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Smoking POT
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Smoking POT

Smoking POT

by The MoleFebruary 9, 2009

UPDATE 2:00pm EST: POT is making up for some SPY ugliness today:

I don’t think I could have gotten a better entry here – so far so good.

Before you girls get all moist about the sudden drop – that channel on the NDX is holding thus far and as I’m typing this we’re pushing up hard again. Trust me on this leeches – the MMs are going to tease this out all the way and burn through as many stops as possible.

UPDATE 2:28pm EST: Sorry folks – the server crapped out again – grrrrr. Since then we’ve breached that channel and have plunged below the VWAP on all index futures. A good start but nothing more – we need to see some hardcore drop here, otherwise I’m afraid it’ll just be a reload for the bulls. I’m talking double penetration, leeches – this better be good. Actually, as I’m typing this we’re bouncing off the YM pivot and off lower 2.0 standard deviation lines on the VWAP. I think now it’s do or die for the bears.

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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