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Strolling Down
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Strolling Down

by The MoleMay 1, 2009

UPDATE 11:11am EDT: As tape is being slowly walked down the only question for me is when and where it will break to the upside:

We’re a tiny bit higher since I took that snapshot but the channel is pretty valid I think.

Today is Mrs. Evil’s birthday and I’m going to be back after a special b-day breakfast I prepared for her. I sure hope she likes the wrench set I got as her present – if not my backup is a bottle of Old Spice.

UPDATE 11:31am EDT: The wrench set wasn’t as well received as I had hoped. I need to be brief as I’m bleeding profusely and require urgent medical attention:

Gold is taking its merry time but at least continues to move in the right direction which is nice. Except for the obligatory intra-day consolidation candle we should not get near 900 anytime soon. My GLD puts are looking a lot better but are quickly running out of theta, so time is of essence. When I warned about buying enough time when playing GLD I was not kidding – I got those about five weeks ago.

The old buck is acting a bit like trasuries a month ago – completely confused. I would not dare slapping a wave count on this thing as those directional changes are getting ridiculous. I find it curious that Gold is dropping alongside with the Dollar, which proves once more that it’s extremely dangerous to rely on fundamental correlations, especially in this manipulated market.

Finally, we are now above VWAP on both the ES and the NQ – let’s see if it holds.

Hey, should I be worried about blood leaking out my eye sockets?


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.
  • BalaB

    So far, the futures tape is very reminiscent of the recent past whipsaw days.

  • katzo7

    Nice call Blind Squirrel, run your stop up it's butt though.

  • Keirsten

    A WRENCH?!? ROFL. Happy Birthday Mrs. E.

  • Squidman

    Yeah, I'm about to give up on this tape. As Mole predicts, I expect the fuckery to begin soon.

  • annamall

    Have fun Mole, and really give her what she really wants!! πŸ˜‰

  • BigHouse(Aka Mr Vix)

    Happy Birthday Mrs Evil.

    XLF weak compared with general market

  • katzo7

    Ohhh, you are bad.

  • mrclam

    anna, spot on again! you really must be a clairvoyant of some sort πŸ™‚

  • Blind_Squirrel

    See how you have corrupted this
    sweet girl!!!!!

  • alphahorn

    short STLD @13.20, stop $13.75

  • BalaB

    Notice: YM, ES and NQ are getting bids at the very same time. The stinks to high heaven.
    Look at Zero if you need confirmation. There's no reason to be trading the Futures (intra-day) right now….IMO of course (which truth be told….I'm a complete screw up….so maybe you source a more knowledgable perspective..LOL)

  • lester

    Happy BDay to Mrs. Evil. I just bought my better half a birthday gift yesterday. I will not tell you what it was though…

  • Lori

    is it the classic Old Spice bottle?

    http://badgerandblade.com/gallery/displayimage….

    If so, I think I can guess exactly where she's going to shove it.

    Happy bday Mrs. E

  • annamall

    Its looking good so far. πŸ™‚ I did 10/20/10

  • annamall

    Just honest! πŸ™‚

  • BalaB

    'entrendre” heheheehe…I had to look that one up……

    Snicker…I should have stayed in school…

  • LostIllini

    Bought a couple 86 Spy Puts as a quick scalp….

  • Guardian

    sounds more like what he wants,

    and your comment maybe what you want ????? πŸ™‚

  • annamall

    Keirsten, Did you see the diamond necklace Steve Wynnn bought for some lucky girl. looked like a 30K diamond!!!!!!!!!!

    Mole there's a gift to give to Mrs. Evil !!

  • Blind_Squirrel

    He'll get her a CZ replica with a fake certificate!!!

  • lester

    does Mole's yellow highlight at 86.4 mean that we could get there today? Of course we are now well out of the channel so I suppose that target is not valid…

  • molecool

    Was it long and cone shaped?

  • lester

    more like a mushroom

  • lilme

    Now stress tests being released on next Thursday, I guess Rahm got feedback overnight that to get the hysterical bulls wait an entire month might not be the best way to manipulate the markets. This contains full list:

    http://www.cnbc.com/id/30518465

    Mole, were you speaking in spy-speak about 'breakfast' with Mrs. Mole? I demand the menu.

  • anthem

    Hmm, very interesting. In the last half hour, SRS has walked up 0.50 while the SPY has gone up 6 points. Now, one isn't tied to the other, but usually when SRS is positive the market is heading down and vv. They are almost always counter to each other. . . Hmmm.. . .

  • Fujisan

    Happy Birthday Mrs. Evil. You are one lucky girl!

  • annamall

    Ha ha ha….your'e smart!

  • lester

    I think SRS may be driven by SPG which is drooping

  • BalaB

    Lester…..uh, you may wanna see a doctor about that.

    I think the term is Chlymidya?
    LOL….j/k man

  • molecool

    No, these are support/resistance points – potential breaches as well. We are well above the channel right now, so maybe I caught the breach right there.

  • lilme
  • Blind_Squirrel

    Notice: YM, ES and NQ are getting bids at the very same time. The stinks to high heaven

    Zactly: Pump and Dump!!!

    Squirrel's pea brain don't know much, but he
    Knows Sol and Vinny!!!

    I also know Jack Schitt!!!

  • katzo7

    either it fails here or goes higher. duhhh katzo.
    i think fails.

  • BalaB

    “Hey, should I be worried about blood leaking out my your eye sockets?” – Nah….I'm pretty sure that's normal.

    LOL

  • annamall

    Even a good CZ that size would cost allot. Did you see that thing? :-0

  • annamall

    me too, this is a snoozer. πŸ™‚

  • lester

    didn't congressman Alcee Hastings talk about that yesterday at the House?

  • Autopsias

    You earthlings give strange presents…

    We usually settle for a respectful kiss in the chick πŸ™‚

  • BigHouse(Aka Mr Vix)

    XLF turnign red here

  • lester

    fails would be good, I am trying to be patient

  • TomOfTheNorth

    mole – tape it up & shake it off

    On a more serious note, the Administration came under some heavy criticism for Air Force One buzzing a workday lower Manhattan into a fearful frenzy. However, the temporary discomfort is more than offset by the stunning photo-op the moment presented. Here's my personal favorite – quite grand and reminiscent of Tommy Bartlett for you Midwesterners…..

    http://nydailynews.mycapture.com/mycapture/phot

  • lester

    WFC JPM dropping steeply

  • lester

    It appears that XOM is holding up SPY as the financials are tanking

  • itsgold

    Going short on SPG with June Puts. I think their run up is over.

  • BalaB

    http://docs.google.com/Doc?id=dfjr22bn_70jq9s3wgr

    More evidence being long E-minis is a poor choice.

  • BalaB

    LOLOL

  • BalaB

    ? Know idea…didn't see it on the Daily Show…
    “If John ain't saying it..I ain't seeing it”

  • Keirsten

    I'll have to go Google it.

  • isaiah64v4

    Should of bought her GOLD instead of shorting it!

  • lester

    thank you for clarifying …. now back to my day job

  • Autopsias

    Is it me seeing things with my big yellow Martian eyes or we could have a H/S forming today?

  • Blind_Squirrel

    Should see one more lift starting shortly

  • lester

    NOOOO

  • katzo7

    Points up anybody for my calls? Jeez, you guys are cheaper than mole. I still want to get that toaster oven.
    Need like 2000 more points.
    If you want the secret of how I can make these calls, S&P and I went across country last week in his '74 Volkswagon bus with a peace sticker on the back and dropped some acid. Hahahaha

    No, honestly, I know some kids from my high school and college that did that stuff, went into a hospital and never came out. Seriously!

  • annamall

    Its phenomenal!!! delicious! Some girl is going to be very very happy! πŸ™‚

  • Squidman

    H&S formations, along with indicators and logic, mean nothing anymore seemingly. Play the channels from hour to hour–that's about it. Oh, and get out before the Sachson's charge.

  • MyLifeMyTrade

    I am short.. but I agree we will see a lift. the move to the downside clearly lacked momentum… we just put in a higher low of the day.. ouch that might also mean a higher high .. lets see

  • MyLifeMyTrade

    SPG is going back to low 30's IMO

  • annamall

    Just got stopped out of AAPL calls.

  • TomOfTheNorth

    Speaking of The Dells, did you know that Lake Delton emptied last year? A storm caused the lake to overun its bank, blew out the berm and it all ran out into the river…..

  • lester

    I will give you credit for your calls. Are you staying short despite the fuckery?

  • katzo7

    yes, I defer to the 60 m. chart which says down.

  • lester

    I gotta stop looking at the 4 and 5 min. When you look at 60, how many days do you graph??

  • mikevadon

    Hedge fund world moving up nicely today. BX, GLG and FIG.

    http://www.mikevadon.blogspot.com

  • itsgold

    Dow is at support levels. Looking for a move up, but who knows.

  • katzo7

    No you should look at two or three, I use 3, 10, and 60 and look at day, week, and month every nite. Do your buys and sells, this is where EWs come in really well, off pivots on 3 min. chart but for longer range views chart the 10 and 60 min.

  • BalaB

    I think I remember seeing something…

  • BalaB

    LOL…I just went back and reviewed over night ES trading.
    Would you believe in the past six weeks, the 40% odds to go long level has been hit almost exclusively and consistently?

  • TomOfTheNorth

    Me likey

    +1

  • katzo7

    Found this off another site.
    Truth vs. spin?
    http://www.ritholtz.com/blog/2009/05/weak-impor

  • Douala

    Forgo to post this heads up earlier. This Dr McHugh [EW'er] …some of you may heard of of or read. Well today in his news letter he made this comment.

    “There was a relatively small change in the McClellan Oscillator Thursday, suggesting we could see a large price move either Friday or Monday. '

    Now I will give him credit on this and that is, every time he has seen these small changes in the McClellan Oscillator, it has been followed with a big move. Whether up or down we shall see.

  • LostIllini

    Dull day…. looking for May Day pictures…. All of them generally suck. So in the spirit of Friendship, Teamwork and Light Civic Competition I thought I would submit these instead because after all isn't that what it's all about?

    http://www.zimbio.com/pictures/mVzcsOBZTjh/Olym

  • TomOfTheNorth

    found your avatar @ the NY Daily News – interesting what you chose to crop ;->

    http://nydailynews.mycapture.com/mycapture/phot

  • MyLifeMyTrade

    I think we will see a big move towards the end of the day … And since the participation will be low since its going to be friday afternoon, they are going to jam this thing up big time…

  • molecool

    Is it me or are these candles getting worse? I just want this week to be over – seriously.

  • katzo7
  • katzo7

    Hahahaha.

  • katzo7

    You know where it is really from right?

  • LostIllini

    I wish that guy would just move out of his mom's basement and let me make some damn money….

  • lester

    I thought you have been saying down, and now you say UP?

  • katzo7

    Yeah.

  • Keirsten

    I'm just gonna go chase my dogs on the golf course for about 2 hours and hopefully come back to something a little more interesting in this stoopid market.

  • TomOfTheNorth

    The picture is titled NY by N by NW

    – love Hitchcock BTW

  • isaiah64v4

    Katzooooooooo

    that is twice in about as many weeks you posted Ezekiel 25:17…. I am curious why? Into wrath?

  • BalaB

    LOL..Shouldn't it be the opposite?

  • standard_and_poor

    We must of dropped the acid on the roadmap cause we've been lost since then.

    Just for that I'm playing you and the ladies (ladies night) some Dead
    http://www.youtube.com/watch?v=eUYcnZPRDWs

  • katzo7

    Noooooo, I never posted it before?

  • http://www.srsfinance.com SRSFinance

    I'm on the sidelines until we get a confident close above spx 875 (emphasis on confident) or a close below spx 850. This middle ground is just going to be whipsaw city I think.

  • standard_and_poor

    That word is trademarked, hope got permission from Bala.

  • BalaB

    Last thing then I'll close my BIG Obnoxious Mouth…

    Advancing Issues = 58%
    but
    Total Up Vol = 27%

  • jabber

    Mole, who are you kidding we all know you bought her a Lexus. Nevertheless you are probably still bleeding profusely because you got her the wrong color.

  • katzo7

    I think fall coming soon.But WTF do I know.

  • katzo7

    Hahahaha

  • annamall

    K-man I really like Barry. He is a no nonsense trader and tells it like it is. I also like Joe Batataglia as well.
    The stress test news is not going to be good. (or else they would screaming from the rafters)
    thanks for the article πŸ™‚

  • Squidman

    Yup, too easy not to lure in more bulltards. Should get nice and frothhhhhy!

  • annamall

    Nice as usual sweetie! πŸ™‚

  • annamall

    I second that! πŸ™‚ Hope you and Mrs Evil had a “fun birthday breakfast” πŸ˜‰

  • annamall

    would be more fun K! πŸ™‚ Did you ever get a look @ that rock?

  • thunda72

    Sure hope so…. sold some DRYS calls @ a nice gain (I'm telling you, the OTM Jan 2010 have been good to me, but will hold half of them for serious coin later) so I could pick up SPY May puts. It keeps bumping up against yesterday/today's falling channel.

  • MyLifeMyTrade

    I say what I see… Based on the action yesterday and the release of bank test results, I was looking for a gap down as follow up to yesterday and more sell off ahead of the bank stress test report.. The gap down did not happen and the stress test report has been pushed back to thursday … so, the premise of my down move hypothesis is no longer true… With lack of catalyst to either side.. usually the market moves in the direction of the trend, which is to the upside right now..

    ________________________________

  • LostIllini

    Lexus?????? No way my friend….. I'm thinking Mrs. Mole would be getting a fine German Automobile, like this…..

    http://jalopnik.com/5234135/german-tuning-shop-

  • Terrapin

    Sure hope so too. So far this has been as exciting as watching paint dry.

  • LostIllini

    Could get very ugly this afternoon for the bulls….

  • wengue

    SPX 60min chart: two well tested trendlines that will have to be broken before we get any decent pullback.

    http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0

  • alphahorn

    Lots of consolidating going on. SRS wants to break

  • katzo7

    Is that your pic? The avatar?

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

    Is it me or anyone else is looking at H&S pattern on ES?

  • Squidman

    Wow, that is a nugget. Why the 40%? Seems pretty clear that AH is where RL's have been working. So, maybe during corrections there is some sort of inverse relationship. Oh yeah, the pros work AH and the retail are mindless of them. Pretty simple.

  • BigHouse(Aka Mr Vix)

    Covered FAS short from 8.80 ..Long FAS at 8

  • rhae

    SPY 10m Not all of my whoreizontal R&S lines are the same strength cuz they are based on a buch of stuff… volume, gaps, indicators , look back peaks and valley's etc. and they do move intraday. cuz nothing stays the same…. at this time 86.55 is the strongest line on the chart… so I guess it might be considered a line in the sand for now… these strong skirmish lines often get a lot of sttttutter as bear and bulls send scouting parties back and forth probing for weakness… yup Art of War… Cowboys and Indians… we do have the battlefield map but can never be sure who might win? So we just bet the odds (imo)

    http://screencast.com/t/84vLxwJnpQ

  • http://esecfutures.com Vladz

    Hey Guys, check out BPNYA
    http://stockcharts.com/h-sc/ui?s=$BPNYA&p=D&yr=
    came within 0.02 cents of January high yesterday and will probably go above if we close positive today. As much as the trend is pointing up right now, this bullishness level is a tad “overbought”

  • thunda72

    No dude….. but I did have a pretty decent 'fro in high school. Which looked pretty funny on a skinny Peruvian kid. πŸ˜‰

  • MyLifeMyTrade

    In fact, I am starting to scale out of some of my short positions any move down…

    ________________________________

  • katzo7

    I cannot believe that TK was trying to steal you from mole's board. This stuff is ruthless.

  • Squidman

    I really wish I could figure how they push the tape while distributing. That would be a gold mine.

  • CowardlyLion

    Think that means losers are being sold with more conviction than winners are being bought.

  • thunda72

    A PTA??? Shit, are you serious?

  • annamall

    yes, I do .

  • Blind_Squirrel

    I prefer as you know Issaih Ch. 5 V. 20

    maintaining longs

  • LostIllini
  • BalaB

    I was just trying to find a comment “Master Shake” put forth on here a few weeks ago basically describing how the process is potentially done. Unfortunately, it would take too much time to go and find it but I'll try and do so over the wknd.

  • thunda72

    OK…. so I've added ATM SPY calls for maybe a quick scalp. I wish I had done it in reverse order. More careful attention to Zero would have been useful. I was too impatient, I guess.

    On a totally unrelated note: I'm SOOOOO psyched about the Sonic Youth tix I picked up yesterday for their Denver show. All tickets go on sale for the general public today on Ticketmaster, I beleive. They are the supreme rock-gods…

  • BalaB

    Granted I don't know much about the Quants and the internals of 2Sweeties algo. However, I would imagine Retracement Levels are effective because the same correlation must be recognized by a confluence of participants, otherwise they'd just get blown by. That being said, we've clearly noticed how much trouble the RL system has had lately because (IMO) of the lack of liquidity and a dissappearing act on behalf of the Quants.

    So, what I think is the rationale is: At night the auto-trade algos are turned on but take careful caution as to NOT hit a level that would be heavily interpreted as a pending reversal. 40% is below the odds of flipping a coin and thus is NOT an effective trading strategy.

  • molecool

    Okay, I just posted a little surprise for you guys.

    NEW POST!

  • molecool

    Great car but I think they need to get a new P.R. firm πŸ™‚

  • LuckyByChance

    Hey Mole you quote a lot from the “Art of War” you may want to read the “Book of Five Rings” written by a japanese samurai very interesting read in that genre

  • http://implicittrading.blogspot.com/ BalaB

    So far, the futures tape is very reminiscent of the recent past whipsaw days.

    and a Happy B-Day to Mrs. Evil. Good luck with that bottle of Old Spice..LOL

  • katzo7

    Nice call Blind Squirrel, run your stop up it's butt though.

  • Keirsten

    A WRENCH?!? ROFL. Happy Birthday Mrs. E.

  • Squidman

    Yeah, I'm about to give up on this tape. As Mole predicts, I expect the fuckery to begin soon.

    Hehehe, maybe thats a double entendre

  • LuckyByChance

    Hey Mole you often quote “The Art of War” I'd like to suggest another great read in that genre “The book of Five Rings” forgot the author is by a japanese Samurai is a great read

  • http://www.hotoptionbabe.com annamall

    Have fun Mole, and really give her what she really wants!! πŸ˜‰

  • BigHouse(Aka Mr Vix)

    Happy Birthday Mrs Evil.

    XLF weak compared with general market

  • katzo7

    Ohhh, you are bad.

  • mrclam

    anna, spot on again!(qcom) you really must be a clairvoyant of some sort πŸ™‚ i forgot how many contracts i traded, i think +2 -4 +2, lol.

  • Blind_Squirrel

    See how you have corrupted this
    sweet girl!!!!!

  • http://alphahorn.blogspot.com/ alphahorn

    short STLD @13.20, stop $13.55

  • http://implicittrading.blogspot.com/ BalaB

    Notice: YM, ES and NQ are getting bids at the very same time. The stinks to high heaven.
    Look at Zero if you need confirmation. There's no reason to be trading the Futures (intra-day) right now….IMO of course (which truth be told….I'm a complete screw up….so maybe you should source a more educated perspective..LOL)

    Momo indicators also do not show buying pressure.

  • lester

    Happy BDay to Mrs. Evil. I just bought my better half a birthday gift yesterday. I will not tell you what it was though…

  • Lori

    is it the classic Old Spice bottle?

    http://badgerandblade.com/gallery/displayimage….

    If so, I think I can guess exactly where she's going to shove it.

    Happy bday Mrs. E

  • http://www.hotoptionbabe.com annamall

    Its looking good so far. πŸ™‚ I did 10/20/10

    Just went long AAPL June calls 135 strike RS is good.

  • http://www.hotoptionbabe.com annamall

    Just honest! πŸ™‚

  • http://implicittrading.blogspot.com/ BalaB

    'entrendre” heheheehe…I had to look that one up……

    Snicker…I should have stayed in school…

  • http://www.genxantihero.blogspot.com LostIllini

    Bought a couple 86 Spy Puts as a quick scalp….

  • Guardian

    sounds more like what he wants,

    and your comment maybe what you want ????? πŸ™‚

  • http://www.hotoptionbabe.com annamall

    Keirsten, Did you see the diamond necklace Steve Wynnn bought for some lucky girl. looked like a 30K diamond!!!!!!!!!!

    Mole there's a gift to give to Mrs. Evil !!

  • Blind_Squirrel

    He'll get her a CZ replica with a fake certificate!!!

  • lester

    does Mole's yellow highlight at 86.4 mean that we could get there today? Of course we are now well out of the channel so I suppose that target is not valid…

  • http://evilspeculator.com molecool

    Was it long and cone shaped?

  • lester

    more like a mushroom

  • lilme

    Now stress tests being released on next Thursday, I guess Rahm got feedback overnight that to get the hysterical bulls wait an entire month might not be the best way to manipulate the markets. This contains full list:

    http://www.cnbc.com/id/30518465

    Mole, were you speaking in spy-speak about 'breakfast' with Mrs. Mole? I demand the menu.

  • anthem

    Hmm, very interesting. In the last half hour, SRS has walked up 0.50 while the SPY has gone up 6 points. Now, one isn't tied to the other, but usually when SRS is positive the market is heading down and vv. They are almost always counter to each other. . . Hmmm.. . .

  • Fujisan

    Happy Birthday Mrs. Evil. You are one lucky girl! (or should I say Mole is one lucky guy?)

  • http://www.hotoptionbabe.com annamall

    Ha ha ha….your'e smart!

  • lester

    I think SRS may be driven by SPG which is drooping

  • http://implicittrading.blogspot.com/ BalaB

    Lester…..uh, you may wanna see a doctor about that.

    I think the proper medical term is Chlymidya?
    LOL….j/k man

  • http://evilspeculator.com molecool

    No, these are support/resistance points – potential breaches as well. We are well above the channel right now, so maybe I caught the breach right there.

  • lilme
  • Blind_Squirrel

    Notice: YM, ES and NQ are getting bids at the very same time. The stinks to high heaven

    Zactly: Pump and Dump!!!

    Squirrel's pea brain don't know much, but he
    Knows Sol and Vinny!!!

    I also know Jack Schitt!!!

  • katzo7

    either it fails here or goes higher. duhhh katzo.
    i think fails.
    note, my 876 held so far

  • http://implicittrading.blogspot.com/ BalaB

    “Hey, should I be worried about blood leaking out my your eye sockets?” – Nah….I'm pretty sure that's normal.

    LOL

  • http://www.hotoptionbabe.com annamall

    Even a good CZ that size would cost allot. Did you see that thing? :-0

  • http://www.hotoptionbabe.com annamall

    me too, this is a snoozer. πŸ™‚

  • lester

    didn't congressman Alcee Hastings talk about that yesterday at the House?

  • Autopsias

    You earthlings give strange presents…

    We usually settle for a respectful kiss in the chick πŸ™‚

  • BigHouse(Aka Mr Vix)

    XLF turnign red here

  • lester

    fails would be good, I am trying to be patient

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    mole – tape it up & shake it off

    On a more serious note, the Administration came under some heavy criticism for Air Force One buzzing a workday lower Manhattan into a fearful frenzy. However, the temporary discomfort is more than offset by the stunning photo-op the moment presented. Here's my personal favorite – quite grand and reminiscent of Tommy Bartlett for you Midwesterners…..

    http://nydailynews.mycapture.com/mycapture/phot

  • lester

    WFC JPM dropping steeply

  • lester

    It appears that XOM is holding up SPY as the financials are tanking

  • itsgold

    Going short on SPG with June Puts. I think their run up is over.

  • http://implicittrading.blogspot.com/ BalaB

    http://docs.google.com/Doc?id=dfjr22bn_70jq9s3wgr

    More evidence being long E-minis is a poor choice.

  • http://implicittrading.blogspot.com/ BalaB

    LOLOL

  • http://implicittrading.blogspot.com/ BalaB

    ? Know idea…didn't see it on the Daily Show…
    “If John ain't saying it..I ain't seeing it”

  • Keirsten

    I'll have to go Google it.

  • isaiah64v4

    Should of bought her GOLD instead of shorting it!

  • lester

    thank you for clarifying …. now back to my day job

  • Autopsias

    Is it me seeing things with my big yellow Martian eyes or we could have a H/S forming today?

  • Blind_Squirrel

    Should see one more lift starting shortly

  • lester

    NOOOO

  • katzo7

    Points up anybody for my calls? Jeez, you guys are cheaper than mole. I still want to get that toaster oven.
    Need like 2000 more points.
    If you want the secret of how I can make these calls, S&P and I went across country last week in his '74 Volkswagon bus with a peace sticker on the back and dropped some acid. Hahahaha

    No, honestly, I know some kids from my high school and college that did that stuff, went into a hospital and never came out. Seriously!
    ***********************************
    Looking for a failure on the 3 m. of an EW4 down, hope she keeps on going.

  • http://www.hotoptionbabe.com annamall

    Its phenomenal!!! delicious! Some girl is going to be very very happy! πŸ™‚

  • Squidman

    H&S formations, along with indicators and logic, mean nothing anymore seemingly. Play the channels from hour to hour–that's about it. Oh, and get out before the Sachson's charge.

  • http://www.mylifemytrade.com MyLifeMyTrade

    I am short.. but I agree we will see a lift. the move to the downside clearly lacked momentum… we just put in a higher low of the day.. ouch that might also mean a higher high .. lets see

  • http://www.mylifemytrade.com MyLifeMyTrade

    SPG is going back to low 30's IMO

  • http://www.hotoptionbabe.com annamall

    Just got stopped out of AAPL calls. Added more ES shorts

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    Speaking of The Dells, did you know that Lake Delton emptied last year? A storm caused the lake to overun its bank, blew out the berm and it all ran out into the river…..

  • lester

    I will give you credit for your calls. Are you staying short despite the fuckery?

  • katzo7

    yes, I defer to the 60 m. chart which says down.

  • lester

    I gotta stop looking at the 4 and 5 min. When you look at 60, how many days do you graph??

  • Guest

    Hedge fund world moving up nicely today. BX, GLG and FIG.

    http://www.mikevadon.blogspot.com

  • itsgold

    Dow is at support levels. Looking for a move up, but who knows.

  • katzo7

    No you should look at two or three, I use 3, 10, and 60 and look at day, week, and month every nite. Do your buys and sells, this is where EWs come in really well, off pivots on 3 min. chart but for longer range views chart the 10 and 60 min.

  • http://implicittrading.blogspot.com/ BalaB

    I think I remember seeing something…

  • http://implicittrading.blogspot.com/ BalaB

    LOL…I just went back and reviewed over night ES trading.
    Would you believe in the past six weeks, 2Sweeites Retracement Levels' have hit the 40% go long odds almost exclusively and consistently?

    One could have made some nice coin just setting a buy order at wherever the 40% odds level was.

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    Me likey

    +1

  • katzo7

    Found this off another site.
    Truth vs. spin?
    http://www.ritholtz.com/blog/2009/05/weak-impor
    *******************************************************
    BTW, I think the truth about real direction is about to be unleashed.

  • Douala

    Forgot to post this heads up earlier. This Dr McHugh [EW'er] …some of you may heard of of or read. Well today in his news letter he made this comment.

    “There was a relatively small change in the McClellan Oscillator Thursday, suggesting we could see a large price move either Friday or Monday. '

    Now I will give him credit on this and that is, every time he has seen these small changes in the McClellan Oscillator, it has been followed with a big move. Whether up or down we shall see.

  • http://www.genxantihero.blogspot.com LostIllini

    Dull day…. looking for May Day pictures…. All of them generally suck. So in the spirit of Friendship, Teamwork and Light Civic Competition I thought I would submit these instead because after all isn't that what it's all about?

    http://www.zimbio.com/pictures/mVzcsOBZTjh/Olym

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    found your avatar @ the NY Daily News – interesting what you chose to crop ;->

    http://nydailynews.mycapture.com/mycapture/phot

  • http://www.mylifemytrade.com MyLifeMyTrade

    I think we will see a big move towards the end of the day … And since the participation will be low since its going to be friday afternoon, they are going to jam this thing up big time…

  • http://evilspeculator.com molecool

    Is it me or are these candles getting worse? I just want this week to be over – seriously.

  • katzo7
  • katzo7

    Hahahaha.

  • katzo7

    You know where it is really from right?

  • http://www.genxantihero.blogspot.com LostIllini

    I wish that guy would just move out of his mom's basement and let me make some damn money….

  • lester

    I thought you have been saying down, and now you say UP?

  • katzo7

    Yeah.

  • Keirsten

    I'm just gonna go chase my dogs on the golf course for about 2 hours and hopefully come back to something a little more interesting in this stoopid market.

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    The picture is titled NY by N by NW

    – love Hitchcock BTW

  • isaiah64v4

    Katzooooooooo

    that is twice in about as many weeks you posted Ezekiel 25:17…. I am curious why? Into wrath?

  • http://implicittrading.blogspot.com/ BalaB

    LOL..Shouldn't it be the opposite?
    i.e. The dogs be chasing you

  • standard_and_poor

    We must of dropped the acid on the roadmap cause we've been lost since then.

    Just for that I'm playing you and the ladies (ladies night) some Dead “Eyes Of The World”.
    http://www.youtube.com/watch?v=eUYcnZPRDWs

  • katzo7

    Noooooo, I never posted it before? Maybe you are confusing it with the sex in the park one? That one was great.

  • http://www.srsfinance.com SRSFinance

    I'm on the sidelines until we get a confident close above spx 875 (emphasis on confident) or a close below spx 850. This middle ground is just going to be whipsaw city I think.

  • standard_and_poor

    That word is trademarked, hope got permission from Bala.

  • http://implicittrading.blogspot.com/ BalaB

    Last thing then I'll close my BIG Obnoxious Mouth…

    Advancing Issues = 58%
    but
    Total Up Vol = 27%

    What am I missing?

  • jabber

    Mole, who are you kidding we all know you bought her a Lexus. Nevertheless you are probably still bleeding profusely because you got her the wrong color.

  • katzo7

    I think fall coming soon.But WTF do I know.

  • katzo7

    Hahahaha

  • http://www.hotoptionbabe.com annamall

    K-man I really like Barry. He is a no nonsense trader and tells it like it is. I also like Joe Batataglia as well.
    The stress test news is not going to be good. (or else they would screaming from the rafters)
    thanks for the article πŸ™‚

  • Squidman

    Yup, too easy not to lure in more bulltards. Should get nice and frothhhhhy!

  • http://www.hotoptionbabe.com annamall

    Nice as usual sweetie! πŸ™‚

  • http://www.hotoptionbabe.com annamall

    I second that! πŸ™‚ Hope you and Mrs Evil had a “fun birthday breakfast” πŸ˜‰

  • http://www.hotoptionbabe.com annamall

    would be more fun K! πŸ™‚ Did you ever get a look @ that rock?

  • thunda72

    Sure hope so…. sold some DRYS calls @ a nice gain (I'm telling you, the OTM Jan 2010 have been good to me, but will hold half of them for serious coin later) so I could pick up SPY May puts. It keeps bumping up against yesterday/today's falling channel.

  • http://www.mylifemytrade.com MyLifeMyTrade

    I say what I see… Based on the action yesterday and the release of bank test results, I was looking for a gap down as follow up to yesterday and more sell off ahead of the bank stress test report.. The gap down did not happen and the stress test report has been pushed back to thursday … so, the premise of my down move hypothesis is no longer true… With lack of catalyst to either side.. usually the market moves in the direction of the trend, which is to the upside right now..

    ________________________________

  • http://www.genxantihero.blogspot.com LostIllini

    Lexus?????? No way my friend….. I'm thinking Mrs. Mole would be getting a fine German Automobile, like this…..

    http://jalopnik.com/5234135/german-tuning-shop-

  • Terrapin

    Sure hope so too. So far this has been as exciting as watching paint dry.

  • http://www.genxantihero.blogspot.com LostIllini

    Could get very ugly this afternoon for the bulls….

  • wengue

    SPX 60min chart: two well tested trendlines that will have to be broken before we get any decent pullback.

    http://stockcharts.com/h-sc/ui?s=$SPX&p=60&yr=0

  • http://alphahorn.blogspot.com/ alphahorn

    Lots of consolidating going on. SRS wants to break

  • katzo7

    Is that your pic? The avatar?

  • http://www.tradingsign.com/ T. Waffle

    Is it me or anyone else is looking at H&S pattern on ES?

  • Squidman

    Wow, that is a nugget. Why the 40%? Seems pretty clear that AH is where RL's have been working. So, maybe during corrections there is some sort of inverse relationship. Oh yeah, the pros work AH and the retail are mindless of them. Pretty simple.

  • BigHouse(Aka Mr Vix)

    Covered FAS short from 8.80 ..Long FAS at 8

  • rhae

    SPY 10m Not all of my whoreizontal R&S lines are the same strength cuz they are based on a buch of stuff… volume, gaps, indicators , look back peaks and valley's etc. and they do move intraday. cuz nothing stays the same…. at this time 86.55 is the strongest line on the chart… so I guess it might be considered a line in the sand for now… these strong skirmish lines often get a lot of sttttutter as bear and bulls send scouting parties back and forth probing for weakness… yup Art of War… Cowboys and Indians… we do have the battlefield map but can never be sure who might win? So we just bet the odds (imo)

    note: I use 60m R&S lines on the 10m chart

    http://screencast.com/t/84vLxwJnpQ

  • http://esecfutures.com Vladz

    Hey Guys, check out BPNYA
    http://stockcharts.com/h-sc/ui?s=$BPNYA&p=D&yr=
    came within 0.02 cents of January high yesterday and will probably go above if we close positive today. As much as the trend is pointing up right now, this bullishness level is a tad “overbought”

  • thunda72

    No dude….. but I did have a pretty decent 'fro in high school. Which looked pretty funny on a skinny Peruvian kid. πŸ˜‰

  • http://www.mylifemytrade.com MyLifeMyTrade

    In fact, I am starting to scale out of some of my short positions any move down…

    ________________________________

  • katzo7

    I cannot believe that TK was trying to steal you from mole's board. This stuff is ruthless.

  • Squidman

    I really wish I could figure how they push the tape while distributing. That would be a gold mine.

  • CowardlyLion

    Think that means losers are being sold with more conviction than winners are being bought.

  • thunda72

    A PTA??? Shit, are you serious?

  • http://www.hotoptionbabe.com annamall

    yes, I do .

  • Blind_Squirrel

    I prefer as you know Issaih Ch. 5 V. 20

    maintaining longs

  • http://www.genxantihero.blogspot.com LostIllini
  • http://implicittrading.blogspot.com/ BalaB

    I was just trying to find a comment “Master Shake” put forth on here a few weeks ago basically describing how the process is potentially done. Unfortunately, it would take too much time to go and find it but I'll try and do so over the wknd.

  • thunda72

    OK…. so I've added ATM SPY calls for maybe a quick scalp. I wish I had done it in reverse order. More careful attention to Zero would have been useful. I was too impatient, I guess.

    On a totally unrelated note: I'm SOOOOO psyched about the Sonic Youth tix I picked up yesterday for their Denver show. All tickets go on sale for the general public today on Ticketmaster, I beleive. They are the supreme rock-gods…

  • http://implicittrading.blogspot.com/ BalaB

    Granted I don't know much about the Quants and the internals of 2Sweeties algo. However, I would imagine Retracement Levels are effective because the same correlation must be recognized by a confluence of participants, otherwise they'd just get blown by. That being said, we've clearly noticed how much trouble the RL system has had lately because (IMO) of the lack of liquidity and a dissappearing act on behalf of the Quants.

    So, what I think is the rationale is: At night the auto-trade algos are turned on but take careful caution as to NOT hit a level that would be heavily interpreted as a pending reversal. 40% is below the odds of flipping a coin and thus is NOT an effective trading strategy.

  • http://evilspeculator.com molecool

    Okay, I just posted a little surprise for you guys.

    NEW POST!

  • http://evilspeculator.com molecool

    Great car but I think they need to get a new P.R. firm πŸ™‚