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What The Dark Lord Giveth…
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What The Dark Lord Giveth…

What The Dark Lord Giveth…

by The MoleJuly 30, 2009

… the after hours session taketh away. As usual the futures are already creeping up overnight – is this crap EVER going to stop?

Technically we more than satisfied the criteria for a 5th wave today – especially after the weak EOD action it’s possible that we are finally ready to descend. I need to see that island top taken out asap however. The early morning spike also seems to fit that ‘blow off top’ I had been waiting for. I have heard reports that this was caused by a temporary faulty TRIN signal at a few data providers, but you’d think that an intelligent bot would realize that an instant drop from 100 to 0.8 is not a real signal (at least if I had programmed it). The signal variance is simply too wide and any bot that takes that trade should go back into QA immediately.

However, I wouldn’t put it past the bulltarts to make one last run for the coveted 1000 mark tomorrow – after all, it’s the end of the month and that would look mighty good on their books. The EOD drop today could have been just yet another fake out – it wouldn’t be the first time, right?

None of that however diminishes the fact that this rally is extremely long in the tooth and that cracks are appearing all over the place. Nothing – not even this Fed sponsored spike of death for the bears can keep running up forever. What goes up must come down – sooner or later – let’s hope it’s sooner as I would enjoy a few days of green for a change.

9:23pm EDT: I just went short EUR/USD at 1.4107 – might go to 1.415 but this seems like a good entry.

11:53pm EDT: Would you believe it? Karl ‘No Slave To Fashion’ Denninger actually got a question through to Ben ‘Astronaut Wings’ Bernanke:

Enjoy!

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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.
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