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Thursday Rub Down
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Thursday Rub Down

Thursday Rub Down

by The MoleApril 30, 2009

Damn am I glad this is over:

Participation died out completely after today’s peak – all we got after that was a healthy serving of market maker sponsored whipsaw. I think BalaB, ErikD, Keirsten, and I could have pushed the market in either direction would we have tried it.

I’m in a foul mood – didn’t lose any money today – actually made some. But those blatant hit and run jobs deeply upset me and it will completely eviscerate equity markets over the long term. Once this thing turns – maybe by the end of the summer it’s going to be bad – very bad. Because there will be nobody left buying once the escalation to the downside starts.

BTW, nice sell off now in the last 15 minutes as I’m typing this (about 4:08pm EDT). ES now at 867 – NQ at 1390.

I need a drink…

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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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