Discretionary Trading
Now Reading
Happy Lazy Day
32

Happy Lazy Day

by The MoleSeptember 1, 2017

I take it the irony of Labor Day being a national holiday during which few people actually do produce any labor has not escaped you. Perhaps when thinking up a good name for celebrating the achievements of the American working class as a whole the other proposals may have sounded a bit too socialist to the less than politically correct contemporaries of the late 19th century. So Labor Day it was and if you are anal retentive enough to actually care about the name then you most likely are the very kind of person who spends that day working. Yes, yes – guilty as charged 

2017-09-01_spoos_update

Now if you traded along this week then I am confident that you’ll be able to afford celebrating Labor Day in style. Our lottery ticket has now breached 3R in paper profits and I’m trailing at -1 MFE, thus locking in 2R. This was a major bear trap and the potential of new all time highs on the S&P 500 is significant enough to leave this position in the running through the weekend.

2017-09-01_gold_update

Gold actually wound up punching higher but we didn’t get our entry near near 1307 as it seems to have embarked on the express elevator higher. No joy here, ladies and gentleleeches.

2017-09-01_silver_update

However if you were wise enough to be a paying subscriber yesterday then you hopefully took the silver long entry and are now able to advance your stop to break/even. It’s too early to push it any higher than that as we could easily see another shake out. Plus silver has great runner potential right now, which means I’m willing to risk about 0.5R in paper profits for the prospect of a much more extended squeeze higher.

Shameless Plug

By the way, if you missed this and other fun campaigns then do yourself a favor and sign up for a Gold membership right now. For the cost of less than one single E-Mini handle you’ll get access to all the private sections with my prime analysis, juicy charts, statistics, and of course additional setups.

beer_german

Alright, I have to run as I have very important business to attend to (ahem). See you guys next Tuesday -probably less bright eyed but hopefully sufficiently bushy tailed.

Prost!


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://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Jay Thomas

    There was debate over whether to call it Labor Appreciation Day or Labor Exploitation Day, so they compromised.

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

    Well that certainly gave me something to cogitate on during my long weekend …

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

    “This is your last chance. After this, there is no turning back. You take the blue pill—the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill—you stay in Wonderland and I show you how deep the rabbit-hole goes.”

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

    boy, extremely quiet in here.

    Natty from yesterday. I’m going to go goof-off.

    https://uploads.disquscdn.com/images/8a5beefcd4bf833eb43fb7c2e5405f629316925f271fc94ef18cb6d1abdec058.png

  • http://evilspeculator.com Sir Mole III

    Hehehe…

  • http://evilspeculator.com Sir Mole III

    REALLY quiet today!

  • http://evilspeculator.com Sir Mole III
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Øyvind Nyhammer

    Well, the 2200 TQQQ I bought on 24-Aug were up 10 USD earlier today.
    I think we made a solid bottom in August around 5780 to 5800 and had a kneejerk reaction out of it. Now we will get one of these nice bull market moves, slow days, a bit up, then a small backfill and the up again …
    Perfect time to own 3XETF on indexes …
    All the financial press and all the blogs have warned about the impending correction for the last 3 months.
    And now everybody is saying that statistically September is the worst month of the year, marketwatch.com for example.
    Do you think this the background noise for an impending correction ? My answer is no.
    Exit strategy : NDX close below 5780 and I will bail out.

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

    Congrats man!
    din jaevel
    😉

  • Øyvind Nyhammer

    I can see your Norwegian is improving :)

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

    he he. I’ll have to do delete this soon.

    don’t want to be banned!

  • Øyvind Nyhammer

    In google translator your sentence translates to “your yes”
    I cannot see how that gets you banned

  • Øyvind Nyhammer

    The correct spelling is : “Din djevel”

    Iam sorry to say that Google doesnt get that one right either.

    But since i am an expert in Norwegian …

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

    good. any way, congrats. But remember, you’re only good as your next trade.

    talk to you later.
    -GG

  • Øyvind Nyhammer

    I havent sold them yet :)

  • Grant

    Next week will be good as well. The $$$ is flowing after the hurricane.

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

    din jaevla drittsekk

  • http://evilspeculator.com Sir Mole III

    Actually I meant to post this one:

    https://www.youtube.com/watch?v=Ll3uipTO-4A

  • Øyvind Nyhammer

    Love you

  • Yoda

    Judging by the close, some are not too keen holding long positions over the extended W-E.

  • https://scottphillipstrading.com/trade-setup Scott Phillips

    Potential for a DX long reversal today. Things are lining up.

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

    your alive.
    recovering well at home I assume? any permanent damage?

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

    Swing trade or shorter term? I’ve have been eyeing a false breakdown to go long.

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

    Having a safety exit is precisely what we were concerned about your setting compared to the look again in February plan.

  • https://scottphillipstrading.com/trade-setup Scott Phillips

    Maybe some damage, kidneys still at 60%. I’m trying to get into a specialist here for a second opinion :)

    I feel like dogshit on toast, but I’m still reasonably strong, I went and benched 400lb (for those non-metrics) a week ago.

  • https://scottphillipstrading.com/trade-setup Scott Phillips

    I have setups for both. Likely if it kicks off it’s a swing-tradeable move.

    But wait for price to start moving first. Until it actually goes, it’s just potential.

  • ridingwaves

    you could S DX also and use 93.50-previous weekly candle high…

  • http://evilspeculator.com Sir Mole III