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Bottom Feeding
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Bottom Feeding

Bottom Feeding

by The MoleSeptember 29, 2015

Equities dropped lower overnight, once more making my point that throwing money at premature contrarian positions is tantamount to gambling –  sans the sun and pretty girls serving you drinks with little umbrellas.

vegas-encore2_2512825k

So next time you’re ‘feeling lucky’ and your fingers are itching then do yourself a favor and instead charter a flight to Vegas. At least there losing money can be entertaining and if you play your carts right then other ‘perks’ are available to you – ahem.

2015-09-29_spoos_setup

That said I may be testing my luck by grabbing a small long position after a little bounce higher. Technically speaking this tape looks bearish as hell and if stopped out I intend on flipping for a short position, assuming the Zero is not painting a bullish divergence.

2015-09-29_AUDNZD_setup

AUD/NZD – I suggested this one the other day and it’s still looking good. However I think we should wait for a real touch of the diagonal and perhaps a little dip lower followed by a recover. If that happens then be long with a stop below the prior spike low.

More forex fun below for my intrepid subs:

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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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