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Intra-Day Update: Survivor
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Intra-Day Update: Survivor

Intra-Day Update: Survivor

by The MoleOctober 10, 2008

UPDATE 11:56am EDT: The market is fighting for its survival right now. In the last hour all index futures have been gyrating around their respective pivot levels:

YM: 8260
NQ: 1237
ES: 876

The Yen is going strong, which is putting additional pressure on the market. I just saw a breach on the YM and grabbed some YM puts – so far so good. I will post an update once I get out. Might be a chance to trade it back up. I’m sticking mostly with index options as the bid/ask spreads are insane on equity options. No surprise there as the VIX just hit a whopping 73.54 – insane!

Keep it clean & limit your exposure.

UPDATE 12:29pm EDT: I took profit on my DIA puts. The market is fighting a battle and we’re seeing huge swings in each direction. If you are able to daytrade this is your chance to scalp easy profits.

UPDATE 1:15pm EDT: Looks like those editors over at MarketWatch are reading our blog:

Hey MarketWatch – can we get at least some credit here? You don’t want me to get angry – we all know what happens when I get angry:

UPDATE 1:36pm EDT: I think they got my message – LOL:

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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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