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A Sucker Born Every Minute
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A Sucker Born Every Minute

by The MoleApril 5, 2018

Okay this is going to be a bit of an angry post but if you humor me for a moment I promise that your take away will be a few giggles plus maybe a valuable epiphany serving you well for the remainder of your existence on this mortal coil.

And this not just for when it comes to trading the financial markets, but in your private sphere as well. So do I have your full and undivided attention? Then read on:

Still here? Alright, do me a favor: grab a thick black pen and a piece of paper (no post-its please) and then write down the following statement in big fat letters:

99% of the news are complete junk and an utter waste of my time. The remaining 1% are just boring.

That’s it. A very simple claim that we’re going to field test right away against some of the headlines in the financial MSM. Now try to control your gag reflex please as we’re going to have to go slumming over at ZeroEdge to harvest some of that low hanging clickbait:

Taking it from the top: ‘Global Stocks Rebound As Trade War Fears Ease‘. Okay, so when exactly did those purported trade war fears ease again and why didn’t they ease on Wednesday, Tuesday, Monday, or sometime back last week? Do they have some kind of trade war fear gauge in their office?

This is the type of lingo you will find over and over again in the financial media and basically translates as ‘Global Stocks Rebound For No Particular Reason Trapping Hobby Bears Into A Short Squeeze‘. There – fixed it for you – you’re welcome.

I would usually shake my head and quietly mutter something along the lines of ‘correlation does not equal causation’, but that wouldn’t even be appropriate as there is no apparent causality linking yesterday’s punch higher with a statistically viable measure of ‘trade war fears’ – whatever that may be in the first place.

Quite frankly I don’t give a flying fart about Chinese steel imports or a markup on massively overpriced German status symbols on wheels – and neither do most of the people I talk to. Now if they were trying to raise imports on Bentleys or Aston Martins then I may actually give a damn.

Besides Chinese steel is notoriously bad and German cars stopped being reliable or cool about the time when Merkel took over and switched the country from nuclear power to hamsters on steroids running on treadmills. Moving on…

Here’s the next jewel courtesy of ZeroEdge: ‘Yesterday’s Rally Was One Giant Short Squeeze, More Pain Is Coming‘. Well, hooray – alert the media! (too late) I was wondering why prices kept going up yesterday and I swear a short squeeze had never once entered my mind. I am truly flabbergasted by the level of analytical acumen expressed here. And by the way, what is a ‘Blain’ and where do I get one?

But let’s dip a little deeper here, the frothy sewage floating just below the trite headline. ‘Low volume is a clear signal that buyers are not utterly convinced’. Seriously? Is THAT why prices kept going up all session via the express elevator – because buyers weren’t ‘convinced’?

Many of us here have watched participation signals on the Zero for nearly a decade now and I cannot count how many times we have seen extended low volume or low participation short squeezes right after the tape pretended it was ready to plunge into the abyss.

Once again we are handed ‘information’ (and I’m being polite here) that on the surface may appear perfectly plausible to perhaps a half starved brain washed North Korean dripping wet after swimming across the Tumen river into China. But it doesn’t hold water to the stark reality of 21st century trading, which regularly bestows us with low participation melt since about 2009 when the Fed took the gloves off and started pumping unlimited liquidity.

So if the market for some reason takes a tumble today or tomorrow then it has absolutely nothing to do with low trading volume, but with the fact that the medium to long term trend has been degrading for weeks, even months, now and that the potential of a large market correction has been in the mind of participants for at least that long. Jittery investors produce jittery tape, simple.

Plus there are the host of technicals I post here on a daily basis but that would make for pretty boring clickbait, wouldn’t it now?

Alright, it seems like Boomberg wants a piece of that juicy perma-bear traffic that ZeroEdge has been sucking in for the past decade now. Be sure to pay attention to the same verbal recipe employed here: Market X does Y as Z happens. They don’t say Market X does Y because Z happens – that would actually be a conclusive correlation and make them look like idiots (too late).

It’s like me saying ‘Wooffy The Dog Licks His Balls As Jerome Powell Delivers Fed Minutes’. Does that mean that our esteemed Fed chairmen somehow induces a ball licking urge in Wooffy the dog? Let’s hope not but reading that headline it would be easy to come to that conclusion, woudn’t it?

Now this sort of info excrement has been pumped out by the gallons by billion Dollar financial media corporations on a daily basis for many decades now while millions of gullible readers gobble it up like manna from heaven thinking that it actually offers them an informed advantage when it comes to trading the markets.

With predictable results I may add. To put it in the words of the inimitable W.C. Fields: ‘There’s a sucker born every minute.

So remember that note I had you write at the beginning of this post? Have it framed and pin it onto your wall right above your trading workstation. You’ll thank me later and if nothing else you’ll save wasting a hell of a lot of time on what is infotainment at beast and vapid misleading clickbait at worst catered to the gullible disciples of the dying religious cult that is the financial mainstream media.


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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

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  • BobbyLow

    Excellent!

    To sum it up in a nutshell the reasons why the markets go up is because there were more buyers than sellers or it goes down because there was more sellers than buyers. On the subject of volume, any postion that I have doesn;t care if it makes money on low volume or high volume. OTOH, if my position loses money, the pain is not reduced because it went down on low volume.

    I do try to avoid all financial news with the only exception of every once in awhile getting a chuckle or two at some of the explanations as to why the market did something.

    It has been 8 years, 7 months, 16 days and 12 Hours since my last visit to CNBC or Bloomberg. . . One day at a time. . .:)

  • Mary

    If they would stick to who, what, where, and when and leave out how and why then they would (possibly) provide a valuable service.

    It is not just the financial urinalists either.

    For the most part we get no news, only opinion pawned off as news. No wonder there are so may morons floating around.

  • HD

    Nice blog Mole. Agree that many look at sensational headlines, zerohedge etc, and agree that has minimal impact on markets but the other news* that came out yesterday historically is a market mover.
    https://www.adpemploymentreport.com/2018/March/NER/NER-March-2018.aspx

  • ridingwaves

    I have to disagree a little, news matter in sectors not the market….If a symbol gets a orphan drug status per FDA, that symbol is going to be played hard, why, the company has a potential revenue stream now attached to it at accelerated rate….many other examples….but I get the gist of what your saying Mole…

  • BobbyLow

    Good point.

  • ridingwaves

    Bulls need to extend this sucker or we may get bull trap….where is my lobster trap is all I want to know…if this ends up doji per previous example….the following day candle is not friendly… https://uploads.disquscdn.com/images/2754a20361feadb5661ba81ad7b0639d4166c909e823aee2bd38a874ccdcb58a.png

  • Tomcat

    I think what most would agree, is that “real news” matter, interpretation of the news which is what you get from the MSM is useless…

  • ridingwaves

    usually my points are pretty dull….:)

  • ridingwaves

    XLF is painting a star candle today….lots of folks seem to bought into financials last 2 days….

  • Mary

    Thank you. I couldn’t have said it better.

  • Tomcat

    I actually think, you said it better than me.

  • Darrell Osgood

    Traditionally, a news organization had a news room which did investigative reporting of facts and an editorial room where people with decent writing skills tried to persuade the world to their way of thinking. The editor-in-chief was over both, but spent most of his time with the news room. After WWII, the editors-in-chief at NY Times and WaPo and various 2nd tier outlets decided to use their good reputations to remake their world in their idealistic image. The age of “idealistic journalism” was born wherein the editorial room took the driver’s seat. Response to emotional writing of “news” was very positive, meaning people gobbled it up. The money rolled in, the owners were ecstatic, and neutral investigative journalism diminished greatly. Editorializing masquerades as news. Mole is railing against that. ridingwaves is referring to actual, unbiased, fact infused news. Two different beasts, but most of us don’t recognize the difference.
    BTW, I’m reading Win Bigly right now. Interesting read on how Trump manipulates the media to talk about what he wants them to talk about. When you are in marketing, all news is good news, even if Joy Behar is wetting her pants over every tweet and vilifying Trump.

  • HD

    $SPX rallied (89), just like last week. Worth a S

  • HD
  • Mary

    Teamwork!

  • Edgy

    Bravo, Mole! I have the same thoughts when I read financial headlines. “Really, today was a 100+ handle on ES because of this one thing that’s been in the news for weeks already?”
    And as for low volume, I see that and remember another time where Mole defined that as “the Bull Bus left empty”, and nothing else.
    News headlines annoy me a lot. Someone who likely doesn’t trade is going to have an explanation as to why a morning rip stalled at 12:30? And the article, which is discussing events from 10 minutes ago, is written in historical context as though you could just copy/paste it right into the archives of our generation.
    Ok, enough of my #metoo moment. Thanks for letting me borrow the soap box.
    And I swear I only read ZeroEdge for the centerfolds!

  • http://www.captainboom.com/ captainboom

    Mole, I believe that quote re: a sucker born every minute is usually attributed to P.T. Barnum, but that paragon of news sources, Wikipedia, states that it’s actually uncertain. Has a decent writeup.

    https://en.wikipedia.org/wiki/There%27s_a_sucker_born_every_minute

  • Mary

    Wikipedia isn’t a news source. Anyone can make entries.

  • https://evilspeculator.com Sir Mole III

    I know and even with him they debate it. Doesn’t really matter though – I learned it from W.C. Fields πŸ™‚

  • Brishort

    Interesting juncture reading the tape:

    This morning strong zero signal should have lifted the market, but instead it seems to have just frightened participation at this point. Everything short term (i.e. 15 min charts and less) is triangulating or wedging.

    Energy is being accumulated. The breakout should have some legs for a few handles. Next few bars should become interesting.

  • Brishort
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Yesterday was fun.
    But you are only as good as your next trade.

    HYG,
    needs to get a move on. There’s some room for play in the oval area.
    https://uploads.disquscdn.com/images/041999fad3c44debe1f340a4d1e53e6c7ca7b27c873ab351ca11c9e15526b640.png

  • Tomcat

    So no PT?

  • Trouzzer_Snake

    Well I might be a sucker b/c I’m short…again. My mind is screaming don’t do it but the charts say short so that’s what I’m doing.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Charts are not always 100%, but your discipline can be.
    good job. My best trades start out like this.

  • ridingwaves

    a little bit more and I have to try again…S near green bar, bid is in…
    https://uploads.disquscdn.com/images/2dfd1b98d277388c7bdb93b1e1bcb1c30bb66376ff2b3073e5e6e46d0a3efaae.png

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    there might be some fudge factor. check out the spike low on Feb 12?
    S a little higher than the green line. if you must.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Good. you brought the bagels.
    πŸ˜‰

  • Trouzzer_Snake

    Thanks!

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    follow that plan. if it doesn’t do what you think, eject.
    whatever you do, don’t DOUBLE DOWN.
    -my three grams

  • BKXtoZERO

    L TVIX 9.46 0.5R

  • Brishort

    PT? The key here is therefore around 6885, we have the market message of a temporary at least low. This is less than 1% away. Everything in between 6885 & 6327 (basically yesterday’s low even if many % away!!!) is basically Fu**ing with traders and requires a different type of nimbleness.

  • BKXtoZERO

    no… hanging in there

  • Brishort

    I am trying to find a reliable screenshot to post a few more charts more often. Jing crashes my computer after every single screencapture, extremely annoying. Unsure why, but it clearly hates 4K screens.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    I was about to say, gutsy, looks like it’s going to wet the bed.

    then again..RSI support.
    https://uploads.disquscdn.com/images/b5224c8e0b32add6cce47802619489361feb1364985394f12f6d5ba713f0f984.png

  • ridingwaves

    I took it just now 9.42

  • ridingwaves
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BKXtoZERO
  • Brishort

    A lot of Zero energy was just spent to go nowhere real in points term. Not sure yet what it means yet, but seems to have found more supply than lack of at the moment.

    Either it’s working the supply and then it’s take off, or the supply is much bigger than expected at this level. Impossible to tell, but the zero is clearly reacting strongly, so time to pay very close attention, I much better like days with the Zero reacting than the opposite as we had yesterday. Makes for a better lighthouse.

    On the watch therefore for any divergence worth trading. Mole don’t hesitate to light up the lighthouse if you see something first!

  • Brishort

    Maybe not tech support, but you exactly nailed my problem with Jing.. 8-P
    I found ShareX to try, difficult to find more feature full and opensource!

    https://github.com/ShareX/ShareX/releases/tag/v12.1.1

  • ridingwaves

    got a fill at 299.91

  • ridingwaves

    4% move in XLF in less than 6 trading hours…

  • https://evilspeculator.com Sir Mole III

    Strange – I don’t like SnagIt very much. Jing still works well for me after all those years. Same company I think though.

  • BKXtoZERO

    Mole nice post. A lot of times I look at a news site but I don’t read the articles. I only read the headlines just to see what kind of crap they are saying. They know that most have a short attention span and jam their thoughts into the headlines anyway. Every now and then, I even look at CNN just to see how bad they are.

  • BKXtoZERO

    low volume here but we all know that means nothing…. low volume melt up for years.

  • https://evilspeculator.com Sir Mole III

    You know I will.

  • Brishort
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • BKXtoZERO

    I noticed that yesterday myself. I was looking for similar candles and I went back before the peak and they were all very small

  • Brishort

    Was that a Zero stealth divergence @ 2872.25?

  • Mary

    short /NQ – 6623
    stop – 6648

    target 1 – 6595
    target 2 – 6535

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    May the 4th be with you.
    πŸ˜‰

  • HD

    Those MF’rs, let me count how many mistakes I made thinking there were still sellers…..

    We now have a 2-4 TL for the first impulse of this new wave/trend.

  • ridingwaves

    always good to have the force with you….this rally is pretty forceful itself….

  • Brishort

    In agreement, same position just opened by system on 1 Min 3MA cross.

  • Mary

    that’s quite a lithp you have there …

  • http://www.linkedin.com/in/sharondsessions/ Sharon

    Hi I use screenhunter free. It doesn’t crash my Win 7 computer ever.

  • Mary

    out at 6622

  • Brishort

    Thanks, will look it up!

  • BobbyLow

    What about “Snipping Tool”? If you are using Windows, you probably already have it on your computer.

  • BKXtoZERO

    keeping it tight… good. Sometimes I am too generous with stops

  • HD

    2678 will be 50% retrace, HWB. The DJI already there. Might be line in the sand.
    10 handle pullbacks are very familiar.

  • Brishort

    Could still part of possible fake retracement move on 2 MA out of 3. I need to let my system take care of this one. Does look like it will could be reversed, but too early to tell.

  • HD

    microsoft paint. alt+ print screen, paste, done.

  • https://evilspeculator.com Sir Mole III

    I wouldn’t read too much into it right now. Zero signal is positive despite sideways price action – let’s observe for a little longer.

  • Mary

    I have on ongoing conflict with myself. I set a stop, the trade then goes my way and gets close to the target but doesn’t make it all the way. Then it starts to reverse on me and that little voice says “Never let a winner turn into a loser!” so I get out before it does. Many times these turn into big winners without me. This may well be one of those times. We shall see.

  • Mary

    target 1 achieved – without me (see below)

    system says move target 2 to 6545 and move stop to 6621

    next time …

  • BKXtoZERO

    its really tough, same here. there is the conflict of leverage, position sizing etc that everyone here grapples with…. smaller trade, wider stops and you can be looser and hopefully be right. I used to try to use a hammer all the time, but better to be right with a little less. I am willing to lose about 200$ area on a loose stop to try to win 1000 or more. I get a few stops, then I bang one that really pays. To each his own style/size/risk.

  • Julie

    BAC and USO taking profits as both reached initial targets. BAC lower cloud boundary and USO Ichi Cloud conversion line (8)
    JULIE

  • BKXtoZERO

    you just woke up? I never see you early…. beauty sleep?

  • HD
  • Mary

    My signals are great – I am the problem – only sometimes thank God.

    I got this current signal on a 15 minute chart.

    I got the same signal on a weekly chart 2 or 3 weeks ago but didn’t take it because I don’t have enough capital for the wide stop on the weekly. Target 2 of 6210 is still in play on that one.

  • Julie

    At work ……. Post when time allows
    JULIE

  • Mary

    too much bed … not enough sleep …

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    You couldn’t find the power button, it’s ok, we understand.
    πŸ˜‰

  • BKXtoZERO

    set MKT stop at 9.4 off to work….. tired of watching 1 min candles….

  • BKXtoZERO

    sold TVIX 9.7, better than my weekly paycheck so taking it

  • ridingwaves

    been using it since 2003 I think, easy for me based on length of utilization….probably better stuff out there

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    dam, that’s fat stacks of cash.
    are you following the 2% rule?
    http://www.grocerybutlers.com/wp-content/uploads/2016/12/horizon-organic-2-milk-gal.jpg

  • Julie

    My positions on current trades are small …. just being nimble in this tricky market. USO A bullish close above the Ichi Cloud conversion line (8) and upper channel line will re enter. https://uploads.disquscdn.com/images/e7beedd0b9d05cc46514b7ff5973407d033ac4a049b093fcf8b5e8d62edd136d.png USO must hold it’s 21 ema at 12.79 JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    IMO Be careful guys SPX up into (1) resistance (2) Ichi Cloud baseline (21) and approaching overbought Full Stochs 5,3,3 SPX must get above the baseline 21 then above the cloud. As pointed out in a previous post SPY volume was not confirming this advance JULIE https://uploads.disquscdn.com/images/3facdc92acce8397e13ecd1efef26bd902b66c8b98fbf5c5e9375d32d878d3b2.png

  • BKXtoZERO

    but volume didn’t confirm advance all of last year….. (devils advocate)

  • Brishort

    OMG, Julie, you are the hero here to keep on trading USO. CL is so difficult for me, everytrade I take seems to be the wrong one. GL on this one. For my part, indicators are saying CL could indeed rally from here.

    Be very careful though, the monkey games since January are still on-going.
    12 hours bars view below with trendline from August 2017

    Just above cloud, higher highs. looking for longs legitimate, but still whiplash zone.

    https://uploads.disquscdn.com/images/88a3a7d96bd2de569c7b3653e0b9c8adf46e726af11c32d08b17a03a8c3acb86.png

  • Brishort

    Duly noted chief! (Did Mole make it to Captain yet?) :-p

  • Julie

    Brishort I use parameters 8,21,55 in lieu of the standard 9,26,52 for the Ichi Cloud
    JULIE

  • Brishort

    I have a post-it with your parameters on my desk since a while! These 12 hours ones are actually adjusted to 7,22,44. Can’t remember why these on oil though.

  • Brishort
  • Brishort

    VWAP love fest in progress, time for lunch!

  • Julie

    8,21,55 on all time frames for me works great I use them in conjunction with each other for an early entry and times nicely for an exit also
    JULIE

  • Darkthirty

    https://www.justice.gov/opa/pr/eight-individuals-charged-deceptive-trading-practices-executed-us-commodities-markets There’s a link to file a complaint with DOJ. Considered requesting an investigation into the 5-10 point a minute up spikes, but figured it’d put a bullseye on my back………

  • StockTalker

    If you look at the daily or weekly chart bears are in control. short term looks bullish though. Could turn on a dime here.

  • BobbyLow

    I think this is a common problem. I assume that this was a day trade. Target prices are not etched in stone and after price begins to turn, why not take profit somewhere near the half way point between where the max profit was and the breakeven point before it get’s back to breakeven. I realize that in a really fast moving market this might not be an easy thing to do but a half of the pie might be better than just a taste. JMHO πŸ™‚

  • Julie

    A chart $XII ( Institutional Index) which is not traded therefore not subject to manipulation. Observe the double bottom JULIE https://uploads.disquscdn.com/images/f6572e867249362163340e2372db8e4ab67fa67bef7de5b00b1d7fad31cae399.png

  • Brishort

    Mark is not around to mention it but bucky is really preparing to burst up.

  • BobbyLow

    Crude is in a bitchy phase right now. I’m still long and it’s been acting more weird than usual.

  • StockTalker

    She is always a bitch but it looks bearish as to me. Histo has been on a decline for months now.

  • Darkthirty

    If you zoom out a bit, it looks/acts like a c

  • Brishort

    If it’s easier to count the non-bitchy phases rather than the bitchyones , is it still just a phase… πŸ˜›

  • BKXtoZERO

    Long TVIX (again) 9.35

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yes, that was the second thing I saw this morning.

    if so, that will punch my ratio through the median.
    http://stockcharts.com/h-sc/ui?s=GLD%3AUUP&p=D&yr=1&mn=6&dy=0&id=p52933840024

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    a Julie groupie, I’m Soooo jealous.

  • Brishort

    Mole and crew, is it time to sharpen our pencils on the cryptos nobody wants to love anymore? https://uploads.disquscdn.com/images/6c0e2828881c5263bc43e6bb3ffb85c9106ac638b9f0d9aed720585c9f3b750a.png

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Oh, He’s a Captain. You should have been there when members walked the plank. It wasn’t pretty.

  • HD

    I have enough data to quantify 2554, wave termination. This is something new. 2678 muey importante

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    if I’m any more careful, you are going to have to wrap me in bubble-wrap.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    that’s the *line* I was referring to last week.

    *Your Late*

  • BKXtoZERO

    out… why bother. Bulls on da run

  • Brishort
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    Julie, update on the SPX FibArc chart.. please.

  • BKXtoZERO

    Gap fill at 2711 ES looks like a nice target for bulls

  • Brishort

    I know. I am trying to play catch-up to a GOD!…. but I’ll make it one day πŸ™‚

  • Brishort

    Indeed, that was a rare morning gap that did not get fill.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    demi-god.
    but I like the flattery.
    πŸ˜‰

  • Brishort

    Just for the sake of discussion, what has not changed though is the difficulty to access the crypto markets. I am myself with QuadrigaCX which is Canada based, but it’s a pain to fund. And now Canadian Banks, BMO leading, has started dis-allowing funding via credit or Interac (quick bank transfer method).

    It is difficult to get too enthusiastic about the next bull run if nobody has easy access to fund their account and participate….

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie
  • Brishort

    NQ, 2 minutes chart, 4 times trendline touched. Zero not excited about recent rise, justifies divergence view. Anyway, probably a losing trade but still worth the discipline. Short with stop above trendline. https://uploads.disquscdn.com/images/4380f458ba917e0c31c1735c7051635bc989c0a97a1cdc8976fa2b7c704483ec.png

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    gap fill around 2700 seems like a real possibility.

  • Julie

    My thoughts too GG
    JULIE

  • Julie

    RSI at approx 50 now looking for gap fill and RSI at 60 up into an ARC
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    50 will coincide with a fast (price) move. 60 was a high in Feb & March.

  • Darkthirty

    Never learned any cloud formations that didn’t apply to weather forecasting. Not seeing any correlation on that chart either, except the pink line appears to be 100% on the forecast. What is the pink line’s parameters?

  • Julie

    GG and everyone SPX lower gap coincides with the daily 55 ema. At this level Full Stochs 5,3,3 will be overbought along with RSI mentioned in post below JULIE https://uploads.disquscdn.com/images/16dc80215d0a5cc39616c47cfff86b27372e73e29686fc376a8c3bfec62b6fcc.png

  • BobbyLow

    I’m only doing short term swings so I don’t care about what the longer term trend is. All I want to know is what the trend has been for the past 24 Hours and when I’m able to hook on to a trend for a few days, I’m a happy camper. πŸ™‚

  • Darkthirty

    Might as well cover the one at 2850 also…………………..

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    ..time check.

  • Julie

    BL USO I went long the oversold bounce off the lower trend line and 55 ema. Took profit (very small) this a.m USO must get above it’s 5 ema and trend line . Good news is holding daily 21 ema and RSI above 50 Will re enter long above trend line and 5 ema https://uploads.disquscdn.com/images/c1b50a0c3df2412d5857841f67a962a63e859c5b4728eb1ee9ad4fe24d256279.png JULIE

  • HD

    “Wooffy The Dog Licks His Balls” The Mole 2018

  • BKXtoZERO

    Someone bought me lunch so I am heading to Ruchis. All kinds of great dishes, chai and Coconut Kulfi. Al never ate this well. https://uploads.disquscdn.com/images/049393cad8e4e678a243f839df17326932b13aad62feb3124f57baee275ee048.jpg

  • https://evilspeculator.com Sir Mole III

    You may quote me on that πŸ˜‰

  • https://evilspeculator.com Sir Mole III

    Man I miss that shit. Over here in Valencia non-spanish cuisine outright sucks. There is not substitute to living in the U.S. when it comes to authentic foreign food.

  • Brishort

    Pink is a trailing negatively displaced price line. It gets significance when crossing the cloud.

  • Julie

    Was it your lawyer father – in – law ? That would be great ! Enjoy BKXtoZero
    JULIE

  • BobbyLow

    Julie, I’m charting /CL along with OILU on both 30 Minute and Hourlies and all still say short term long by my lens. Candles have been crappy/scattered but still trending.

    BTW, have you ever thought of charting USO and trading 2X UCO/SCO or 3X OILU/OILD. You could probably use 1/2 or 1/3 of capital and get the same results or use the same amount of capital that you would have used with USO with the 2X or 3X and get more bang for your buck.

    Just a thought. . .

  • Julie

    Everyone have a great rest of day. Must get back to work for 3 more hours
    JULIE

  • Brishort

    Have a good Seattle lunch!

  • Brishort

    Take care, see you soon!

  • https://evilspeculator.com Sir Mole III

    I don’t know Bobby – in general I don’t chart ETFs and most definitely not the more leveraged ones as they need to be rebalanced which causes all kinds of ill effects in the pricing.

  • Julie

    Also BL the 5 – 21 and 55 ema’s are in a bullish alignment with price above the cloud.on the daily chart The trend is definitely up
    JULIE

  • Darkthirty

    ok, appeared to print before the index

  • BobbyLow

    Julie’s been charting USO all along so that’s why I mentioned it. I’m charting both the 3X OILU and /CL and it works out fine for me. As far as holding leveraged positions for a few days and even a month or so, the amount of shrinkage due to rebalancing is negligible and definitely worth it for getting 3 times the bite for every dollar of capital used.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • ridingwaves

    S out at 9.30….

  • Julie

    BL I am a little spooked by the 3X esp with gaps on an open.
    JULIE

  • ridingwaves

    stopped out here too….whiskers I say

  • ridingwaves

    I live in a food fest…..one of the few perks of whack San Francisco….

  • CandleStickEmUpper

    Not if Trump can help it

  • Mary

    depends on if they’re legal or not …

  • BobbyLow

    Gaps keep the juices flowing. LOL

    Seriously though, prices are always a moving target and the closing price on USO was 12.83. The closing price on 3X OILU was 43.43. $12.83 is Apx. 30% of the $43.43’s OILU price. But OILU is a 3X so it would only take aproximately 10% or 10 Cents worth of OILU to equal $1.00 worth of USO. In terms of capital, $4.43 of OILU would equal 1 share of USO at $12.83 and the results would be about the same on any gap.

    You should also calculate the rate of change of both USO or UCO or OILU as it is related to the current price of Crude. Sounds complicated but it makes sense to do this when measuring risk.

    Some people try to compare on an amount of shares basis instead of the amount of capital being used and this would be wrong.

  • https://evilspeculator.com Sir Mole III

    I remember – used to live in the Bay Area until 2000.

  • http://www.captainboom.com/ captainboom

    Yeah, I know. I said that tongue in cheek.

  • BKXtoZERO

    I hope so!

  • BKXtoZERO

    you are young fit and lean, this stuff makes you fat!

  • BKXtoZERO

    My favorites there are: Sahlimar, Chutneys and little India, all near the Tenderlion. Also, Brendas and Dotties for breakfast, also Fangs for Chinese….

  • HD

    This 40 point hit in globex has nothing to do with news. Pure coincidence Trump opened his mouth about another $100B tariff trade war thingy.

  • BobbyLow

    Yep just read that after taking a look at the futures and wondering WTF?

    Unfuckingbelievable!

    Sometimes these types of futures drop can retrace overnight. But we’ll see what happens.

  • HD

    2612 will be HWB

  • BKXtoZERO

    he he he he he he he he

  • Julie

    BKXtoZERO AMZN closed above it’s 5 ema . Was watching AMZN at the (1) lower trend line of an expanding triangle (2) 89 ema (3) lower Keltner channel and oversold very strong resistance at 1455.10 Today’s close just shy.JULIE https://uploads.disquscdn.com/images/0155445615854673e5a8f18b619b83bf8690a99dd37f8e589720e68f06ebffe7.png

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    yes, I recognize this pattern.

    It’s the Ho’-Li-Fuk dragon pattern.
    πŸ˜‰
    https://uploads.disquscdn.com/images/c6476319fbc5f2235f2b4151376a35557e6876e6dfe8779a55ed4c61a95e4aff.png

  • BKXtoZERO

    Julie: 3rd time since Feb that we get a strong up candle on ES, then a weak little floater above it that fails. On 5 day chart this leaves a little gap island. If we really want to annoy the host, we could guess this might even just be a little “b” pullback w/ another stab higher to 2710 or so…. but that would be annoying and I don’t want the cute little puppy harmed.

  • Julie

    Usually about 3 days for short covering if Bulls can’t initiate a positive feedback loop. Today is the 3rd day.Tomorrow perhaps the gap fill and possible decline My two cents anyway. Tomorrow is Friday and usually FRiday’s are neutral or positive
    JULIE

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    The algo’s know what they are doing.
    Illuminati Confirmed.
    πŸ˜‰

    https://uploads.disquscdn.com/images/f8ad1579dd909db70f708259382b001300cc75f7e6eeb07fd4e43e46eb9d7275.png
    If you look closely, you can see Three SEVERE drops off of that golden arch.

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    for those who miss my reference..
    https://www.youtube.com/watch?v=YNw7bbzbWgY

  • Julie
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb
  • Julie

    Dinner is now ready (late) GG You have a great evening and see you tomorrow
    JULIE

  • Mary
  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    so you were a Model too? {smirk}

  • http://gerb-reloaded.blogspot.com/ Gold_Gerb

    TSLA weekly,
    out of this. World.

    Ok, family member in the hospital. Gonna be a long night. L8ter.

    https://uploads.disquscdn.com/images/79cde3ce6c8285faf80e2018661befcc075dbc511f9bab1baf869c879b76ed33.png
    -GG

  • Julie

    GG Prayers are with you and your family
    JULIE

  • BKXtoZERO

    wishing you well Gerbil dude

  • Julie

    Yes wishing GG well …. BKXtoZERO Tomorrow will show you how I trade momentum
    JULIE

  • BKXtoZERO

    OK looking forward to that! momentum in which direction? scenario 1) reversal heading for new lows, 2) a drop in the choppy new uptrend that will be bought up (again) and another gap closed (again). Also, requesting more pictures of you in those jeans please……………

  • https://evilspeculator.com Sir Mole III

    Well, you got one out of two right πŸ˜‰

  • https://evilspeculator.com Sir Mole III

    I don’t know any of these places but in my defense I haven’t been to S.F. in ages now.

  • Brishort

    Just read your message. Hopefully this message finds all of you well. Take care GG.