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Flash Crashes
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Flash Crashes

Flash Crashes

by The MoleJuly 7, 2017

The Flash seems to have fun with his new TDA account this morning as I’m seeing very strange activity across the board. Although I never give much credence to the financial MSM attempting to explain the increasing amount of flash crashes we have been seeing lately, I was puzzled to see almost no mentioning of this. Perhaps this is the new normal we should expect during the late Asian trading hours? If so then it’s going to be one long hot summer…

 2017-07-07_silver

The most egregious example is silver which dropped all the way to 14.4 before rebounding back to 17.75. That’s almost a 9% drop and most certainly caused algos to go crazy all over the place. It’s a comparatively thin market and a fat finger is a possibility. But then again, this seems to be happening more and more frequently lately – I remember a recent one on June 26th.

2017-07-07_gold

In comparison the little wipeout in gold looks almost muted but if you took long positions here in anticipation of a double bottom then you’re probably not having a happy morning. No worries – I wasn’t 😉

In general it’s not looking good here for precious metals and those daily Bollingers are starting to point dow now which will facilitate any attempts to take them down. Apparently 2017 is going to be another painful year for the gold and silver bugs – somebody ought to put Jim Sinclair on suicide watch.

2017-07-07_eurusd

Also a bit of volatility over in the EUR/USD but given recent moves it’s more of a blip. That damn pair is on a veritable rampage right now as was to be expected as soon as it gapped to its upper 100-day Bollinger in late April. If you’re on the fence about signing up here at Evil Speculator then you may consider doing it now in order to grandfather-in (or is it grandperson-in now in PC speak?) a low subscription rate

2017-07-07_USDJPY_update

I continue to tighten up my trailing stop on the USD/JPY – seems like it’s now hitting escape velocity and we soon may see it near 115.

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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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