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Merciless Monday Rub Down

Merciless Monday Rub Down

by The MoleJune 22, 2009

Boy, the zero really nailed it today:

Only critisism in book is the developing divergence this morning which turned out to be a non-starter. The PZI got the best entry it could, considering that it enters after completion of the first candle – it’s getting an A+ for clean signal today.

Program Trading Report:

evil.rat/ES: + 12.25
evil.rat/NQ: + 15
resident.evil/ES: +12.5
resident.evil/NQ: +13.25
geronimo/ES: -6.25

I’ll be in touch later most likely – still feeling that bug in my head – need to catch some zeeezzz. Hey, not a bad day today, that was fun!



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!

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  • dullmind

    Yes it was.

  • molecool

    Glad you enjoyed yourself, tough guy…

  • Keirsten

    HAHAHA! That NYSI ought to look really pretty this afternoon once they post it. 😉

  • pricey

    Go to bed, rest, get well.

  • annamall

    Yes it was bears! Feel better Mole-ster

  • Count_de_Monee

    Sometimes in life things that are seemingly bad actually happen for a good reason.
    Had I not missed my flight last Friday I wouldn't have gotten short as my limit order at 930 (SPX) would not have been triggered.
    But since I missed my flight I had plenty of time to sit in my hotel room and went short near the close at 922.5, covering today around 896.

    Boy am I glad i missed that flight 😉

  • Duuuuuude

    Maria Buttaromo looks like she has been crying. I think her mascara is smeared.

  • standard_and_poor

    Jimi has held onto his puts and shorts for over-night.

    For river rats:

  • Iguanadon

    Did somebody swipe her bag of Oreo's?

  • trendarchitect

    So the scenario drawn out a few days ago is actually becoming a reality.

  • springheel_jack

    Nice call. Like your blog.

  • C C Rider

    Give up now shorts and we'll spare your life. Three indicators I'm watching are all flashing buy. And remember, I'm a screamer!

  • MyLifeMyTrade

    All the indices are flat AH.. but all the tickers I follow are nicely down – RIMM, AAPL, GOOG, BIDU, OIH, FCX, AEM – all nicely in red.

  • MyLifeMyTrade

    May I ask what indicators are they?

  • DavidDT

    “It's amaziiiing! CEOs said we fiiiine!!”
    What a dumb broad

  • DavidDT

    that was pretty much what I was watching

  • anotherone

    I'd like to run something by the assembled rats. In one of Karl Denninger's posts, he mentioned the idea that a good portion of the S&P 500 would get crushed by unfunded pension liabilities when the market tanked. So, in addition to buying SPY puts, I'm looking at buying puts on some of the following with the idea that at worst they'll fall with the SPX, but that some of them might have to reorganize through Chap 11.


    What say you rats?

  • T. Waffle

    Just got lay-off today, from tomorrow T.Waffle will be full time trader. Wish me luck guys. This is the real opportunity for me and I need to prove that I can do this full time.


  • anotherone

    Sorry to hear about the lay-off. What industry were you in? If you can hold on for a few months, you can retire from the proceeds of Primary 3.

    Good luck.

  • Count_de_Monee

    The Money Shot.
    This is how we'll feel if we nail primary 3 and play it right.

  • DavidDT

    “The Last Resort” theory

  • DavidDT

    If I may – this is what you have to do first:
    do NOT trade at least few days, give yourself some room to adjust (it sure IS different – paying bills with trading).

    GOOD LUCK and A LOT of PATIENCE (I noticed you might need that 🙂

  • Keirsten

    Sorry to hear that TW- I remember when you got hired. This will sound so cliche, but it's been so true in my life; one door shuts, another one opens, and I'm certain that will be the case for you. You've got a good trading system in place already so I'll be pulling for you to make us proud! 😉

  • T. Waffle

    I was in investment management.

  • T. Waffle

    Thanks David,

    About being patience trust me I have tone of patience. I do minimum trade and i don't try to chase the market. I set my targets if it gets hit I take my trade or else stay on sideline.


  • T. Waffle

    Thanks Keirsten,

    I will make you all proud. 😉

  • molecool

    I'll do my part – just keep enough coin on the side to ride Primary{3} all the way.

  • springheel_jack

    Good luck TW.

  • StainlessSteelChicken

    Sorry to hear that mate, hopefully this is a blessing in disguise. You're a good enough trader that you'll probably make more $$ this way.

  • molecool

    Write yourself a sign – one word: DISCIPLINE

  • MyLifeMyTrade

    Guruji – very sorry to hear this. But trust me this is *the* opportunity of your life. I will share with you a real life transformation that I am witnessing. You will do great. I know you will… you know you have to make it work… A year from now you will look back and say that losing your job was the best thing that happened in your life. I just hope that you have a green card OR are a citizen now.. so that you dont get stuck with the visa issues.

    The guy who I rent a house to, he lost his job last August. He is on unemployment benefits right now. That and what his GF gets, they are able to cover the rent somehow. Now without the job, the guy has all day and night to himself – they dont have any kids either. He is writing a software which I believe is a niche product and WILL generate more than a million dollars in sales. He is almost done with it and he has a couple of school time friends, one is a TV talk show host and the other one has a show on radio. They are gonna promote his software – so he gets pretty much free marketing. He has been able to do this only because he lost his job. If he had his sucky job, then he would never be writing this software which will probably free him up for life.

  • Count_de_Monee

    Tough luck T, or maybe not.
    Remember my missed flight story from earlier. It may be a blessing in disguise and you'll thank God you stopped working there.

  • molecool

    Is everyone just pimping their own blog here now?

    Jeeezzz – this is the first time I see this guy post here…

  • T. Waffle

    Thanks MLMT,

    I have GC and will be applying for citizenship soon. So no visa issues. I am taking this as an opportunity to achieve my dream.

  • T. Waffle

    I am hoping for that too. Let's see how things works out.

  • T. Waffle

    Thanks bro. for all your hard work and support.

  • Count_de_Monee

    Yes, so true. THE most important part of being a good trader is discipline which is why I'm not a good trader and sometimes let emotion blow my positions to pieces.

  • T. Waffle

    Thanks CDM

  • molecool

    At least somebody cares. Thanks babe 🙂

  • T. Waffle

    Done! with following.

    “Be right sit tight”
    “Aim small miss small”
    “Let the market come to you don't chase it”
    “Patience pays well”


  • ropey

    never a truer word said – easy to say, hard to master and it only takes a couple of shitty trades to take you out the game if you're not careful.

  • springheel_jack

    Richard Russell (Dow Theory) now does not expect the $TRANS to confirm the May 8 high in the Dow & if not, we do have a Dow Theory sell signal. $TRANS closed at 3069.56 tonight & would need to rise 11% to confirm a close over 3404.11. He expects new lows to be made in this break down. Not sure I agree, but he could be right.

    A couple of charts to think about. The first is the SPX daily showing that the RSI has broken below 50 for the first time since mid March. Good long term indicator.

    The second is the weekly SPX with a potential inverse H&S forming. I've also marked the stochastics at the top which were better indicators of tops in Jan & last Aug than they were in April and May for the bear traps we all recall. It has broken decisively down now though. 5,3,3 full stochs as my annotations obscure the text on this timescale.

  • tranchefoot

    Best of luck, T!

  • springheel_jack

    Careful CC, lots of indicators flashing sell here. Don't bet the farm on the rally resuming anytime soon.

    If you do go long & it doesn't work out, we will probably retrace hard next week.

  • ckeltner

    Good luck!

  • isaiah64v4

    I know that feeling all to well. TW… I thought you just switched to this company last month [or maybe April]?

  • nummy

    my 3 cents (inflation)

    if we dip lower tomorrow then this minuette wave 3 we finished today might actually be a minute wave 1 since minor wave iii might be an extended minor wave i. yeah, i was bored ….

  • Fujisan

    I love your motto, Waffle.

    Best of luck! I'm sure you will do great!

  • newbear

    All the best to you.


  • Vladz

    Today's: $TICK
    – $TICK of 639 was the lowest High $TICK of the day since Nov 12, 2008
    – $TICK of -1415 was the lowest Low $TICK of the day since May 13, 2009
    – 6th lowest ($TICK.high + $TICK.low) this bear market

    Well done bears….. I was on the sidelines watching “shoulda coulda woulda'ing” and scalping euro and gold

  • MyLifeMyTrade

    Wow.. tech stocks taken to cleaners in AH – AAPL down almost a buck (and no it is not a bad tick.. it gradually slipped 1 dollar)

  • butterstick

    Sorry to hear it T. I got laid off a while back as well. Best thing that ever happened to me. Got a job with more pay at a better organization.

    Happy Trading!

  • C.C. Rider

    I'll take that under advisement. You be careful now too, hear.

  • C.C. Rider

    You're a novice right?Please tell me so. After hours has noo meaning and will only entice the newbies. Are you a newbie?

  • C.C. Rider

    Discipline. Will YOU know how to exercise it when needed. I think not.

  • Fujisan

    Hey, CC Rider,

    How do you have two different avatars at the same time? Or is there a red rider and a beige rider out there? (sounds a lot like power rangers with different colors?)

  • TomOfTheNorth

    Hi Fujisan,

    I hope you are well. Excellent work on your weekend option post. Could it be that my time has finally come?

    Best regards,

  • http://es seawolves

    fujisan do you expect 88.42 spy tues. or wed. ? thanx

  • ausdude

    Hi Mole,

    Thanks for all the charts and the very early warning to be prepared for a great opportunity.

    I have been following your posts/comments constantly, but I am still a tad confused.

    In regards to your post from the weekend:

    Anyway, you do NOT want to miss this one – which is why I keep pushing you all to not get sucked into putting all your focus and capital into trading the short term gyrations (which are erratic anyway). Even if you miss the Primary {2} top by weeks (whenever it happens) simply buying long term puts in a low volatility environment and holding them for the next few months will probably set you up for life. Don’t miss this one – this is a one time in a generation opportunity – I hope I made myself clear.

    Has the time to load up heavily for this come yet? My impression is that it has not. Am I getting this right? I assume, with your Dec SPY puts, you are only a fraction into your position.

    Thanks in advance..

  • MyLifeMyTrade

    I am a newbie compared to most here.. I have been investing for many years.. trying to trade for little over a year. Every day I come in thinking that I get it and at the end of the day, I end up feeling like a newbie/novice.

    I do understand the implications of AH price move ments… I can look at the AH price chart and tell you if it is significant or not. Often the AH chart shows spikes or steps which means that there was a trade here and there.. However, there are some AH charts where the price continually trends up or down .. in this case, there is a possiblity that AH might have something significant and warrants further research.

    In this case, AAPL fell in latter category..  I went ahead and checked the volume.. 1million shares in AH.. that is more than 4.5% of today's volume.

    The reason I posted about AH action is not to jump in buy right now.. but with all big tech names down, may be something is up.. may be some tech related news came out or some such thing.. thats all.

    So, to answer your question.. Yes, I am a novice and a newbie compared to most out here. But I am striving to become better each day. So, there you go – I did tell you that I am a novice.

    Inspite of being a newbie, I will offer you a piece of advice… Making such highly general statements like “afterhours has NOO meaning” is harmful for your trading psyche. Thats all I have to say.


  • MyLifeMyTrade

    LOL – just got some spam mail about penny stock (well the newsletter is lying that it is a penny stock)

    This is just for fun.. Please note that I am not recommending anyone to go and buy this..

  • molecool

    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸

  • molecool

    I think I have been very verbose on the subject – please read the last three Sunday forecasts. As per my book – I took some Julys off the table today. Will hold the Decembers until I KNOW that this is not {3}.

  • GrooveDaddy

    Yes MLMT! Great observation. Actually when AAPl moves over 500k after hours, it will probably stick the next day. And, over 1m after hours cements it usually. I also agree with CC in general, but that is some pretty significant volume AH on AAPL. I am taking the day off tomorrow to celebrate my BDAY so I wont be around to watch.
    Good luck.

  • Keirsten

    MLMT- I was meaning to say this to you last week, but just never found the time/place to do so, but here goes: During the months that I've read your posts and watched your trades I have to say you have made an incredibly great turn-around in trading style and mental approach to the whole game. For me at least, it's been a lot of fun to watch you evolve into the trader you've become. Now… that said, don't let it get to your ego, as we both know there's no room for ego in trading, but I just had to give you props from my vantage point and where they are due. Your humility and willingness to share it is possibly one of the top qualities of any good trader.

    P.S.- AH price/volume actually does matter on specific stocks, particularly during earnings season. When we get back to the full swing of earnings, there's a little trick I'll share with you that was taught to me having to do with the entire AH/volume scenario for your tool box. 😉

  • MyLifeMyTrade

    Happy Birthday 🙂


  • Keirsten

    You've got plenty of support over here- so nice to see, but really shows the quality of the person (you) in mind. I'll be sending plenty of good energy your way my friend as the days unfold.

  • DavidDT

    not to mention that if entire mishpucha of stocks selling off post/pre market on higher than avg AH volume – it just cannot be ignored …I'd better stop now or CC will call me novice – which I am and will be till I die 🙂

  • Fujisan

    I'm expecting sometime tomorrow and possible reversal. Let's see.

  • Fujisan

    Thanks, Tom. It's nice to see you. You should make a comment more often.

    I'm expecting one more leg up before it finally goes down, and my target has not changed, and it's still 1150 if 850 level holds.

  • woewoe

    Good Luck T. Waffle, I lost my job at Fidelity Investments (Telecommunications Mgr.) a couple of years ago and have been doing nothing but full time trading. I've learned a lot but still have a lot to learn. I finally look forward to getting up every morning, getting my coffee and going to my office to start my trading day. Some days I don't make a trade but I'm always learning something. When one door closes another door opens. Usually bigger and better.

  • MyLifeMyTrade

    Go for it Guruji – we as humans always underestimate our potential. Whatever you believe you can do, you are capable of doing way more than that – keep that in mind.

  • thelefteyeguy

    he has 2 different log in

  • Keirsten

    Stick me in that category too David. The more I think I know, the less I know. 😉 And just when you think you know it all the market has a sneaky way of teaching you a lesson.

  • DavidDT

    870sh then 919

  • springheel_jack

    Always worth living to fight another day. LOL.

    2009/6/23 Disqus <>

  • springheel_jack

    Always worth living to fight another day. LOL.

    2009/6/23 Disqus <>