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The Games Continue
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The Games Continue

by The MoleJune 29, 2009

3:11pm EDT: While the Yen was busting higher today the ole’ buck took it up the rectum:

However, as long as we don’t breach that red line the bullish scenario is still in play – wish they wouldn’t tease it out so much but that’s the name of the game of course.

The 10-year treasuries are bouncing back nicely – as predicted a week ago.

Another perspective on this – the 10-year treasury yield (TNX) – we sliced through an important diagonal support line like butter and to my chagrin we didn’t get a retest (thus far). If we do I’d be shorter than a midget in a limbo contest.

And then here’s some spin on recent market manipulation – wake me up when they say something we don’t know yet. BTW, I love her accent – very sexy – what’s that, Aussie or Kiwi?


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.
  • molecool

    If you see this – share the love.

  • Fujisan

    Repost:

    Good catch, Mole! I'm long USD/JPY as well as GBP/JPY. They took off and possibly go much higher.

    As GBP/JPY has a very strong correlation to INDU, the chances are, the equity market will go higher as well.

    Remember, if SPY closes above 92.70 today, it will go to retest 96.11.

    Check SPY option open interest for July 95 – they are huge!

  • ropey

    Man this is tough, i cant see it yet fujisan, the OI for 90 puts is huge aswell…where do you think they'll pin for opex? i find it hard to see 94 or higher mid-july but what do i know!
    Speaking of pins, GOOG, did you put that BF on yet? :)

    t

  • annamall

    Hey Ropey
    I am trying to get on a BF on Goog right now, like the one Fujisan has

  • http://es seawolves

    were is rocco?

  • Fujisan

    My guess is SPY goes up to 95~96 by next Monday, and then comes down to expire around 90.

    I made a posting on my GOOG trade on my weekly post. Take a look.

  • annamall

    Hi sweetie, he is still not home :-( I am near tears, but trying to keep it together, thank you.

  • http://www.finz.tv/posse bhbgrouptrader

    sharing so much love that once AGAIN i was told to stay at the office!!!! others should do the same fyi!!!!

  • mrclam

    best of luck to you anna, hope he comes home :(

  • ropey

    Wowza, quite a range, trying to see what catalysts may cause that kind of volatility, they sure as hell need some IV back into this market, vix down to 25 blargh!

  • ropey

    Yep me too, i like the risk/reward – getting to the fun opx times again! :)

  • annamall

    Hi Clamman you know it 's so nice to see so many kind, warm hearted people who let me know they care! it means allot to me :-) Big hug

  • annamall

    sure is! :-)

  • Osso

    aapl is a tell….

  • Keirsten

    … still watching 92.68 on SPY- gap resistance now.

  • GDII

    my concern is both U/J and G/J are highly correlated to /es.
    feel the same as bet heavily on es long.
    i'd rather wait for further confirmation.

  • annamall

    I agree with that, looks like we may have topped out.

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

    there she goes, let's see if the bottom of the channel will stop it

  • nyxjf

    Why 92.7? Just trying to learn.. thanks!

  • katzo7

    Who just turned on the turbo?

  • annamall

    damn Alpha stopped it again!

  • ropey

    Turbo Timmy?

  • ropey

    We now have a new 9month low on the vix according to TOS…

    i am still building shorts….this cant continue indefinitely…

  • thelefteyeguy

    seriously…

  • annamall

    some jerk! LOL hi sweetheart!

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

    this is ridiculous, every trading day is ending at a major inflection point

  • springheel_jack

    If we don't fall tomorrow then Fujisan's scenario looks increasingly likely IMO.

  • Fujisan

    OMG! SPY closed exactly at 92.70!

  • Keirsten

    They were really battling it Fuji! What an ending. LOL

  • thelefteyeguy

    …this manipulation never gets old

  • springheel_jack

    Interestingly $TRANS closed down today.

  • Lordted

    I am waiting for the 61.8 fib – 926.90 ESU9

    Other than that Zzzzzzzz Good night America (Arod went through- lucky)

  • Fujisan

    That's the previous swing top. If SPY closed above the previous swing top, it will go to the next swing top, which is 96.11.

  • ropey

    yeah that is just a little FREAKY

  • Osso

    mkt. preparing the 930 test…..!!!!!

  • nyxjf

    thanks. Wow… Scary precision.

  • thelefteyeguy

    shouldn't be hard if there's not that many ppl trading…a few buys here and there….bam we're at 950

  • bizu

    thats Kiwi for sure :))) very sexy :)

  • Fujisan

    Good night, Lordted! I just love your avatar. Please keep posting until next Monday when Roger wins another trophy!

  • rhae

    SPY seems to be left dangling 92.63, lost track of how many times price swung thru it….

  • Osso

    dont think its going to be so fast. maybe a surprise down after testing 930.

  • thelefteyeguy

    sorry i was being sarcastic…

    have a great night guys/gals

    (hopefully a cat finds it's way home :))

  • Keirsten

    Oh, about 55,000 times in about 5 min. LOL Next resistance @ 92.80, only a dime away.

  • annamall

    Good night trophy winner! LOL

  • ausdude

    Looks like SPY closed out at $92.72.

  • annamall

    Big :-) for you ! thank you!

  • standard_and_poor

    Good day rats, everyone called for a top today except for a notable exception:
    Sir Callstopsalot who may now want to be referred to as Sir Selfrestraint.

  • 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„¸

  • Fujisan

    It's strange, but my daily candle shows a close at 92.70 and an hourly chart shows a close of 92.72.

  • standard_and_poor

    Extended Bowie (not for neophytes):
    http://www.youtube.com/watch?v=AEm09p61G0s

  • ausdude

    I have 92.72 on NinjaTrader with an Ameritrade feed. Regardless, it meets your criteria. Am I (well loaded on puts) going to be burned this week? Maybe, it is time to switch positions…

    How would you determine if this is a fakeout?

    Thanks, appreciate your posts and comments.

  • GDII

    agree. considering short week, window dressing blah blah, i will be surprised if spx cannot clear 930.
    if not, the chart will be extremely ugly. ppt people may not be able to have a nice long weekend 😛

  • pricey

    That is one good call Fujisan! Now we are in a pickle. lol

  • Fujisan

    I won't be able to tell whether is is a fakeout or not until it actually happens. If I simply follow the swing trade rule, it will go to the next swing top. If you are loaded with puts, be careful. Look for good long stocks to hedge your position or reduce your short exposures on its way up. It will eventually come back down (IMHO).

  • Lordted

    You are Sir Spinsalot !! and I claim my 5 Bucks

  • standard_and_poor

    I did say not for neophytes. Perhaps you would prefer payment in Pounds.

  • salvadorveiga

    who's rocco ?

  • zenith191

    The accent is Australian. I don't blame you for not knowing – only Aussies and Kiwis can tell the difference. Hell, I can't tell the difference between American and Canadian!

  • zenith191

    The accent is Australian. I don't blame you for not knowing – only Aussies and Kiwis can tell the difference. Hell, I can't tell the difference between American and Canadian!