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End Of The Line
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End Of The Line

by The MoleFebruary 6, 2015

We are but a handle or two away from what I consider the end of the line for the bears. I haven’t seen any hiccups in the equities futures overnight and although we do have an NFP report in less than an hour the path ahead seems to be cleared to trigger the final short squeeze.

2015-02-06_spoos_briefing

As you know I’m holding a fistful of lottery tickets to the downside (OTM SPY puts) but I expect to lose them and am already long the E-Mini with a stop below 2050.

2015-02-06_events

So we got the NFP for January at 8:30am EST followed by the unemployment rate – probably good for a few swings. If I get kicked out of my longs and it pushes back higher I intend to retake them (assuming a decent fill).

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See you later this afternoon – stay nimble and keep it frosty.

Cheers,


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.
  • Skynard

    NKD showing weakness here, lower highs in place.

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

    Gold on the move, let’s see if there is follow throughout the day.

  • Skynard

    Took off /DX long, S NKD

  • DarthTrader

    I was thinking Pop & Drop with Eur/JPY down but it has rallied much of it back. Looking to lighten my longs a little bit. It’s been a good week.

  • Billabong

    Miners were starting to show signs of life yesterday. FCX, HL, ABX, etc…

  • M E

    is that a major div or am I just not reading the Zero properly?

  • ridingwaves

    Bears hibernate in winter…

    https://www.youtube.com/watch?v=cwqhdRs4jyA

  • Billabong

    BABA potential short. It’s under selling pressure and real close to post IPO low of $82.81. I would wait until $82.81 fails…

  • ridingwaves

    Higher Volume in XLF than SPY…financials holding the line..

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

    look at September..
    at least that is my lens.
    [BPGDM]
    http://stockcharts.com/h-sc/ui?s=$BPGDM&p=D&yr=2&mn=0&dy=0&id=p99193909996

  • Billabong

    Look at DX … +1. Strengthening USD … the US is a jobs manufacturing machine (LMAO).

  • Billabong

    Nice point … chart reminds me of the Alps.

  • ridingwaves

    fx volatility as repeated before is going to be insane this year…global news will rock pairs to and fro…

  • captainboom

    It looks big because the scale is small. Always check the right side scale, as it auto-scales. Anything less than 0.5 is not very meaningful.

  • ridingwaves

    Look back at NFP anouncements and gold and see the wanton destruction on NFP days…their is an edge there..

  • jmoney3000

    Scaling into OTM S&P Puts this morning

  • Skynard

    Last chance for bears today, if they can not get control up we go.

  • ridingwaves

    think it could go to 2150-75 before bears come out in early spring….foraging for bull blueberries

  • Darkthirty

    if they blow this, they can eat dingleberries

  • Skynard

    The hourly div could play out as well, might be watchful of that.

  • ridingwaves

    entered ISR stop at 1.31…exit 2-2.50 if it happens

  • ridingwaves

    volume feels like Kaboom is going to happen…block buyers showing up…

  • http://evilspeculator.com molecool

    I was out for a few hours – please tell me some of you guys traded this textbook divergence.

  • http://evilspeculator.com molecool

    Sorry I was out running errands – and yes, that was a massive one. Good job!

  • http://evilspeculator.com molecool

    He got a point by the way – but it maintained for quite a while so it was worth a shot.

  • Skynard

    :)

  • ridingwaves

    will 2060 provide support….

  • Skynard

    Holding short, /ES gap @ 2056

  • Skynard

    /TF selling very hard now

  • Guest

    bullberries

  • http://evilspeculator.com molecool

    ______ _______________
    ___ _______ _____ ___ /_______ _______ ______ /___ /
    __ | /| / /_ _ _ _ __ //_/_ _ __ __ _ __ / __ /
    __ |/ |/ / / __// __/_ ,< / __/_ / / // /_/ / /_/
    ____/|__/ ___/ ___/ /_/|_| ___/ /_/ /_/ __,_/ (_)

  • http://evilspeculator.com molecool

    Mmmh, good point…