Discretionary Trading
Now Reading
Quick Entries
57

Quick Entries

by The MoleSeptember 27, 2017

My VPS finally came back online after what in the end amounted to a 48 hour outage. Quite frankly speaking in this day and age this is an outrage, especially in an industry operating on razor sharp margins and literally increasing global competition. The one positive take away was that I finally relented and started looking for a more professional operation guaranteeing at least 99.9% uptime. And I think I may have found just what I was looking for.

Some helpful folks on a hosting forum pointed me toward the existence of ‘forex VPS providers’, a niche market I wasn’t even aware existed. Turns out forex VPS providers are catering exactly to traders like you and me who want to externalize their setups and usually require Windows based virtual systems, comparatively little bandwidth (no website or blog visitors), but solid and scaleable CPU power. I managed to set up an SSH server last night within just 15 minutes and then copied almost everything onto the my VPS. Thus far everything seems to be working fine and if I don’t run into any hurdles I plan on switching over to the new VPS this Sunday.

Before we get on with business I would once more like to extend my gratitude to all subscribers who have been extremely patient and supportive during what turned out to be two very stressful days for me. You guys are great and your continued support is very much appreciated.

2017-09-27_spoos_entry

With three Fed speakers on the roster later today it’s most likely going to be a quiet watch and observe day. However there are two long entries I think have potential, the first one being the E-Mini. The formation on the short term panel looks like as if we may see an attempt to breach higher sometime soon. I’m long here with a 0.5% R size (as I am expecting spikes in volatility) with a stop below the recent major spike low at ES 2485.

2017-09-27_CL_re_entry

As anticipated yesterday, crude dipped below my trailing stop at 1R. I am however back in long with a stop just below that SL at 51.43. No guarantees but we are looking at a potential break out and trending situation so I’m willing to risk a 0.5% R size here for a potential short squeeze with a vengeance.

2017-09-27_USDCAD_update

USD/CAD is still in the running and continues to look solid. I’m advancing my trail to just below 1.233 as the cautious approach thus far has served us well. Looking at the recent short term gyrations it becomes clear that this has not been an easy campaign. But realized volatility seems to be slowly dissipating which opens the door for a more sustained and directional advance higher.

 


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.
  • Brishort

    Thanks Mole for the post. USD/CAD indeed not an easy campaign, but got in on your initial call of this one. I am actually having a trailing stop at trendline minus 10 pips. Therefore 1.2340 at this point, but in line with your comments. Thanks for all those ideas!

    Re: ES: Gapped above downtrending hourly trendline. Bullish call reasonable. Zero currently pointing towards usual “retrace the opening gap” behavior. Once and if completed, any view is as good as the other since it will be the 8th day of ES within 10 points + or – of 2500, 20 points total range since last option expiry….basically useless since Sept 15th….

    Probably what the hourly zero is seeing: an absolute sideways range without any exact actionable edge extractable. Equivalent non confirmation at the NDX side. Hence nimble trading remains on deck, no trend following working at this point since… well… not decipherable trend!!!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Going to the doctor today,
    going to sit this one out.

    https://www.youtube.com/watch?v=5bw6Kch4s4o

  • Brishort

    ES opening gap now closed.. Zero… well slightly diverging bullishly but without any clear significance…well..back to … zero….

    Bottom line: easy time in trade vs % move of the morning gap close trade now closed.

    Status: Not finding any current edge either bull or bear at the moment.
    Back to square one in search of next trade.

  • StockTalker

    There goes crude oil:)

  • Julie

    GDX stopped out of remaining 1/2 long position ……. Made some on previous 1/2
    JULIE

  • HD

    another pic of Mole’s evil lair?

  • Yoda

    lol

  • Mark Shinnick

    its about time.. Began entering some short equity this morning, tight stops.

  • OJuice

    $NuttyGas showing the first signs of a potentially healthy move…

  • Yoda

    Agreed

  • Mark Shinnick

    Standing aside….see what happens.

  • Julie

    OJ IMO you nailed it Bro !
    JULIE

  • Brishort

    ES back to VWAP, Zero flatlining. 20 points range not broken either side. NDX P&F neutral as well. I guess besides a bit of ES ABC counting on the 5 min to , there isn’t much to chew for lunch!!!!

  • Julie

    OJ UNG a bullish rounded bottom !
    JULIE

  • HD

    EOM EOQ window lickers this week? They gave em a dip to buy 24(89) and show some gains. Battle is 250(8). September opened 2474 and rallied exactly (34).

  • http://evilspeculator.com Sir Mole III

    Hehe :-)

    Why do you think I moved to Spain? 😉

  • OJuice

    So far and especially if UNG clears 7.00.

  • OJuice

    I wouldn’t go that far just yet. But, I’ve been lucky so far.

  • OJuice

    Sure looks like a low volatility bullish consolidation that can chop around the recent range, with some minor range expansion on either side. My plan is to look for a potential short opportunity if/when there is a decent range break to the upside followed by a reversal. Sometime late Oct or Nov perhaps.

  • Mark Shinnick

    Ok, so on one hand we are led to believe in CB divestiture, but on the other we have this. Are the sales of assets being financed?

    https://uploads.disquscdn.com/images/03a9b73d07092be32a1d9b94c3a956aaaa1ffb6f83a86762fbae021ad9fa9787.jpg

  • ridingwaves

    slowly working off overbought….dollar at most important juncture here….still hasn’t closed above the weekly candle tails from August, fed talk is no inflation in site….

  • HD

    EXAS http://evilspeculator.com/statistics/?symbol=exas
    52 week range (13) rallied exactly (34). at $47. What Oct put would someone suggest?

    Oct $40 ? $0.30

  • StockTalker

    Doji on CL daily yesterday, shall see

  • http://evilspeculator.com Sir Mole III

    They have very little meaning. I ran the stats on those and on hammers, shooting stars, inside and outside candles, and many others. Candle patterns are mostly a remnant of a bygone time. Just FYI…

  • http://evilspeculator.com Sir Mole III

    Which is why I was a bit surprised about the Euro. I think in the end it was just a forex vigilante short squeeze fueled by assumptions that Europe was all hunky dory.

  • HD

    this is above my pay grade :-)

  • ridingwaves

    a candle in the wind….

  • Wave_surfer

    Did one of the CB talks just happen?

  • ridingwaves

    fed bullard states no interest rate hikes needed….plus the tax announcement will power up some symbols

  • StockTalker

    52.20 seems like the culprit.

  • StockTalker

    Market stayed up just to stop my FN SPY position. Time to move back down now:)

  • HD

    outside week, shake n bake. Close above 2508 would be interesting development.

  • ridingwaves

    Hey all,

    I see snp 2800 on Monday after Yom Kippur buys pour in….snark of course it’s pretty hot here in the Western evil lair, San Francisco 90 degrees! time to go surf….small but no wind and sun…..adios

  • OJuice

    It’s a scorcher out East too. Sounds like great long boarding conditions. Enjoy.

  • ridingwaves

    thanks and you got the right board….but sun and no wind is shangra la around these parts….

  • OJuice

    76 percent odds for a hike in December. Seems a bit optimistic to me. I think I’d take the other side of that bet.

    http://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    A very nice 65 degrees in Bozeman MT….. Fall has arrived the Aspens a beautiful gold !
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    Glad you are feeling better GG I missed this morning’s pop in KEM BUT now want a bullish close above 21.90
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    no chart would tip the occurrence of news.

    Meanwhile, Kemet (NYSE:KEM) is up 4.6% in late trading as it’s going into the SmallCap 600 to replace Astoria Financial (NYSE:AF), which is being acquired by Sterling Bancorp.

  • Yoda

    To me, the Tape looks like it’s holding just because it’s the end of the Quarter.
    I am going to get some (really cheap) downside protection before the week is over… and some gold too. I’ve a gut feeling that October may get brutal.

  • HD

    45’s it is. <$1 Feels terrible.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    well, if you *insist* on getting gold,
    at least wait until the ratio is 4.94
    😉

    http://stockcharts.com/h-sc/ui?s=GLD%3AUUP&p=D&yr=1&mn=0&dy=0&id=p67874146445

  • Yoda

    yeah, most of the time they are just psychological traps

  • almez

    Just wondering OJ, do you think natural gas will move up from here? It’s going to be a quite warm october; it might be similar in temperature to september, and if this holds, I’m expecting the /NGX7 contract to trade down to 3.00-2.95.

  • Yoda

    I’ll drop a comment when I am nibbling again on it

  • http://evilspeculator.com Sir Mole III

    I’ve got a new service in the making:

    Got short squeezed with too many puts? Call 1.800.ROCTMAN – Kim Jong Boom’s got you covered!

    https://uploads.disquscdn.com/images/dfaebe3967b77bd6bff8629e72ae58164d4ad588c39ab7ab6e93e8ce69a1ca34.jpg

  • http://evilspeculator.com Sir Mole III

    GG you’re a silly gerb. Anyway, how come great white sharks don’t like Mexico?

  • Mark Shinnick
  • OJuice

    Couldn’t say.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Because they can’t get salsa with their Mexican! LOL

  • http://evilspeculator.com Sir Mole III

    Hey guys – I’m working on a post but am tormented by one technical problem after the other. Give me another 20.

  • Brishort

    No room for slackers!

  • http://evilspeculator.com Sir Mole III
  • http://evilspeculator.com Sir Mole III

    I somehow ran into one technical issue after the other. It’s been a sucky week :-(

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    hurry up, I got a morning p3.