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Hitching A Bus Ride

Hitching A Bus Ride

by The MoleNovember 20, 2013

Forgive the late update but it made sense to wait out this month’s FOMC circle jerk. Now looking at the ensuing tape it’s quite possible we see acceleration here soon and I’m eager to find ways to hitch a ride on the right bus.

The NQ is actually already trading below a daily NLSL but it happened isolated yesterday and I wasn’t comfortable suggesting it. However, IF we close the session in the green then we’d have a bonafide Retest Variation Sell setup on our hands.

Same idea on the spoos actually although I’m not holding my breath on that one. If it happens then 1777 is where we pull the trigger. However one index is looking much more promising:


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That’s it for tonight folks – I’ve offered up quite a lot of AAA prime rib setups here lately and would quite frankly hear how you guys are faring. Please use the comment section – that’s what it’s for 😉


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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  • Heisen_Gerb

    Skynard..bearish T, Dec 02.

  • molecool

    Okay, who of you subs took the YM inside day setup today? 😉

  • Rightside_ot_trade

    No trade yet in equity futures, prefer to see the price excursions from news traders,
    looking for a trade duration of 1 to 5 days so waiting for setups after the dust settles

  • CorporalCarrot

    How am I doing? Well to use an old expression of yours “I’m short like a midget in a limbo contest”. 🙂

    Basically I traded my plan from earlier, set sell-stop orders at 15940, outright short limit orders at 16000 with a 16030 stop and a buy at 16030 with a 16000 stop.

    First two hit, second wasn’t stopped out, been riding the acceleration down. Waiting for opportune time to add. TP’d the first at 15900 even so I’m down to a normal position for me.

    On other fronts my gold short from a couple days back is massively ITM but got stopped out of cotton buy again which is 0 for two in cotton I’m afraid but as it was my first foray into that market only did it for peanuts. Will stay away I think in future the bid offer is very wide on the spreadbet contract compared to the equity indices.

    All in all, I think I’ve made 2 months profits in the last three or four days.

    To clarify the above btw, I in no sense think this is anything significant other than rejection of round number resistance after several attempts, and a normal healthy pullback before the Santa Clause rally begins. I would expect 1775 to be major support in the cash on the way down and if I ride my shorts that far will exit at that point.

  • CorporalCarrot

    I’m off for a pint of well deserved guinness, to offset my profits I’ve just got a £15,800 repair bill on my car which takes the gloss off a little.

    have a good evening all and keep it frosty.

  • Fearless

    Tomorrow’s probably gonna be a trend day – down. It’ll probably be a gap down and crap down. I’ve got my positions lined up for it, but with some hedged long calls just in case.

  • Dyellowflash

    Stopped out of AudJap, but no fault of mole as I had made that trade before Mole’s posting and should have taken the 20 pips profits off the table before FED-Shit hr. Nice short on EuroUsd and ES/WS, but overall for the day is 6 bucks profit after 20hrs of trading. Enough to pay for a movie ticket in Penang 🙂

  • molecool

    That many?!!

  • molecool

    “All in all, I think I’ve made 2 months profits in the last three or four days.”

    Yeah, that’s usually how it works. But in order to catch those days we have to show up for work every single day.

  • Heisen_Gerb
  • newbfxtrader

    Ha. Take a look at gbp/aud gbp/nzd etc!

  • newbfxtrader

    Thx Fearless. What do you see in your indicators that makes you bearish?

  • newbfxtrader

    Ha! you should have taken some of mine yest. Would have paid for a nice dinner.

  • tomek

    i did. also took pretty much every IP setup posted and some of the ones you didn’t share. stopped out of ZN, ZB, DX entries that triggered on the 18th and 15th earlier today for 2R loss. took the YM IP entry and got filled NKD (also IP-s) -both in green so far. what you share on the blog has been awesomely profitable for me, I’m by no means a success yet, but at least, first time in my life I feel I’m on the right path to making it as a trader instead of a sucker. This is thanks elusively to this blog, your work and all the comments, to me they’re almost priceless 🙂

  • Skynard


  • Skynard

    AUD for a bounce Long

  • Sean

    The hourly looks like it is trying to bottom, but the daily and weekly still look like they are pointing down shifting my bias to further downside risk… ideally I’d like the lower indicator to paint a positive divergence on the hourly on before speculating on a short term bounce… the 100d and 25w sma are just a little ways below and look like they might be a better spot to put in a long with a stop below (and maybe flip?)…

  • Sean

    Although the 5m – 30m look promising… guess it depends on how closely you’re watching…

  • Skynard

    Got the H&S that I mentioned and hit my target of .9240. Did not think it would, did not stick with my original plan. Perfect set-up to suck in some bears to rip it. It is a long now.

  • newbfxtrader

    Booking profits gbp/aud eur/aud for now. Will renter on breakout above 1.75 and 1.46 respectively.

  • newbfxtrader
  • CorporalCarrot

    Dow sitting at the precise inflection point at 15945 from which I was covering shorts the last few days and reshorting at 16k. Bbands on short time frames insanely narrow. Coiling for big move. Remember guys Bullard speaking at 8.00 est and payrolls at 8.30. Don’t get caught. I have removed stops from my positions and left orders at 16k for a stop run spike.

  • CorporalCarrot

    Jesus the BBs on the 1 minute are insane. Mm’s going to blow this up one way or another this am.