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Third Touchdown!
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Third Touchdown!

by The MoleAugust 13, 2009

2:23pm EDT: I have been quiet since this morning as I have been working on some geronimo research with Eric. However, I just peeked at my trusted channel and voila – what do I see?

Third touchdown! We are building a real channel here – rats! Of course a breach would bring about soddom and gomorroa – you know cats doing it with dogs, pigs flying, all that good stuff.

“These men are consummate snowball artists…”

LOL – sounds a bit like Bernanke and Geithner 😉

BTW, if this is a third wave that’s sub-dividing into 1-2s the next spike is going to brutal.

2:40pm EDT: I need to point something out that most of you seem to be missing (at least based on the confused comments I’m seeing): The chart above is probably the most important one I have posted in the past quarter. Reason being that we now have a lower boundary for this bear market rally. Up until now nothing really lined up until we got that new bottom on the 11th, when suddenly everything fell into place. I then proceeded to add 25% and 75% lines in addition to the 50% line. As you can see it almost lines up perfectly.

This channel will be key in identifying when Primary {2} might come to an end. Nothing is guaranteed but a breach of the lower boundary in combination with perhaps a swing upwards in the BAA-TYX spread would be a strong suggestion that the end is nigh.

I don’t want to get too excited about this yet – a few more touches/tests on this one would actually encourage me, so for now – as strange as this might sound – the best news for the bears is for this channel border to be defended by the bulltards. Hope this makes sense.

3:45pm EDT: News Flash: I had it with Lester and banished him from the evil lair. If the majority of you don’t like it you can kiss my shiny metal ass.


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!

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  • http://www.hotoptionbabe.com Anna

    IMHO we see one last gasp up from the bulldogs, then close lower and open lower tomorrow. 🙂

  • annamall

    Great chart Mole! snort…
    Tape looks very weak here, and if the USD can hold on and start to strengthen we may get a EOD sell off that I was speaking of early this morning.

  • http://alphahorn.blogspot.com/ alphahorn

    I mentioned KG earlier for a long scalp, just halted pending news, this one i hope actually goes up

  • PRSGuitars

    Oh god — the 1-2 1-2 scares me a little bit. Do i HAVE to keep getting hedged? If so, how the fuck do I gauge when to hedge once we've dropped past vwap?

    bah. meh. other internet signs of disinterest (or distrust!)…

    Will we ever disconnect from vwap to the downside? Ever?

  • springheel_jack

    Interesting post from Tim at SOH. The other ES H&S formation. Worth a look.

  • http://www.genxantihero.blogspot.com LostIllini

    I hope you are kicking ass today Mole, I am currently getting my face ripped off by TLT….ooops.

  • http://www.mylifemytrade.com MyLifeMyTrade

    The move up we are seeing now is likely a retest of the VWAP before the downmove resumes IMO

    http://screencast.com/t/1dyON0ox

  • byhiselo

    i assume you mean brutal for longs…shorts have been brutalized squared

  • annamall

    I jumped in on that one Alpha. 😉

  • http://www.mylifemytrade.com MyLifeMyTrade

    The tape looks very week indeed. We will likely get another sell off into close today…

  • genghis

    Not too sure, there is an ascending triangle forming with a tip around 1012. Might go much higher if that brakes to the upside.

  • springheel_jack

    Well, I've got to put the children to bed, so I've closed my EURUSD short at 1.427 for a 20 pips profit. 50 pips today which is great.

    Left a stop on my ES short at 1008, so in profit even if I'm stopped out & minimum 8 handles up on the day.

    It has been a good day.

    Should be back for the close. Catch you guys later.

  • Bankrupt

    im thinking smart money shuld sell ff but i dont like this higher low higher high pattern

  • springheel_jack

    Lester, we've had a bit of a bounce. Sell all your Aug SPX calls mate. Seriously.

    Stop putting more than 10% of your account into any trade. 50% is way too high even if they weren't calls expiring in a week.

  • Keirsten

    just keep an eye on the last 10-15 min for clues

  • lester

    I am watching my SPY Calls like a hawk here. Still long…

  • annamall

    Nighty Night Jack Congrats, you had a smoking day, so happy to see that 😀

  • http://alphahorn.blogspot.com/ alphahorn

    cool, let's hope it's good news! of course I took 1/2 off the table just before it halted, urggggghhhhh

  • annamall

    I was just saying MyLife, and would be great to see the USD bounce hard!

  • PRSGuitars

    Mole, excellent update. This is why we need you around, buddy!

    Wise words — now I'm taking a momentary leave from ursa major to long some /es until that channel breaks (so I can carry my puts, Sep SPY and Qs ATM, a little longer). Once more — nice find.

  • St Deluise

    granted i'm a moron, but i don't see any intrinsic lower boundary in that plot? seems like they could keep building that stairway…to heaven?

  • ropey

    Mole this level on the SPY – look at the volume on the down move in oct – 600-800million days. Right now we're barely getting low 100s on the upmove…this market needs a breather before it can chew threw this stuff me thinks or a huge catalyst of some sort..

  • springheel_jack

    Thanks Anna.

  • lester

    thanks, I have a trail stop set…

  • Bankrupt

    there is no heaven, just hell

  • PRSGuitars

    Night jack! great work and don't worry about EUR — it moves 20 some days, 200 others. You'll catch it tomorrow.

  • PRSGuitars

    Night jack! great work and don't worry about EUR — it moves 20 some days, 200 others. You'll catch it tomorrow.

  • http://www.mylifemytrade.com MyLifeMyTrade

    IMO the dump is about to start and should last into the close..

    NQ failed to breach VWAP to upside (so far)… ES breached it briefly and is now poised to breach it to the downside again… Nice timing on this… the down move should last into close IMO.

    Trade at your own discretion and after your own due diligence.

  • http://trading-to-win.com/ DavidDT

    I might reopen SPY Sep98p when SPY at 101.50+ area (but under 102 ) – if 102 broken – W3 target 102.60
    http://screencast.com/t/XvvrpMpR5o
    it is really shaky area here and I'd rather not to trade untill 101.20+ close

  • PRSGuitars

    at WORST, stop below last swing low. if Mole's channel doesn't hold, and the vwap doesn't hold, and the swing low (1003 /es) doesn't hold… this puppy is cooked.

    I would AT LEAST lighten up the position. If you're wrong and the market rips, whatever — you de-risked the smart way to stay in the trade and even add them back later IF the setup is there — if the market crashes, hey, you're 50% better off.

    LESTER — the 50% sizing is RIDICULOUS. Stop it. YOU (nor anyone here!) WILL MAKE MONEY THAT WAY IN THE LONG RUN. STOP IT STOP IT STOP IT!

  • St Deluise

    well how many more god damned goats do i have to sacrifice? by now word's gotten out to all the farms, they won't sell to me anymore 🙁

  • annamall

    Its your decision Lester, but IMHO I would at least put a stop limit in. 🙂

  • springheel_jack

    Keep it tight Lester.

  • springheel_jack

    Thanks PRSG. Might get a good entry later today. We'll see.

  • Keirsten

    sounds good- I've got my eyes on an important pivot at 101.53 over here, kisses, but keeps getting rejected there.

    my computer system crashed, so on backup laptop, but watching the rest of you

  • Squidman

    Would be typical after 3 eod selloffs that they ramp this today. Not betting either way but will definitely take it as a signal for what is next, and the asian response tonight.

  • TheMacroEconomist

    I got day job stuff to get to now, Lester. But tonight I'll go back and do an brief analysis on what you could've done with SPY Aug. 100 options – even if you bought wrong. Those are what I was using on Tuesday and Wednesday but strictly on a 1-2 day basis. (I'll put that analysis as a reply to this.)

    Theta is ticking like a time bomb on Aug. options now. Springheel_jack is right, you need an exit while the price is good.

  • annamall

    I am hoping too! Maybe a LBO!

  • annamall

    Are you back online ok? I just IM'd you

  • http://esecfutures.com Vladz

    Mole, you should register in stocktwits.com, and post your update through there using $SPX / $ES_F symbols or whatever else you making a post about. That will post in a stream of market related twits, should give you some extra exposure/followers = traffic

    Also, get tweetdeck, its rather convenient to organize all the crap with it.

  • Keirsten

    Well, we had one and then none on Monday, then two consecutives, so this will be interesting…

  • ACJ

    Chop Chop Chop

  • http://trading-to-win.com/ DavidDT

    take a look at XME short – stop as tight as it gets – on 10min bar close above 42.82
    shall stop hit – long target 45+ area

  • lester

    got a 0.07 trail stop …

  • http://trading-to-win.com/ DavidDT

    I think they just burning theta until aug opx

  • Bankrupt

    gs selling of, waiting for es to follow

  • molecool

    Well, IF we get a dump it'll be a BIG one, at least that's what my chart is telling me.

  • http://alphahorn.blogspot.com/ alphahorn

    spy looks like siamese twins, double tops and H & S

  • molecool

    You're not supposed to eat the meat after the sacrifice…

  • ropey

    LVS halted

  • http://trading-to-win.com/ DavidDT
  • lester

    I am out of my Aug Calls for a significant loss (as always). Paid 3.04 sold for 2.6.

  • annamall

    good, are you still in it?

  • TheMacroEconomist

    What was the strike?

  • lester

    Out

  • lester

    Aug 99s

  • molecool

    Thanks for the tip. How are things up in Detroit?

  • TheMacroEconomist

    Really?

    Sept. oil futures end up 36 cents at $70.52/brl .

  • http://alphahorn.blogspot.com/ alphahorn

    good this market is quite constipated

  • annamall

    that one too? I am waiting on KG with Alpha.

  • lester

    these trail stops are ridculous, I just left aver a grand on the table…crap

  • Tronacate

    why?

  • TheMacroEconomist

    Ok I only got price data handy for 100 – but result would be similar I think, just a bit lower.

  • anthem

    Interesting. Maybe Wynn is buying Adelson since Wynn's stock has been soaring. . . seriously doubt it, but pretty funny since MGM/Venetian/Wynn all don't like each other very much.

  • Kemal_1

    I expect the dam to break to the downside today. Dam = mole's channel.

  • http://trading-to-win.com/ DavidDT

    “WHY” NOW?
    reason
    please?
    por favor?
    s'il vous plaît?
    ???????????

  • Tronacate

    I have LVS putz……..hmmmmm

  • lester

    .07 was too tight. Missed the ramp job. S___ F___. Thanks for your advice today. Should have gone with 0.12 trail

  • http://alphahorn.blogspot.com/ alphahorn

    triangles everywhere!!!!!!! SPX about to touch the top of its, let's hope this is e and down we go

  • genghis

    I like your avatar 😉

  • http://alphahorn.blogspot.com/ alphahorn

    good i just sold my house down stream

  • annamall

    Your stop was too tight I guess Lester, they (MM's) like to sweep anything that is even remotely close to the stop you have.

  • annamall

    Please Big Daddy please!! LOL 😉

  • TheCrowe

    Vladz,
    You're in the 'D'? I'm at the U here in Ann Arbor. Cheers.

  • annamall

    hahahah 🙂 Let's give it a short of EXLAX.

  • Coldwarvet

    Lester, I don't believe you are real, look anything like your picture, or are making real trades. If you were, by now you'd be bankrupt. In short, you are the poster child for everything NOT to do in trading.
    Therefore, you must be someone's idea of a spoof, and, frankly, your presence here is distraction.

  • http://trading-to-win.com/ DavidDT

    Molecool:
    “Well, IF we get a dump it'll be a BIG one, at least that's what my chart is telling me.”

    http://www.youtube.com/watch?v=J-YVt4gfquA

  • http://alphahorn.blogspot.com/ alphahorn

    do you have a read on the count, is this ii of 3, the move down off the top looked like a 3 though

  • lester

    I honestly don't understand all the projection of major ES/SPY downside (in the next 40 mins). I should have definitely stayed in my trade…I mean we may get a pullback of 3-4 SPX points, but 990 seems crazy unless you are talking overnite.

  • http://trading-to-win.com/ DavidDT

    don't do that to me – I need SPY close above 101.20 🙂

  • annamall

    3:30 is the time where the rubber meets the road. I am hoping for some big fast 18 wheeler rubber tires!

  • TheMacroEconomist

    See they started taking equities down at 1:52 just before gold closed up a bit on open outcry. Then they started again at 2:57 and oil ended up a bit at 3PM.

    Both times with big negative TICKs to be sure to get order flow really moving down in price.

    We rats gotta wait for tapes to move for us. Not so for our favorite afternoon trading adversaries who can just position the tapes where they want!

  • rhae

    SPY 30m will they Jam the close or not? I do not think so, but they might, lol
    http://screencast.com/t/o8WnRFJdU

  • mrclam

    Lester, if you call a 44 cent loss on a 3.04 option a SIGNIFICANT loss, your position sizing is wrong. I said it once and I'll say it again, you need to learn how to control your risk. You don't trade(i said TRADE, not GAMBLE) options by buying 50% of your portfolio's worth full of them. Its very clear that you haven't learned ANYTHING since coming back to *gambling* besides learning how to go long. Now, instead of losing money trading one way, you can do it both ways, congratulations! You are obviously not taking this very seriously, and I don't know why I keep typing this stuff out, but you need to walk away and never come back. This isn't your thing.

  • mrclam

    If you didn't trade sentiment you wouldn't care.

  • annamall

    ROTFLMAO that was hysterical! hahahahah

  • marketmaker

    Lester, my good man –

    If you keep losing money, you're going to end up broke.

    Others have suggested signing up for Geronimo. Why don't you try that?

  • innatedc

    Get out now!!!!!

  • Kemal_1

    There was a clear first impulse down, wave 5 of which was extended. Now wave 2 is in its C leg, final move.

    I expect an acceleration to the downside.

  • mrclam

    He's trading his IRA, which won't let him touch futures. Probably a good thing since the first thing he'd do is play with as much leverage as he could.

  • bsummertime

    I like Lester, i use his trades as a contrary indicator

  • http://alphahorn.blogspot.com/ alphahorn

    thanks!

  • Keirsten

    thx for the update TME. I can't pull up a TICK chart over here.

  • charles_smith

    Great post, Mole, one of your best, thank you.
    A classic flag has formed over the past 5 days–price has been compressed to near neutron-star densities. crunch time (break up and down) is fast approaching.

  • annamall

    Alpha, KG is halted due to FDA news whether they got an approval or not. hang on to your horns buddy! 🙂

  • http://trading-to-win.com/ DavidDT

    I need to stop it…
    but it is not me
    they made me do that
    those Lester voices in my head…

  • annamall

    So true Clam.

  • lester

    that pic is my son so you are right about that. I am not gonna post anymore if I am such a damn distraction. I tried to stay in hiding today, but somebody asked me how I was doing so I came out of hiding.

  • lester

    that pic is my son so you are right about that. I am not gonna post anymore if I am such a damn distraction. I tried to stay in hiding today, but somebody asked me how I was doing so I came out of hiding.

  • molecool

    You are obviously a new reader 😉

  • molecool

    Trail stops suck, especially in this market – who talked you into those now?

  • http://alphahorn.blogspot.com/ alphahorn

    that'll take 2 hands, then i won't be able to trade ;>)

  • az

    Kemal, if not too much trouble, could you post a chart tonight with the labeling? Like to see what you see.

    TIA!

  • lester

    Why, not gonna hold Aug Calls overnight. I had a trial stop in that was too tight (.07 on a $2.6 contract)

  • http://zstock7.com/ zstock
  • http://trading-to-win.com/ DavidDT

    if he traded sentiment – at least he would be trading something

  • lester

    Are you a subscriber?

  • PRSGuitars

    Hiding isn't a solution, but facing what you're doing is — focus on your trading in LOW RISK ways. I'm not sure if you need this for financial gains, but I think it's evident this strategy isn't working – don't keep pressing your bets.

    Take $100, buy four books that are elemental in trading (see upper right, Mole's suggestions). Spend a month reading them. Papertrade for a month. Use your money you'd otherwise be losing trading to pay the bills for ONE MONTH.

    What would ONE MONTH of solid practice do for you?

    Don't get upset; just STOP what's hurting you. You need to NOT hide, but NOT be exposed either — there's no reason to be trading if it's not working. Study. Calm yourself. Focus.

  • PRSGuitars

    Hiding isn't a solution, but facing what you're doing is — focus on your trading in LOW RISK ways. I'm not sure if you need this for financial gains, but I think it's evident this strategy isn't working – don't keep pressing your bets.

    Take $100, buy four books that are elemental in trading (see upper right, Mole's suggestions). Spend a month reading them. Papertrade for a month. Use your money you'd otherwise be losing trading to pay the bills for ONE MONTH.

    What would ONE MONTH of solid practice do for you?

    Don't get upset; just STOP what's hurting you. You need to NOT hide, but NOT be exposed either — there's no reason to be trading if it's not working. Study. Calm yourself. Focus.

  • mrclam

    Trail stops aren't your problem, position sizing is.

  • http://zstock7.com/ zstock

    OPX next week—I bet it favors the bears

  • TheMacroEconomist

    Just saw the 6-sec TICK > +1000.

  • molecool

    At least he's consistent.

  • http://alphahorn.blogspot.com/ alphahorn

    Kiersten you got your number

  • TheCrowe

    If you think that's funny and like Austin, try this on for size:

    http://www.youtube.com/watch?v=Q95VAXPjuBI

    The spanish subtitles are great too.

    ps something pertinent. ok. “101.2+ complete the wave!”

  • molecool

    That's an alien concept for Lester – paying $199 for a system that actually works? Nah – he rather blows thousands on his discretionary trades.

    More proof that he's a gambler and not a trader. As a gambler he would miss the self-reinforcing thrill of losing.

  • Keirsten

    thanks TME. I don't even have my normal platform running, so I'm flying blind this afternoon. I really appreciate it.

  • shortcover

    this tape never ceases to amaze me…

  • http://alphahorn.blogspot.com/ alphahorn

    this sux

  • molecool

    What is it with you people – can't you read a chart?

  • ACJ

    Hope is not a trading strategy. BTDT

  • onorio

    TIMBEEEEEEEEEEEER!!!!

  • mrclam

    Since everyone is posting sentiment, you guys know what this current situation reminds me of right now? When we were making the initial rise from 800-> 900 and everyone kept expecting a pullback to 750-800. Never happened.

  • Me_XMan

    Just admit Mole that you've got lucky with that channel chart.

  • Keirsten

    rejected again, right?

  • http://alphahorn.blogspot.com/ alphahorn

    turtle head

  • Kemal_1

    Will do. A triangle in the C wave position is the most likely count for what happened today in the SPX. So the last move probably was the e leg and not wave 2.

    Now a break to the downside.

  • thelefteyeguy

    RIP lester

  • Iguanadon

    yellow bellied sap sucker

  • ACJ

    the harder he works the luckier he gets…….

  • TheMacroEconomist

    Mostly green on the TICK, but SPX isn't going up. Sector/index rotation now.

    EDIT: Back over +500 for a bit. 😉

  • innatedc

    I think your absolutely right…picked up Spy puts…..

  • St Deluise

    touching cloth here..

  • molecool

    He was becoming too much of a distraction.

  • http://trading-to-win.com/ DavidDT

    set BUY Sep98p at market SPY = 101.53+

  • Keirsten

    that's my man!

  • Me_XMan

    That's it people. Today should have a new high close for July. Very bullish looking and watch for shorts covering to take SPX to 1040 IMO.

  • Keirsten

    Did you kill Kenny?

  • az

    Thanks!

  • Keirsten

    It's August.

  • pricey

    Looks like the boyz want it up there one more time

  • http://trading-to-win.com/ DavidDT

    filled shitload at 1.77

  • mktstudent

    beginning to wonder if there will ever be a > 1% down day again in the next century? sheesh.

  • Kemal_1

    You are looking at the triangle in the C wave position. Isn't it?

  • genghis

    Maybe he meant 2010?

  • pricey

    You go girl.

  • http://dreadwinaard.livejournal.com dreadwin

    Silver is very strong today. SLV just touched its high of the day 1 min before close.

  • http://www.ambgtrading.com/ amgrant

    I don't like the potential for a gap up tomorrow so I exited 100% of my shorts, again, in all accounts for a 0.74% loss.

    100% cash and loving it.

  • TheMacroEconomist

    And the Market On Close orders mostly came in as buys. $TICK was > 700 for the last 2 minutes of trade.

  • onorio

    LMAO, you`re the best K.

  • Me_XMan

    Damn I'm behind one month and didn't even know it! hehehahahah!

  • annamall

    Alpha if you read this, KG got approval from FDA for new pain drug. (I could use that right now as a matter of fact) LOL
    Will reopen tomorrow from what I have read
    🙂

  • Me_XMan

    Doesn't matter. Read the chart and see.

  • thunda72

    SPY AH is still heading up. I'll close out my calls within the next 10 minutes.

  • http://alphahorn.blogspot.com/ alphahorn

    me too, got slaughtered into the close

  • Keirsten

    It's okay. I'd like to forget about August myself. 🙂

  • annamall

    This is just not so fun anymore!

  • Trappped

    “3:45pm EDT: News Flash: I had it with Lester and banished him from the evil lair. If the majority of you don’t like it you can kiss my shiny metal ass.”

    Forgive my ignorance, but who or what is Lester ?
    Was he just a reader ? Contributer ?
    What did he do wrong ?
    Just curious,\Thanks

  • http://trading-to-win.com/ DavidDT

    101.2+ 🙂

  • http://trading-to-win.com/ DavidDT

    the creature who did not want to be helped

  • TheMacroEconomist

    This might be it at 101.77.

  • shortcover

    been reading them for over 10 yrs…i just love how they unfold. up or down…things of beauty…

  • mmTesla

    Why was lester banned? Not complaining just curious.

  • annamall

    I am closing out most of my puts, I just think until we see some serious selling, I am staying in cash too Am!

  • http://trading-to-win.com/ DavidDT

    Kemal – I posted charts here https://evilspeculator.com/?p=10053&dsq=14799632
    101.2 confirmed W3 daily (it does NOT imply it will END right here – but this is the risk I am willing to take – combined with lots of other sell signals – I like my odds)

  • Keirsten

    Just wanted to thank you one more time TME. The last time this happened I had to trade using Bloomberg delayed quotes. Amazingly enough, that turned out to be a good day. LOL Hopefully I'll have all my bells and widgets working again in the AM.

  • annamall

    Hi MM, he has a gambling problem and just keeps losing his family's money, which I agree with Mole, was best for him to stop listening to everyone's opinions' cause as we know everyone has a different one.

    RIP Lester

  • annamall

    hahahah I needed that trapped. He could be called “The Gambler”

  • http://alphahorn.blogspot.com/ alphahorn

    it's a tiny play for me in comparison

  • TheMacroEconomist

    Without being able to “look inside the candles” we're just dead meat for GS.

    (Not that they don't take a bite out of us anyway some days!)

  • thunda72

    Closed out @ 101.83. Good day today. 🙂

  • http://www.ambgtrading.com/ amgrant

    We'll have our moment in the sun.

    Establishing short deltas near the end of last week was still, in retrospect, a good place to enter positions for a correction. I would do it again and again if I had to.

  • m123456

    This is going to sound dumb to you all but I mean how come no one seems to looking into whether this market is being illegally pumped up? Maybe I sound psych but everyone just seems way to casual about the fact that we almost cratered into a great depression and a couple months later were up 50 percent w no pull backs and no real legit reason for it to go down since there's really no legit reason it went up so much

  • thunda72

    I'm about 15% in Sep puts (closed out a lot of calls today). Since they are Sep. options, I'll let them ride for a bit. If I reconsider it'll be in the middle of next week.

  • http://trading-to-win.com/ DavidDT

    forgot – was it Black Friday or Black Monday?

  • PRSGuitars

    In honor of the banhammer being brought down upon him, we should think of a list of nicknames for him (Like we have for TBTSNBN)…

    He's a joker. I'm a smoker, I'm a midnight (to six AM EST, Euro session baby! wooooo) toker.

    Now he's going to have to play his music on the run… (woo-Oo-oo-ooo…)

    He is a slowly developing trader who is reluctant to manage position size properly and as such is getting burned (likely the way we ALL once have, though, once or twice was all it took for us…).

  • http://trading-to-win.com/ DavidDT

    would you feel better if we all cared and you had heart attack?

  • prozor7

    +1

  • PRSGuitars

    http://www.deepcapture.com for tin foil
    market-ticker.denninger.net for angry, educated reading
    zerohedge.com for the technical scoop
    cnbc.com for green shoots!

  • Kemal_1

    Thanks, I saw your charts. Agree with you, risk – reward is very good. Triangle could easily be turned into a wedge if e slightly extends.

  • mmTesla

    I hope he gets help for his gambling problem.
    Today's tape was interesting to say the least, delta neutral hasn't been working too well this week, so I had to stick with the /ES today to make up for it.

    You did well yesterday in Forex though! Are you trading tommorrow or taking the week off?

  • annamall

    🙂 thanks I need that!

  • thunda72

    Sheeeeeeeit….. with the gov't pumping billions into the equity markets, and the institutions making bank, do you really think the SEC or Congress is going to try to pull back the curtain?

    I sure hope the gov't has been selling some of the millions and millions of shares they hold in AIG, Freddy, Fannie, and all the other 'too-big-to-fail's. Hopefully the 'house' is winning on that one…

  • annamall

    This is dedicated to Lester, if you see this RIP!

    http://www.youtube.com/watch?v=kn481KcjvMo

  • TwoJacks

    my take on the market's bad breath:

    http://twojackstrading.blogspot.com/2009/08/bre

  • http://trading-to-win.com/ DavidDT

    I just realized – LESTER was MOLE!!!

    There was a reason you call him Mo-Lester!!!

  • http://www.ambgtrading.com/ amgrant

    There are four: Black Thursday, Friday, Monday, Tuesday.

  • Squidman

    Don't worry sweetie, another sad stray will come along–hopefully without the terminal illness.

  • thelefteyeguy

    …im a noob…but i finally understand the chart you posted about W3 (min req)…

    im assuming you are expecting W4 to start soon.

  • bist

    Wow LVS???

    From what I read it looks like they're trying to reduce their debt by 0.5B and refinance their debt to a lower rate.

    Solar stocks got hit hard today – I'm assuming because of LDK's poor earnings. Maybe it's time to pick some solars up.

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • thelefteyeguy

    so never on hump day …

  • thelefteyeguy

    …shhhh….

  • annamall

    ROTFLMAO hahahahah

  • http://trading-to-win.com/ DavidDT
  • http://trading-to-win.com/ DavidDT
  • m123456

    funny you mentioned that. i just took a stress test this week. the ticker checked out. so I'm good. Just really trying to understand the situation. I understand traders trade and make money either way. It just boogles the mind that no one seems to think there's something really wrong that we things changed so drastically. I mean I made some money back so that's good but it just seems so…wrong. almost immoral. god forbid something bad happens and this bubble bursts seems like there could be rioting in the streets.

    damn i sound melodramatic. I'm gonna just shut up and keep my fingers crossed things work out for all.

    sorry to blab.

  • ACJ

    the People love it, that's why. You didnt' hear them “complaining” when home prices were “appreciating” 10-15%/year, you aren't gonna hear it if the market does it either. They are loving seeing their 201Ks recover……

  • annamall

    Yes Squiddy, Let's hope for no more of the gambling till you drop attitude, I did feel terrible for his son/family. I wish them the best. 🙂

  • annamall

    yea me too, unfortunately.

  • http://trading-to-win.com/ DavidDT

    right, and if we get slight pop in the morning – I will double my position.
    As for stops – I will have to revisit charts tonight, but prior calcs were really tight

  • http://trading-to-win.com/ DavidDT
  • http://trading-to-win.com/ DavidDT

    I understand and share your feelings completely, but
    is there anything we can do? Don't think so, I am not as idealistic (or extreme) as Karl Denninger
    SO, I prefer to do it “The Edge” way:

    ~~~~~~~~~~~~~~~~
    Charles Morse: You know, I once read an interesting book which said that, uh, most people lost in the wilds, they, they die of shame.
    Stephen: What?
    Charles Morse: Yeah, see, they die of shame. “What did I do wrong? How could I have gotten myself into this?” And so they sit there and they… die. Because they didn't do the one thing that would save their lives.
    Robert Green: And what is that, Charles?
    Charles Morse: Thinking.

  • thunda72

    Amen, brotha… But boy… when the next leg down drops, there will be much gnashing of teeth. Only THEN, will there be blood!

  • thunda72

    Interesting chart… Stochasticmadness, huh? 🙂 but what is it prognosticating?

  • Mr. Burns

    Mole did him a huge favor.

  • springheel_jack

    Likewise. I'm glad he got out of his calls today wirthout losing too much.

  • springheel_jack

    +1 Anna,

    I went mostly to cash a month ago. Not playing with big positions until P3 starts, although I'm planning to get Geronimo next month & will be playing larger positions on that.

    This has been a hard summer for bears.

    Had a great day today though.

  • springheel_jack

    We've all tried but he isn't trading here. He is just gambling & losing.

  • http://trading-to-win.blogspot.com/ DavidDT

    what a close – 101.57 – right at price to cancel my 5 min setup! But longer teimeframes are still valid.
    I hoped for perfect entry so much – it had to be between 101.53 and 101.56
    0.01 off 🙂

  • http://trading-to-win.com/ DavidDT

    that is the way Eric called it…and it is the very last of my tools 🙂

  • http://trading-to-win.com/ DavidDT

    never hesitate to ask questions

  • http://trading-to-win.com/ DavidDT

    never hesitate to ask questions

  • minus273

    Hey, I tried to reply to your email, but get a permanent delivery failure.
    host evilspeculator.com[67.225.179.227] said: 550
    No Such User Here (in reply to RCPT TO command)

  • minus273

    Hey, I tried to reply to your email, but get a permanent delivery failure.
    host evilspeculator.com[67.225.179.227] said: 550
    No Such User Here (in reply to RCPT TO command)