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Time To Pack It Up
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Time To Pack It Up

by The MoleDecember 12, 2016

Equities have come a long way since our fortuitous (but most deserving) entry last week. Exhibiting an irrational exuberance exceeding even ole’ Greenspan’s wildest imaginations indices have mercilessly pushed higher way beyond our initial profit thresholds. Which means now it’s time to pack it up and call it an awesome Christmas rally.2016-12-12_spoos_update

I only had 25% of my positions left on the table but obviously I’m glad I did take the risk. At the peak it’s been a 60 ES handles ride which represents more than 10R in ill gotten gains.

2016-12-12_spoos_lt

But let’s not get greedy (heck, did I just say that?). The weekly panel shows us quite a bit extended at this point and although it’s quite possible that we’re going to see 2300 before a meaningful correction I have decided to call it quits here. I actually scrolled back all the way to 2009 and couldn’t find one instance in which the ES futures traded outside the upper 25-week BB for more than one candle – gravity usually sets in here, at least temporarily.

2016-12-12_6a_update

Quick update on our Ozzie futures (AUD/USD) campaign. I’m now advancing my stop to 0.5R as this one needs to get out of the gate after this many gyrations. Plus we’re now in our final week before all the serious players are leaving for the Hamptons (or the Gstaad here in Europe). Let’s get this show on the road! To the upside if at all possible.

More below the fold for my intrepid subs:

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Under The Weather

Unfortunately I’m feeling a bit under the weather today and please forgive the lack of Mole-mojo in today’s update. Apparently one of the 20 cups of Glühwein I had this weekend must have been bad 


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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