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Breaking Bad

by The MoleNovember 13, 2018

If I were to use a reference in popular culture to describe what’s currently unfolding in equities then I’d probably point at Walter White walking into the local drug kingpin’s lair with a bag of fulminated mercury in his pocket [episode 1-6]. Up until this point he’s merely been toying with evil, skated around embracing it, conveniently rationalizing his growing series of illegal activities and the drama he is about to unleash.

And right here, in Tuco’s headquarters clearly situated on the wrong side of town, comes the moment when he finally crosses the line. This is where Walter stares straight into the face of evil and realizes that he likes what he sees. This is where Walter White, as we and his family knew him, ceases to exist. He has officially transformed into his alter ego he calls ‘Heisenberg’ and from this moment on there is no turning back.

The Orange Pig scenario has officially played out and we are now at the threshold of something a lot more sinister. Should equities end up crossing the line at around 2700 then I am afraid that we are looking at a very unpleasant resolution of the 2018 trading year.

As you know I am not one to count waves (anymore) but IMNSHO the current formation has only two plausible resolutions. Either the bears once again are taken the woodshed or the bulls are about to receive a reminder of what it means to keep iceskating near the edge of an abyss.

Once we breach below 2700 and especially if we end up dropping < 2600 there will be no happy endings for anyone involved. It’s going to be swift, relentless, and violent – and it will reverse several years worth of growth in the financial markets. So this is serious folks and once that Rubicon has been crossed there is no turning back.

And I’m not saying this lightly or without a shred of evidence. All one has to do is to simply look at the price action and especially how risk continues to be priced. Here’s a panel showing you realized volatility continuing to signal long opportunities which then either fail or are quickly reversed. If you remember previous examples I’ve posted here, this is not a common phenomenon and does not happen (often) during healthy bull markets.

Here’s implied volatility and to be honest what I’m seeing is starting to be frightening. I have not seen the VIF so inflated against the VIF for such extended amount of time. The VIX isn’t really showing this yet but an explosion higher from here is expected to easily exceed the 30 mark.

Here’s the SPX vs. the SPX:VIX ratio. As you can see even on the way up the ratio has been lagging which is fine for a day or two but not a whole week. There was one attempt to BTFD (which we did successfully btw) but it was swiftly reversed.

I could go on but I have been posting a ton of technical evidence in my momo updates over most of this year. Every single time the bulls managed to somehow evade having to pay the piper. But I fear that we are reaching the end of the line here where too much technical damage has accumulated and accounts need to finally be settled.

So why the hell am I taking out a long position here? Two reasons: First, the charts above are scary enough causing me to recoil just thinking about being long and I usually trade against my emotions for a reason. Second, this most likely represents the final battle for the bulls. If they lose the spike low on the daily panel it’s the final curtain call for a nine year secular bull market in equities (I’m not counting this year).

The stakes here are YUGE and I would be amiss to not take a shot at that final lottery long ticket. The odds here are currently 50/50 but begin to deteriorate quickly with every handle we drop lower. So if you decide to follow me into this abyss then I strongly urge you to use a small position size and keep your stop < 2700 at minimum.

IF stopped out, and again the odds for that are at least 50% I plan on waiting for a small retest higher before taking out a short position with a stop, well – we shall see. If you are more bearish than me right here right now then this is not a bad spot to have been long since last week πŸ˜‰

Julie, our resident trading vixen personified, put it best yesterday:

There is going to a lot of pain with this one. A lot of people are going to be unemployed with house prices tumbling. California is really going to get nailed with home prices. RW on target with that. As with usual with recessions the West will be hit harder than the East and South Seattle – Portland – San Francisco and L.A are really going to feel pain. Not going to be a laughing matter at all. The nation will survive and be better because of it. The younger generation is going to learn some very valuable lessons.

So… I guess perhaps good news then after all?


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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  • Tomcat

    Dropping by to ask you guys to say a prayer for Scott and his wife. They are hurting real bad… I really hope they get through it and perhaps in a year or so we hear the “good news” again… I have a strong feeling fate will smile upon them very soon…

  • TimeToPanic

    What’s their problem, I’ll pray for them.

  • ridingwaves

    nam myoho renge kyo and prayers for the enforcer and wife

  • ridingwaves

    man this is fun, moved trailing stop tighter, think a pullback to 3.50’s is in store..

    ridingwaves a month ago
    possible chance for natural gas spike….
    In BOIL with very loose stop….have a pnf target of 53…..

    got in from 26-29…let your winners run…..have half left

  • TimeToPanic

    Another Italian bank in trouble I read.
    More money to flow across the Atlantic.
    Strong dollar kills the US economy, then the Fed start printing, $1tr in deficits, and no overseas buyers. Going to get very messy.

    Today I’d fade every rip, were it not for the fact I’m all in short already.

    Gym time, legs day, sigh.

  • HD
  • HD

    Equities are doing the pivots and fibs so well. Not easy but reliable.

    Looking to 2019. A few charts open. Possible to start EW on BTC. A 4 bagger? Need to see one more thing.

  • BKXtoZERO

    I cautiously added some TVIX 43.7 on those little spikes, was expecting more but 1 min top tail candles look weak at the moment

  • http://iberianviews.blogspot.com/ catracho
  • BKXtoZERO

    Long crude via UWT 21.05

  • bankwalker

    From Scott’s email:

    “My wife and I made the decision to terminate our daughter yesterday, on the advice of doctors.”

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

    No worries mate.
    Just another stage of marriage.
    https://www.weddingwire.com/wedding-ideas/stages-of-marriage-that-are-totally-normal
    (nothing new under the sun)
    πŸ˜‰

  • Tomcat

    They lost their unborn daughter… They had to terminate the pregnancy halfway. SAD!!!!

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

    Yes. Had a close coworker go through that.
    It’s a trans-formative & extremely hard part of life.
    Prayers.

  • BKXtoZERO

    stopped out -.0.70 but TVIX looking spiffy at +4 on larger position

  • Tomcat

    Hard…fck hard…when you are in your 20s or early 30s its hard, because biologically you may still have another chance….this is fckin gut wrenching…

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

    Still think $89 TVIX

    Oil? Dude why!?! Lol

  • maxcherry
  • M E

    My prayers here

  • M E

    To short or not to short Nat Gas? That is the question

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

    was stopped out of my trade on BOIL, think a pullback to 3.55 area is close but they could gun it to 4.30 area, I have it going to 5.50 area next couple months…

  • BKXtoZERO

    stopped out of half TVIX flat, letting half go a little past entry to about 2760 ES

  • Julie 35 – 25 – 36

    Our prayers too to Scott and family
    JULIE

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

    Sending prayers for Scott and family..

  • BKXtoZERO

    Dang, I just saw the news below. Very sad. My condolences to Scott.

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

    Julie, you got an honorable mention!

    the last line is holding, for now.
    https://uploads.disquscdn.com/images/bc64408d615d7b35770b2a0d2a6b0e7274958ecfd72dc4f5e1e63956023f4ab8.png

  • Julie 35 – 25 – 36

    GG 2757.79 is a very important level to close above
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    BK We had some very close friends lose their 13 year old daughter in a bicycle- car accident several years ago. Losing a child is the most horrible thing there is
    JULIE

  • BKXtoZERO

    I know…. even thinking about it is tough.

  • Wave_surfer

    That is so horrible. I’ll pray for them.

  • Julie 35 – 25 – 36
  • Julie 35 – 25 – 36

    UUP Weekly chart approaching very tough resistance zone Overbought with weekly RSI at 73.Greenback tops here gonna be nice for PM.s JULIE https://uploads.disquscdn.com/images/c0f8aeb6aeccf584b9e357c506d6f9265fef49b9e55e0a7e86706e479148c0e2.png

  • Wave_surfer

    The last 2 hours of yesterday seemed to have high volume on the move down. Am I seeing it right? Was it 2x, 5x, 10x the volume of what is happening on a bounce today?

  • https://evilspeculator.com Sir Mole III

    SHIT – what the fuck happened?

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

    (down at the bottom)

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

    INTC,
    this thing is collared like a dog. (not too hot, not too cold)
    RSI 50 wins again.

    https://uploads.disquscdn.com/images/147d755bf5687f8505dc7ce64e73d84c3156d6a0f8782494fd88b2fc11d712b3.png

  • https://evilspeculator.com Sir Mole III

    That ought to do wonders for my EUR/USD exchange rate πŸ˜‰

  • https://evilspeculator.com Sir Mole III

    If we don’t see buyers step in here pronto we are talking a massive break down pattern. This stopped being entertaining weeks ago and shit is about to get real:

    https://uploads.disquscdn.com/images/0f16c98030b77af18ffa45d24bc1b036a801630415f68ad588c9853bd468511d.png

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

    so we’re switching from the possibility of orange to red pig, very quickly?

  • https://evilspeculator.com Sir Mole III

    Look at that Zero signal – no participation. IF it breaks it’ll do so quickly. Not the type of market environment I enjoy very much, excess volatility is not a retail trader’s friend.

    The other aspect of this is that people are exhausted after a year of shit tape to be honest. We need to see a resolution here and at this point I don’t give a rat’s rectum if we slide 2000 Dow handles. This whole market feels like it’s running on fumes.

  • mSquare

    Still in it and has been making me some decent $s while I wait for it to exit the range (aiming for $49s bit below the 200day)

    Like I said in an earlier post, I Buy $46s (I covered calls against stock yesterday) and sell the $48s (sold new calls earlier today)

  • BKXtoZERO

    I am in!

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

    Economic Calendar events.
    Tomorrow AM & Thursday.
    https://finviz.com/calendar.ashx

  • BKXtoZERO

    Buy some TVIXi Sir! when life hands you lemons, make lemonaide.

  • Sp00nman

    I hear you Chief.. I was expecting a bounce at vwap but buyers just aren’t stepping in and bidding this market..

  • BKXtoZERO

    Thursday is hedge fund redemptions day

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

    October low was roughly a 786 retrace of april lows, which “usually” denotes a W2. Current retrace from 2630 is 50% (HWB), which is possibly a B, thus, C target is 2518…………….pick your poison

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

    Lunch can wait. Priorities!

    USO, this could be the intra-week push low. Brass balls gentlemen..
    https://uploads.disquscdn.com/images/9faee8209810446ff9030ca0ce8ec0a3eb012e7e705e72699fcbc3912903b07f.png

  • ridingwaves

    entered UWT 19.20

  • HD

    A close above 2556 would be a more reliable
    long. Otherwise just guessing and catching knives. Jmho

  • Julie 35 – 25 – 36

    Red Pig Down from last night previous thread
    JULIE

  • BKXtoZERO

    If stocks break down crude will get worser and a order to quote an old friend

  • Julie 35 – 25 – 36

    USO Weekly Chart It’s do or die here … 61.8% retracement matching crucial support JULIE https://uploads.disquscdn.com/images/d63679bc54b5d86f4366e16c40ec798f1c09dcd3f9d632979ff529af6648c3b8.png

  • ridingwaves

    its all good, close enough to the 15th of November….buying lots…have my second order hit at…18.98, another lower….

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

    dead cat bounce on some silly news tomorrow.

    or my name isn’t HeisenGerb.
    https://i.pinimg.com/originals/ef/ec/8c/efec8cc579bd57cb96d87ecbd78ff3bb.jpg
    πŸ˜‰

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

    ditto, just not leveraged.

    XLE long just now,
    bigger order, lower.

  • TimeToPanic

    Fucking doctors, never terminate, that’s terrible, why do people listen to fucking murdering doctors?

    Too late for prayers, I’d have prayed for the little baby.

  • Julie 35 – 25 – 36

    SPX Really going to get ugly below 2710.24
    JULIE

  • Brishort

    VWAP failed to be retaken + dead Zero….Prepare you popcorn. Triangulation in progress will end at some point.

  • TimeToPanic

    Today looks very much like 22nd October on NQ. A flaggy sorta day.

    If the selling resumes, this next wave down should equal the first wave down at a minimum (I’m no EW guru, just follow a guy’s blog).

    First wave was c.400 NQ points, so another 400 down from here would be c.6,500, just above 2018 lows. Will the lows hold? Hope not.

  • HD

    Maybe the quietest crash in oil ever.

  • Julie 35 – 25 – 36

    GG MLNX finally dumping below 5 ema … Very strong stock this past year Going to watch 38.2% retracement matching 13 ema Could go to 61.8% retracement matching the upper gap window. We https://uploads.disquscdn.com/images/a9e3bdd9ac10efd67e74eb64fcf29af2ea1978713500cd116279992d9b43fab3.png discussed MLNX last night JULIE

  • Julie 35 – 25 – 36

    Oil A falling knife Guys Julie not going long until a bullish reversal candle on weekly chart
    JULIE

  • mSquare

    Yes, but too risky to go short expecting it to break (at least on a multi-day / week or so basis)

    A few tweets / rumors of a resolution of tariff stuff let alone a deal with China can cause it go up in a hurry. You may curse me for saying it but in this respect ‘this time it is different’!

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

    conservative? not like you.

    ..tell me the truth, did you put it all on Silver?
    πŸ˜‰

  • BKXtoZERO

    Ya…I gave up on oil… If stocks give way oil could be at 50 quick

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

    I see no edge.

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

    that’s yucky glad i don’t have any money with them

  • https://evilspeculator.com Sir Mole III

    Yup, this is disconcerting.

  • https://evilspeculator.com Sir Mole III

    We washed it today and put a red bow on it.

  • Sp00nman

    It’s definitely risky. I remember back in ’08 being short countrywide and every other day there were rumors of them being bought out which would cause a pop. All kinds of rumors to pump the market..

  • Julie 35 – 25 – 36

    GG A very small position SLV If it holds support per SLV chart below will add another small position. Planned slow accumulation like the Big Dogs do ! I mean I don’t want to tip my position with a million shares or so ! LOL!
    JULIE

  • bankwalker

    making a move here … we’ll see …

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

    And a phone call up and down wall street……… cost me 20K in minutes

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

    Dow now leading down. Now unlikely day’s low will hold anywhere… VIX pattern absolutely primed for take-off as well.

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

    How’s Dallas fitting with you!?

  • HD

    Day traders market. All that actions and SPX -$5.56. If you have a trade make sure you have an exit in mind or the market will kick you out. VIX 20. Not everyone can afford 40 handle stops. Stay tight. Jmho.

  • Brishort

    Time to count your fingers to make sure you can see how many SIGMA we will reach?

  • TimeToPanic

    Lovely to see oil crashing and gold holding steady, those gold miners are going to be the buy of a century within months.

    I just literally opened a bag of popcorn to enjoy the rest of the day’s action, the perfect post gym snack I believe.

  • Darkthirty

    PPTs been in the house all day……………

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

    There was a 140 point hit in the B wave up in March.

    It’s been very clear all year this is simply not trading like a bull market. Letting it ride won’t work.

  • Julie 35 – 25 – 36

    TTP I am slowly accumulating Silver. I showed a chart SIL (ETF silver miners) several threads ago
    JULIE

  • HD

    No predictions from me. Just thinking huge stops is a recipe for losing money.

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

    Lots of butter. Ketogenic Diet is so Hip.

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

    The Silver Cougar

  • TimeToPanic

    My tip: stick with physical gold, or slice off some paper profits and get some physical gold. I am watching the gold//silver ratio like a hawk, think year/end tax-loss selling might drag the HUI back down near 100.

  • Brishort

    2720, this morning lows tagged.

    JULIE’s pivot now on deck for processing: 2710 behavior now under scrutiny.

  • TimeToPanic

    I am low carb mostly, struggle with too much fat due to suspected leaky gut/IBS. But I do add butter and beef dripping to sauces etc. Lotsa meat/eggs/fish.

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

    How much time left? 90 minutes?..

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

    I like this guy. Let me know what you think!?

    https://www.youtube.com/watch?v=3pjaXjmZWpU

  • Brishort

    Problem is they love to gap the market on the open, playing with futures, typically starting 4AM.

    I am clearly unsure if anything will happen during this session. But GAP need the market is likely to have for tomorrow.

    A lot of volume and energy expanded to compress the coil during the day….. But as you say, the 90 minutes left is still young…

  • randomuser6789

    Put lipstick on it.

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

    no don’t say that…..I just had lunch.

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

    +3
    I KNOW, that’s oh so typical. make it look bad, sell FEAR at close,
    and then whamo the next day.

  • ridingwaves

    final buy at 18.35…done, time to sit for 60 to come back around…

  • Brishort

    AND its OPEX…. classic churning to go nowhere in the end.

    The options guys rarely drop the ball on pinning the market for a predictable target on Friday, adjusting every day of the week according to Max Pain volume/price point.

    They extremely rarely drop the ball, maybe once every 18 months…. but when they do, the discrepancy is spectacular. And it’s been more than 18 months it has not been dropped…. just a stat though, not a prediction.

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

    Well, there’s something in the air. If they drop it, it will uber-quick like Mole said.
    (see my Homer chart last night)

    That Halloween gap is still there
    https://uploads.disquscdn.com/images/27f2cdb7d751797983bffd68586cf411c83bb214b777c84e1206a9dc15d89edc.png .

  • Julie 35 – 25 – 36

    One item Guys The drop from 2815 looks impulsive
    JULIE

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

    Yep, makes a lot of sense.

    I drink kefir, eat loads of veg and some fruit, take ascorbic acid, and have two jars of homemade sauerkraut fermenting, will be ready at the weekend.

    Despite all of this, I do suspect my issues are caused by genetics, my mother has the same problems.

    You might like this doctor’s ideas on all sorts of stuff:

    http://www.drmyhill.co.uk/wiki/Fermenting_gut_-_the_Full_Monty

  • Julie 35 – 25 – 36

    GG LOL!
    JULIE

  • BKXtoZERO

    Let’s go……

  • BKXtoZERO
  • Julie 35 – 25 – 36

    USO Going vertical on daily chart usually not much left with this occurence

  • Mark Shinnick

    Really?…so that’s what seems most probable?

  • Julie 35 – 25 – 36

    USO weekly chart below at important zone i.e. 61.8% retracement and very strong support. IMO Getting close for a snap back rally JULIE

  • Julie 35 – 25 – 36
  • Mark Shinnick

    Locked n Loaded…for something…yes.

  • BKXtoZERO

    Just what I am positioned for at the moment. On the fence I would say

  • BKXtoZERO

    Quite an ass whooping on uwt. Glad I keep things tight.

  • Brishort

    VWAP lower BB very well managed by Ms. Market. Although Zero is absolutely flat, any serious potentially damaging technical breach is currently avoided. The walk on the precipice ledger is continuing….Humpty Dumpty’s fate still not decided!!!

  • Wave_surfer

    I like him too.

  • HD

    TSLA is up 30% against SPX past 3 weeks. Holding up and doing a sideway consolidation before the run to $420. Jmho.

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

    chart of Brishort conversation.

    reversals happen in SPX greater than 50% at this level

    https://uploads.disquscdn.com/images/d39906f85afd6df3d9720da9fd94868194a9f2c085fa0a3801d11b86a16f7934.png

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

    I’d laugh, but they got rid of the crazy no-sleep pot smoker. So, why not!?

  • Julie 35 – 25 – 36

    HD GG Checkout F (Ford) relative strength. Also looks impulsive off the October 19 low
    JULIE

  • Julie 35 – 25 – 36

    F A pullback to 8.92 is an entry
    JULIE

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

    that chart looks familiar…let’s see….yep.
    it’s All beta! or alpha, or whatever.

    INTC VS F
    https://stockcharts.com/h-sc/ui?s=F&p=D&yr=0&mn=9&dy=0&id=p2381045862c

  • BKXtoZERO

    Ya… My wife is a genius investor. I will hear all about it

  • TimeToPanic

    QQQ testing this level for the 5th time in 24 hours. I think it’s over for the bulls, Apple has crumbled badly intra-day.

  • Brishort
  • TimeToPanic

    Heh, apple crumble, I made myself LOL with that one. Custard anyone?

  • BKXtoZERO

    You are a poet and don’t even know it

  • Julie 35 – 25 – 36

    Must get back to work Everyone Have A Great rest Of Day. Again prayers out for Scott and Family
    JULIE

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

    now I’m hungry. apple cobbler.

  • TimeToPanic

    Roses are red, violets are blue.
    Some poems rhyme, but this one doesn’t.

  • Sp00nman

    HYG continuing lower is not bullish either. That’s a mighty impressive move in oil.

  • TimeToPanic

    Yeah, I believe lots of the junk credit is in the oil industry. Ouch.
    Still, President Trump will be happy, he was just calling for lower oil prices. Smart guy.

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

    I noticed QQQ just closed its 2-week old gap, might inspire a rally.

  • Wave_surfer

    I am thinking gap up tomorrow and going up for the next 3 days into Options Expiration.
    However, I do not have any positions now because I don’t want it to gap against me and I see too much risk to the downside, so I will day trade for a bit instead of having a position overnight.

  • Sp00nman

    Sir Mole, the interesting thing about today is volume isn’t that low from what I can tell so there’s buying/selling, just lacking any conviction? Market breadth is very flat..

  • BKXtoZERO

    I am out of tvix flat for the day. Tough either way

  • BKXtoZERO

    Mole please give Scott our condolences and best wishes.

  • BKXtoZERO

    Tell him old turd of a turd BKX is thinking of him big time.

  • ridingwaves

    Interesting how day before Khashoggi news marked the top of crude trade…..

  • BKXtoZERO

    Last few days I started thinking that crude drop is punishment from the west

  • TimeToPanic

    Italy versus EU budget deadline is at midnight (European time). Italy ain’t blinking. The EU office-boys won’t blink. The markets will blink though. Draghi rubs his hands, finally his chance to sort out the EU banks, and rid himself of the EU forever (evil chortling).

  • ridingwaves

    banks cutting their exposure for sure…took it much further down than I expected…..the economy hasn’t cooled off to support this lower price…..inflationary hedge makes it good buy via my 30 day + trend…

  • BKXtoZERO

    Also hedge fund redemption notice to sell is 15th so this is likely hedge fund dumpage as well

  • https://evilspeculator.com Sir Mole III

    He actually didn’t tell me shit, not sure why. I wrote him today though and will pass it on when he responds.

  • Jason13

    Zero was very helpful today…just my 2nd day of use and two very nice scalps for me.

  • https://evilspeculator.com Sir Mole III

    Hey, good to hear, Jason. Take it easy though and don’t hesitate to ask. Most importantly, if it’s not an obvious signal that everyone here would agree on then just ignore it. It’s easy to start reading tealeafs IYKWIM.

  • Jason13

    Thanks Sir Mole….will do. I did have a question regarding the trend day alert email members get (and its understanding) but I’m not sure if this is the right forum.

  • Wave_surfer

    It depends on how you look at it, I guess.
    You could say. This is the 5th time that price has went to this level and the bears STILL can’t bring it lower. It is forming really strong support since the bears have failed 5 times now.
    Note: I am not long, but I am just saying that touching a price 5 times doesn’t mean it has to go lower.

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

    overnight Spoos Watch, it’s looking iffy.

    I had to swear a FreeMason oath to protect the Secret, but what the Hell.
    There’s a magic secret ratio, outside of Fibonacci
    πŸ˜‰
    -GG https://uploads.disquscdn.com/images/f2f6a42f3bd9a69d28162194b24bfd0e2bd8c4992d1b945b1896b26209493861.png

  • Sp00nman

    Ya goes both ways wave_surfer. To me it looks like the bears just ran out of steam or got tired..? That or the bulls quietly defended the level. It’s important to keep in mind the market basically dropped 100 handles without a sizeable retrace (except for intraday today) which failed.

  • Brishort

    Beware of the analogue rabbit hole though. I dug that one in the past… a very bad mistress she was…

  • Darkthirty

    The clock tells all…………………..

  • https://evilspeculator.com Sir Mole III

    It’s just a vestige from way back. Not sure how valid they are these days but some members love them and complain immediately when they don’t get sent.

  • https://evilspeculator.com Sir Mole III

    I’m next in line after Mario.

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

    been a little bumpy, but it appears there is some positive changes coming my way soon. when that happens i will share – too much chaos to explain will wait until it is over