Intra-Day Update: All MACDs at Zero
Intra-Day Update: All MACDs at Zero
UPDATE 9:30am EST: No, I’m not talking about the indicator. Last night I popped up my favorite MACD/stochastic combo and flipped through several hundred charts. And I quickly started to notice a recurring theme – 95% of the symbols I looked at had a MACD hovering around zero for the last week or so. This market has gone completely flat and there is simply nothing to do for us option traders when the market is flatlining. Sure, you can sell some iron condors, but frankly that’s not my cup of tea. Very annoying…
On top of that traffic on this blog has completely died down lately – I’ve tried to keep things interesting throughout the holidays but it seems everyone is gone (I hope – otherwise this might be the end for EvilSpeculator). Frankly, I hate the 2nd half of December – after December 15th everything shuts down for three weeks.
UPDATE 9:50am EST: I guess I’m talking to myself now…
This is a monthly chart of the USD – anyone recognize this pattern? The Dollar is going bye bye in 2009. BTW, we’re right at the neckline….
UPDATE 11:14am EST: I can’t believe I didn’t see this before…
How sweet is that? A tiny head and shoulders inside a channel and it’s all lining up. Give me a reason why I shouldn’t short the heck out of this once it touches 291?
Am I seeing double? I first thought I had snoozed on WYNN but this is starting to look pretty nice – maybe puts around 40?
I’m starting to like this setup on GNK – maybe good or 3-4 points on a breach of 12?
UPDATE 1:08pm EST: Okay, in case anyone missed the two dozen posts by our (ahem – fat chance) – he’s got a new blog called TheFutureTrade. Make sure you go check it out – but come right back here or I’ll be forced to hurt this puppy:
In case you wonder, this is the Evil Speculator mascot for 2009.
UPDATE 1:19pm EST: I’m a machine today – is everyone asleep at the wheel or what?
Waiting for 48.25ish on AMZN…
What is this? H&S Mania? COH looks pretty preachy at 19.40 or so…
What can I say – retailers are really screwed. I think I’ll dip into XRT at about 18.5ish.
UPDATE 4:08pm EST: When I fell out of bed this morning and popped up the futures the ES was at 869. We just finished the day back at 869, which means we didn’t go anywhere – as expected I might add. A lot a hoopla about nothin’. I have to say that the Zero called it pretty nicely. If you got in on those ETAs (first short then long) then you actually banked some coin, even in this whipsaw tape.
My GNK and THI puts are doing well however – which proves that it’s not a stockmarket but a market of stocks. BTW, those MMs on THI are damn pirates – I won out in the end though because I’m a stubborn SOB.
