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Wednesday Surprise
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Wednesday Surprise

by The MoleJune 3, 2009

10:37am EDT: That was a nice move so far – at least we’re not going to be bored out of our minds today:

Either we are done with Minor 2 – and that would make it a fast one – or we are pushing lower to fill that gap I’ve pointed out on the chart. However, I don’t like those Zero readings at all – for the bearish case. So, if you rode this thing down then take profits and ask questions later. Hey, maybe that’s why the bears don’t get retracements anymore – none of us dare to hold beyond a few profit points.

The NQ futures are retesting VWAP at 1469 right now – this is probably an important test of the day right now. Judging by the huge ass green candle I just saw there appears a good chance that the bulls are going to win this one. There’s a buyer here. The ES is lagging behind – but if it starts embarking to touch its VWAP at 933.24 we could get some fireworks to the upside.

Basically, this is a gut check for the bears – thus far they’ve lost every single fight in the past few months. I don’t think they’re going to make a stand right here. If you are short – be cautious and play it small.

10:51am EDT: Geronimo just filled its first successful scalp for the day. Nice… BTW, I am currently working on folding in the notification module – which turns out to be non-trivial as I have to make modifications to how it handles stops. I’m pretty sure this is going to take me another day or two. Working as fast as I can…

11:14am EDT: Boy, it’s dead in here again – seems like everyone has left since my Sunday post – LOL 🙂 Have to admit that the deafening silence takes a bit getting used to. For months I have been getting dozens of emails a day and not getting any yesterday tells me that a lot of people go wiped out or severely injured on Friday.

Which brings me to another thought – the boys playing those games will find themselves bouncing the ball to each other. You can only fuck with a majority of the small specs and funds for so long – insider trading has its cost in the long term. Meaning a lot of folks are going to look at what’s left of their trading capital and decide to walk away and probably not return for a while. Which is why I’ve been repeatedly saying that at some point there will be nobody left to sell to – if everyone is a mouth breathing bull – who’s taking the short side of your trade? This is something very crucial even many seasoned traders seem to forget – the market is a zero sum game – there needs to be someone on the other side who thinks the tape is going to swing the opposite way. If nobody is taking that trade then it’s only a matter of time until you get long squeezed  – and in a big way.

Well, back to my original comment – I’m not surprised to see so little traffic here. Most people visiting here have mentally labeled EvilSpeculator a bearish blog – which is partially true of course, for the next few years at least. Tim’s Slope is going through the same motions right now – a lot of people have fallen to the wayside. And all that is greatly encouraging to me – I am looking forward to the day when I make a post and don’t see a response for 15 minutes or so. That will be the day when I go massively short.

11:42am EDT: Not looking good for the bears. ES now at VWAP again (932.90) and it if breaches above we’ll see some fireworks. NQ looooon gone – its VWAP is at 1469.90 and we ar at 1474 now (were at 1477 a few seconds ago). It pains me to say this but the bears are back in hibernation.

BTW, do you rats realize that Geronimo has scalped like 9 winning trades out of 10 in the past week or so? I see very few comments here in the comment section and I’m also not getting much email about it. Is there any interest or should I not bother adding that notification module – it’s a lot of work, you know…


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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