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Well Positioned But Skeptical

Well Positioned But Skeptical

by The MoleMay 19, 2014

I’m a bit on the fence when it comes to equities today. Although this morning’s NQ entry (or the one on the spoos if you weren’t a sub) played out very nicely thus far, I’m not convinced that this isn’t just yet another fake out spike before it turns on a dime again. So call me positioned in the right direction but skeptical – for now.

This is the general thorn in my eye and it’s also present on the EUR/JPY: a pretty juicy divergence which however has not managed to exert gravity just yet. FWIW – there’s nothing divergent on my ST volatility and momo charts.

And that’s where I got in as per this morning’s evil plan – 1/2R at the second touch of the IP trigger this morning and another 1/2R when it pushed above 3600. On the spoos it also was an IP and I proposed the second half R above 1880.

Speaking of which – seems like we’re back at the 100-hour SMA and that is where we’re currently running into a bit of resistance. Let’s see how the EOD plays out….

Nice setups today but since I don’t see you leeches being active I’ll keep them all for my intrepid subs 😉


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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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