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Tonight We Dine In Hell
72

Tonight We Dine In Hell

by The MoleJanuary 23, 2014

Seems like tonight we dine in hell – I wonder what’s on the menu – fortunately I like it hot and spicy. Not sure what triggered the sudden move today and neither do I care as I have long given up to intellectually explain equity gyrations. Life is better that way and I can focus on taking each day as it unfolds void of directional bias.

There was an inside candle setup on the spoos yesterday but I didn’t dare suggest it as the prior three got chopped to pieces. Should I have perhaps? I don’t think so – hindsight is 20/20 and as I’ve pointed out on numerous occasions: in this crazy tape the only way to win is not to play. Some of you however may wonder whether or not we are looking toward a more substantial correction and let me try to answer that.

Technically we are a bit thin on context up here – the daily has sliced through its 25-day SMA and although that has happened once before in early January this needs to be reversed right away or it could have legs. Of particular interest to me is the weekly NLBL at ES 1809 – if that one gives we are probably dropping another 50 handles.

Here’s the volume profile chart and as you can see we are steeply dropping off after 1817.5. Anything below 1812 is bearish territory. You can try a long here above the volume hole but I would be cautious – why you’ll see below.

The YM is just looking sad – it has been for days now. The weekly NLBL at 16,114 is the only technical hurdle that I could imagine would offer support. Especially given the volume profile chart:

That’s right – I warned you about that in reference of the spoos – that thing sliced right through its volume hole and it may just continue. Again, the weekly NLBL needs to provide support here or we are going DOWN!

That’s all I got for today – no setups as futures and forex have painted big moves in the past day and chasing along here is very bad medicine. Let’s see if we can establish support/resistance zones and then we may consider some new entries across. FWIW – I’m actually pretty jazzed about the prospect of a correction here. Technically it’s very difficult to cut charts and setups in effervescent tape without prior resistance/support levels. So this could be the type of shock treatment the market has been secretly longing for.

Finally and in case you wonder – yes, the TF long I was spouting about went to the woodshed yesterday night at break/even. Nothing lost but a bruised ego. No, not really – as you know I don’t get married to my trades 😉

It’s not too late – learn how to consistently bank coin without news, drama, and all the 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.

Cheers,


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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  • https://evilspeculator.com molecool

    OMG – thinkorswim sucks so bad now… painful…

  • http://dartht.blogspot.com/ Darth_Gerb
  • newbfxtrader

    What are you talking about?

  • http://dartht.blogspot.com/ Darth_Gerb

    Time to Harden the Fuck Up, and SCALE UP.

    you are, a professional yes?

    https://www.apple.com/mac-pro/performance/

  • tradingmom

    I’m seriously behind in posts and comments, but thank you for switching the hourly zero back to cash 🙂

  • tradingmom

    Are you still sending out the trend day alerts?

  • http://dartht.blogspot.com/ Darth_Gerb

    MoMMy!

    [DOW -201]

  • Skynard

    They wanted to upgrade in the middle of a session.

  • CorporalCarrot

    Hi all no time for usual long post. Things panned out as expected. Just covered all Dow shorts from the top. Now outright long in ltbh account, preparing for leverage long in trading account. Think this is final flush out of the reallocation I have been talkin about. Expect long term buyers to come in soon. More this weekend.

  • https://evilspeculator.com molecool

    Ah – they failed today. I’ll look into it.

  • http://dartht.blogspot.com/ Darth_Gerb

    get those bids in folks. trade your plan.

  • https://evilspeculator.com molecool

    I just spent $4k on my MBP a bit over a year ago. You shouldn’t need a super computer to run this fucking app.

  • https://evilspeculator.com molecool

    Of course I may just raise the sub fees a bit more to account for TOS hardware requirements.

  • http://dartht.blogspot.com/ Darth_Gerb

    I agree. too bad we couldn’t diagnose it by confirming same behavior on an identical setup?

  • https://evilspeculator.com molecool

    We are talking OS X mate.

  • https://evilspeculator.com molecool

    IF someone runs OS X Lion and has TOS I would very much appreciate it. Put up more than five charts and show the memory usage.

  • https://evilspeculator.com molecool

    Looks like a wipe out today…

  • http://dartht.blogspot.com/ Darth_Gerb

    yeah. I get suspicious of these things.
    [only the paranoid survive]
    I look forward to your weekend analysis.

  • http://dartht.blogspot.com/ Darth_Gerb

    Treasury Breakout attempt, IMHO.
    question will be will it reverse or not on the weekly.
    [TLT[
    http://stockcharts.com/h-sc/ui?s=TLT&p=W&yr=2&mn=0&dy=0&id=p62887454653

  • SS_JJ

    What an awesome day!!! 😀

  • http://dartht.blogspot.com/ Darth_Gerb

    nonsense.
    NUGT is only up 8% today. pathetic.
    😉

  • Skynard

    Don’t forget to take profit:)

  • http://dartht.blogspot.com/ Darth_Gerb

    anyone notice the QQQ’s aren’t exactly running scared? (hourly)

  • Skynard

    Holy shit, TNX down over 3%. Interest rates back down now.

  • newbfxtrader

    Well what are you waiting for. You should have let me build a server for you. Would have run circles around your Mac for same price. We discussed this some time back.

  • Maumaj

    When I’ve got 8 charts open in the grid, the % varies from 8 to 74 but is mostly below 50%. I normally only have one chart open at a time and by toggling between them, the CPU usage stays below 10%

    http://content.screencast.com/users/Maumaj/folders/Jing/media/b439875a-15e6-492d-8c6c-397229026806/00000451.png

  • stovis

    Here’s my TOS CPU usage. Yep, 224.5%.

  • Skynard

    /NG tanking:)

  • Skynard

    Stovis, where can I find that info?

  • newbfxtrader

    Daily Zero FTW!

  • stovis

    Go to Applications > Utilities > Activity Monitor

  • http://dartht.blogspot.com/ Darth_Gerb

    no processor affinity? what kind of OS is this?

    😉

    http://www.bresink.com/osx/0SystemLoad/Docs-en/pgs/0100-Usage.html

  • Skynard

    Got it thanks, only been on Mac for a few years.

  • newbfxtrader

    Come back….

  • Skynard

    No FN way, first system that I owned not one hick up for 2 years. NEVER will go back to DOS POS!

  • newbfxtrader

    I dont have hiccups either. Rarely even restart. You should look into paying for your porn….

  • Skynard

    Owned em all my life and career, never ounce did they run efficiently. Headache after another. They still do not duel process.

  • newbfxtrader

    Comes loaded with crap. I usually build my own or format and reinstall windows, office and trading platforms. I dont install games on main trading PC. Never had problems for years.

  • newbfxtrader

    http://www.microsoftstore.com/store/msusa/en_US/DisplayHomePage

    If you buy it from microsoft comes clean with no preinstalled crap.

  • Ronebadger

    I rarely play it…but today was too good not to short

  • Skynard

    Sweet candle:)

  • Skynard

    Have noticed many blow-offs over the past week.

  • Ronebadger

    I like blowoffs….wait, that didn’t sound right…

  • bdoone

    AAPL(+.6%) is 12% of QQQ, MSFT (-.02%) is 7.4%, NFLX(+16%) is .5%.. QQQ 88/COMP 4200/NDX 3600 must hold:retail loves round numbers

  • Skynard

    See if it holds em.

  • http://dartht.blogspot.com/ Darth_Gerb

    time check.
    clean up your books.

  • Skynard

    Just went short /LE

  • SS_JJ

    So what’s for dinner? They have sushi in hell? 😉
    http://bodysushi.pl/wp-content/gallery/body-sushi-extaza/body_sushi_extaza_2.jpg

  • Rightside_ot_trade

    /CT double inside day with yesterday a hammer (or hanging man) and today a bearish candle, though it could be seen as consolidation before continuing the strong uptrend; support down at ~84 at the 25 SMA and Sell line. Room to run up on the weekly

  • https://evilspeculator.com molecool

    They do – I just had some tonight!

  • https://evilspeculator.com molecool

    Do me a favor and complain to them. Because if it’s only me it won’t get much attention.

  • https://evilspeculator.com molecool

    I do run Windows in Parallels – works very well. But OS X rules – plus I’m a Unix guy.

  • https://evilspeculator.com molecool

    I do! 🙂

  • https://evilspeculator.com molecool

    Look guys – I have been in this game for a LOOONG time – used to develop for coin and build/configure networks. I know my way around the command line. If I say there’s a problem – there’s a problem on OS X. And I don’t have any malware as I keep my system absolutely clean. Obviously the processes panel shows that.

  • https://evilspeculator.com molecool

    I think they have a memory leak – this is absolutely unacceptable.

  • TexasRube

    can’t get my mind off those Lotus Blossoms…

  • newbfxtrader

    Ha ha. You still long GBP/NZD with me?

  • TexasRube

    yep, added at 2.0, enjoying this trade

  • newbfxtrader

    Too early to add. Wait for it to clear the previous highs….your getting greedy! I am looking for a 1000+ pips on this one.

  • newbfxtrader

    Guess what I am looking for…

  • phylum

    Would you rather go to heaven and just put out the clouds then bring in the clouds or have Sushi at Evil Speculator:)

  • jesterx

    the YM is really messed up. And laging other indicies are hitting highs.

    Here is the clue, FINANCIAL SECTORS getting crushed CHART HERE => http://bit.ly/1eX4CfT

    That was the clue last time, so we could be about to see 1790 – 1800 on ES soon.

  • Skynard

    Low tested on the /YM, long now and if taken out market is in trouble.

  • Skynard

    Chart

  • Skynard

    /LE, anything above 144 is still bullish. See what happens, could be a little stop run.

  • newbfxtrader

    Market is in trouble bro! Did you take any yen pair shorts?

  • newbfxtrader

    @texasrube:disqus protect some profits. We are not done on this one yet. Give it room to breathe. You are welcome!

  • tradem4alpha

    I love the smell of volatility in the morning (those yen pairs are en fuego).

  • Skynard

    Have a small pos AUDJAP

  • Skynard

    /NG, looks to be the end of the line. Like the push in both directions. Have shorted again.

  • https://evilspeculator.com molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨

    ¨°º¤ø„¸F R E S H „ø¤º°¨

    ¸„ø¤º°¨ M E A T“°º¤ø„¸

    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • https://evilspeculator.com molecool

    Esos pares del Yen están en llamas.