Cake Or Death?

UPDATE 10:05am EST: So, we got our obligatory fake-the-open whip after which we dropped nicely. Last night I did the right thing by actually simulating taking an earlier ETA yesterday afternoon as the tape touched 846. However, when whipped up I was hit by a surge of recency bias and cut one contract – I could be sitting on double profits now. No excuses – I’m pretty steamed – if you think I’m tough on you guys – I’m a lot tougher on myself.

Anyway, take a look at this:

You know that Yen/ES correlation chart by now. Is this another bear trap or a sign of major weakness. The Yen has been dropping along with the ES futures – bad sign for equities. Are we lured into a trap or into the elevator to riches?

Cake or Death?

UPDATE 10:20am EST: Recently I keep seeing comments along the lines of  ‘Mole – you are a rock star’ or ‘Mole – you rule!’, etc… Now don’t get me wrong – I’m respond to praise as well as the next guy – but I also have been influenced by Zen teachings long enough to realize that such praise will only serve to built my ego and in the end might become the source of hubris, arrogance and finally my demise.

Let me be very clear about something: Since I was a kid I despised gurus and the core of my existence is based around a secular mindset and the idea that each human being has great potential that can be fostered and thus led to excellence. In other (non fancy) words – if you really want something badly enough you will succeed – as long as you know that there are many sacrifices on the way.  I don’t believe that any other human being is less special or less deserving than I am – or you rats!

My intention here is not to accumulate a bunch of trading disciples – if you want that kind of thing – well – there are a few blogs I can direct you to. My goal – no my mission – is to produce a community of highly knowledgeable and profitable traders in order to give non professional traders (i.e. the ‘rats’ analogy) a chance to succeed in this crazy market. Did you know that 9 out of 10 people who try their luck at trading lose their capital and give up within the first year? Those are some sobering statistics, n’est-ce pas? Pair that with a deflationary low interest environment in which many casual investors are forced to try their luck at trading, in this market, and you can take the aphorism of ‘taking candy from a baby’ to a whole new level.

Only by banding together we can succeed in our battle against the Wall Street illuminati. Those guys get all the breaks (obviously) and they know all the tricks – plus they have the power to shift markets their way – the past month is a tribute to that. We have to all be smarter, more nimble, and simply better than they are. I know those are some lofty goals, but if we work together we can become a force that is larger than the sum of its parts. Think about that please – because this is what EvilSpeculator is all about.

Now, cake or death? 😉

UPDATE 11:01am EST: Symbols people symbols!!! What are you trading? Chop chop! BTW, I did get a good fill on NVDA this morning – it’s rolling nicely right now.

UPDATE 11:13m EST: Yen just pushed above its VWAP and is just pushing above the 25 line on my short term stochastic (see 1st chart above). It however bounced off the R2 pivot once more – if we see it push above the 1.1154 level we might see some fireworks today.

BTW, I see only 36 votes on the latest poll and majority picked the joke response. Seriously – has everyone given up on the Zero or what’s going on?