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by The MoleAugust 11, 2009

3:10pm EDT: After missing the early morning drop I have been mostly watching and scalping the tape today:

Both trades you see are geronimo entries/exits – worked like a charm – it’s like taking candy from a baby πŸ™‚

As you can see we’re at VWAP right now and I expect the usual head fakes both ways before they pick a direction for the close. I think a bit more upside is a definite possibility although on a short term basis we are a bit overbought. This is make or break time for the bears – if we want to see 980 or lower the ES VWAP should hold. If we bust higher into the close it could spell the end of this retracement.

Emphasis on could – we could test 1000 on the SPX again and then drop into the lower 980s. As I said – it’s a tough call right now and I would recommend you only hold puts you can afford to lose.

3:23pm EDT: This is for Keirsten πŸ™‚

It’s time we pimp this place up a bit – whadda ya say, playaz?

3:30pm EDT: Alright, it’s 30 minutes to the close, we are at VWAP, we’ve got half a pack of cigarettes, a tank full of gas, it’s dark and we’re wearing sunglasses.

Hit it!

3:47pm EDT: Since nobody is posting today I’m not going to waste my time on an EOD wrap up. See you guys tomorrow.

4:11pm EDT: Seems like everyone has moved over to the Slope for some reason. Maybe it’s time for Mole to take a vacation. Subscribers: you know where to reach me.

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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