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Archive for February, 2009
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February 27, 2009

Welcome To The USSRA

Well, it’s done folks – welcome to the USSRA, the United Socialist State Republic of America.

I think this Rammstein clip will get you in the right spirit comrades. Oh, btw – if you have a flag hanging on your porch, please note that there has been a slight change:

For the record (and to preempt you xenophobes), I have nothing against Russians – especially when they look as hot as those gazelles in the video. Yummmiieee!!!!

Oh, and in other news, comrade Denninger was awarded AIM’s 2009 Reed Irvine Award for Grassroots Journalism:

UPDATE 8:28pm EST: I almost forgot today’s Zero [...]

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February 27, 2009

Battle Of The Titans

UPDATE 2:20am EST: Well, we’ve been seeing higher highs and higher lows since the open – we filled the gap and have bounced back since then. This chart looks interesting:

While the Spiders are painting what could be interpreted as a bear flag the XLF’s channel is pointing down. Which side will win? I think we’ll know soon.

BTW, yes – this is a chapter of my rare edition book of evil market sorcery.

UPDATE 2:55 pm EST: LOL – we’re really not going anywhere today – feels like I’m spending the day at Six Flags. I’m going to break early for lunch and then kick back – don’t feel like [...]

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February 27, 2009

Daily Fibs

UPDATE 10:40am EST: We busted a little higher and retested the prior support 741.02 line, just as promised.

As you know I reloaded around 742 and am prepared to hold those suckers even if we close that gap, which also happens to be the 38.2% fib line. Coincidence? I think not.

UPDATE 12:09pm EST: Nice little zigzag you’ve got there!

At this point there’s a good chance the gap will be filled.

UPDATE 12:48pm EST: It seems the NQ is leading the pack again today folks – keep an eye on it if you want to get a feel for where the tape is heading.

UPDATE 1:18pm EST: Bulls are fighting like mad to hold the old 740 line after [...]

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February 27, 2009

650 Or Bust

UPDATE 9:19am EST: I just got up and checked my ES futures chart, which at the time of me writing this is trading at 734. Even if you factor in the PREM I expect the SPX to open beneath its November 21 low of 741.02.

UPDATE 9:36pm EST: November lows have been breached. Get ready to take partial profits as I expect us to push into Minor 4 of (5) in the near future – could be today, could be tomorrow but it’s good to take some of it off the table.

The gates of hell are open for business. Hey, mouth breathers – remember how I promised you on September 18 that my revenge would be cruel and merciless? I was NOT kidding.

YOU [...]

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2312Riders participate in the 74th "That Famous Preston Night" Rodeo in Preston Idaho, August 1, 2009. The annual event is billed as one of the region's biggest rodeos, bringing top riders and thousands of fans to the small southern Idaho town. Photo by Colin E. Braley
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Cognitive Bias Carousel
  • Sunk Cost EffectSunk Cost Effect
    The tendency to treat money that has already been committed or spent as more valuable than money that may be spent or acquired. Also known … more
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