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Erik’s In The House – And It’s Got A Roof!
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Erik’s In The House – And It’s Got A Roof!

by The MoleJuly 30, 2009

What really brightened my day was to see ErikD post again. For you noobs: Erik gained fame here a few months ago with his notorious roof top pattern calls. They just kept crawling out of the woodwork at that time. Didn’t always work out but the odds were definitely on this side in a majority of the cases. Then he suddenly disappeared and I was worried GS had taken him out with their black stealth ninja team. Good to see you back mate – don’t be a stranger 🙂

This is his chart, which I’m taking the liberty to post. Well, Erik couldn’t have picked a better time to show up and I really hope (for my own sake) that the roof top pattern works out again this time around.


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.

  • string01

    Roof top of death.

  • Douala
  • jamesmarkii

    well said kemosabe

  • ablebonus

    “What goes up must come down”…musical interlude….http://www.youtube.com/watch?v=qi9sLkyhhlE

  • LOONIE

    A few days ago, charles_smith also mentioned an indicator based on ROC second derivative, which indicates that the market should roll over.

  • fballislife

    Hi all! Ive been out for a bit but I am very interested in everyone's input….Best book(s) to read on TA…namely just the basics, Elliott Wave theory,etc.) I would like to narrow it down to the best two or three for now 🙂

  • http://zstock7.com/ zstock

    T short–( t-shirt) this is for Monday–
    I have to wait for 27.5,just to be safer
    http://zstock7.com/?p=1466&dsq=13699779#comment
    a couple of weeks ago I posted a buy VZ–that worked, so now looks like it's full cycle–and time to short these two–
    also–I have a tirade about people who go “long” on 2X etf's–
    I get along with the people who short them–because that means they are starting to understand the math–on these 2x etf's

  • molecool

    Ahem —————————————————————————–>>>>>>>>>>>

  • http://zstock7.com/ zstock

    If a stock goes down 50% and then comes up 50%–it only gets back to half of what it started out at–
    This is how going “long” on the 2x's etfs works–that's why it's better to short the opposite one—How come nobody gets this?

  • TRILES

    Take a lokk at your Slosh Report:

    That thing takes a precipitous drop in august to only 78 billion from the 250B it has been at in July.

  • Woolly Llama

    It seems that the leveraged ETFs have been hard to borrow lately

  • fballislife

    I don't want a sleep inducer….I want a spine-tingling thriller about technical analysis damn it!

  • Keirsten

    Is anyone else shorting USD/JPY here?

  • http://zstock7.com/ zstock

    then sell the call–these 2x etf's have a built in VIX type component designed for them to go to ZERO over time—I did the math–around 5 month's ago, way before FAS and FAZ went to zero–now the math is doing it to SRS,TWM

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

    the answer I'd like to know:
    “Why does Mole needs permission to see his wife?”

    [New post on my site]

  • http://esecfutures.com Vladz

    bears have a lot of work to do…. (as ES is back to the 3 week trendline )
    http://esecfutures.com/wp-content/uploads/2009/
    Highlighted support areas:
    – 980- retracement of this last run up
    – backtest of previous channel
    – s/r level and 200ema hourly
    – Major 956-957 level

    Cooked GDP will be the story tomorrow. Crappy earnings dont seem to bother futs just yet.

    Last day of the month tomorrow, should be fun

    Cheers

  • http://esecfutures.com Vladz

    Another interesting nugget
    the 1929-1930 equity rally lasted 147 days &was 46% The rally off the March 6th low this year has been 145 days and is 46%

    (this was as of this morning, so tomorrow will be day 147)

  • http://www.facebook.com/screasy v8muscle

    nah I think there is better R/R with the short euro/usd aka mole's trade.

    I honestly think USD/JPY might pop again

  • Keirsten

    It broke that TL on the 60 min. though. I'm in the green, just watching it. Waiting to get short EUR/USD. Actually, I'm supposed to be packing for a trip, but this is a lot of fun. LOL

  • http://www.facebook.com/screasy v8muscle

    yeah i saw that, its sitting on previous resistance, now support. I think USD will gain some strength here also.

    if you are thinking about taking a short in EUR/USD now is the chance http://screencast.com/t/yeTJmkf3

  • Keirsten

    Thanks for the chart V8. I'm just learning to navigate this thing, so…. 🙂

  • http://www.facebook.com/screasy v8muscle

    no problem! I'm still fairly new at this also so we're in this together lol

  • jamesmarkii
  • Keirsten

    Good, it's more fun that way. I covered btw on that pair, watching EUR/USD now.

  • Fujisan

    I'm watching 1.4155 – 50% fib and see if it reverses. It's right around R1 and it already closed above BB. It would be a good short entry.

  • AntG624

    Hmm.. is anyone considering QQQQ leaps? Seems like easy money with Q's at 50% retrace and $VIX being so low. Don't even have to worry about timing.

  • Fujisan

    I shorted in the morning (PST) when it was above BB. I just took half off and I'm going to take the remainder off at S1. I may go long at S1. We'll see.

  • BigHouse(Aka Mr Vix)

    New Post

  • 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„¸

  • BrassMonkyBalls

    Pussies? Meh…heres how we may be able to make some cash…

    http://www.youtube.com/watch?v=sWGuGolUB1k

    Obligatory chart….991 needs to hold for me

    http://screencast.com/t/N7yhc8gJ

  • devildowg

    Any thoughts on selling the pound – gpb/usd? Seems to be bouncing around in a 200 pip channel for ~week. At the moment 11:15 pm est, a 1.6515 entry waiting to fill. We'll see what happens. G/L tomorrow ya'll

  • string01

    Roof top of death.

  • Douala
  • http://bullorbearwhocares.blogspot.com/ jamesmarkii

    well said kemosabe

  • ablebonus

    “What goes up must come down”…musical interlude….http://www.youtube.com/watch?v=qi9sLkyhhlE

  • TSF

    A few days ago, charles_smith also mentioned an indicator based on ROC second derivative, which indicates that the market should roll over.

  • fballislife

    Hi all! Ive been out for a bit but I am very interested in everyone's input….Best book(s) to read on TA…namely just the basics, Elliott Wave theory,etc.) I would like to narrow it down to the best two or three for now 🙂

  • http://retracementlevels.zstock7.com/ zstock, Pro Select!

    T short–( t-shirt) this is for Monday–
    I have to wait for 27.5,just to be safer
    http://zstock7.com/?p=1466&dsq=13699779#comment
    a couple of weeks ago I posted a buy VZ–that worked, so now looks like it's full cycle–and time to short these two–
    also–I have a tirade about people who go “long” on 2X etf's–

  • http://evilspeculator.com molecool

    Ahem —————————————————————————–>>>>>>>>>>>

  • http://retracementlevels.zstock7.com/ zstock, Pro Select!

    If a stock goes down 50% and then comes up 50%–it only gets back to half of what it started out at–
    This is how going “long” on the 2x's etfs works–that's why it's better to short the opposite one—How come nobody gets this? Cause if they did—you'd never see ” Hey I went LONG such and suck 2x etf”

  • TRILES

    Take a lokk at your Slosh Report:

    That thing takes a precipitous drop in august to only 78 billion from the 250B it has been at in July.

  • Woolly Llama

    It seems that the leveraged ETFs have been hard to borrow lately

  • fballislife

    I don't want a sleep inducer….I want a spine-tingling thriller about technical analysis damn it!

  • Keirsten

    Is anyone else shorting USD/JPY here?

  • http://retracementlevels.zstock7.com/ zstock, Pro Select!

    -these 2x etf's have a built in VIX type component designed for them to go to ZERO over time—I did the math–around 5 month's ago, way before FAS and FAZ went to zero–now the math is doing it to SRS,TWM

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

    the answer I'd like to know:
    “Why does Mole needs permission to see his wife?”

    [New post on my site]

  • http://esecfutures.com Vladz

    bears have a lot of work to do…. (as ES is back to the 3 week trendline )
    http://esecfutures.com/wp-content/uploads/2009/
    Highlighted support areas:
    – 980- retracement of this last run up
    – backtest of previous channel
    – s/r level and 200ema hourly
    – Major 956-957 level

    Cooked GDP will be the story tomorrow. Crappy earnings dont seem to bother futs just yet.

    Last day of the month tomorrow, should be fun

    Cheers

  • http://esecfutures.com Vladz

    Another interesting nugget
    the 1929-1930 equity rally lasted 147 days &was 46% The rally off the March 6th low this year has been 145 days and is 46%

    (this was as of this morning, so tomorrow will be day 147)

  • http://www.facebook.com/screasy v8muscle

    nah I think there is better R/R with the short euro/usd aka mole's trade.

    I honestly think USD/JPY might pop again. I'm short eur/usd btw on this pop

  • Keirsten

    It broke that TL on the 60 min. though. I'm in the green, just watching it. Waiting to get short EUR/USD. Actually, I'm supposed to be packing for a trip, but this is a lot of fun. LOL

  • http://www.facebook.com/screasy v8muscle

    yeah i saw that, its sitting on previous resistance, now support. I think USD will gain some strength here also.

    if you are thinking about taking a short in EUR/USD now is the chance http://screencast.com/t/yeTJmkf3

  • Keirsten

    Thanks for the chart V8. I'm just learning to navigate this thing, so…. 🙂

  • http://www.facebook.com/screasy v8muscle

    no problem! I'm still fairly new at this also so we're in this together lol

  • http://bullorbearwhocares.blogspot.com/ jamesmarkii
  • Keirsten

    Good, it's more fun that way. I covered btw on that pair, watching EUR/USD now.

  • Fujisan

    I'm watching 1.4155 – 50% fib and see if it reverses. It's right around R1 and it already closed above BB. It would be a good short entry.

  • AntG624

    Hmm.. is anyone considering QQQQ leaps? Seems like easy money with Q's at 50% retrace and $VIX being so low. Don't even have to worry about timing.

  • Fujisan

    I shorted in the morning (PST) when it was above BB. I just took half off and I'm going to take the remainder off at S1. I may go long at S1 if S1 holds. We'll see.

  • BigHouse(Aka Mr Vix)

    New Post

  • http://evilspeculator.com 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„¸

  • BrassMonkyBalls

    Pussies? Meh…heres how we may be able to make some cash…

    http://www.youtube.com/watch?v=sWGuGolUB1k

    Obligatory chart….991 needs to hold for me

    http://screencast.com/t/N7yhc8gJ

  • devildowg

    Any thoughts on selling the pound – gpb/usd? Seems to be bouncing around in a 200 pip channel for ~week. At the moment 11:15 pm est, a 1.6515 entry waiting to fill. We'll see what happens. G/L tomorrow ya'll