Now Reading
Thrashed
51

Thrashed

Thrashed

by The MoleDecember 16, 2014

I’m actually referring to myself although I could say the same about equities or crude this morning. That harmless little cold I was fighting over the weekend has somehow turned into some nasty super bug. Let’s just say that it wasn’t a fun night – I feel like I got hit by freight train.

2014-12-16_spoos_briefing

But enough about Mole’s trials and tribulations. Thor actually grabbed a short on the E-Mini two days ago – so far so good. As you can see the 25-hour SMA is now offering solid resistance and as long as we are painting lower highs and lower lows I would be very cautious about looking for a floor. The 100-day SMA is above us now and this could easily turn into a massive wipe out.

2014-12-16_EURUSD

There is a lot of fear in the market right now but I don’t see any good entry opportunities. It’s tempting to participate when things go volatile but I still need context to justify an entry. Equities and especially crude are in free fall right now – until a floor presents itself it’s best to let existing positions run but refrain from being lured into spurious entries. The Forex side is all over the place and most currencies are extremely volatile featuring long candles and fast retracements. This is not the type of tape you accumulate in – it’s when you let your existing positions run.

Catch you guys later.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Cheers,

Sign up here to receive my FREE early morning briefing:

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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator