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Pulling The Trigger
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Pulling The Trigger

by The MoleSeptember 30, 2011

I got a Friday afternoon setup in the spoos for everyone – the setup is too juicy.

I just can’t help myself – although the odds favor the other direction right now there is MINIMAL risk in taking this trade with a stop just a few ticks away:
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Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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This is really very simple. I’m going to take a long position here expecting to get stopped out just a few ticks away. My stop is somewhere below those two hourly BBs – where I won’t tell you as I don’t want everyone to use the same stop and attract the bots.

Zero subs: For your convenience I have also painted a support line on the Lite.

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Again, this is a low probability but high return setup. If a miracle happens and we bounce here then it’ll ensue a short squeeze. Suffice to say that I will be out of this trade one way or the other by 4:14pm EDT.

Alright folks ZERO EMOTION here, okay? Either we get stopped out by a few ticks (highest probability scenario) or we make a bundle. So put that trade in, set your stop and then just forget about it until the session closes.

Cheers,

Mole


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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  • https://evilspeculator.com molecool

    I got VERY close to getting stopped just now – phheeewwww… well so far it’s holding.

  • Wave_Surfer

    hm… fake out or break out.
    I was wondering if you were taken out.
    I am trying to decide if I should hold my shorts over the weekend.  1 hour 5 min left in the month.

  • http://practicalt.blogspot.com/ Gold_Gerb

    Kurt Cobain cowboy.  poser.

    about another hour left in this pig market.

    Quarter End.

  • Tronacate

    Grabbed a little TNA for a possible bounce…..closed all shorts but FSLR

  • Anonymous

    nice down move in HG just now

  • Schwerepunkt

    Imagine we might see a 2-handle on Copper next week?!!!!

  • http://profiles.google.com/acabrera768 andres cabrera

    getting tighter….

  • Anonymous

    “attract the bots”….that’s funny!

  • omelette

    omelette not so fortunate 🙁

  • http://thebhbgroup.com TheBHBgroup

    in with you on this one …..let’s roll!

  • Anonymous

    Vicious sell off on the horizon.

  • Anonymous

    rule number “$*°°à54| – NEVER TRADE MONTH END!!!

    Have a nice week-end!

  • Anonymous

    I’m still seeing lower lows and lower highs, and a walk downstairs….ZL seems to be walking as well

  • Fearless

    I am getting some puts to protect my long stocks against a crash. They can’t close this above the 20 month MA and it’s concerning.

  • Anonymous

    check out EUR/GBP

  • Anonymous

    Don’t forget – The government’s budget ends today…right?

  • https://evilspeculator.com molecool

    And… I’m OUT. Sorry folks – it was a good setup but with small odds.

  • Anonymous

    Still hanging in there

  • Tronacate

    bummer…..hope everything works out…….we’re all in this together

  • Tronacate

    I don’t trust this bounce……short covering to close the weekend?

  • http://practicalt.blogspot.com/ Gold_Gerb

    bear profit taking.

  • TwinTurboRX7

    Mole,
    The Zero Hourly, have ascending bottom peaks from yesterday. Is it something reliable?

  • Tronacate

    yippers…..

  • Tronacate

    Look at how quickly that bounce got crushed…..wow

  • Fearless

    No worries, if we crash (low probability), I sell my puts at good prices and still hold my long dividend paying stocks. If we go up from here, my stocks go up and I still get dividends.

  • http://practicalt.blogspot.com/ Gold_Gerb

    /ES 1130
    Red Dragon called it a few days ago.

  • Schwerepunkt

    Ruh roh, new lows.

  • https://evilspeculator.com molecool

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

  • volar

    Q end especially

  • Anonymous

    I’m out

  • Tronacate

    bummer…….

  • https://evilspeculator.com molecool

    Well, that’s how she goes. We move on. Can’t win ’em all.

  • jigdaddy

    Fearless, mind if I ask what dividend stock you like?   TIA!

  • http://pulse.yahoo.com/_QNMYHL4YRBJHTMPXMHWSDNAYQA QTMedia

    Are you still holding on to your ultra bullish scenario – seeing as we are holding above the lows and haven’t crashed yet?