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OPEX Wednesday Freaky Hour
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OPEX Wednesday Freaky Hour

by The MoleMay 13, 2009

UPDATE 3:15pm EDT: Welcome to freaky hour – in particular the last 30 minutes should be exciting. I think we Rammstein to back us up:

Enjoy, and don’t forget to set some stops to cover you against a Goldman rally.

UPDATE 3:33pm EDT: It’s magic time – while we watch the titans duke it out with each other may I interest you in a pretty interesting post over at Karl’s digital den. Seems like we might finally get at least some regulation and transparency in the OTC market – which happens to be a lot larger than the regulated market if you can believe that. A lot of dark liquidity out there being traded outside the reach of regulation and oversight. Oh, Goldman and their other primary dealer cronies are absolutely going to hate this as it means less monkey business and less cream licking off the top. And it’s a good guess that it’ll probably crash the market – perhaps it’ll be the catalyst that propels us into Primary wave {3}. Anyway, it’s just talk right now – maybe that’s all we get but it’s a glimmer of hope.


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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  • HardTimes

    So, I think I have the opposite problem from Lester and I’m wondering if anyone has any insight.

    – I have a small cash account that I can lose 100% of and it will not affect my financial health.
    – I have a basic working understanding of TA
    – The Zero could not have been closer to a crystal ball yesterday and today, it painted a perfect picture of the action just before it happened. It has done so most days or given a good signal to stay out for the month and a half I’ve been subscribed. It’s an amazing tool.

    However, I have not placed an order in two months because I just don’t feel confident enough. I have watched and done analysis and much of the time when I’m really confident I know what the market will do, it almost always does it.

    I’m still shell shocked from the turnaround at the bottom. I still made money and I’m still ahead but it shook my confidence….

    Anybody ever deal with this?

  • arak0

    Thats right. I usually short the close for a scalp, but today I did not. SPX – ES = -1.33. Never seen futures close this strong before. Something is cooking and it could be up or down …. but something big

  • onorio

    i think Goldman loaded shorts at 930…

    let it roll baby!!

  • molecool

    Is it me or was that video shot over at Goldman Sucks HQ?

  • BigHouse(Aka Mr Vix)

    crank up the volume and take this down LOL

  • anthem

    Nothing like 10 tick /ES candles to shake out everyone . . .. .

  • annamall

    LMBO closed my GS short trade whhhhhhhheeeeeeeeeee… that felt awesome!

  • 1981er

    Anyone nibbling at DRYS here? The stock offering the other day doesn't make me happy but if we look at it on a purely technical level it's at some nice support right now.

  • annamall

    And the bears are now in charge Yessss!

  • Squidman

    Wow, Annamalls D's got to Mole. Thanks, really enjoyed that.

  • BalaB

    hmmm….I was thinking Goldman Sucks trading floor was more like this

    NSFW
    http://www.youtube.com/watch?v=FNu-9trEYqA&feat

    (thankfully this clip doesn't go any further….I'd probably lose my lunch)

  • http://www.aggressivelyuninformed.com nepharis

    Hehe… just put in stop a few min ago. I still can't believe this AAPL butterfly is working out so well… I hope others are having a good a day as I am.. this was a long time coming!

  • molecool

    She sent me pics of hers last week – I have to tell you – very nice set there.

  • mrclam

    Come on, this thread is worthless without pics.

  • annamall

    I said WYNN @ 38-39 by OPX .

  • Osso

    XLF next support 10.78

  • BigHouse(Aka Mr Vix)

    The Q's are just sitting on its ass down here at 33.06

  • Squidman

    Your the bomb baby! Let me see you stripped………..

  • annamall

    LOL 😉

  • http://www.aggressivelyuninformed.com nepharis

    I grabbed some $6 SEP calls in my now-almost-inactive Ameritrade account. If the go to zero, no biggie. I'll check back in a couple months and see what happened. =P

  • annamall

    That wouldn't be fair, you wouldn't be able to focus! 😉

  • innatedc

    MM's are prolonging the move til right at the end……sneaky bastards…

  • Keirsten

    Big buyer down at 6.15. He's been sitting there all day.

  • molecool

    Have your stop ready above 1350 in the NQ and 887 in the ES – and you should be fine.

  • molecool

    My apologies annamall – I think I got them all hot and bothered.

  • Keirsten

    There's your FAS crash Big. ^5.

  • BigHouse(Aka Mr Vix)

    Keep making new lows FAS weeeeeeeeeeeeee

  • onorio

    i still think this move is too short for a wave 3, i think we gap down tomorrow as (iii) of 3…

  • BigHouse(Aka Mr Vix)

    Licky licky lol…..

  • annamall

    Down & Down she goes where she stops nobody knows! 😀

  • BalaB

    EOD is one giant nothing burger……

    Have a good night all….

  • Osso

    Qs and SMH…holding now….maybe SMH 18.90 RS holds.the down move.

  • annamall

    How's your coach doing?

  • Keirsten

    Down like a fat chick in dodgeball. Mwahahahaha.

  • grednfer

    The gRIFIN just making new lows and FAZ may hold an up trend for more than a day……..ooooo

  • annamall

    Mwahhhhahaha 😀

  • ckeltner

    600 resisted quite a bit on the way up and should be support of some sort now

  • Squidman

    Yeah, I'm off to the gym. Get em again tomorrow!

  • innatedc

    Shit do I hold overnight or cash in….anyone, anyone….bueller, bueller…..someone help me!!!

  • roncofooddehydrator

    Bulls trying to rally…

  • redpill

    time for a little short covering rally?

  • BigHouse(Aka Mr Vix)

    COH is doing nothing going sideways….grrrr

  • innatedc

    No these are short coverings….may leave some profits on the table tommorrow morning…

  • annamall

    hang in the big guy! 😉

  • KidDisco

    Do you mean short in terms of duration or in terms of market move down?

  • BalaB

    Check out CME

  • Keirsten

    Look Big, you must do better with that COH. Anna and I would like to upgrade to Hermes soon. 😛

  • TomOfTheNorth

    BalaB – I think we're gonna have to set some boundaries for you…….

    lol

  • annamall

    It's a gamble I just sold /ES for 885.00 but probably won't hold overnight

  • Fujisan

    I can't believe nothing is happening at EOD. It's been flat for the past 3 hours!

  • TomOfTheNorth

    Bueller's sick……

  • salvadorveiga

    shhhhhhhhh 6 minutes to goo… it's not over until the phat lady sings 😀

  • annamall

    I know the QQQQ's haven't moved

  • dingos

    Not staying short here

  • springheel_jack

    The S&P 20 day MA is at 880. We might yet close below it which would be a very bearish sign. Already there on the Nasdaq of course.

  • Squidman

    For tomorrow drop and pop

  • http://tradingsigns.blogspot.com/ T. Waffle

    886-887 range is a great place to go short if we close in this range.

  • http://tradingsigns.blogspot.com/ T. Waffle

    Guys I feel there is something big coming. Either side. I am happy to be in cash.

    If you see profit either take it or put tight stop. I don't like this tape even tho we are down.

    something doesn't look right to me.

  • innatedc

    Closed and sitting on cash….lets see what tommorrow brings…

  • alphahorn

    I'm with you

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Covered FAS short

  • MikeT

    Is it the participation?

  • annamall

    What a rocking Day OMG 10% of my book ^ Hope everyone did well! 🙂 Today off to gym cause I am grinning so hard it hurts.

  • Squidman

    Waffle, what is your plan for overnight and tomorrow setup if you don't mind my asking?

  • innatedc

    Alright guys, another profitable day for us….feel better about having closed and lots of capital to work with tommorrow…..thanks for everyone's input and I will try and post some plays later on tonite…peace out bruthas and sistas….

  • http://tradingsigns.blogspot.com/ T. Waffle

    MikeT,

    I don't know what is it, I can't explain but I just get this vibe that there is something coming, something big coming. I will take very small short position but that's about it.

    Something is wrong.

  • annamall

    Ditto sweetie!

  • malusDiaz

    For months now…

    Dread.

  • http://tradingsigns.blogspot.com/ T. Waffle

    I am looking to short ES @ 898 area. But today's market action left a big ? in my mind. I think I am going to cut my order. I will put a short order for only 1 contract.

    I will be posting few charts and may be another video on my blog I will keep you (& others) posted.

  • annamall

    ps I closed /ES for 881.75 (a few xtra $'s)

  • nummy

    yeah i feel it too. smells like a bear trap?

  • yazzer

    the bottom's gonna fall out – but maybe not before one last run-up….the house of cards is teetering with the wind speed ever-increasing – that's what you feel.

  • springheel_jack

    S&P futures are trending up & the S&P 60 min stochastics suggests that we might see a strong start tomorrow.
    I hope so, as I'd like an opportunity to increase my short position at 900 or above.

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • molecool

    Yes, I noticed the PREM as well – almost like the old days…

  • ropey

    I know i can imagine with all those BF's you setup last week, i was a doubter to be honest so thankyou for putting me in place….it also means Mole willget another paying subscriber and i tend to not buy things usually as they are a waste of time but this seems to have some merit. I had Q puts today, could of rode it all the way down but got out too early – fear factor of the bulltards again lol….a little zero help may of been required 🙂

  • ropey

    Yeah i know! Strange close, i'm still thinking they want to fill that gap before whipping it down, those MM's hate too many large gaps on the indexs and we still have another from the /ES high a previous day….bit mad.
    Anyway loved the call – you've been spot on and really appreciate the insight along with all the cool info from Mole, Anna, Kiersten and so on..

  • nummy

    ccccccccoooooooooooooollllllllll
    🙂

  • http://www.aggressivelyuninformed.com nepharis

    Mucho thanks to Fujisan, annamall, and of course our excellent host Herr Mole. I took a pretty huge drawdown last month in this rally, due largely in part to crappy risk management and naked options (no, not naked shorts, but unhedged). Fujisan's spread tutorials have been pivotal in getting me back on track with my risk management, and some big profits from today and yesterday have been an excellent boost to my trading morale.

    Cheers!

  • fuzzier_joe

    For the blog owner:

    Absolutely kick-A$$ embedded Rammstein video !!!

  • goldfishka

    hi everyone, i am just lurking here for a past few days and like what i see so far 🙂

    what are subscriptions everyone is talking about and is there a trial period to get a taste of it?

  • Mr. Burns

    Does this not indicate a strong open tomorrow, as hedgers will arbitrage out the premium by buying stocks?

  • arak0

    Index PC says we will go down tomorrow.

  • arak0

    The same thing happened yesterday as well, but at least there we closed more or less unchanged for the day.

  • grednfer

    You are correct……may hedge up here a little.

  • annamall

    No worries I am use to it..

  • arak0

    Index PC says we will go down tomorrow. So, I'll short ES tonight after Europe opens. maybe we get to the pivot at 892.

  • arak0

    The same thing happened yesterday as well, but at least there we closed more or less unchanged for the day.

  • grednfer

    You are correct……may hedge up here a little.

  • http://www.hotoptionbabe.com annamall

    No worries I am use to it..