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Tacky Thursday Rub Down
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Tacky Thursday Rub Down

Tacky Thursday Rub Down

by The MoleJune 4, 2009

Boy, the last two hours were almost painful to watch:

The PZI had it right and no complaints about that signal. The Lite also kept me from going short as the signal did not manage to breach the zero mark. When correlating a dropping stochastic/MACD with very little sacrifice in price I knew right away that we’re not breaking right here – the Lite was simply confirming my paranoia. I warned my subs that we seemed to be consolidating sideways – and I hope they heeded my warning.

However, take a look at that unfolding divergence – momentum/participation is dying although we pushed higher. I have an inkling that this is going to resolve to the downside but was not ready to throw any money into the NYSE wood chipper overnight. Soylent Green is still a possibility and had we arrived here in mid day I would have gone short – but not at the EOD – no sirreeee!! 😉

Program Trading Report:

evil.rat/ES: +5.25
evil.rat/NQ: + 7.5
resident.evil/ES: +0.5
resident.evil/NQ: + 10.5
geronimo/ES: -0.25

I was actually quite surprised that we didn’t touch 944/945 today – it seems strange that this gap would remain unfilled. Quite possible that we fill it overnight – gap the open and then drop. Or fill the gap and of course keep running higher – as you can see the 945 mark is the 78.6% fib point and I would not give the Blue piggy any further than that.

Cheers!

Mole

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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