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Trashy Tuesday Rub Down
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Trashy Tuesday Rub Down

by The MoleJune 23, 2009

Okay, I tried to make this fun today and believe that I made a few good calls – but let’s not kid ourselves – today was painful – LOL :-)

No comment on this mess – I basically told everyone to sit it out and not get psyched out of existing positions. The good news: More pain tomorrow!!

Cheers,

Mole


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.
  • Count_de_Monee

    Well, couldn't help myself again. Shorted SPX at 897.20 and scalped some NQ.
    I'm thinking of holding my SPX and euro shorts overnight. The failure to close above 900 and the failed ramp up in the last 1/2 hour two days in a row has got to be scaring the bulls.

  • thelefteyeguy

    i obeyed…did make any trades today…no direction that was significant that told me this was heading up or down

  • springheel_jack

    I agree. I'm also positioned with ES & euro shorts & holding overnight.

  • molecool

    I actually was doing well with the futures in the morning but fortunately knew when to step aside.

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

    hmm, i had a great day

  • ckeltner

    Started scaling back into my vix 32.5 calls at eod.

  • http://dreadwinaard.livejournal.com dreadwin

    Staying in my SZCSI (Jul SPY put 87 strike) overnight, fingers crossed!

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

    i started the morning short and rotated long and rotated back short eod

  • divergence

    Well HK hit that target that I was looking for for two months. Pity I covered last Wed. @ close :( Left a lot of $$$ on table. XNG body slammed.

    http://www.screencast.com/users/divergence/fold

    http://www.screencast.com/users/divergence/fold

  • http://www.mylifemytrade.com MyLifeMyTrade

    Tape is going meander and go nowhere till Fed annoiuncement tomorrow… Do we see 880 after that or 915 is anybody's guess.

  • Keirsten

    GS Daily Chart:
    http://tinyurl.com/nem6kh'

    Going into tomorrow hedged to the hilt.

  • http://trading-to-win.com/ DavidDT

    Is Nurse Hatchet part of Evil services??? How much???

  • wilgu

    I noticed the curve flattened slightly for the past two days before the 5yr bond sale tomorrow -does anyone have thoughts on how the auction will go?
    It struck me as odd that the curve would flatten and the dollar would be down hard – I would have thought given the circumstances falling yields before a big auction would support the dollar?

  • divergence

    MyLife, is there an answer to the sequence on your avatar? Looks like an IQ test, but I can't imagine what the next symbol should be.

  • Eric_in_SFL

    /

  • lester

    where is everybody … I have been gone for two weeks? I come back and see no Katzo no V8muscle …

    I am not trading or investing now. I have no idea where things are going so SOH. Just wondered where everyone is…

  • http://www.mylifemytrade.com MyLifeMyTrade

    LOL – that is no sequence or test or whatever..

    It is just MLMT in the Wingdings or some such font in microsoft word…

    ________________________________

  • divergence

    Could very well be right. At least will a real test, we'd have some multiple chose answers to evaluate!

  • Iguanadon

    Without you here Lester, the regulars simply couldn't survive and they all walked into the ocean and ended their existence.

    Actually, it's been slow lately. Vacations, boring trading sessions last week. Yesterday was the only exciting day.

  • PRSGuitars

    Katzo just began his stint as an author on boston wealth management (where mortie is also a new contributor).

    v8muscle just began his masters in finance program at FSU (like, JUST began — moved in on Sunday/Monday, I think) and is getting settled, but I suspect he'll be back on a less frequent basis from now on. Last I spoke to him mid-last week, he was in the process of converting his account to trading forex (overnight trading, no daytrade restrictions, etc.) seeing as he won't be able to watch market hours nearly as closely.

    Everyone is either participating from last Monday onwards or, more likely, carefully watching any bounce to determine how shortable it may be.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Expecting more upside tomorrow before the downtrend resumes…
    http://tinyurl.com/mmp2gf

  • springheel_jack

    Thanks. Very interesting.

  • springheel_jack

    Hi Lester. Katzo's posting on http://www.acetraders.net mostly now. Also posting at:

    http://www.bostonwealth.net/author/katzo7/

  • springheel_jack

    Something to look at, but so obvious that it doesn't need a chart really.

    SPX daily has formed a clear left shoulder & head since the start of May. If we rally from here, or dip then rally, then that may form the right shoulder, which looks more than likely from here.

    If so, we may well rally into the 920s when the rally comes.

  • springheel_jack

    Not necessarily if the reason was a large increase in Fed purchases of long dated treasuries.

    Printing money isn't helping the USD, and won't flatten yields for long either as we have been seeing in recent months.

  • anotherone

    Looks ripe for shorting to me. I've put it on my hit list to consider first thing after the open tomorrow. Today's up move was contained within yesterdays red candle body. It closed just under the 20-day SMA, which has flattened. The bollinger bands have pinched and are flattening. And the volume on today's move up was less than yesterday's move down. I may very well short it depending on where it opens tomorrow. Probably buy Aug Puts.

  • PeterK80

    I apologize for the horrible charting software…

    I went long FAS this morning from the resistance line I posted last night…still think it has a little more room to run. http://screencast.com/t/Kuj56xrqG

    I went short oil towards the end of the day via DTO (2X inverse)… this is a USO chart though…. http://screencast.com/t/W81Iu3p0

  • http://www.rounderstrader.blogspot.com Rounders_trader

    Superb Job Evil thanks.
    My 2 cents.

    Spx close below 935 = 895.10(+2.06)
    Between range that I predict to very short term.
    Below 908 I expect [880,893] very short term.
    Below 935 I expect [790,820] medium term.
    Remember two possibles scenarios:
    Dont`t break range [880,893] and we will see pullback again target expect between [935,921].
    Break range [880,893] and we will see soon 850.

    If spx close hourly above 908 I have to reduce some shorts.
    Tomorrow resistance Hourly 908,900. Macd near to invert again but have to confirm with a close above 908.
    Click to zoom in.
    Enjoy
    http://followmarketrend.blogspot.com/2009/06/sp

  • rhae

    slightly OT, remember when I mentioned African Dust over the Atlantic having an effect on Hurricanes. This is what I had in mind…
    http://earthobservatory.nasa.gov:80/IOTD/view.p

  • http://anomalousmaterial.blogspot.com CastorTroy

    The easy path is down but don't discount the possibilities of a sharp bounce especially after the Fed tomorrow.

    http://anomalousmaterial.blogspot.com/2009/06/0

  • thunda72

    You're probably right… I'm holing onto my SPY puts, however, like grim death.

  • ropey

    there is an interesting major supporting trendline way below ~105 – i'm trying to picture in my head how that'll look and may well be possible in the long term – especially if Whitney is right about the banks earnings were artificially jacked up last quarter and wont be half as impressive from now on……
    With all the regulation going on or in theory soon to be going on, i wonder how much it'll curtail the profits…
    Still waiting for GS to have a decent dump as it's held up pretty well all things considered…may take a short on any further spike ups..

  • http://www.mylifemytrade.com MyLifeMyTrade

    Lester, I read this and thought of you. Read it … it is very encouraging and inspirational

    http://traderfeed.blogspot.com/2007/11/after-de

  • LostIllini

    Every time someone gets censored God drowns a bagful of kitties :0(

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    You should be in good shape

  • Peasant
  • ckeltner

    I would love to but the page isn't found

  • nummy

    linkage broken

  • thunda72

    The company I work for was sold a couple weeks ago. Good news is… I'm able to collect the full distribution from my 401k. Finally rolling the funds over to both Trad. IRA and Roth IRA. I'm so excited to finally have the freedom to do what I will with my funds!

    Basic strategies- 15-25% total going to option madness. The remainder going into long-term dividend plays and long-term LEAP deep ITM call options. i know…. we're in the time of the rapidly disappearing dividend, but there are still good ones out there. I'm going heavily into a couple plays: OLN and SQM. Others I'm looking at: KMP, ED, HUN, MAD. Green looks: APWR, BWEN, YGE.

    Feedback?

  • http://trading-to-win.com/ DavidDT

    The right question would be:
    “Would you buy this and WHEN?” (any trade without time component is …least to say..hmm…eh… – u got the point :)
    And if such question asked I will say – I will know sometime from 1 to 3 weeks from today – it might be a buy tomorrow or in 2 weeks – depending on how this chart will progress

    http://screencast.com/t/0z7VhD40e (3 days interval)

    as of now I would not touch it on any side – long or short

    Don't you guys ever take a break away from charts???

  • http://trading-to-win.com/ DavidDT

    (comment removed) – Funny how?

  • http://trading-to-win.com/ DavidDT

    (comment edited to fit time allotted and for linkage language)

  • http://www.mylifemytrade.com MyLifeMyTrade

    Ever wondered who MLMT is.. I wrote up couple of pages about my ups and down as an investor/trader. If curious, feel free to check it out

    http://mylifemytrade.com/mlmt.html

  • http://trading-to-win.com/ DavidDT

    will read before your link be gone

  • http://www.mylifemytrade.com MyLifeMyTrade

    David – you are very very smart… you are right in figuring out that the link will be gone soon… definitely within 24 hours.

    Yes, I should have added that the link will be gone by tomorrow. I have no qualms putting this up on my blog too.. some of my friends and family know about all this fiasco.. But the thing is that quite a few don’t know about it and it will just open up an unnecessary can of worms.

    I live in this community and am also posting trading ideas.. I feel that it is necessary for people to know enough about my trading background.. I know that inspite of all the disclaimers some fools will blindly follow the trades I post..

  • wex

    Mole,
    I noticed Moderators have edited some posts. Is there a new policy concerning non troll commentary? Katzo and others seem to have migrated elsewhere. For myself, I don't always get the opportunity to see the comments or posts in real time so I'm not certain what's up. I've always liked the banter has that been banned?

  • http://www.jackbridges.com rocker_jdb

    Talking my book here, but what the hell:

    Do you have any exposure to timber or timberland? If you've read any of Jeremy Grantham's writings on the subject, it's an asset class worth looking into– though, there aren't many options for simple common equity investors. Two names I own: KEWL & POPE. Both are undervalued (based on intrinsic measures of the timberland), small-cap stocks with illiquid floats. KEWL is/was involved in a proxy fight, and you could put in a bid in the $160-170 region to start a position, and get shares in a company that rejected a $220 tender offer in 2006. My family owns a large number of shares, and I wouldn't consider parting with them for anything under $300/share.

    POPE is a similar-styled timber company, in that it is sustainably managed (they cut less than 1/2 their annual growth). It has a 3.7% yield, and has been punished by its largest shareholder (Bruce Sherman) getting redeemed and having to sell into a thin market. At $22, it's about 10% above my cost-basis; under $20 I would add more to the position, and insiders have done the same whenever the chance arises.

    Again, part of the shorter term risk of owning equities like KEWL & POPE is their illiquid floats, higher beta, and lack of a large institutional ownership base. But, for long-term investors these risks are miniscule when investing in an asset class that is protected from inflation, whose commodity grows more scarce, and grows biologically more valuable every year.

    Anyway, best of luck with your accounts. It's certainly an exciting/volatile time to seek stable returns, that's for sure.

  • Peasant

    lol – i think it's fixed now. sorry bout that

  • http://trading-to-win.com/ DavidDT

    you are giving me more credits than I deserve
    judging by the way you write – you are from the country with manners – India?

  • http://trading-to-win.com/ DavidDT

    anyone seen Wex lately?

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

    I have very similar story but the time frame is from 2006 to 2009. I have great respect for you and I would say I am happy and proud that my friend has learned from his mistakes.

    Keep up the good work. I will send you an email tonight or tomorrow.

    Cheers!!

  • Peasant

    amazing imagery. I guess that means no hurricanes. Yay!!! More reason to short energy if we can get the dollar to behave.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Hi TW – thanks buddy, thanks for the kind words… how did your first day as a “full time trader” go?

  • http://trading-to-win.com/ DavidDT

    great fundamental observations…
    the only problem – if I will short 2000 shares tomorrow price will go to $2 – you are one brave soul – Lord have mercy on you :)

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

    The 1st day went as expecting. 1.4+ on TF and 3.0+ on NQ.

    I am looking for small targets and discipline trading. I am not looking become millionaire over night.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Sweet that is 200 bucks… that is a good start…

    No one ever became a millionaire overnight.. probably some who had several millions the previous night did become just a millionaire the next day.. but to start from a small networth and become a millionaire – it never happens overnight.. If it happens, then it goes away in a snap too.

    All good things in life take time, patience and effort… the story of hare and tortoise that we learnt in 1st grade is so true – slow and steady wins the race… very true in this world of trading…

    Check out http://traderfeed.blogspot.com –> amazing articles on trading and mindset….

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

    100% Agree with you. if you can control your emotions and follow your rules with discipline you can be a successful trader.

    I will check out that article tomorrow. Time for me to zzzzzzzz so see you tomorrow.

  • http://www.mylifemytrade.com MyLifeMyTrade

    You proved your smartness again – yes I am from India… I don’t know how much truth is there to “country with manners”. I am of the opinion that each country has their own manners, which are often perceived differently in other countries.

    About 4 years back, there was an article in a major US news paper (I forget which one) that the “rudest metro city in the world” is Bombay (now known as Mumbai). When I delved deeper, I found out that they marked Bombay down because people did not hold the door open for the person following them.. Well, that is regarded as a common courtesy in US, but not so in India.. I think every country and culture wants its people to show some basic courtesies and respect to other people… In India, when we go and meet our elders we touch their feet… But on the other hand, “Thank You” and “Sorry” were hardly used in the generation to which my parents belong. I will stop here before I go on a rambling spree… LOL

  • http://www.mylifemytrade.com MyLifeMyTrade

    Zzzzzz is equally important to trade successfully.. Good night. Second day of your beautiful life awaits you on the other side…

  • lilme

    Hello, you are brave to put this up and yes, it is pretty typical of beginning traders – I am only now starting to be more 'steady' in my trading – i.e. no 1000

  • http://trading-to-win.com/ DavidDT

    “that is regarded as a common courtesy in US, but not so in India.. “

    Nuh…
    We just afraid of lawsuits here…

  • http://elitetechcharts.com Beyond

    I would think as long as tomorrow opens below around 892 or so we can get one more down day before a weak bounce to about 905-908 or so.

    Charts: http://elitetechcharts.com

  • http://www.mylifemytrade.com MyLifeMyTrade

    LOL – Outside the context of what you said, people indeed are a lot more afraid of lawsuits here.. Not so in India.. in fact, in India it is the opposite – if some one threatens to go to the court, the other party would say “yeah.. right.. go ahead.. “

  • http://www.mylifemytrade.com MyLifeMyTrade

    Thanks.. what do you mean, when you say “no. 1000” ?

  • http://www.jackbridges.com rocker_jdb

    Funny, man. Not really looking to start a fundamental/technical pissing contest. FYI, I balance out all long exposure through index and other shorts, so I certainly see your point. But, if you've ever read Margin of Safety, or Graham & Dodd, I encourage you to short companies with almost no debt, trading for less than the standing timber on their land. These are not banks with fraudulent level III marks; they're not REITs with shrinking cap rates, and unsustainable debt loads.

    As a macro-trader, I short equities just about every day…timber stocks other than PCL, RYN, WY, no thanks. Still, if you like shorting equities where you have no liquidity at all (if you can even find a borrow), I think you'll need all the mercy you can get, David:)

  • KidDisco

    This is a nice story. I'd like to share mine:

    I bought FAZ and SRS thinking the market would correct in April. I lost half my money.
    Then in June, I started buying dips with FAS and URE.

    I'm still waiting for the market to come back to 930.

    Trial by fire indeed….

  • http://www.mylifemytrade.com MyLifeMyTrade

    TK put all his IRA.. I mean all 100% of it into penny stocks at the March bottom. I think that might be a good strategy whenever this entire bear mess bottoms.

  • http://www.mylifemytrade.com MyLifeMyTrade

    On a more serious note, I will recommend that do deep ITM calls only if you have done them before. They are pretty much like buying stock and if you happen to buy them at the time of high volatility like March bottom, it can turn out to be worse than buying stock. I haven't played them – so I dont know the reality of it.. What I said here is just from my *understanding*

  • http://www.mylifemytrade.com MyLifeMyTrade

    I think I shared this with you and will share again…

    FAS and URE and others leveraged ETFs.. once they move against you – get the hell out. Market might get back to 930… but your FAS and URE might not get back to where they were when market was at 930.

    Check out the article I wrote about the decay in leveraged ETFs.. and this decay is a lot more in URE and SRS.. http://www.mylifemytrade.com/2009/05/understand

    Check out Moo's blog – http://bluechipbulldog.blogspot.com – they day trade using 3x ETFs.. IMO that is the right way to trade these.. Their makers, Direxion etc say that they are meant to be daytrading and certainly not for extended hold.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Thanks for sharing.. I think Mole is going to hate me for posting that link because most of the chit chat here is now not trading related.. Sorry mole :(

  • Peasant

    I don't think too much is being edited out. If you are a regular who has an established history and has made contributions to the board you probably get some leeway for advertising your blog.

    I understand the notion of wanting to be heard. But I also understand why Mole is irritated by the folks that just drop by and plug their blog and contribute nothing to this site. It would irritate me too. If you want to share an idea or a chart put a link to it on screencast or jing. Establish some credibility with this board first.

    I don't know what happened to Katzo. Hopefully he'll return.

  • http://trading-to-win.com/ DavidDT

    That is why I admitted (no pun) “great fundamental observations…”

    But, for the sake of an argument, imagine 2 sole owners of clean company deciding to split and do it through the court – I doubt that solid fundamentals of the company will hold in such case…
    Again, I totally agree that there is less risk in totally “Street unpopular” company than in overhyped DECK (which is a bitch to short too due to low float and general insanity…at least one year ago…)

    P.S. “fraudulent level III ” – you cannot not to mark Level 2 as “not fraudulent” – I know, I've been there – right in the middle of FAS157 :)

  • KidDisco

    what can i say – i'm a masochist.

    i did cut out my 3X's today after a bloodbath yesterday. for some
    reason, i just couldn't pull the trigger and now am paying for it.

    live and learn….

  • thunda72

    I'm not that crazy!! I had been following Nova Biofuels during their descent into PinkSheets, did OK, but that's too risky for me. Thanks, for the info on ITM calls though. I wouldn't buy right at the most volatile, but when the Bollinger Bands contract a little to more normal constraints. As far as those calls, I'd go with oil and gas the service companies for them, mostly. I can see them really being much much higher in 16 months.

    Dividend stocks is where it's at though, long term. I'd have 50% in that.

  • lilme

    This is a trade I made – I was traveling in India last Sept-Oct, watching the hysteria on Indian financial news (which is great), BBC and CNN. – I placed a trade on the indices the day the US markets went up 10%, the monsoon rains meant that internet connections were very flaky and the next day I faced a large loss. I probably saved the cost of our trip by simply not trading during those months, but what a stupid idea to trade with lousy internet connections, and this was Delhi. Just a story of my learning to trade.

  • http://trading-to-win.com/ DavidDT

    started timer
    1,2…100…Mole???

  • rhae

    Going into FOMC, I am all short, which is an uncomfortable feeling for me… Just that my stops have not been hit. I usually pick up an opposite side hedge.
    FAST looks the most interesting to me… a horrible chart. lol
    Inside NR7 day, nice coil, narrow range days do not indicate direction, but with stochastic at 8, I would say oversold. Narrow range days do make stops easy, but 3 day average range stop has been working well. I trade light so a market stop at 31.51
    My statisical anaylsis says do for some uppy.
    Will I take the trade? Maybe, but not an aggresive entry because the close today was below the open, even tho it closed in the green.

    whatever you play do you own dd, imo

  • http://www.mylifemytrade.com MyLifeMyTrade

    References to TK's portfolio was me just trying to put on a funny hat..

    On a more serious note, TK's community is into UNG these days – and there are mixed views .. some say it is buy of the year or buy of the life time to get into UNG at these prices.. I don’t know.. I am not playing it either way.

  • thunda72

    Yeah… you've got to get out of those quick. I've learned the hard way, too, during this extended 'rally'. I held FAS puts 2 or 3 days too many and really took a big hit. I' don't trade them now without 'planning the trade' and putting stops in. Stops are your friends here….

  • Peasant

    From July 11th till now, there have been 3 waves. Were those three waves an ABC correction? or are we in 3 of 5 of an impulse wave down? I don't know what comes of tomorrow but I expect the Fed minutes to undermine the dollar which would be a plus to at least some of the equities market.

  • http://www.flickr.com/photos/8258970@N03/ chaunceyherbie

    Mole,
    I've posted a chart and my $0.02 analysis on the $SPX PNF POTENTIAL SUPPORT/RESISTANCE LEVELS, SMAs, GAPS and FIBS:

    http://www.flickr.com/photos/8258970@N03/

    Click on chart; then double click on All Sizes zoom magnifier.

    Good luck tomorrow.

  • thunda72

    I thought so too, but recently read an article pointing out the flaws with the UNG ETF. There's a gas services ETF that might work better. If I find the article I will post. It def. made me think twice before sinking into UNG.

  • http://thehousingtimebomb.blogspot.com/ Jeff@THTB

    rhae

    Good luck.

    I am hedged to the short side as well. Its all about the FOMC tomorrow.

    Tough market with the dollar flying all over the place. I could see a sell off if the FED doesn't show some discipline tomorrow.

    Do we bounce off 880 or blow right through it. I am afraid if that doesn't hold the bulls will be quick to sell and we could blow through it like butter.

  • amgrant

    Alrighty then!

    Three independent and objective reasons why I think we go down to ES 875 and rally for a few weeks.

    http://www.ambgtrading.com/2009/06/high-probabi

    Giddee up.

  • Peasant

    I closed some of my shorts today and hedged about half the rest via PAAS, AGU, and that GD AAPL. EIA will release their weekly energy report tomorrow a.m. as well so keeping an eye on that sector although it's more about the dollar than it is supply and demand. Good luck to you however you play it.

  • http://www.jackbridges.com rocker_jdb

    D, Not sure I understand your argument of “2 sole owners of clean company deciding to split.” Do you mean court, as in bankruptcy? In the case of the companies I mentioned, they're are audited, managed hard-assets with observable market prices. 152,000 acres of Nothern Hardwood timber, 20% sawtimber, 80% pulpwood, approximately 18 years into a 25-year growth cycle. My father started buying said company in the low $20s; it now trades at $180. If you can show me a more stable, conservative asset than timberland, I'm all ears. One can argue about an endowment-chasing-timberland asset bubble, but that's for another evening:)

    Anyway, if we both found Mole's bit of cyberspace and trade the Zero, we speak the same language– that's good enough for me. Have a great night, D.

    J

  • wex

    Not sure anyone would care that much. I'm not adept enough at TA to be much
    use on posts.

  • anotherone

    My hit list for tomorrow.

    BNI – sitting just under resistance at 73.14, also just under 20-day and 200-day SMA. buying puts with failure on a break of 73.20 or so.

    EOG – depending on where it opens, might buy puts. just under it's 50-day and 200-day SMA and a trend line drawn from the Mar low. bottom BB is falling away from price. profit target would be at 61 or so. failure at 69 or so.

    GS – looks ripe for shorting. BB's have pinched and today's pull back was contained inside yesterday's down candle body. also closed today just under the 20-day SMA. failure would be above 142 or so.

    PG – possible long. sitting just above some serious support.

    Take all that with a block of salt.

  • thunda72

    Here's that article MLMT:
    http://www.thestreet.com/_yahoo/story/10518092/

    Interesting read, but then again, here's another I just found for the opposing POV (although they're not talking about long-term,k i think):
    http://finance.yahoo.com/news/US-Natural-Gas-ET

  • wex

    Got it. He had been more tolerant in the past. Perhaps the criticism of his
    systems pissed him off. People were looking for perfection. Katzo had a tiff
    with Mole and got temperamental.

  • http://www.mylifemytrade.com MyLifeMyTrade

    Thanks buddy – I will look into both :-)

  • http://www.pacfreehotwater.com steveo77

    Tuition is expensive–been there done that.

  • molecool

    Nice P&F – thanks!

    BTW, get yourself jing and make your life easier (jingproject.com)

  • molecool

    “Mole is irritated by the folks that just drop by and plug their blog and contribute nothing to this site.”

    Exactly – this is not a free advertising blog. If you come here and contribute you get leeway – if I never see you here except for your blog announcement you will be man handled. If some gentle souls don't like it – I don't care – move on – this is EvilSpeculator and I don't care what anyone else is doing. My house – my rules.

  • http://www.pacfreehotwater.com steveo77

    KD, one last thought occurred to me.
    You never “get money back”. If you have lost it in trades, it is truly gone. You cannot get it back. To be not so humble….get that thought out of your head.

    If you are taking a drawdown, reduce your position sizes, and earn your money the old fashioned way….earn it, by trading smart and be willing to accept small losses. Your biggest leap that you will need to take is a foolish pride in laking a loss. Suck it up. And move on and find the next good long or short. But when your trade setup is there, staring at you, you can't be afraid to pull the trigger.

    I poke fun at revenge trading…I think it is human nature. But get over it, don't revenge trade a stock….Spg is my nemeisis, even though TK appears to want to short it, I will leave it alone. Out.

  • molecool

    I didn't have a 'tiff' with Katzo – I told him to reduce the 'noise' after many regulars complained. He wasn't able to take criticism like a man so he moved on. Again, I'm here to bank coin and help other to do the same – nothing else matters to me.

    Once we are knee deep in a fucking depression after you and your spouse both lost your job and have nothing in the fridge to sink your teeth in you might regret spending half your trading day reading dozens of Katzo's mental masturbations over the past few months. We should all be focused on securing our future and that of our family – a lot is at stake – anyone who gets in the way of doing that gets nuked.

    I have zero patience for children and drama around here. Next….

  • PRSGuitars

    Would you mind elaborating on the last bit of the 2nd paragraph — how do you plan on accomplishing securing one's future, one's family's safety?

    Something like the preservation of current assets, escape from any and all debt possible, akin to Denninger's “Ten Things” post from a few weeks back? (link: http://market-ticker.denninger.net/archives/109…)

    Thanks for being so vigilant in every respect. The tenacity is what keeps us coming back for more.

  • molecool

    Help everyone make a shit load of money by the end of this year? Yeah, that about covers it.

  • molecool

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  • http://www.flickr.com/photos/8258970@N03/ chaunceyherbie

    Thanks, Mole.

    Been out of the loop lately. LOL at the “skank” comment…….oh how so true it is.

  • http://www.pacfreehotwater.com steveo77

    Thanks for sharing your experience.

    My wife used to work for a closed end fund and they also had some mutual and hedge. One of the guys got laid off, and he decided to try his living as a trader on his own.

    Besides the chaotic market of 2008 2009, andstress of supporting a wife and baby. He took risks, losses, and then bigger risks to make up for the losses. He took substantial losses, and finally….was able to find work in a tough environment….

  • http://www.mylifemytrade.com MyLifeMyTrade

    One of my biggest follies was taking bigger risks to come out of losses.. this is what dictionary definition of insanity is “doing the same thing and hoping for a different outcome”

  • http://www.pacfreehotwater.com steveo77

    I thought that was Einstein…. :)

  • http://www.mylifemytrade.com MyLifeMyTrade

    You are right.. that was Einstein.. Thanks for catching that :-)

  • http://trading-to-win.com/ DavidDT

    Yeah, I have one…
    I asked about Nurse Hutc…whatever her name was…

  • http://elitetechcharts.com Beyond

    yeah I'm mixed myself, my 15 minute and 60 minutes are giving me different signals

  • http://trading-to-win.blogspot.com/ DavidDT

    Yeah, I have one…
    I asked about Nurse Hutc…whatever her name was…

  • http://elitetechcharts.com Beyond

    yeah I'm mixed myself, my 15 minute and 60 minutes are giving me different signals