Education
Now Reading
Evil Speculator 101 – Reloaded
54

Evil Speculator 101 – Reloaded

by The MoleDecember 29, 2017

We need a comment cleaner and I’m off until Tuesday, so I thought I’d put up an old favorite covering a few essential Evil Speculator tenets I posted some years back:

I have been a financial blogger for over [nine] years now and believe me – I know how how most of you guys think and operate as I have literally seen thousands of people come and go. Personally I myself have walked through the shadow of the valley of death on several occasions – not only in the course of my own trading endeavors but also in my interactions with my readers, critics, and followers. Because it turns out that the pursuit of what actually works, i.e. what makes you a consistently profitable trader, is not just one of the most difficult personal challenges you may face in your life, but also happens to be very unpopular. Which really is an interesting contradiction if you happen to run a trading blog as a side business. Of course you want to turn retail rats into winning traders but while readers may expect excitement and get rich quick systems, you offer nothing but hard work, sacrifice, and the discipline to show up every day and do the same boring thing over and over again. Not exactly a tantalizing recipe in the face of an audience with the average attention span shorter than that of a goldfish.

The sad truth that has to precede the remainder of this article is that most of you will fail in becoming successful traders on a long term basis. Yes, I just said that, and if you disagree with that, well then please stop reading right now and just move on, because I cannot help you. There is a reason why I’m operating as Evil Speculator and it’s not just due to an admittedly dark sense of humor. Which helps but the real challenge lies in overcoming your personal daemons and implementing positive habits whilst at the same time suppressing a large portion of your most deep rooted human instincts.

Now telling all this will accomplish exactly nothing as most of you will simply move on to the next post and forget all about it within a matter of days. So instead I am offering to work together everyone here to produce your own system [and a new exciting initiative addressing that need is in the works for early next year]. One that has a long term edge – and most importantly you are comfortable trading on a daily basis. But first things first – let’s take it from the top – I am going to compile a list of the personal hurdles [most of you will come across sooner or later] and then address them one by one:

  1. Inability to implement knowledge into action and personal change.
  2. Personal beliefs.
  3. Directional bias.
  4. System and/or market hopping.
  5. Overcoming emotions.
  6. Quantitative vs. qualitative aspects of trading.
Inability to implement knowledge into action and personal change.

How many of you have more than three trading books in your bookshelf? How many own more than 10? How many have more than 20? Have you read them all? Why aren’t you trading any of those systems? Because they don’t work or because you are unable to follow them? Are you attending trading seminars? How much have you invested into all that? $500 – $1000 – $10,000 – more? I think you get where I’m going with all this. Unless you are new to the trading game odds have it that you have already absorbed a mountain of knowledge and trading related information and most likely that learning curve will continue as long as you follow the markets.

So the problem is not the quantity of information really – it’s being able to absorb useful information and to apply that to making successful trading decisions. In most cases less is actually more – back in 2012 I wrote a post on maintaining a strict information diet and I invite you all to read it. However whatever information you choose to absorb on a daily basis – ask yourself: Is this information useful to making successful trading decisions? If that answer is not a resounding yes then it’s nothing but noise that will distract you from your core mission (i.e. banking coin). So don’t make the mistake of equating information with knowledge.

Once you have found statistically verifiable information that you believe will lead to successful trading activities then you must take steps to implement them into your personal life. The fact is that over time you will come across many excellent systems that have a clear long term edge but which you are unable to pursue due to a variety of personal reasons. Perhaps the drawdown periods are too deep for you, maybe the entries happen too frequently during the day, the system doesn’t take enough trades for your taste (lack of opportunity), it works best in markets you are not comfortable trading (e.g. futures, forex, bonds), your account size does not permit proper position sizing. The list is long and it’s one only you can answer for yourself. Don’t expect to abide by even the best system in the world if the qualitative aspects of that system are incompatible with your personal beliefs, dispositions, and life style.

Personal beliefs.

You probably expect me to say that your personal beliefs do not matter but actually it’s the other way around. They matter the most as you will not be able to pursue a system that is not in line with your personal beliefs about the market and how to take advantage of opportunities on an ongoing basis. And I’m not talking about drawing lines on charts either. Look, I really don’t care about what anyone paints on any chart – if I am not able to turn that information into winning trades it’s just noise to me.

Most retail traders are focused on market analysis while professional traders are focused on developing a low risk idea.  To quote Van Tharp on the subject: Market analysis for most traders amounts to building a straw house. They collect data about the markets; they look at different patterns of charts and specific market indicators; and they even make predictions about the future direction of the market and then focus on trying to help those predictions come true. However they consider the probabilities of winning and losing or the amount that may be won or lost. In other words, what most traders do in terms of market analysis has nothing to do with making low risk trades. Hunters build straw houses, but that activity has nothing to do with catching prey.

So instead of ‘charting’ or ‘market analysis’ I simply think about developing low risk ideas. I start out with various ‘beliefs’ that I have developed over the years and then put them into context with the market. For instance I personally enjoy using Net-Lines, a price pattern technique I stole from Chris Carolan a few years ago. They work very well for me but they don’t mean zip to Scott – a fellow from Australia who I have been collaborating with over the past few years on automating various trading systems. Even if trading Net-Lines turns out to be a promising idea for taking entries Scott would never be able to trade them as the concept doesn’t chime with his particular market lens. We all have one by the way – a lens that is – a way of observing and processing information given to us on a chart. It’s all a matter of how we are wired mentally.

Some of us share a similar lens while others use one very alien to us. For instance 2sweeties from Italy (a contributor on the Slope) uses a sophisticated blend of statistics and fibbonaci retracements. Works very well for some – others will find it difficult to build a system around it. Most of you Slopers seem to enjoy bearish markets – I expect maybe also for a number of reasons beyond the scope of your trading activities, but also perhaps due to the inherent characteristics of bear markets. Meaning high volatility combined with directional trending tape. They are actually a lot more difficult to traverse then you would expect but that’s a different story. Bottom line is that you need to sit down and write down your personal beliefs about the market – where you believe opportunities can be found and how you plan to take advantage. Here’s an example using Net-Lines really quick off the cuff:

  1. I believe that Net-Lines produce statistically valid support and resistance levels.
  2. I believe that these levels grow exponentially weaker as time progresses.
  3. I believe that inverse entries prior to a breach and directional entries post breach should be taken.
  4. I believe that exits should be set at the opposing end of the trigger candle.
  5. I believe that entries should resolve into producing 1R within the following two candles or the odds for a reversal increase significantly.
  6. I believe that an accumulation of several Net-Lines of equal direction (i.e. sell or buy) increases significance.

And so on – I could probably list five six more and you may agree with some or none of them. But that’s not today’s exercise and it’s just an example and a first step in developing your own system. Once you have produced a set of beliefs about the market you start develop a system around it, which unfortunately is beyond the scope of today’s article. I merely attempted to demonstrate that personal beliefs are important and can actually be leveraged in developing a system that works for you personally.

Directional bias.

You would be right in saying that it’s probably a bad thing. However it seems that many traders are unable to look in both directions and see the same amount of opportunities. Perhaps it’s because their mind is wired in a particular way – or it’s based on past experience. You can either fight it (my approach) or perhaps you can simply take advantage of it. Fine – you only like to take short trades – I bite! Then develop a system that only goes short – problem solved! What you should NOT ever do however is project your own directional biases onto any particular market. You want equities to crash and burn? That’s a rather perky disposition you got there tough guy – now see what happens over in reality. Mrs. Market is not kind to opinionated people – usually instant punishment is generously lavished.

System And/Or Market Hopping

Now there’s nothing wrong with exposing yourself to other markets and I encourage you look at all of them. However don’t expect any of them to be the answer to your personal limitations. They are not better or worse – simply different – that’s all. Forex trades differently than the futures – stocks are loosely tied to various market segment ETFs but the latter trade completely differently and have their advantages and disadvantages. Binary options sound like fun but require a win rate of over 50% for you to reach break/even. Futures offer leverage and require overnight margin – stock options are also highly leveraged but are what they call a wasting asset. All these different type of markets requires a different trading approach and it’s up to you to figure out which may work best for you. I personally like forex and the futures – but that’s me – I like things simple and I also enjoy trading 24×5.

The same applies to systems – many retail traders move from one system to the next – like nomads. They try their ‘luck’ with a promising one and at the first drawdown pull out and move on to the next system. Which is inherently the worst approach one could take as you keep taking drawdowns and then move on to another system, most likely during its earning period, which statistically speaking is prone to experience a drawdown in the near future.

Overcoming Emotions & Cognitive Biases

I have written about this subject in much detail in the past and if you’re familiar with my work you know that it’s an uphill battle. No matter how well you know yourself and how hard you work on it – you’re only one or two trades away from turning into an sobbing emotional wreck. It never ends and it’s a battle you will wage until the end of your days – and don’t believe for a minute that you are immune. The best thing you can do is to produce a system with iron clad rules and take yourself out of the equation as much as possible.

If you have a system then your entry happens in a very specific fashion and once you take that entry you already know when you will exit. I actually decided to not talk about stops anymore as they are an emotionally laden term. People equal them to ‘stop the bleeding’ or ‘stop the pain’. Which is another reason why I don’t talk about money or percentage even – I simply refer to ‘risk’ which is referred to as R – some trend traders call it N. You devote R (usually between 1% – 2% of your assets) to a position, set your stop (ahem) and then you walk away. Either it gets to target or it’ll exit at the point you require the campaign to end. If that sounds too complicated I can help – here’s a risk calculator for the futures and here’s one for you forex aficionados.

The rules are there to protect you from yourself. And that includes, me, you, Scott, Bill Dunn, Richard Dennis, William Eckhard, Ed Seykota, everyone. We are all flawed human beings and the less we are involved the better our systems are able to perform. In essence – give it enough time and we just mock it up.

Quantitative vs. Qualitative Aspects of Trading.

Nick Rage produced a great video that demonstrates how most people focus merely on the quantitative aspects of trading, meaning system development, campaign management, risk management, etc. As a matter of fact many of the views I present here are covered and I strongly suggest you watch it in its entirety. It also makes a point about trading systems on a long term basis which is another Achille’s heel of most retail traders.

This has turned into a rather lengthy post but believe me that I’ve only scratched the surface. Developing your system is actually the tiniest aspect of it all – the majority of your trading activities should actually revolve around managing yourself. Trading involves human performance and that performance can be objectively measured in terms of profit and loss. You cannot hide from your performance record, no matter how much you may want to mentally rationalize your losses. And since you are the most important factor in your performance, doesn’t it make sense to spend time analyzing yourself? The best traders do it constantly but subconsciously. So be one step ahead of everyone else and do it on a conscious level.

Let me conclude this with another Van Tharp quote (clearly I’m standing on the shoulders of giants today): Successful trading is 40% risk control and 60% self control. In turn the risk control portion is one half money management and one half market analysis (i.e. developing low risk ideas). Thus market analysis is only about 20% of successful trading. Yet most traders emphasize market analysis while avoiding self control and de-emphasizing risk control. To become successful, traders need to invert their priorities.

Happy hunting.

 


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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c

  • BobbyLow

    Absolutely fantastic post Mole. Even though you and Scott have discussed many of these things numerous times before, it still gave me goose bumps to read them this morning. I think I’ve fallen into most if not all of the pitfalls you so aptly describe.

    Because I have built in forgettor, I’ve printed this post and plan to read it once a week. I need to be constantly reminded of what my potential trading weaknesses are. They are always lurking and must be dealt with appropriately.

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

    A reprint from FEB 2015?
    well, it *is* a comment cleaner. and some things ARE WORTH REPEATING.

    Original Print –
    https://evilspeculator.com/evil_speculator_101/

    https://uploads.disquscdn.com/images/fb98987711892fe2ba0fde6c73b5aad5d1eeadf9d527644509b3367000fa1174.png
    -GG

  • Bankroft Papshoda

    Thank you for a stimulating pronouncement!

  • BobbyLow

    Looks like “There’s gold in them thar hills” this mornin. . . 🙂

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

    Thank You Mole for your dedication.
    something of which I believe cannot come from willpower, but fulfillment of your destiny.
    You’re impacting real people & real lives.

    2017 was a good year for Me & My Family.
    https://uploads.disquscdn.com/images/8c7a75fe5d189d50ce784cf666f24f40d69dcd311f6217eb80074ed3a4eb16fe.png
    -GG

  • Ronebadger

    Triple top? Bull Flag? Bearish Triangle? Bullish Triangle? Wave 5? Ahh, forget it…we’ll find out next year. Happy New Year, Everyone!

    https://uploads.disquscdn.com/images/4b9ee3b5cd5da88576d024ba46657a68e3bf97900fd7533d843db8db336f5552.png

  • https://evilspeculator.com Sir Mole III

    That’s awesome 🙂

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

    ..the dollar is getting soggy, so the ratio is looking up.

    http://stockcharts.com/h-sc/ui?s=GLD%3AUUP&p=D&yr=1&mn=0&dy=0&id=p67874146445

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

    Happy New Year to all. Thank You, Mr. Mole for your insights and humor. I love reading here every day. It brightens my day always.

  • ridingwaves

    Trump begging for inflation now….he is sealing the deal for CL getting to 70+.. The common folks are going to be sideswiped by high fuel costs while renters will be pillaged by the pottersville companies…..

  • Julie

    Thanks Mole for everything you do. I knew from day one when I arrived that I had a new home. Happy New Year Chief !
    JULIE

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

    70? No Way.
    then again, there is that gap from 3 years ago.
    😉

    Just need a few more Nigerian pipeline fires, and it’s A-Wonderful-Life.

    https://uploads.disquscdn.com/images/60216383e42633097827f04cd47e279bcea0c6102bcd03043d28778498f2bc78.png

  • Julie

    GG says it all Chief in his post below. Be safe Chief in Spain Be careful on your Vespa and heal up. We want our Chief around a very long time
    JULIE

  • Julie

    DOW SPX RUT Ramp the futures up just before the market opens. Then a gap up which is sold into for the big boys to distribute. Wash Rinse Repeat A very dangerous market. IMO be cautious. Happy New Year Everyone
    JULIE

  • ridingwaves

    that gap has been in my mind for a bit….Oil fix is perfect inflation creator and what the bankers want to continue bull markets in assets of all types

  • Julie

    Disclosure I still have a very small short position F 12.63 stop. GE a very small long position. GE a possible descending triangle forming and watching closely EXAS A bearish close on the 30 min chart below the lower cloud boundary and lower blue dotted trend line and I be a shortin … INTC Patience I maintain 47 was a top and looking to short a bounce to a lower high from a pullback to it’s daily 55 or 89 ema’s The breakout failure at 47 was very telling IMO. https://uploads.disquscdn.com/images/b0b14abe5117faf37d70a839d99c1325989662d11cea78f24b5dbac4bf7c0c33.png Shown EXAS daily chart JULIE

  • https://evilspeculator.com Sir Mole III

    Happy New Year to you and all my intrepid steel rats!

  • BobbyLow

    Julie, a couple of things I forgot to tell you yesterday when we were talking about ATR being an integral part of my system is that I’ve never used it trading individual stocks because I stopped trading individual stocks a few years ago. The other thing is that it has been mediocre at best with major equity indices.

    I have found it to work very nicely with most Commodity ETF, ETN, and Futures and it can work decently with currencies. I had to accept that my stuff doesn’t work with everything so I’m just sticking with what works.

  • BobbyLow

    Well that was a nice way to end the year as I got stopped on my long gold position for a +1.66R Gain. Looking forward to going into 2018 in cash and an open mind for Jan 2.

    Happy New Year Everyone! 🙂

  • Julie

    Great BL You found a niche and what works best. Amazing in the charts I posted yesterday AMZN and SPX with Bol Bands Keltner etc is that it gives an advance warning esp coinciding the % above and below the daily 21 .The Keltner has a built in ATR. BL You and your family Happy and Safe New Year
    JULIE

  • Julie

    BL I have a target 23.40 GDX The last three days including today selling followed by an intraday reversal. Today’s high 23.37 IMO weakening and I am foaming at the mouth for a pullback to go long. Want the pullback on light and decreasing volume
    JULIE

  • Julie

    GDX closing below it’s open. Gap ups to start the day which are sold into then a reversal. IMO definite profit taking
    JULIE

  • Benson Burns

    Top post thank you.. With a couple of systems in play that are performing pretty well at the moment the next step for me is ensuring I’ve got the right framework in place to survive when it’s not going so well. Currently reading Trading Psychology 2.0 by Brett Steenbarger.

  • Julie

    BAC Going against the grain guys a very small short position at the close. Daily PMO IMO has topped overbought where a previous decline occurred
    JULIE

  • Mark Shinnick

    Nice smoothness 🙂

  • Julie

    GG CAT this week and last week closes outside the 21,4 Keltner weekly chart. Dally yesterday and previous day closes outside the 21,4 Keltner on the daily.chart. Weekly RSI at 91.Since May 2016 all pullbacks have been contained within the weekly Ichi cloud baseline (21) ; Ichi cloud conversion line (8) and weekly 5 ema. Stochs 13,1 embedded weekly and daily charts. Unbelievable run ! The closes outside the weekly and daily Keltner 21,4 Well …. ! Shown CAT weekly chart Happy New Year GG ! JULIE https://uploads.disquscdn.com/images/de460adb587b6d33ea9d17b474c3a8e0c6ceb9f00f5ad7998f5e88fbf6d9f422.png

  • https://evilspeculator.com Sir Mole III

    You’re in good hands with Brett.

  • Julie

    CAT a second weekly chart. CAT A breakout above it’s weekly parallel channel. A false breakout i.e. a bearish close back below the upper channel matching it’s weekly 5 ema a possible short. I want to nail CAT short longer term JULIE https://uploads.disquscdn.com/images/5c8711bebc93dbd5e36c9d441212b9becc19fb0445802a83b8e8932d76cd56ef.png

  • Julie

    Volatility Index for $GOLD $GVZ Chart inverted and should track $GOLD. Some fear entering as $ONE:$GVZ is dropping as $GOLD is rising. As stated in a post below want a low and decreasing volume pullback GDX for a long entry JULIE https://uploads.disquscdn.com/images/93a62f9744796b8deab50c9d97a7a511f5c8bb4c7498cbfa9dddf1ba1cce50b9.png

  • https://evilspeculator.com Sir Mole III

    I fixed the Forex Risk calculator tonight – it’s now again dynamically pulling exchange rates if your trading account is *not* denominated in USD. Have fun!

    https://evilspeculator.com/Rcalc/

  • phylum

    Been away for a while so happy everything to both new and old. Just a couple of observations that may or not be relevant to to you. Gold, Aussie n Eu have been on a ramp. Dxy is suffering. BTC has been given the boot. An old friend, not to be mentioned but sorely missed, has always driven the point of the New Years opening range ….. It’s something to take note of, especially if the run up is simply a precursor to rotation.

  • Julie

    Anybody shorting homebuilders XHB ? Today a bearish engulfing candle closing below the daily 5 ema. Overbought with negative divergences RSI ; MACD and CCI. Target the confluence of the 55 ema ; lower channel trend line and price support JULIE https://uploads.disquscdn.com/images/7df8188553d505d840d543a95ba8520aece489982e486196a43aa5381f1e94f0.png

  • Julie

    XHB 44.17 is a strong support. A bearish close 30 min candle on the 30 min chart below 44.17 looks good for a shortsky … !
    JULIE

  • Julie

    XHB 30 min chart showing 44.17 (blue horizontal line) bearish below the Ichi Cloud lower boundary JULIE https://uploads.disquscdn.com/images/eb7da495a981fd77e658d9f99cb0cf0d34e00552b599c20fc706436ab4e9bc7c.png

  • Julie

    I do not watch tv Messing around with charts and setups. DO I have a target of 20 bucks. Today Friday a bounce off it’s daily 8 ema and near a support zone closing above it’s 5 ema JULIE https://uploads.disquscdn.com/images/4a308384beb8744e504b641f7c2872a35d3f151a9a583094a27f8bba366a3c99.png

  • Julie

    As per previous posts I have a very small short position F Target is 12.28 matching the daily 55 ema and a support. However will watch 12.41 as it is a support also JULIE https://uploads.disquscdn.com/images/f9c9237b80cb93f8f9c5b9447aac9ea3b26d9e5b82ca47e111b421f8dd30b236.png

  • http://www.ProfitFromPatterns.com/ Ivan K

    Howdy there … loooooong time no see … I sent you a SkyPe … you can also peek over my shoulder via Twitter … @Patterns_YKW … all the best to you and family also !! https://uploads.disquscdn.com/images/c0afc2795005b77524d209053ca732dea27a7494389cc3583607e850cd36906b.png

  • Julie

    GM is this a giant bull flag and falling wedge or a trend change with lower highs and lower lows ? Well the bearish close below the Keltner channel on December 14 and the declining 21 ema about to cross below the now barely declining 55 ema suggests a trend change. Also MACD below it’s centerline and signal line. Also price below daily Ichi Cloud and conversion line (8) below baseline (21) Strong support at 40.73 and a bearish close below ….. Not good. Also the Conversion line (8) has gone below the 55 ema with negative CMF. Accum/Dist is declining with the PMO below it’s centerline and signal line with a bearish kiss F is definitely the stronger Auto BUT …. Again watch 40.73 for a possible dead cat bounce A failure at 40.73 next support is 39.35 https://uploads.disquscdn.com/images/f27e910a245acf0e7408a14802765f627f94a55e3ac782429c35f3756a6246ba.png https://uploads.disquscdn.com/images/64db3b941c22f28c02183cf759681255b6a77df4266885b3f71169f8167d763f.png JULIE

  • Julie
  • Julie

    Chief When I came on board you wanted charts… Well I have posted approx. 600 charts LOL ! Can’t help it Mole. Chief and Everyone Have A Safe and Happy New Year !
    JULIE

  • https://evilspeculator.com Sir Mole III

    Just 600? You can do better in 2018!! 😉

    Thanks for all you do, Julie – you’ve really invigorated the comment section since you joined.

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

    as I said in the Summer.
    ” If a taxi driver practices 10,000 times, he’s still a taxi driver. But a very damn good one!

  • http://www.reddragonleo.com Red Dragon Leo

    Happy New Year Mole and gang…

  • https://evilspeculator.com Sir Mole III

    Just rolled into the new year over here. Beautiful full moon and warm temperatures here in Valencia – great transition into what I hope will be a profitable, productive, happy, and healthy new year. Which is what I’m wishing for all my intrepid readers and subscribers.

  • Julie

    BAC Possibly one more minor leg up watch approx. 29.34 for the grand finale bounce. Wedging in 3 wavers from December 7
    JULIE

  • Julie

    SLX A possible short setup for Tuesday January 2. It’s a runaway BUT ….. Friday’s candle print was a two day bearish Harami pattern. A bearish reversal candle on Tuesday closing below the upper trend line ; https://uploads.disquscdn.com/images/5009a69281b116700c04c295a085e9e930a957bcd16c8346d6987f4c77082a0b.png Friday’s low ; mid channel line corresponding with the daily 5 ema (5 ema not shown but is there) BE A SHORTSKY JULIE

  • Julie

    Hey Guys I very seldom drink . Tonight News Years Eve I have had a few shots of McCallens Scotch …… YUM ! Happy New Year Chief and Everyone ! Good Grief !
    JULIE

  • Julie

    SLX Weekly chart. A possible breakout point failure imminent ? Yeah ! https://uploads.disquscdn.com/images/0838f247492be6508bdb3cb707d5f32dc6970b3d44ae62facdaafd099010b7c2.png …. A triple top or a developing ascending triangle. Target the rising lower trend line matching the weekly 55 ema. If so short down to target then go long JULIE

  • Julie

    SLX Weekly chart. A possible breakout point failure imminent ? Yeah ! A triple top or a developing ascending triangle. Target for short the rising lower trend line matching the rising weekly 55 ema. If so short down to the target then go long JULIE https://uploads.disquscdn.com/images/0838f247492be6508bdb3cb707d5f32dc6970b3d44ae62facdaafd099010b7c2.png ng

  • Julie

    SLX A second daily chart. The PPO (1,21,1) is now at a % above it’s daily 21 ema where previous pullbacks have occurred. Seriously guys SLX is setting up for a nice SHORTSKY JULIE https://uploads.disquscdn.com/images/ed0fb36d8defbd437b97f84788fdafc56405405821cb9403b0cfc1782de337b6.png

  • Julie

    SLX If you do not want to short a possible pullback which I think is about to occur. Watch if there is a pullback to the rising daily 21 ema matching the gap window and the October high support. Watch to see if any pullback is impulsive or corrective. https://uploads.disquscdn.com/images/7a52401cf36ab42a3540ec0d2b95ac9dd8e7fb6341a75e7dcce084795570f5c5.png Indeed a very strong ETF . Nice OBV. SLX has been outperforming the SPX since mid November with a SCTR now 97.5 JULIE

  • https://evilspeculator.com Sir Mole III

    Happy new year, Julie!

  • https://evilspeculator.com Sir Mole III