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Intra-Day Update: New Victims
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Intra-Day Update: New Victims

Intra-Day Update: New Victims

by The MoleOctober 15, 2008

UPDATE 10:10am EDT: I’m going to start adding a few symbols here – please note that all of the following are heavily overbought. I keep adding as the day progresses.

AET ACI AMX APH BEN EXC GOOG HES HUM ICE PH XOM AFL CMI CNI CNQ EMR JOYG MON NOV PX RKH BUCY SRE

BTW, be careful out there – I’m seeing conflicting signals. The TNX is holding steady around 4.1% and the Yen is trying to rally but is not pulling it off as of right now. Let’s always remember that it’s expiration week and that MMs love to whip the market around. I encourage everyone to sell the rips – if we get one of course. It’s tough to watch the market run away from you, but that’s the kind of psychology that bites me in the butt almost every time I yield to greed.

UPDATE 10:15am EDT: Wow, here’s might turn out to be the pick of the week: AMZN. It’s got a gap as big as the Bering Strait – if this breaches it should be fun. Hat tip to Jorge – who brought this to our attention.

UPDATE 10:37am EDT: Tim Knight just mentioned BBD over at the SOH, and I want to point out that it’s got 0.5 days to cover floating shorts. Can you say overbought? Mwuhaaahaaaaaa!!!

UPDATE 12:08pm EDT: Take a look at this left chart between the Yen and Dow futures. Under normal circumstances the market should be popping up higher, but it seems the Dow is dropping along with the Yen. This indicates that there is considerable weakness in equities.

UPDATE 2:10pm EDT: Nice drop just now. NQ at 1280 pivot. Although the Yen looks overextended right now I don’t see much strength in the market. If we breach 1280 before the close all hell will break loose.

UPDATE 2:30pm EDT: I love that Yen/YM futures left chart. I saw the Yen pushing into overbought territory and closed my Oct puts (MA, BIDU, GOOG) at max profit. Precision at work – gotta love it when things work out for a change. Anyway, the Yen gets a break around 3:00pm and often the market then either rallies or drops. I might play a little daytrade if I see a pivot being taken out.

UPDATE Closing Bell: I hope some of you followed me into the abyss today and thus banked some coin. Go out and treat yourself – I’ll post an update later tonight.

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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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