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by The MoleApril 12, 2010

Let’s look at some overbought victims:

LEAP seems to be forming a running triangle (in EWT speak) – let’s see if it can make it down all the way to 12 by July, as promised. I would however set a generous stop as e waves can form a throw over plus things are a bit crazy right now.

Call me ICE-Man 😉

I think we may see a little overthrow in BGU – no rush in grabbing any puts or short positions. If you jump in here allow for a generous stop per the Top Gun market analogy above.

I think DRE is going to fake everyone out. Everyone is going to expect a reversal right here. Not so sure about that. I think the odds would be a lot better at 14 – maybe even 14.25. So I suggest you wait for that and then go short.

You can live dangerously and short EOG now or wait for 115 as I see two separate energy lines here. Whatever you do – set a stop above 115. Again, remember – it’s Top Gun time – things can and will go crazy, especially during OPX. FWIW – this thing has officially gone exponential (yes, that’s the word – parabolic is mathematically incorrect).

Cheers,

Mole

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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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