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Everything Must GO!

Everything Must GO!

by The MoleMarch 18, 2015

Yellen strikes again and the bears have been blown out of the water once more, as expected yesterday. This morning’s drop below yesterday’s lows was a nasty little bear trap and I’m glad that I had cut my remaining short exposure to half which I got out near break even (having a stop below break/even – be prepared during FOMC days). I don’t expect any of you guys having caught that spike higher so let’s just observe the aftermath of what equates to a massive collective rope-a-dope.


The spoos rocketed higher like a bat out of hell. We just sliced through a daily NLBL and odds have it we’ll push a bit higher even before the close. I think this is one a great example of why I will never be able to live in SoCal again. This morning I fell out of bed, saw the spoos near the lows paired with low participation and thought to myself that it was a great buying opportunity. Of course by the time I’m up and running and ready to post the train has left the building. Moral of the story – if you want to catch early morning entry opportunities effectively – live on the East Coast or in Europe (Brazil and even Chile would work as well).


Anyway, this is my favorite chart of the day and the reason may not be immediately apparent. Yes, those spikes on the Zero Lite (right panel) are pretty large – or ARE THEY? On further observation we are spiking at 0.8 – and that amounts to almost NOTHING in comparison with regular trending days. The conclusion here is that this was driven by a small minority of connected prop desks and people on the inside. 99% of traders did NOT participate in this advance higher. You are free to draw your own conclusion from this. Personally I refrain from letting this affect my trading – I simply stay away during Federal Open Manipulation Cycles.


EURUSD is a buy – notice that we are going to close three consecutive higher highs for the first time in months now. It seems that Mole’s European adventure is going to become more costly again.


Bonds are a buy – everything must go! Massive candles here.


Gold is a buy buy buy – and we just cemented new weekly support near those lower bollingers. Breaching that in the future would require some heavy duty equipment and very strong downside momentum. I think we are looking at minimum at a medium term low here.

I’m not taking entries right now – my standing policy is to let FOMC days play out and then pick out easy prey stumbling along the sidelines once the dust clears. See you guys tomorrow morning.

I leave you with this courtesy of the Fly.

It’s not too late – learn how to consistently bank coin without news, drama, and all the misinformation. If you are interested in becoming a subscriber then don’t waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.


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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