.com/ captainboom

    FYI, I did not receive the trend day alert today. I usually have no issue. Actually, I seem to recall having three of them come in yesterday.

  • http://greenlander1.blogspot.com/ Greenlander

    Die VXX die. Sold ARNC on the pop this morn and looking to park proceeds in biotech, maybe BLUE.

  • http://evilspeculator.com Sir Mole III

    We know – it’s fixed and today’s is copied above ^^

  • Trouzzer_Snake

    My intra-day breadth indicators are showing a lot of room to upside still. Think you might be right…

  • http://evilspeculator.com Sir Mole III
  • ridingwaves

    how did you get hourly on that chart? btw- silver is building inverse h&s

  • Mark Shinnick

    Yes, based on historical behavior fading short term vol was the only credible point of view.

  • http://greenlander1.blogspot.com/ Greenlander

    yah VXX short from mid wk last wk. lotta other stuff that helped the trigger like SPX price action/ lack thereof and VIX/ VXV ratio hitting 1

  • http://greenlander1.blogspot.com/ Greenlander

    RW any biotechs u looking at? I have a load of XBI and eyeing BLUE

  • ridingwaves

    I like EW if it can get above 96.50 for run to 100, then it gets serious with gap above at 101.15 I figure a push down at 100 or move to 101 then push down, so trailing stops on way up would tighten accordingly, bullish on MFlow and Williams indicator right now, sorry don’t have access to charts at this time…

  • http://greenlander1.blogspot.com/ Greenlander

    EW looks interesting. Nice volume pocket above. Thx

  • http://greenlander1.blogspot.com/ Greenlander

    eyeing XLF long here

  • Trouzzer_Snake

    Closed out for 12 Pts ES – 1R in the bank.

  • http://evilspeculator.com Sir Mole III

    How did everyone do today?

  • http://evilspeculator.com Sir Mole III
  • Trouzzer_Snake

    Bought at the VWAP touch and never looked back :) 12 pts in the bank.

  • http://evilspeculator.com Sir Mole III

    MEMBERS: I switched the amember pages over to HTTPS – if there are any problems logging into the site please email me at admin@ ASAP.

  • http://evilspeculator.com Sir Mole III