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Convergence
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Convergence

by The MoleFebruary 3, 2009

UPDATE 1:37pm EST: I was just poking around in my charts (being bored to hell and all) and uncovered this little jewel:

Maybe this means nothing, but when three different moving averages converge to a singularity the evil part of my brain is taking notice (it’s a large section). Worth noting is also where this is happening – we are basically in neutral territory here. A big move is unfolding and that sooner than later, and based on what I’m seeing this situation usually resolves to the upside. However, I’m open to other interpretations – anyone got an epiphany looking at this?

BTW, as I’m typing this the futures just jumped – maybe my keyboard is somehow triggering the NYSE to move. You know like the butterfly triggering a hurricane chaos theory – be afraid – be very afraid….

UPDATE 2:00pm EST (for real this time): Exhibit B:

My stochastics suggest that we might be busting higher – could it be we’re getting 850 after all? Whatever – just get on with it already! πŸ˜‰

UPDATE 2:06pm EST: Quote of the day #2:

One day the Fed’s going to try and kick that can down the road and painfully realize thet its filled with cement.

I think that day is rapidly approaching.

Jeff XXX

LOL – I thought Karl’s quote couldn’t be beat today but I think Jeff pulled it off.

UPDATE 2:47pm EST: After much mental anguish I decided to block CNBS08 – his comments continued to be unproductive, aggressive, and generally a mental distraction. Thus I fear that his presence will negatively influence the quality of this blog as well as the attention of some noobs. I know some of you guys will disagree but frankly I think this blog will be better without him. Too much noise and drama – I have zero tolerance for that.

Listen, I get bent out of shape myself every once in a while but I do cut people a lot of slack when it comes to wasting bits on this digital dungeon of doom. But make no mistake – my focus here needs to remain razor sharp as this bear market is the opportunity of a lifetime. So, if I see a consistent eye sore that’s detracting me (or others) from my mission to milk this puppy for all it’s worth then I have to take action.

Let’s not forget that he’s still welcome to listen. Decision final – if you disagree – you’ll get over it. If you agree – let’s not rub it in and move on. Thanks guys.

UPDATE 3:06pm EST: Daytraders – check this out:

I’ve seen the opposite happening but not this. Anyway, YM and NQ are breaching R2 and R1 pivots – pushing up higher right now.


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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