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Smoking POT
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Smoking POT

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.

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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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