E-Mini Swing Trading

Discretionary Trading

System Trading

Market Outlook

Education
Read More
How To Pick Great Entries Like A Pro

Read More
Size Matters

Read More
A Legion Of Losers
Editor's Pick

How To Pick Great Entries Like A Pro

Size Matters

A Legion Of Losers

Everyone Is Confused – And We Like It That Way

Was This The End Of The Crypto Bull Market?
Popular Now

Realized Versus Implied Volatility

How To Recognize Trend Reversals

What Does It Take?

Let’s Talk About Gamma Risk

What Would Socrates Do?
More
Option Theory Option Theory Tape Reading Tape Reading Machine Learning Machine Learning Crypto Crypto Trading Psychology Trading Psychology Quant Quant Trading School Trading School Retail Trader Tales Retail Trader Tales
Trading Floor
VIXen – How To Swing Trade The SPY

How To Catch A Dog WIF Hat

Read More
Everyone Is Confused – And We Like It That Way
Editor's Pick

VIXen – How To Swing Trade The SPY

How To Catch A Dog WIF Hat

Everyone Is Confused – And We Like It That Way

Wait For It!

Never Argue With Price
Popular Now

Friday Road Map

Living Inside a Broken Clock

Long The Dollar

Knock Out Gaps

Insanity
More
Statistical Trading Statistical Trading E-Mini Swing Trading E-Mini Swing Trading System Trading System Trading Discretionary Trading Discretionary Trading
Services
Contact
Join As A Member

Sections

Now Reading

Not So Fast 2.0

265

Not So Fast 2.0

Not So Fast 2.0

by The MoleJune 10, 2009

10:50am EDT: Program trading into the close yesterday indicated that something fishy was going on. The tape had melted higher slowly, further exposing the bears to the good ole’ boiling frog treatment. Trip trip trip.

Call me cynical but it seems that the people in the know had an inkling that the 10-year treasury auction today would go to hell in a hand basket. So, let’s bang the tape higher and follow up with a nice sell off. Buy the rumor – sell the news.

Of course all that is complete gossip and hyperbole – nobody really knows – unless you are on the inside of course. So, we have to stick with our wave count and what I’m seeing right now is that we stopped short of the green confirmation line at 951.69, which in a way sucks as I would greatly enjoy abandoning this region of pain.

This far the tape seems to have all the characteristics of a down day – a channel breach of that lower line shown in the chart above would be a nice confirmation.

About The Author

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

Copyright © 2024 Evil Speculator, All Rights Reserved.

**Disclaimer** The information provided on this website, while timely, colorful, and accurate, is not to be taken as financial, legal, tax, psychological or any type of advise. The purpose of this website is to track the progressions of human herd psychology as it is reflected through several financial markets. Any commentary on this page, however useful it may be, is used for illustration, and to inspire thought provoking discussion, and not to be taken as specific trade recommendations. Testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.
We are not endorsing any site or service, nor are we promoting choice examples as real-life trades. If it sounds sarcastic, it probably is and if it offends you, just don't read it. There are tremendous inherent risks in attempting to trade any market using any vehicle, particularly if it is leverage. Please contact your broker to explain all risks involved in the vehicle you will be trading and any questions you may have. Please consult with your own financial advisor before you tempt fate by following our evil speculation.

**Risk Disclosure** Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.”

**Hypothetical Performance Disclosure** Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.”

Compare