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Intra-Day Update – Shorting LVS
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Intra-Day Update – Shorting LVS

by MoleSeptember 26, 2008

Since Mole has been stepping up his game on the blog here since the “crash” in his clout, and I am sitting on heaps of cash since about 10:00 this morning,I have been watching LVS for a re-entry here lately.  I grabbed a nice short position on the 19th, right before close (illustrated by the blue circle).  When LVS was up nearly 6% today while the markets have been churning around their bottoms, I found a nice entry.  LVS had poked outside the 2.0BB on a very small timeframe, and had pushed into the proper fib retracement levels.  I grabbed a partial at the second blue circle on the chart.

I am eyeing the OCT 35 Puts…

I am waiting for a break in the orange uptrend line before I grab the rest of my position, and I thought I would put it in front of you too.  I checked yesterday, and a 10-day ATR on LVS rung in at 4.57, yes, roughly 15% a day.  Boys, it is a mover, and the front month IV is fairly high.  IF it moves in our direction, you need not worry, but a move against you will likely push your limits.  Follow me into the Abyss at your peril….I’ll see you at the gates!

Skål!


About The Author
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 various social media waterholes below.