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650 Or Bust

650 Or Bust

by The MoleFebruary 27, 2009

UPDATE 9:19am EST: I just got up and checked my ES futures chart, which at the time of me writing this is trading at 734. Even if you factor in the PREM I expect the SPX to open beneath its November 21 low of 741.02.

UPDATE 9:36pm EST: November lows have been breached. Get ready to take partial profits as I expect us to push into Minor 4 of (5) in the near future – could be today, could be tomorrow but it’s good to take some of it off the table.

The gates of hell are open for business. Hey, mouth breathers – remember how I promised you on September 18 that my revenge would be cruel and merciless? I was NOT kidding.


UPDATE 9:45am EST: Okay, you guys knew this one was coming:

It’s going to get extra evil in the lair today. Now seriously – time to post a chart to keep you rats happy:

This officially takes out that damn triangle scenario – RIP. Yes yes – we knew that much but in EWT this is the official confirmation. I expect us to retest the 741 level once more before we complete {v} of 3 of (5).

UPDATE 10:00am EST: What really excited me this morning actually is that Silver is staying put:

Gold has retraced a tiny bit but is also not running to breach 1000. This confirms to me that precious metals have topped. I have not lost a dime on those Silver puts this morning – sweet.

UPDATE 10:08am EST: I just reloaded a little bit on the 741 retest. Puts were cheap and after this morning’s boost to my portfolio this is just play money πŸ™‚

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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