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Full Metal Alchemist

Full Metal Alchemist

by The MoleJuly 17, 2009

1:55pm EDT: Alchemy is a secret art which I’m using to get a leg up with my ZG futures trades:

I seem to have competition lately however:

Remember this chart? Well, that sideways channel used to act as resistance on the way down but magic Goldman/CNBC alchemy has turned it into support now. This is a line to keep in mind – assuming you are a bear and are hoping to enjoy a better exit for your puts. Meaning this line will have to be breached and I expect it to be heavily defended. At this stage however I take the few downside handles I can get my greedy paws on.

So, paranoid as I am it occurred to me of course that we could be pushing higher here and then drop into a fourth wave – the bottom of which might be around this 933/934 line.

So, continuing my mental masturbation I drew some fib retracements from the bottom of this leg all the way to my projected target of 952.5. Guess what – an obligatory 23.6% retracement would get us to 932.5.

Sorry for ruining your weekend – hehehehe πŸ˜‰

2:52pm EDT: Another one:

This seems to be our little daily micro channel for today.

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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