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Last Line Of Defense (Again)
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Last Line Of Defense (Again)

by The MoleNovember 7, 2012

This is a special intra-day update: The spoos are now sitting at their last line of defense on both the hourly and daily panel. If you are a swing trader or scalp hunter then this may be a great opportunity for a contrarian position:

Things are looking critical – yes, again. The sheer fact that we are flipping back/forth from possible buy to sell signals several times in two weeks should make us think. Equities seem to suffer from an acute case of dissociative identity disorder and that was the big I was covering last weekend. Anyway, this is either a major fake out or it’s the beginning of a big slide. Great prediction there, Mole! 😉

Well, since I don’t have a crystal ball this means I want to be long here until ES 1400 – once we drop below that I’m short. Very simple – no ifs and no buts, and no lofty guessimations involved. Yes, we may have to change positions a few times until this sorts itself out (before X-Mas please!) but I think the gain will be worth the pain 😉

You have been briefed!

Cheers,


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.