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Sweet Mercy!

Sweet Mercy!

by The MoleAugust 15, 2013

I am not going to walk us through the entire list of setups I presented here yesterday evening but rest assured that the following sample size is but a small reflection of how green my account is flashing today. If you are a sub then I sincerely hope you picked up at least some of these goodies – today’s action should have paid for a few more months of that secret decoder ring:

Let’s start equities – obviously the big mover of the day. You can pin it on the crappy Philly Fed releases but to us rats it was a setup like any other. The E-Mini triggered within the hour after posting and it’s been dropping ever since. Of course you are now wondering if you should take profits or hold down here. The best I can offer at this point is the weekly NLSL at ES 1665.75 – should we close below it tomorrow at the EOS then we do have a bonafide weekly sell signal in our pocket. And that means more technical damage and thus a penny in the bearish jar. One sell-off does not make a new trend but given this possibility I will keep a few lottery tickets in the running and if we close below the weekly NLSL tomorrow hold them into the next week. No balls – no babies.

Possible daily support however on the YM as it’s touching its 100-day SMA. The implications of continuation lower would be significant so I’m watching this with great interest. A drop below it may induce me to grab a few more short positions.

The dollar also dropped through its inside period trigger and thus far we’re are nicely in the money. Be aware that we may complete an inside week candle (and a shooting star) here tomorrow. Not looking good for ole’ bucky.

Natgas – we had two opportunities to get long and it’s paying off today. You may recall my excitement as that 100-week SMA touch on the right may lead us quite a bit higher. So I’m not touching this one with a ten foot pole right now – you got to let those winners run.

Platinum – hammer entry and boy did it take off! However it is now approaching weekly resistance and I’m going to cash out here. Thank you very much!

EUR/USD – what can I say. You all know I was excited about this IP and it’s paid us in spates at this point. I must say that today has made up for much of the pain in the past few weeks. Let’s hope the remainder of August will not disappoint.

New setups below for my intrepid subs:


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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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