Now Reading
Last Chance For The Bears
97

Last Chance For The Bears

Last Chance For The Bears

by The MoleOctober 12, 2015

Exciting times lay ahead ladies and leeches! Equity futures have now progressed to our final inflection point near the 2k mark, it is right here where the grizzly bear may hand the torch back to the raging bull from hell. As in all things timing will be of essence and being proven right tomorrow doesn’t mean much if didn’t get positioned today. As of right now there’s little movement in the futures but DarthMole suggests that volatility is just about to explode on the S&P E-Mini. So what the heck are we waiting for?

2015-10-12_spoos_LT

Well, it never hurts to consider the long term picture as well. Which I may add is what got me pretty jazzed up this morning. As you can see both the weekly and monthly panels have us pushing into Net-Line resistance right now – we have a daily NLBL at 2011.75 and there’s a monthly NLSL at 2013.5. That, my dear market maniacs, will be the final chance for the bears to inflict some major damage and run the tape all the way into the new year.

2015-10-12_zero

Quite frankly I have grave doubts that they’ll muster the mojo. See above the Thursday and Friday sessions courtesy of the Zero indicator. Very little bearish evidence here – the bulls ran this thing higher per the book. But – that said, when presented with an inflection point of such magnificent proportions I consider it my patriotic duty as passport carrying flag waving pistol touting Ketchup squirting red meat chomping cheesy t-shirt wearing paranoid American citizen to speculate the living heck out of it and then brag about it later to everyone willing to listen.

2015-10-12_spoos_setup

So let’s see what we got on the menu today. The daily and hourly panels are a bit in limbo now which is what most everyone is usually looking at. Good – more hapless victims for the taking. Thus my devious plan for today is as follows:

  1. I am short right here with a 1R futures position. In addition I’m grabbing some OTM lottery ticket puts on the spiders given that the VIX is back at 18.5.
  2. All bearish allusions pretty much hit the wall around 2013. My stop is a bit above that but if hit I may consider re-entry if I see sudden weakness. So watching the Zero for divergences will be essential. <shameless plug>If you’re not a sub just yet then I strongly recommend you spring a few bucks and join the club.</shameless plug>
  3. Long positions are a go above 2013 if I see bullish momentum on the Zero.

More goodies below for my intrepid subs:

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and 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.

Please login or subscribe here to see the remainder of this post.

Cheers,

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
PayPal: https://paypal.me/evilspeculator