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Smoking POT
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Smoking POT

by The MoleFebruary 9, 2009

UPDATE 2:00pm EST: POT is making up for some SPY ugliness today:

I don’t think I could have gotten a better entry here – so far so good.

Before you girls get all moist about the sudden drop – that channel on the NDX is holding thus far and as I’m typing this we’re pushing up hard again. Trust me on this leeches – the MMs are going to tease this out all the way and burn through as many stops as possible.

UPDATE 2:28pm EST: Sorry folks – the server crapped out again – grrrrr. Since then we’ve breached that channel and have plunged below the VWAP on all index futures. A good start but nothing more – we need to see some hardcore drop here, otherwise I’m afraid it’ll just be a reload for the bulls. I’m talking double penetration, leeches – this better be good. Actually, as I’m typing this we’re bouncing off the YM pivot and off lower 2.0 standard deviation lines on the VWAP. I think now it’s do or die for the bears.


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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  • Keirsten

    POT has been a beauty today so far. Getting ready to load up more- trading the MAR 70

  • alphahorn

    yeah, i've shorted a lot the commodities, they seem to have gotten way ahead of themselves, covered 1/2 my POT, also short MOS, FCX, STLD, ANR

  • T. Waffle

    You're going long????????

  • Keirsten

    Short MOS, POT, MON, GOOG

  • Veal_Trap

    Dear Mr. Molecool
    Being that I am completely colorblind, I was just wondering if it would be possible to have a certain noise associated with a ETA and VTA when they occur on the zero signal. If this can't be scripted, no big deal, but it certaintly would help me with the colors. Thank you for your time and fantastic effort. Well done sir.

  • joe8888

    That intraday .618% retrace on the VIX.Called the market drop perfectly ….Amazing.Leonardo God Bless YOU !

  • alphahorn

    treasuries getting hosed, confidence in government waning, look out i'm standing by my prediction a major drop tomorrow or wednesday

  • Duuuuuude

    I am going to wait a bit longer on POT for confirmation on the CCI. I hope I don't miss out, but it may take a couple more days for the CCI to give confirmation. In this crazy market, I have been waiting just a bit longer and not being so anticipatory.

    http://screencast.com/t/sE6GxpMo

  • Keirsten

    I've added even more to the short side from this morning, but still saving some cash in case they continue to run this thing up tomorrow and I need to double up. Still paranoid.

  • molecool

    Hehe – great minds think alike. BTW, fucking R. is full of shit.

  • molecool

    Up line is bullish – down line is bearish 😉

  • T. Waffle

    What's the ETF to short commodities?

  • Keirsten

    He's got 10 hours left. Would have been fun had he been right, but I trust my own eyes far more.

    OMG Mole- POT is just sizzzzzzzling now. HA!

  • alphahorn

    U still short RIMM, I am thinking of adding another 1k or so

  • Veal_Trap

    Sorry. All I am saying is that it would be a treat for an audio signal once a VTA is confirmed instead of staring at it. Please don't think I was complaining, just wondering.

  • Keirsten

    Yep, still short RIMM, AMZN, AAPL, GS and the inverse ETFs. I've got plenty 'o money left to put to work too.

  • fuzzygreysocks

    PoopSquad,
    Found something for you : http://tinyurl.com/bz8myo

  • molecool

    I have no control over the audio signal on your computer – it's a browser based image feed.

  • molecool

    Only in my pants.

    Well, actually yes – I'm long puts.

  • Keirsten

    Careful on POT Rats, there's a gap@ 86.43

  • Keirsten

    snort

  • ZigZag

    R mentioned a Net crash as well. I was over at his chat room and it crashed 10 mins ago just as the market sold off..Now I can't get back in. Hmmmm..

  • T. Waffle

    LMAO +1 dude.

    You are hilarious. Where are you located? would love to have a round of scotch with you 😉

  • eurobear

    Mole,
    Can you not just put an interface into our brokerage accounts and trade for us ? We're fulltime on the Wii.

  • fuzzygreysocks

    SZCNH SPY FEB 2009 $86 PUTs bought @ $2.27 : http://tinyurl.com/dxyhps

  • rhae

    SPY needs to bust the thin line, that would help the POT smokers
    SPY the Big Kahuna

    http://screencast.com/t/RQbmxAvxp

    oh oh, 5min after chart.. I see some small bat man ears on the VIX FIX… could be a paws

  • molecool

    Got AAPL and AMZN myself.

  • Keirsten

    Rättvis dö SPX!

  • alphahorn

    MOS had no trouble filling its gap down

  • katzo7

    Medication will assist the paranoia.

  • DZZ

    DEE. Low volume though!

  • molecool

    “I trust my own eyes far more. “

    Word! It was entertaining while it lasted – unless we see something significant happen very soon his jig is up.

  • katzo7

    Yes, We will pay you handsomely if we are relieved of our stress and you take it all away.
    LOL

  • katzo7

    Snort, snort.

  • T. Waffle

    I'll pass because of low volume.

  • nyse

    SMN Ultra short basic materials

  • Keirsten

    Or several shots of Patron Anejo?

  • Yux

    ??

  • alphahorn

    we need the SPX to make one more good run and bust through the the 38.2% retracement

  • molecool

    Los Angeles – and you're buying 😛

  • http://spnakr007.blogspot.com/ Steve

    waffle, pick your likings at this commodity ETF buffet table.
    http://seekingalpha.com/article/30369-commodity

  • molecool

    SNORT!!!!

  • molecool

    I take your money – don't know about the stress.

  • Kurious

    I decided to use a 60 minute chart for my cross over. There is just too much sideways movement today. 🙁

    http://www.screencast.com/users/caelicker/folde

  • molecool

    Wow – that's too many Umlauts even for a Kraut.

  • joe8888

    Bearflag again on the 10 min SPY, lets see if this one plays out or not..!!

  • Keirsten

    and that could be even MORE entertaining! LOL

  • T. Waffle

    Oh LA. too far. lol.

    I am not buying bro. I am selling calls. naked calls

  • T. Waffle

    Thanks Steve,

    BTW the William % is working perfectly fine with this market.

  • Keirsten

    I have to hand it to him- he made some pretty amazing calls since '07. I just haven't been able to make heads or tails of some of the latest riddles.

  • katzo7

    Yeah, but look at the stochs. They are turning up.
    Snort!

    Hey Mole, can't you bang the side of the computer and get it to sell off?

  • rhae

    if it can run to major rez ? SPY 87.37 then I will emply the 3 strikes ruleand your're out !… if it blasts thru then it could be a homer… It does not very strong to me…dunno

  • pimaCanyon

    DBA is another for the Ags. Also GLD and SLV for metals.

  • molecool

    What do you think I have been doing for the past 30 minutes?

  • roncofooddehydrator

    You have to give him a break at least until tomorrow, right? Geithner moving his announcement could be screwing with his date.

  • joe8888

    Yeah i hear ya,,But,,,i only use Stochastic's for Divergence…they could turn back down…

  • katzo7

    You mean, that is a lot of umlauts?
    lol

  • pimaCanyon

    go with ETF's. stay away from the ETN's.

  • Keirsten

    Swedish bling. 😉

  • joe8888

    i use Price Pattern and Time

  • pimaCanyon

    who is R?

  • T. Waffle

    I am not going to mess with GLD and SLV. lol I am going to short MT.

  • katzo7

    Yeah, but I use stochs together with EW and MACD. Forget the f**king EWs now, meaningless. But the MACD will cross soon, so we have to wait for them to again cross and start again down. All of that climb up. And it is frighfully too close to the zero line.
    What concerns me is the 20 min. We haver lots of time before any sell off.

  • rhae

    SPY, I am going to vote for SPY 60m minor support 86.37 (thin zone) been on the chart for days… of course if it doesn't make it my vote does not count

  • http://spnakr007.blogspot.com/ Steve

    oh yeah!

  • katzo7

    How does this work? My indicators are very unreliable now.

  • molecool

    NEW POST!

  • joe8888

    next candle is 7 on the 10 min SPY , lets see if that brings a fall or a rise…!

  • ZigZag

    Yeah, like that Oprah one. What's that all about?…Maybe Geithner is messing with him 😉

  • pimaCanyon

    26.40 looks like a sure thing. 24.00 looks possible. And 20 is not out
    of the question.

    Good luck!

  • molecool

    “Forget the f**king EWs now, meaningless.”

    Oh – thanks a LOT! 🙂

    Why do I bother posting this shit then??

  • tradingmom

    smn

  • bergs

    $SPX with events chronicled.
    http://www.ritholtz.com/blog/
    Scroll further for job loss data lines

  • pimaCanyon

    hey, where is Nandu? I heard he was posting over here.

  • Kurious

    EOD ralley.. imagine that 🙂

  • http://www.srsfinance.com SRSFinance

    Thanks for the heads up Mole. I'm trying to get a fill on MOS as a result.

  • http://spnakr007.blogspot.com/ Steve

    I think mole meant you buy a round of scotch for all the leeches..

  • Yux

    think you meant “rättvis död åt SPX”

    Ordnung muß sein…

  • Kurious

    every idiot on CNBC is saying the market is improving… Did they notice all of the negative reports? Who in the HELLO are they kidding.?.

  • http://spnakr007.blogspot.com/ Steve

    any guideline on time per pattern?

  • T. Waffle

    Nandu is busy with some project.

    He told me he will be regular contributor once he is done with his project.

  • T. Waffle

    The day I quite my job and becoming full time trader i will buy everyone a bottle of black. 😀

  • pimaCanyon

    cool!

    thanks.

  • katzo7

    I'm taking about the lower time frames. They are really pissing me off.

  • Insect Overlord

    Well, I covered my /NQ short earlier today for my target profit. Here are the details of the trade, which was just a quick little scalp.

    http://screencast.com/t/PS5POxHFbJE

  • Lordted

    The market is improving / drifting up because all the bulls are afraid of being left behind and every bear is short…

  • rhae

    nice bergs, all those little bits add up

  • rhae

    Isn't this still a Bear Market? I would be very afraid when the RSI gets peaky

  • Keirsten

    POT has been a beauty today so far. Getting ready to load up more- trading the MAR 70

  • http://alphahorn.blogspot.com/ alphahorn

    yeah, i've shorted a lot the commodities, they seem to have gotten way ahead of themselves, covered 1/2 my POT, also short MOS, FCX, STLD, ANR

  • http://www.tradingsign.com/ T. Waffle

    You're going long????????

  • Keirsten

    Short MOS, POT, MON, GOOG

  • Veal_Trap

    Dear Mr. Molecool
    Being that I am completely colorblind, I was just wondering if it would be possible to have a certain noise associated with a ETA and VTA when they occur on the zero signal. If this can't be scripted, no big deal, but it certaintly would help me with the colors. Thank you for your time and fantastic effort. Well done sir.

  • Joe8888

    That intraday .618% retrace on the VIX.Called the market drop perfectly ….Amazing.Leonardo God Bless YOU !

  • http://alphahorn.blogspot.com/ alphahorn

    treasuries getting hosed, confidence in government waning, look out i'm standing by my prediction a major drop tomorrow or wednesday

  • Duuuuuude

    I am going to wait a bit longer on POT for confirmation on the CCI. I hope I don't miss out, but it may take a couple more days for the CCI to give confirmation. In this crazy market, I have been waiting just a bit longer and not being so anticipatory.

    http://screencast.com/t/sE6GxpMo

  • Keirsten

    I've added even more to the short side from this morning, but still saving some cash in case they continue to run this thing up tomorrow and I need to double up. Still paranoid.

  • https://evilspeculator.com molecool

    Hehe – great minds think alike. BTW, fucking R. is full of shit.

  • https://evilspeculator.com molecool

    Up line is bullish – down line is bearish 😉

  • http://www.tradingsign.com/ T. Waffle

    What's the ETF to short commodities?

  • Keirsten

    He's got 10 hours left. Would have been fun had he been right, but I trust my own eyes far more.

    OMG Mole- POT is just sizzzzzzzling now. HA!

  • http://alphahorn.blogspot.com/ alphahorn

    U still short RIMM, I am thinking of adding another 1k or so

  • Veal_Trap

    Sorry. All I am saying is that it would be a treat for an audio signal once a VTA is confirmed instead of staring at it. Please don't think I was complaining, just wondering.

  • Keirsten

    Yep, still short RIMM, AMZN, AAPL, GS and the inverse ETFs. I've got plenty 'o money left to put to work too.

  • fuzzygreysocks

    PoopSquad,
    Found something for you : http://tinyurl.com/bz8myo

  • https://evilspeculator.com molecool

    I have no control over the audio signal on your computer – it's a browser based image feed.

  • https://evilspeculator.com molecool

    Only in my pants.

    Well, actually yes – I'm long puts.

  • Keirsten

    Careful on POT Rats, there's a gap@ 86.43

  • Keirsten

    snort

  • ZigZag

    R mentioned a Net crash as well. I was over at his chat room and it crashed 10 mins ago just as the market sold off..Now I can't get back in. Hmmmm..

  • http://www.tradingsign.com/ T. Waffle

    LMAO +1 dude.

    You are hilarious. Where are you located? would love to have a round of scotch with you 😉

  • eurobear

    Mole,
    Can you not just put an interface into our brokerage accounts and trade for us ? We're fulltime on the Wii.

  • fuzzygreysocks

    SZCNH SPY FEB 2009 $86 PUTs bought @ $2.27 : http://tinyurl.com/dxyhps

  • rhae

    SPY needs to bust the thin line, that would help the POT smokers
    SPY the Big Kahuna

    http://screencast.com/t/RQbmxAvxp

    oh oh, 5min after chart.. I see some small bat man ears on the VIX FIX… could be a paws

  • https://evilspeculator.com molecool

    Got AAPL and AMZN myself.

  • Keirsten

    Rättvis dö SPX!

  • http://alphahorn.blogspot.com/ alphahorn

    MOS had no trouble filling its gap down

  • katzo7

    Medication will assist the paranoia.

  • DZZ

    DEE. Low volume though!

  • https://evilspeculator.com molecool

    “I trust my own eyes far more. “

    Word! It was entertaining while it lasted – unless we see something significant happen very soon his jig is up.

  • katzo7

    Yes, We will pay you handsomely if we are relieved of our stress and you take it all away.
    LOL

  • katzo7

    Snort, snort.

  • http://www.tradingsign.com/ T. Waffle

    I'll pass because of low volume.

  • nyse

    SMN Ultra short basic materials

  • Keirsten

    Or several shots of Patron Anejo?

  • Yux

    ??

  • http://alphahorn.blogspot.com/ alphahorn

    we need the SPX to make one more good run and bust through the the 38.2% retracement

  • https://evilspeculator.com molecool

    Los Angeles – and you're buying 😛

  • Steve

    waffle, pick your likings at this commodity ETF buffet table.
    http://seekingalpha.com/article/30369-commodity

  • https://evilspeculator.com molecool

    SNORT!!!!

  • https://evilspeculator.com molecool

    I take your money – don't know about the stress.

  • Kurious

    I decided to use a 60 minute chart for my cross over. There is just too much sideways movement today. 🙁

    http://www.screencast.com/users/caelicker/folde

  • https://evilspeculator.com molecool

    Wow – that's too many Umlauts even for a Kraut.

  • Joe8888

    Bearflag again on the 10 min SPY, lets see if this one plays out or not..!!

  • Keirsten

    and that could be even MORE entertaining! LOL

  • http://www.tradingsign.com/ T. Waffle

    Oh LA. too far. lol.

    I am not buying bro. I am selling calls. naked calls

  • http://www.tradingsign.com/ T. Waffle

    Thanks Steve,

    BTW the William % is working perfectly fine with this market.

  • Keirsten

    I have to hand it to him- he made some pretty amazing calls since '07. I just haven't been able to make heads or tails of some of the latest riddles.

  • katzo7

    Yeah, but look at the stochs. They are turning up.
    Snort!

    Hey Mole, can't you bang the side of the computer and get it to sell off?

  • rhae

    if it can run to major rez ? SPY 87.37 then I will emply the 3 strikes ruleand your're out !… if it blasts thru then it could be a homer… It does not very strong to me…dunno

  • pimaCanyon

    DBA is another for the Ags. Also GLD and SLV for metals.

  • https://evilspeculator.com molecool

    What do you think I have been doing for the past 30 minutes?

  • roncofooddehydrator

    You have to give him a break at least until tomorrow, right? Geithner moving his announcement could be screwing with his date.

  • Joe8888

    Yeah i hear ya,,But,,,i only use Stochastic's for Divergence…they could turn back down…

  • katzo7

    You mean, that is a lot of umlauts?
    lol

  • pimaCanyon

    go with ETF's. stay away from the ETN's.

  • Keirsten

    Swedish bling. 😉

  • Joe8888

    i use Price Pattern and Time

  • pimaCanyon

    who is R?

  • http://www.tradingsign.com/ T. Waffle

    I am not going to mess with GLD and SLV. lol I am going to short MT.

  • katzo7

    Yeah, but I use stochs together with EW and MACD. Forget the f**king EWs now, meaningless. But the MACD will cross soon, so we have to wait for them to again cross and start again down. All of that climb up. And it is frighfully too close to the zero line.
    What concerns me is the 20 min. We haver lots of time before any sell off.

  • rhae

    SPY, I am going to vote for SPY 60m minor support 86.37 (thin zone) been on the chart for days… of course if it doesn't make it my vote does not count

  • Steve

    oh yeah!

  • katzo7

    How does this work? My indicators are very unreliable now.

  • https://evilspeculator.com molecool

    NEW POST!

  • Joe8888

    next candle is 7 on the 10 min SPY , lets see if that brings a fall or a rise…!

  • ZigZag

    Yeah, like that Oprah one. What's that all about?…Maybe Geithner is messing with him 😉

  • pimaCanyon

    26.40 looks like a sure thing. 24.00 looks possible. And 20 is not out
    of the question.

    Good luck!

  • https://evilspeculator.com molecool

    “Forget the f**king EWs now, meaningless.”

    Oh – thanks a LOT! 🙂

    Why do I bother posting this shit then??

  • tradingmom

    smn

  • bergs

    $SPX with events chronicled.
    http://www.ritholtz.com/blog/
    Scroll further for job loss data lines

  • pimaCanyon

    hey, where is Nandu? I heard he was posting over here.

  • Kurious

    EOD ralley.. imagine that 🙂

  • http://www.srsfinance.com SRSFinance

    Thanks for the heads up Mole. I'm trying to get a fill on MOS as a result.

  • Steve

    I think mole meant you buy a round of scotch for all the leeches..

  • Yux

    think you meant “rättvis död åt SPX”

    Ordnung muß sein…

  • Kurious

    every idiot on CNBC is saying the market is improving… Did they notice all of the negative reports? Who in the HELLO are they kidding.?.

  • Steve

    any guideline on time per pattern?

  • http://www.tradingsign.com/ T. Waffle

    Nandu is busy with some project.

    He told me he will be regular contributor once he is done with his project.

  • http://www.tradingsign.com/ T. Waffle

    The day I quite my job and becoming full time trader i will buy everyone a bottle of black. 😀

  • pimaCanyon

    cool!

    thanks.

  • katzo7

    I'm taking about the lower time frames. They are really pissing me off.

  • Insect Overlord

    Well, I covered my /NQ short earlier today for my target profit. Here are the details of the trade, which was just a quick little scalp.

    http://screencast.com/t/PS5POxHFbJE

  • Lordted

    The market is improving / drifting up because all the bulls are afraid of being left behind and every bear is short…

  • rhae

    nice bergs, all those little bits add up

  • rhae

    Isn't this still a Bear Market? I would be very afraid when the RSI gets peaky