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Thursday Channel Magic

Thursday Channel Magic

by The MoleJuly 9, 2009

11:26am EDT: While the tape decides whether or not to do a New Orleans on us, let’s see where our action points are:

I have to say – my channels are pretty spot on lately – let’s hope my streak continues. Anyway, the bulls will have to push above this thing if they want their fireworks – so far this looks more like a ‘stem the tide’ strategy. The bears have a lot of downside from here – ’tis a steep channel and nothing holding this thing if some big sellers show up. Interesting tape today – for now I’ll remain on the voyeur side of things – just watching and waiting (and playing with myself).

12:25pm EDT: This tape reminds me of a drill set up to slowly go through glass. Steady & slow pressure does the trick 😉

12:45pm EDT: A lot of action in FX today – just went short EUR/USD (I’m crazy – don’t do what I do). Anyway, the triangle in the Dollar so far has not been overcome and might still breach to the downside:

We could be completing wave E here followed by a drop towards 77 or 76.

1:00pm EDT: This is for Lester 😉

1:20pm EDT: And here it goes – no surprise there:

Goldman Sachs Trading Revenue May Beat 2007 Record, Moszkowski Note Says

BTW, if you got whipsawed to hell in the past quarter and lost a lot of money – I have an inkling who’s spending your coin on coke and hookers right now…

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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