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Leading Cause

Leading Cause

by The MoleMarch 30, 2009

UPDATE 2:15pm EDT: Not surprised to see us push up now – there was a strong divergence in the NQ vs. the ES about 15 minutes ago. I didn’t cover my short – sick of turning into a daytrader – playing the futures is enough. Could however just be a B wave to the upside – as I said, we need more than just a one-day Minor 2 wave.

A bit of a pain in the ass tape today. Looking at that SPY chart we’re in a weird spot right now – a lot of air above and if we push back I’d be heading to the hills probably. I don’t feel like loading up on the long side here – SPX around 770 for me is minimum, which would also be roughly a 38.2% retracement.

BTW, Zero Lite painting good signals today – kept us in the trend so far.

UPDATE 3:15pm EDT: One always wonders where those sudden long green candles always come from. Lovely to see 30 minutes worth of downside price movement being taken out in 2 minutes. Your tax Dollars at work, rats – LOL πŸ™‚

I think we’re back to re-testing the VWAP – this shit is getting old. Seriously, the only real price action we’re seeing these days happens overnight – and then you’ve got to take a coin toss as to the direction. I’m not complaining though as my puts are doing pretty well even during the spikes back.

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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