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A Plan So Cunning
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A Plan So Cunning

by The MoleFebruary 10, 2017

As this trading week gradually draws to its end may I just pause for a moment and proclaim that I am pretty damn pleased with myself. And so should you incidentally, assuming you had the good sense to be trailing at least some of our campaigns over the past week. If you happen to be a subscriber in particular, and have been paying attention, then your account should be flashing solidly green this morning. Which incidentally should easily compensate you for another year of Evil Speculator goodness. Although that may be contradictory in theory we continue to make it work somehow. And why change when you’ve got a good thing going? 

2017-02-10_spoos_update

Alright before we get to the new goodies we have a few ongoing campaigns to attend to. Let’s start with the E-Mini which suddenly snapped into action yesterday and that means that we should now advance our trailing stop to near 2300. If you intend to trade this one as a LT campaign however you may be keeping a bit more distance. It’s possible that we’ll see a bit of a retracement today. If we do and my stop gets snagged then I may actually be looking for another entry opportunity next Monday.

2017-02-10_gold_update

Gold has been disappointing and much of our paper profits have evaporated overnight. However our current trail has not been triggered yet and I decided to leave it in place.

2017-02-10_ZB_update

Bonds also have been dropping quite a bit since Wednesday but my trail was still in place and I’m now advancing it a few ticks to below that big spike low near 150 and change.

2017-02-10_soybeans_update

Soybeans however is looking solid now and I’m pushing my trail to < 1044.75.

2017-02-10_ZM_update

Soybean Meal almost stopped us out and I’m particularly jazzed having avoided that nasty little stop runner. If you note on that hourly chart: the grains in general pull these stunts all the time as they are very small markets compared with for example the E-Mini or the bonds. So you always want to keep extra distance in the initial phases of our campaign as you will almost always see a shake out attempt just before it takes off without you. Speaking from experience here and obviously that lesson has been learned.

2017-02-10_USDJPY_watch

Now I just took a glance at the USD/JPY and hardly could contain my excitement for I have a I’ve got a plan so cunning, you could put a tail on it and call it weasel. Well, actually I’ve got two cunning plans but let’s not get ahead of ourselves. What you’re seeing on the hourly panel (left) right now is a textbook sideways pennant which I believe has a decent chance of resolving to the upside.

However, entering here will only send you into the woodshed for a special spanking. The trick for catching those slippery buggers is to always wait for the FU fake out move which invariably scares a bunch of pikes out of a perfectly good long position.

So what we’ll do instead is to wait for the drop and an ensuing spike low and then grab a long position with an ISL about the same distance away as the width of the last gyration higher. So concretely here this probably means a long somewhere near ~0.761 with a stop below 0.7570.

2017-02-10_cable_evil_plan_2

Alright, now to our second cunning plan: Cable is still flailing around like a limp noodle and I see a prime entry opportunity here if it graces us with a touch of 1.242. Which IMNSHO would be a great long opportunity with a stop below 1.23465 – or if you want to be clever you can put it below 1.23456 😉

Actually I didn’t pull that number out of my regal behind, turns out that 1.23465 is where we’ve got a daily NLSL and consider that a reasonable support zone as of now.

Of course I’m keeping a special goody for my intrepid subs:

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Words To The Wise

Contrary to my initial expectations I actually had a lot of fun this week as I very much enjoyed being able to plan and execute on several very promising campaigns and then successfully negotiate numerous shake out attempts via predefined campaign management. It is extremely rewarding to once again see our persistent nefarious efforts result into much ill gotten gains. Blackadder would be proud (and then try to steal it from us).

mauldonsblackadder-w150

Here’s me wishing you all a wonderful late winter weekend. When in doubt you may consider filling it with a high quality ale. Simple pleasures…

Prost!


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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