Now Reading
The Big Furball

The Big Furball

by The MoleJune 2, 2015

Equities have clearly been one big nasty furball over the past few weeks. You remember me writing about this weeks ago already and with the exception of one quick fake out higher we have reversed back into sideways shake out territory. Tough going here but to me it seems like we are either witnessing massive accumulation or distribution over the past few weeks. I’ve touched on that about a month ago and the fact that conditions have remained since then tells me that whatever comes next is going to be significant.


Which means my modus operandi has been one of taking calculated risks near potential inflection points. On the E-Mini we are sloping lower slowly but seem to be jumping higher occasionally to shake out as many participants as possible. And that means I cannot enter here – neither long nor short. Well perhaps long if we were near the recent spike low. But I’ve got a much better entry and I’m posting it for the subs below.


Gold is very juicy here – I’m grabbing a long with a stop below the NLSL which also happens to be near that diagonal I drew. Clearly a short position below this is a possibility but tough going – those daily NLSLs  (right panel) won’t give way easily.


GBP/CAD – very nice context developing but so far no resolution. I’m long here with a top below 1.898.


Soybeans update – nice entry yesterday and I came very close to being stopped out. Moving my stop up to break/even now. If it wants to get going then now is probably the time.


I also grabbed natgas yesterday – so far so good but I’m leaving my stop in place as we haven’t moved anywhere yet. But the longer we remain those ST NLBLs the higher the chance for a stab higher. Volatility should set in here in the near future.


AUD/CHF is also still nibbling on it. Keeping my stop where I left it.


It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.


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.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c