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Running With The Bulls
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Running With The Bulls

by The MoleJune 6, 2012

No, I didn’t go to Pamplona to see the bulls run – yet – will have to wait until July for that. Meanwhile all that was needed for a stampede was a good ole’ fashioned VIX Buy Signal. Which by the way all my subs were briefed about yesterday afternoon before the close:

That was yesterday’s setup. The rules stipulate that we require:

  1. A close outside the BB.
  2. A close back inside the BB.
  3. A close below the second’s candles’s close.

You simply inverse the rule for a VIX Sell signal. And as you probably guessed it the rule refers to equities and not the VIX. For more details please confer our handy cheat sheet. The result of yesterday’s signal?

If you were a sub I hope you got positioned early and pyramided your way up. However, I would like to caution everyone about overstaying your welcome. Its very much possible that we push higher from here but there is resistance on the horizon and after a big candle like today it’s best to take at least partial profits.

Exhibit A – although we are not yet at our handy volume hole there appears to be resistance at a diagonal resistance line which appears to be part of a falling diagonal. If we breach that then the bears next major line of defense is 1330.

I said ‘major’ because exhibit B (i.e. our Net-Lines chart) shows us a NLBL at 1319 – a touch of which would confirm a breach of that diagonal I pointed out above. Not a bad spot to get long if we breach. If we do not breach then I would not be tempted to go short there as the prior diagonal would most likely act as support.

Exhibit C is my RSI_EMA chart which has us back at yet another diagonal resistance line – this ought to be interesting! Again, if we breach it I think it would shift the dynamics of the game back to the longs. Until that happens the bears have a decent shot here.

And finally Exhibit D – the VIX once more. The updated chart shows us near that 25-day SMA which has been serving as support. A breach below would also coincide with resistance breaches on the prior charts, so what happens here right now seems to be important – apparently we are at an inflection point.

Exhibit D – our weekly spoos chart perspective reconfirms the 1330 resistance cluster. Which would be our next best chance to consider a short trade. Let me however point out that I am very binary about being short here – as soon as we breach higher just a few handles it is very likely that we get to first 1319 and then 1330. If we breach 1330 then the bears are going to need a lot of vaseline. This means that I will use very tight stops until 1330 and if we get above flip back into delta positive mode.

If that was a bit confusing here it is in a nutshell:

  • Possible short here with a tight stop a few handles higher.
  • Resistance at 1319 but I would not go short there as support will loom nearby below.
  • Possible short at 1330 – assuming we get there – again a tight stop a handle or so above.
  • Flip that sucker if we push beyond 1330 – back into delta positive mode.

Target Updates:

Soybeans – that was a nice inside day setup the other day and it’s time to get out and call it a trade. I may try a short if we get a retest of that NLBL, which also seems to coincide with that 25-day SMA.

EUR/AUD – three sessions ago we tried a little short at the NLBL and are now at target, too much support looming below.

AUD/JPY – another inside day entry we took a few days ago. Also at target and it’s permissible to take profits at the NLBL. But I may actually hold a few positions at the prospect of a continuation higher. Obviously what happens here at the NLBL is key – I’ll give it a day but have a stop a few pips below.

Still In The Running


Cable – clean inside day setup and it tried to fake us out. I bent the rules a bit and took the breach a day later (i.e. today). If you happened to be so lucky then there’s nothing to do for a while it seems – unless of course we get stopped out.

CAD/JPY – another inside day setup that’s making me smile today. Nothing to do here until we reach that NLBL which should serve as our target.

And of course I kept a few goodies for my intrepid subs – please step into my air conditioned lair (it’s hot here today):

[amprotect=nonmember]
More charts and cynical 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.
[/amprotect]
[amprotect=1,13,9,12,5]

EUR/JPY seems like a decent short trade here until of course we close above 99.456. So if I get stopped out I’ll strap on my helmet and flip that trade. I actually think the odds here are 50/50 for either direction so don’t get married to your position. When it comes to trading it’s best to be promiscuous – so feel free to release your inner slut 😉

AUD/JPY – the chart marks it as a good short but since I typed this we are back above which flips it into a good long trade if we close above 78.332. today

That’s all for today – I know meager pickings but heck – it’s better than a kick in the shin 😉

[/amprotect]

Cheers,


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

    first?

    quick, think of something deep.

    EDIT: VIX buy signal, ah that’s what Mole was talking about (give away the store)

  • newbfxtrader

    Thx. So far so good on FX setups Mole. I took the cad/jpy and eur/jpy. Aussie already had some longs in the red looking green now!

  • StrikeFirst

    Personally, this post provided me with a lot more clarity on the overall big picture.

    Thanks!

  • amokta

    Great set of charts from Mole, even for the leechies

    Anyway, some sort of prime-number resistance at spx 1310 – lets see if we can quantum tunnel through it.

  • https://evilspeculator.com molecool

    I thought it may confuse – tried to be as clear as possible. Thanks!!

  • StrikeFirst

    Is gold a short?

    Look at that daily candle…

  • amokta

    Someone let this out of the bag yesterday, stating the obvious 🙂

  • http://chartsandthat.blogspot.com/ ultra

    EURGBP – looks like we just retook purple? This would make it an Ivan/CS trend-trade buy on the daily.

    http://flic.kr/p/cc7Ns3

  • jarbo456

    been waiting for an opportunity to buy hedges on my long term portfolio – is today the day to do it?

  • Joe_Jones

    Hey, where have u been?

  • http://chartsandthat.blogspot.com/ ultra

    Hey. On sabbatical 😉

  • Joe_Jones

    Welcome back then

  • http://chartsandthat.blogspot.com/ ultra

    Thank you very kindly! I trust everyone’s been trading well 🙂

    I thought I saw RBW’s hide the other day as well. I wonder where Bob the Horse is?

  • newbfxtrader

    Your long term portflio? Mostly longs? Why hedge now? Wait for a breach of 1295 to the downside to hedge.

  • newbfxtrader

    Actually took one two days ago. Still not breakeven. GBP exceeded euro to the upside.

  • http://chartsandthat.blogspot.com/ ultra

    Yep. Fakeout sell, plus the shooting star of course.

  • http://chartsandthat.blogspot.com/ ultra

    I was long from the hammer last week, got stopped out this morning. The hammer today makes it a tasty setup to get back in tho, especially with the hammer sitting as it is atop that purple trend line.

  • newbfxtrader

    Looks a bit bullish. I am still in. Problem is that GBP got as trashed as the euro. Maybe I should have taken an extra cad/jpy or something.

  • Joe_Jones

    mmmh, junk is rising

    http://stockcharts.com/h-sc/ui?s=JNK:TLT&p=5&b=5&g=0&id=p79738451713

    Finish the day at the high?

  • http://chartsandthat.blogspot.com/ ultra

    Ugly sisters contest…

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

    depends.
    if you absolutely, positively cannot afford to go back into the darkness because it’s your life savings? – Yes.
    if it’s your trading account and you don’t give a damn? – No.
    obviously you land somewhere in between..?

    http://stockcharts.com/h-sc/ui?s=TLT&p=D&yr=0&mn=6&dy=0&id=p10517999193 

  • amokta

    SIMO making a break for freedom
    Round number spx 1310 pierced, so looks like it

  • newbfxtrader

    Yeah I am kicking myself. I could have put a extra aussie or kiwi long instead.

  • Joe_Jones

    Bucky looks dead

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

    *Circle of Hell closes < 15 min*

  • StrikeFirst

    “Junk is rising”?

    I thought this was a PG-13 blog?

    😉

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    Need some help from a kindly soul.  On /ZS there was an ID on Monday. On Tuesday we breached the top of the candle, but did not close there, though we did close higher than the ID close.  Is that good enough for a “trigger” to go long?  Trying to determine what to do on the /HG and /GC (double) ID today.

  • newbfxtrader

    So does animal spirits!

  • Skynard

    Shorting /ES for the evening jerk if we get it, small position:)

  • https://evilspeculator.com molecool

    We had to put him down – broke his ankle.

    Welcome back – you missed a very profitable quarter.

  • Joe_Jones

    JNK:TLT I meant

  • StrikeFirst

    GAME ON: The Best Fed Source In The World Says QEIII Is Now On The Table 
    http://www.businessinsider.com/game-on-the-best-fed-source-in-the-world-says-qeiii-is-now-on-the-table-2012-6
    This obviously moved the market today, no?

    I still don’t entirely get how the news don’t matter.(I’m not disagreeing, I’m just not sure.)

  • newbfxtrader

    Oh no you didnt bring that up again!

  • newbfxtrader

    I like the evening jerk……

  • Turbodrive

    Yesterdays news.
    Read the beige book 😉

  • Skynard

    LOL!

  • http://chartsandthat.blogspot.com/ ultra

    Roffle. Thanks! Hope you are enjoying your new Iberian lair.

    Btw, if you are a fan of beef, you *have* to check out this place up north in Leon:

    http://bodega-capricho.com

  • Joe_Jones

    Weird action in Gold today:
    http://www.finviz.com/futures_charts.ashx?t=GC&p=d1

    Fake breakout???

  • omelette

    the breach is the trigger for the trade the close doesn’t matter. Just be sure to have your stop set for the other end of the inside day.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    Ok appreciated.  So we are in theory long gold here then with a stop at 1612.5.

  • http://chartsandthat.blogspot.com/ ultra

    Soybeans.

    http://stockcharts.com/h-sc/ui?s=^sn12

    Yep, there was an inside day, but there is actually a number of setups here: first we had the fakeout buy big red candle, swiftly followed by the hammer – this combo is powerful in and of itself. Then there was the inside red candle, which also forms a retest variation buy (significant low, followed by a higher close and a lower close that doesn’t break the low). 

    If you were playing, you should be long off the break of the high of the setup candle, in this case the inside red – initial stop at the low of this candle.

  • Joe_Jones

    Don’t know if we gonna get a “scare the kids day” tomorrow, but if we do then to me it looks like the dip should be bought considering the weakness observed in bucky and vix

  • newbfxtrader

    Should be a boring day after a move like today.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

     Awesome. Thanks.

  • Skynard

    Did you by chance dip into silver? HS:)

  • Joe_Jones

    probably

  • newbfxtrader

    Bought some physical silver last week around 27. Futures account already have aussie long, gbp long, ES long. Didnt have capital to buy silver there.

  • Skynard

    OK, At least we can have steak tonight:)

  • newbfxtrader

    Yeah before Volar corners the cattle market!

  • Skynard

    Hehehe! No doubt! We are definitely very fortunate to have some big boys around here:)

  • newbfxtrader

    Dont forget Aussie employment news at 930. Should get a pullback.

  • AMCabrera

    http://www.youtube.com/watch?v=1S35THmZD_E
    http://content.screencast.com/users/AMCabrera/folders/Jing/media/d15b07f8-4a3d-44ee-8496-4f879c884485/2012-06-06_1733.png
    weekly chart the two places where I will only mess with the S&P. I will try a short at 1375 and buy 1225. Mean time I will enjoy the rips in the currency markets. Try to relax guys and be vigilant.

  • newbfxtrader

    Did you take usd/rub?

  • omelette

    in theory 🙂  However, Gold achieved 1R so, by rule, Iwould have moved my stop up to break even and i’d be out for a commission loss. I forget the general goals for a double inside day but I would think the expected return is more than 1R possibly 1.5-2. Scott would be able to provide you with those numbers as I don’t have the stats on them. 

    That being said, I didn’t like the price action at 1640 and the move in Gold was underwhelming versus Silver (which i was also long) so I decided to bail at 1640.

  • AMCabrera

    I cant trade it. Do you know of a broker that offers it.

  • Wave_Surfer

    Burning off over sold state?

  • newbfxtrader

    forex.com, GFT forex

  • Skynard

    That’s good, will buy back:)

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

    the bottom is in
    tally hooooo!  you think DOW +286 would reflect a turn in the wide market? (you betcha, kicking & screaming)

    [BPSPX]
    http://stockcharts.com/h-sc/ui?s=$BPSPX&p=D&yr=0&mn=4&dy=0&id=p73233598709

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

    just keep hanging around.
    you’ll get it.  eventually.

  • Skynard

    Hum, allot of bottom calling around here. Hehehehe, stopped out of my remaining currency trades and went short AUDJPY @ the new high.

  • Joe_Jones

    looks good 

    There is a bunch of stops right below. I’m in it too. 😉

  • Skynard

    Ya, that high was to close too resist. Will more than likely reverse the trade after the data tonight. Just thought to catch some pips till then:)

  • Skynard

    Doubled down on /ES short, should follow. Thinking 1308-1309 area.

  • Joe_Jones

    what timeframe?

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

    AUDJPY?
    ugh, I’m going to need a bigger monitor!

    http://s16.postimage.org/3nefdz7xf/temp2.png 

  • mrmik3

    .. or just switch to a different timeframe? ;P

  • Skynard

    Looking at 5 min, See how the price action gyrated above the 100sma? Well, IMO it will test that currently @ 1309.5 with the lower BB @ 1300.

  • Skynard

    Here is what you need bro:)

  • Fibz

    Yea, not looking like a bottom quite yet IMO.

  • Skynard

    I’m bullish but the market doesn’t go straight up is all. Have my positions trades on and doing some scalping to pay for my beer:)

  • amokta

    “Keep in mind that bear markets unfold faster than bull markets and
    countertrend rallies tend to be sharp upward moves that, while large in
    terms of points retraced, are relatively brief in terms of time.” – Prechter remains perma-beer 🙂

  • Fibz

    Agree. GDX is looking overbought… maybe some more correlation with SPX on the next bounce.

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

    where is RBW?
    “silver silver” – (DG looks around)

    [SPX]
    http://s17.postimage.org/gk1d3s0v1/temp3.png

  • Skynard

    Oh ya, is he still around? Thought that I seen him when volunteering at a soup kitchen downtown.

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

    Huisok, speak to me, did you make it thru today?

    https://evilspeculator.com/?p=29099#comment-545342131

  • Skynard

     That 100sma is still climbing like a Mofo.

  • http://pulse.yahoo.com/_IF7HINHIP5ITYT6TDHACMWJUXQ Huisok

    my tza stop triggered when broke RUT 750.  

  • Skynard

    Drew, where are you???????

  • newbfxtrader

    Yeah wheres that fellow. hes missing out on all the fun!

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/ca3d515d-7b61-403a-838c-35d3123850aa/2012-06-06_2052.png
    JJ, it seems to be more red all the way to the right. I do not know how big that block will be though.

  • Skynard

    Oh, he’s here. You would be surprised how many readers Master Mole has at this site. Hey, watching 78.3 for support, if that fails will go to 15 min.

  • newbfxtrader

    Got out of all Aussie longs. Hopefully will get a better entry after employment report. Yesterday I had to jump onto the moving train!

  • Skynard

    I’m short now.

  • newbfxtrader

    News should be a good excuse to shake out the weak hands.

  • Skynard

    Ya, need a shake for sure. Thinking the same thing and then will reverse the position.

  • newbfxtrader

    Train again!

  • Schwerepunkt

    Spikeage; created 39K jobs! fockewolf

  • Schwerepunkt

    But . . . we’re told news does not matter. So I’ll go back to watching the hockey game.

  • Skynard

    Ha, stopped out and re-shorted @ 78.98, probably a stop buster. Got the 2nd volume candle on the /ES. That comes straight from the pro (CS)

  • newbfxtrader

    Unbelievable. Good number again!

  • newbfxtrader

    People who dont trade news never traded the Aussie!

  • newbfxtrader

    We have a new high on the daily. Once we retrace get long again. Dont stay short too long.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    /ES doing a lot of (off hours) work around this NLBL.  What’s it gonna be, boy, yes… or…

  • Skynard

     Ya, just got that feeling they shake it up some. Really did not get much of a reaction out of the /ES.

  • newbfxtrader

    Not sure what the bald monkey is going to come up with tomorrow. He cant really argue for lower rates now that the 10yr is at all time lows in yields. Maybe more mortgage backed securities. Or probably just jawbone without specifics and give us a decent retracement.

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

    T time on the weekly EUR/USD.
    (can’t remember if I did this before, so mark it up to oldzheimers if I did.)

    http://s13.postimage.org/3wqpbp78l/temp3.png 

  • Skynard

    Well, I’d say if it can get above 1320 kiss the bears good bye, If not we get a little pullback.

  • Ben Dutton

    I have been following the blog for about a month and I enjoy the commentary and tradeable setups.  I signed up today and have been studying the “cheat sheet”, but I have a couple of questions.  Is this the place to ask them or is there a better venue?

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    I am short here and nervous but also have a nice neat trendline that was broken around 1315 which looks in sore need of a retest before we take the next move higher.

  • Skynard

    Bucky should test 82.7 which is the hourly NLBL. Above that and your short is sustainable IMO.

  • newbfxtrader

    Welcome. You can ask here and if you dont get answers you could always pm Mole.

  • Skynard

    Hopefully nothing to technical, we try to keep it simple:)

  • Schwerepunkt

    Would not be surprised we get a 1330 volume hole test, as Mole suggested.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

     I don’t have the same hourly NLBL.  Mine is 82.405. 

  • Skynard

    Yep, just anticipating some pullback before the launch. Will reload in the morning after repositioning my stops tonight.

  • Skynard

    Hum, that’s about my 30 min.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    Last three bars of yesterday, meaning today

  • MrMargin

    He said something about moving to London some time ago. He’s probably lying in some gutter, beaten, stabbed and robbed.

  • Skynard

    Opps, maybe that has expired. In that case we don’t have one yet until the next candle.

  • Skynard

    LOL! Oh ya, remember now. Poor fellow, or he found a new princess:)

  • AMCabrera

    I would cry my eyes out if I have to put you down ole boy!

  • AMCabrera

    Im waking up extra early today, hopefully itcomes is around here,  because I do not really expect much movement in the US session when it comes to forex price. More than likely it will be one of those CS days. OR since I stole this from Cnbc this morning “Markets are not moving much because the markets already discounted the comments from Ben Bernanke”. Yea, I much rather follow the rules and discipline from this site.

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/6c5d2300-c281-43b2-aed6-a15f2d90f7dc/2012-06-07_0355.png
    as with yesterday these are buy orders. The one below with low tolerance. Trying to close in on the 1.2630 handle. Which of course will be close to my first checkpoint of 1.2700. Obviously, 1.2900 is where I would LOVE to drop the hammer on the heads of late longs.

  • AMCabrera

    http://content.screencast.com/users/AMCabrera/folders/Jing/media/73c2ec05-678c-4b5c-8d45-950494a672f5/2012-06-07_0400.png
    http://content.screencast.com/users/AMCabrera/folders/Jing/media/bfd7ce02-40be-4569-ac52-1c43af7c6331/2012-06-07_0406.png
    Be very vigilant First off doing the oval test and there it is that 1290 hole. It will more than likely be porous at the dashed red line. But it will be the first test of the nighty night.

  • AMCabrera

    http://www.zerohedge.com/news/guess-who-was-buying-bottom
    I was beginning to think about this little dilemma. What if that trend is shifting. 

  • neowave

    just went long @ break 1319

  • tradem4alpha

    I was wondering what was the catalyst for the SUDDEN spike; wonder no more: China cuts benchmark lending, deposit rates.
     

  • https://evilspeculator.com molecool

    Ah, you must be new here. So let me be the first:

    The news do not matter. Period.

  • https://evilspeculator.com molecool

    Ask away.

  • tradem4alpha

     Not new, long time here; I know that news do not matter (my mantra too), but I was surprised by the SUDDEN character of the spike; spikes likes these usually happen after certain events: ISM at 10:00 am, unemployment rate, Fed rate decision etc.

  • Skynard

    Whoa, After seeing that my Aussie short went nowhere reversed the trade. 1330 seems like a walk in the park now.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    PMs staying with their inside day setups.  Gold just barely.  Could be some fireworks in SI and PL.

  • Skynard
  • Schwerepunkt

    I’m having some difficulty loading IB TWS this morning. Anybody else with an IB account having that problem? [took several attempts, but finally worked]

  • AMCabrera

    http://www.youtube.com/watch?v=NQyyEyFNIXQ
    This is pretty glorious. took half off table at 1.2600

  • captainboom

    I’ve been in TWS since about 8 AM EDT w/ no problems.  I have run into issues in the past, where I had to restart my machine to get it to run right.  That hasn’t been an issue for some time.

  • AMCabrera

    And USD/NOK is looking about as sexy as it can get.

  • bdoone

    just went in with no problem.

  • Schwerepunkt

    Not sure what the problem is. lately it takes me several attempts as it stall while loading. 

  • MrMargin

    I don’t think that human psychology is going to change. This might be an outlier or it may be that retail is now convinced that BTFD is the right thing to do. In the latter case: Brace yourselves for P3!

  • captainboom

    Are you using the stand alone local version, or the Java version?  I’m using the Java version, and there have been a couple of updates this week.  It always takes a while to load the Java version, but it’s the most up to date.  I’m using a 17″ MacBook Pro with the latest version of Snow Leopard and all other updates applied.

    Like I said, I had to resort to restarts some time ago, but that hasn’t happened in months.

  • Schwerepunkt

    Java version. That raises a good question. Do you always go to the site and download, or do you just open the TWS JNLP ( or whatever it’s called). I only go to the site occasionally. [I thought the java file updates when it loads?]

  • Schwerepunkt

    So, we’re in the vicinity of Mole’s volume hole [that sounds gross]. Do we linger here, “fill the hole”, before pushing higher on Hairy Ben’s juju, or do we snap back and build a base around 1300 before marching higher?

  • captainboom

    I just open the TWS JNLP.

  • AMCabrera

    http://www.youtube.com/watch?v=AobFnWVx_Ns
    Benny is probably listening to this song on his mp3 player before he walks out.

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

    i’m not sure how you fill a hole when you are in it.
    but anything is possible.
    http://cl.jroo.me/z3/F/O/D/d/a.aaa-Bagger-in-a-big-hole.jpg

  • captainboom

    At least with that thing, they *should* be able to dig themselves out of the hole.

  • Schwerepunkt

    🙂 Well . . . if we linger here for a while, the volume hole gets filled with volume. Alternatively, we could “jump the hole” with a quick strike, leaving behind only a thin trail of [hairy] fairy dust.

  • Schwerepunkt

    LOL. Somehow, I don’t think this plays in the background of FOMC pow-wows.

  • https://evilspeculator.com molecool

    That is too funny – opens right at 1329 – LOL 🙂

  • Joe_Jones

    LOL. 

  • Joe_Jones

    Reloaded shorts, with a stop a few handles higher than ES 1330

  • ronebadger

    Looks like we are in the right area for a nice neckline for a reverse S&M forming ….or is it H&S? …. whoever’s into that kinda stuff…

  • ds2

    Stopped out of longs.  Thanks Mole!  Volume hole was Spot On!

  • https://evilspeculator.com molecool

    You think I’m funny? 

    http://youtu.be/o_ff46b58Hk

  • https://evilspeculator.com molecool

    Are there whips and chains?

  • ronebadger

    I’ve been whipped and chained by the market before…usually, my own fault

  • Schwerepunkt

    FWIW: FITCH saying they’ll downgrade US if not credible fiscal plan by 2013. 

  • neowave

    can you play 1319 same way as in the going up?

  • Joe_Jones

    hahaha! Classic!

  • Skynard

    Long /ES on the 1320 test:)

  • Drew1985

    @newbfxtrader:disqus , @Skynard:disqus I’m still alive and contrary to @MrMargin:disqus ‘s thoughts, I’m not lying dead in a gutter in London…yet!

    I’m slowly piecing my life together by finding out the truth behind the break up – funnily enough its her parents who reached out to me and together, we’ve been uncovering the truth.

    That said, my trading has been limited to max 2 positions outstanding at any given time and I’ve been staying out whenever my mood is not there. Ironically, I’ve had some of my most profitable trades since getting dumped and also managed to shed 15 lbs while I’m at it.

    There is a silver lining – expect to see me back to my active self on this board in the coming months….

  • Skynard

    Hey buddy, glad to hear. How was the move?

  • Skynard

    Ah, that was Uncle Ben that caused that:)

  • Drew1985

    Haven’t moved yet…doing that at the end of July!

  • Joe_Jones

    I’m waiting for that positive div on ZL

  • Skynard

    Ya, just noticed that we did not get much of a drawback on the signal and therefore took it. Although, it looks like it’s carving out now.

  • Skynard

    Potentail gap fill.

  • Schwerepunkt

    Hairy Ben not giving the addicts what they want. Waiting for the gap fill, and maybe an overthrow, before going long.

  • amokta

    Im short (second time) – wondering how long to hold (got stopped out first time, in proft, with spxu)

  • Joe_Jones

    if not more. I think divergences on ZL should be more reliable today

  • https://evilspeculator.com molecool

    That’s it – taking profits now – almost closed the gap 🙂

  • MidLife

    Not sure he would ever say in front of congress – “Yep, more QE”

  • MrMargin

    That’s a relief, mate! 😉
    Did you know that last summer baseball bats were by far the most popular items in the ‘sports’ section of Amazon.co.uk?

  • Schwerepunkt

    Tea leaves. Coffee grounds. Goat entrails. Winks and nods. 

  • MrMargin

    Gap filled and tested the 25h SMA. Could go now or we might revisit 1300.

  • amokta

    Leading economic indicator (SIMO) down sharply.

  • AMCabrera

    Yea I set my stop at 6.0300 for the USD/NOK I could not risk NOT taking the profit that was being made. It has been taken out about an hour ago I will have to reset for that pair.

  • Schwerepunkt

    GC sub 1600 again . . . muahahaha. Never liked bugs.

  • https://evilspeculator.com molecool

    You got DUMPED?? Time to man up mate! Hit the gym for the next year – make it your mission to get in AAA shape. Go out there – meet women! 

    Let me guess – you moved there for the girl? Yah, that was your first mistake…

    I recommend some old recordings of the Tom Leykis show – we used to have him back in L.A. and he taught those young bucks how to handle those materialistic Hollywood skanks! 😉

  • https://evilspeculator.com molecool

    Don’t tell me you are moving there for a girl…

  • https://evilspeculator.com molecool

    See, that is the typical ‘nice guy syndrome’ problem. Her parents like you and reached out to you – bad sign. It’s supposed to be the other way around – her parents are supposed to hate your guts. If you were more of a dick she’d still be with you

  • Skynard

    Ya, Fibz mentioned yesterday that we were due for a pullback in GDX. Good call and will buy this dip.

  • AMCabrera

    There he is!

  • Drew1985

    Nope…we both wanted a change of scenery so she said go to London and I’ll follow.

    I actually refused to move to where she was living…

    Only she met someone else and decided that staying where she is would be very niceeeeeee…especially with a few new guys hovering around

  • Joe_Jones

    I think you should make a little “detour” through Cartagena, Colombia, just to “change your mind”. 😉 

  • http://practicalt.blogspot.com/ Darth_Gerb
  • DarthTrader

     While I  . . . have never liked Welfare Statists.

    “This is the shabby secret of the welfare statists’ tirades
    against gold. Deficit spending is simply a scheme for the confiscation
    of wealth. Gold stands in the way of this insidious process. It stands
    as a protector of property rights. If one grasps this, one has no
    difficulty in understanding the statists’ antagonism toward the gold
    standard.”

    Alan Greenspan 1966
    (before he became a welfare statist himself)

  • Drew1985

    Well everything was very good for 5+ years…and it was me who often had to push back on saying “No” to marriage right away etc…

    Long distance man…it kills all things.
    And I’ve been hitting the gym every other day for 5+ mths…I’m in way better shape than I have been in a while…

  • Skynard

    Trains leaving, all aboard:)

  • AMCabrera
  • amokta

    Are we going to the North or South Korea?

  • Joe_Jones

    “Men who are highly attractive have firsthand knowledge that women are definitely not the moral angels that they may like to present themselves as. The good girl image is nothing more than the social equivalent of the biological concealed ovulation strategy which was covered in the Body Agenda chapter. Women very much like sex with men they find attractive and can be exceptionally devious and insistent on getting it.It is extremely politically incorrect to say so, but all women have a component of slut in their makeup. The trick is not to fear it, seek to sanction it, or flee it, but to adapt to the presence of the slut in your woman and harness it for your mutual enjoyment. But if you don’t pay her active attention to account for her slut influence, you might find that it gets up to all sorts of mischief.”
    Hahaha, so real!

  • DarthTrader

    These Words are Wise to the Ways of Women. 

    Listen with care and act. 

    She’ll be begging you to come back once you become your own man again . .  by then you won’t care if she wants you back.

  • Joe_Jones

    Yep. Time to move on. No need to retrograde. 😉

  • Skynard

    Na, world peace man. It’s all good, Obamanator told me so:)

  • Skynard

    Market has already given us direction, that was the shakeout:)

  • AMCabrera

    Im reentering a low tolerant short right now for the USD/NOK only half lot. I also have a EUR/USD half lot at 1.2470 (long)

  • Joe_Jones

    VWAP separates boys from men me thinks. Plus ZL is flat.

  • bdoone

    Seems like the market is following the usual Ben testimony days: initial move, then whippy as his mouth moves then market picks a direction when he’s finished. For now looks like we are bound by the 1319 sup. & 1330 res. levels.  Then again, CS’s “expect a small range day after exceptionally long candle day” could keep up pingponging 1319-1330

  • Skynard

    Well, good luck and hope everything works out. Plenty of fish in the sea as they say:) Most important thing is to be sure of the one you pick!

  • Joe_Jones

    Obligatory pic 😉 

  • Skynard

    1320 backtest.

  • ronebadger

    my worm is turning today…my short missed my stop by 1 cent….usually my stop hits and immediately reverses by a cent or two….

  • amokta

    Are you long or short -can never tell, you swing both ways (!)
    (im short)

  • Schwerepunkt

    High $TICK just now? 1287?

  • Schwerepunkt

    Spanish government getting ready for the evil deed. We’re still in the foreplay phase.

  • Skynard

    Positioned long right now, /ES, /SI, AAPL, AUDJPY, and short /DX.

  • amokta

    Me too long now, after short stopped out (overall profit though over 2 short trades)

  • captainboom

    I hear business hasn’t been as good in Cartagena ever since the Secret Service left town. I’m sure prices have gone down.

  • Schwerepunkt

    I struck a nerve there, I see. Nothing personal. I believe in better government over time. That is the defining theme of the long sweep of human history since Sumer. 

    But there’s nothing wrong with a bit of gold in one’s basement as insurance. I just wouldn’t want to own too much of a non-productive asset (shiny though it is). Nor would I ascribe too many magical powers to it. Seems to sell-off in a crisis now, just like different kinds of paper.

  • Schwerepunkt

    Just saw this now. Brought tears of laughter to my eyes.

  • Schwerepunkt

    Daily VIX threatening to go green. Rising channel pretty well defined.

    http://screencast.com/t/IcR8qBz9 

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    Buyer here

  • Joe_Jones

    ;o)

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

    Gee, VWAP much?
     

  • amokta

    I recall chatting to my old friend Jessie, a few years ago:
    “No stock is too high to buy, and no stock too low to sell, not even facebook”

    Could we have a rip-roaring close into end of day? Could we break 1330 today?
    The longer the bears fail to Kapitalize, the more certain this becomes.

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

     Quietude does seem to portend a rally.  Metals prices, however, do not.

  • amokta

    True – metals seem to have decoupled with dollar/stocks, but who knows the main trend in gold, once volatility expunged?

  • Skynard

    LOL! Nice one. Your getting well versed in the obligatory field:)

  • http://profile.yahoo.com/X3UHQ24EPYQVH62MCJVJM4KIJI peter

     Focused mainly on copper; it doesn’t seem to be confirming the wonders of easing in China nor the degree of enthusiasm for /ES.

  • Skynard

    Bear rapping time now, closing half /ES @ 1328.

  • amokta

    Im just trading short-term – agree lots of clouds/reasons to be bearish!

  • Joe_Jones

    we got that VWAP breach but somehow ZL is not impressed.

  • Skynard

    LOL! Fitch downgrading again. Hum?

  • AMCabrera

    well Im done. I really have to reaccess the charts. all clear.

  • https://evilspeculator.com molecool

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    ¸„ø¤º° B A K E !“°º¤ø„¸
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