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Full Metal Alchemist
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Full Metal Alchemist

Full Metal Alchemist

by The MoleJuly 17, 2009

1:55pm EDT: Alchemy is a secret art which I’m using to get a leg up with my ZG futures trades:

I seem to have competition lately however:

Remember this chart? Well, that sideways channel used to act as resistance on the way down but magic Goldman/CNBC alchemy has turned it into support now. This is a line to keep in mind – assuming you are a bear and are hoping to enjoy a better exit for your puts. Meaning this line will have to be breached and I expect it to be heavily defended. At this stage however I take the few downside handles I can get my greedy paws on.

So, paranoid as I am it occurred to me of course that we could be pushing higher here and then drop into a fourth wave – the bottom of which might be around this 933/934 line.

So, continuing my mental masturbation I drew some fib retracements from the bottom of this leg all the way to my projected target of 952.5. Guess what – an obligatory 23.6% retracement would get us to 932.5.

Sorry for ruining your weekend – hehehehe 😉

2:52pm EDT: Another one:

This seems to be our little daily micro channel for today.

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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 the usual social media waterholes.
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