Bear Slaughter Monday Rub Down

I had a live camera running at the NYSE and here are some of the most gory scenes I had to witness today:

BTW, it has occurred to me that some of you might not get my constant references to the movie ‘300′. Well, there’s more to it than just the gory and nobody describes it better than Matt Tiabbi in his latest piece.

The counterfeit nature of our economy is troubling enough, given that financial power is concentrated in the hands of a few key players — “300 white guys in Manhattan,” as a former high-placed executive puts it. But over the course of the past year, that group of insiders has also proved itself brilliantly capable of enlisting the power of the state to help along the process of concentrating economic might — making it less and less likely that the financial markets will ever be policed, since the state is increasingly the captive of these interests.

I finally took the time to update my TYX-BAA spread chart again - which as you know I have to do manually. And it pains me to say that the data makes complete sense now as it supports what the daily zero has been screaming at us throughout the past week.

During none of the past drops did the spread bother to budge by a millimeter - on the contrary it keeps pushing towards the 2.0% mark.

My NYSE observer Bruno stationed in Manhattan just confirmed to me that ‘risk ist in und bearish ist aus’. There you have it, rats - Bruno is focused like laser on the Wall Street fashion world.

Today’s session is probably one of the most unnatural looking ones I have ever seen in my trading career - that perfectly geometric channel up should be referenced in a TA chapter on channels - it’s a rare find. It’s also one that cost me a shitload of coin as my bearish stance was tested to the breaking point. Short story is - I have committed myself to letting my puts expire - no matter what. This is however something I do not recommend to any of you rats - if you cannot afford to lose the money you got sitting in puts then just stay in cash until this tape confirms a trend change. I know - I keep harping on that but based on the desperate and frustrated comments I keep coming across a lot of you guys seem to be way too over exposed.

Wave count - well, I really don’t have to put up another chart - bottomline is that blue is in and orange is almost out, UNLESS we see a strong snap back tomorrow. Which probably is what many bears are hoping for, which is I don’t think it’ll happen. Today was extremely bullish with NYSE A/D ratio closing at a solid 4.84.

Program Trading Update:

geronimo/ES: +5

That’s my one consolation - geronimo loves a dropping VIX, which is an observation that will soon be implemented as a new rule. Also, since Thursday morning geronimo has been running via MultiCharts - so guess what - no more empty alerts! Wohooo! Thanks again to Eric who’s been busting his butt to make this happen in record time. He’s now working on instant message alerts as well - which are coming soon

A final thought: Many of you have had a lousy day and I’m going to ask you for a favor. Go out there and hit the gym or take a walk around the block. Don’t go home and let your frustration out on your wife/girlfriend, your dog, your children, or that damn neighbor of yours who keeps using your green trashcan when clearing his lawn. In the end it’s just money - I know this sounds a bit silly but simmer over it. You decided to trade an obvious erratic and manipulated market - and particular the latter is something we know but accept as a fact, thus we don’t blame our losses on it. So, you made your choice, so don’t fret if the big boys just took your lunch money. You own your trades and it’s not someone else’s fault - either you are smart enough or connected enough to survive this tape, or you are not and today had to pay your dues. I am one of the losers today but I knew that we would get a rip 10 days ago and I warned all of you about it. The difference is that I am long term positioned and that I don’t care if my puts expire worthless. But again, I’m completely crackers, and I encourage you to not trade the way I trade because I don’t want to see you get wiped out.

Cheers,

Mole

This entry was posted on Monday, November 9th, 2009 at 5:49 pm and is filed under EOD Wrap Up, geronimo, zero. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

molecool

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¨°º¤ø„¸ N E W „ø¤º°¨
¸„ø¤º°¨ P O S T ``°º¤ø„¸
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NeboXian

The fifth bear trap the bulls have laid since MARCH!

The Market makers are calling for 1120 buy end of the year .... after today's action It wouldn't surprise me to see it tomorrow..

After the poor Friday performance the bears gave. With a gift of 10.2% unemployment report, I don't think they have it in them to significantly push the market down more than 2 maybe 4 % max at any one time.....

The Bulls have the power via the FED to Gut the US Dollar at will and they have unlimited supply of Central bank cash to push this market higher..and the O'Man wants a weaker Dollar because it help the US Export Market......so it is a loser to be a bear for more than a few hours....So We make the Bull Penguin Fly!
http://1.bp.blogspot.com/_HgdrL0ePyks/SviyfnQo_...
It's not really a bull use your imagination

Centrifugal_Deforest

¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
¨°º¤ø„¸ N E W „ø¤º°¨
¸„ø¤º°¨ P O S T ``°º¤ø„¸
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DavidDT

chart posted on Saturday
http://screencast.com/t/vGwFK3E3d3u1

this is where it stands today
http://screencast.com/t/f9FIK2Pmcg

everyone short from the close? right?

fa_q

Ay ay, cap't.

Old Fred: Now whatever you do, don't touch that button!
Ringo: Which button?
Old Fred: That button.
Ringo: This button?
[presses the button and is ejected]
Ringo: Aaaahhhhh!
Old Fred: That was the panic button.

Stainless_Steel_Hamster

stayed short, thought B would be milder

DavidDT

that is unpredictability of Bs (BUT - if it goes that far and works - imagine how options would pay?)

Stainless_Steel_Hamster

if this one ends with spx 920 and gold 1300 it will ha´ve to do....

fa_q

Goddammit, the place is like fucking Groundhog Day. 5 days up "We're going to 1200"; 5 days down "we're going to 900"; 5 days up "we're going to 1200"; last week "P3 has started, we're going to -100"; today "we might dip 5 points at 1200 on the way to 3000"

And it's not just this thread, it's the whole internet. Karl's site is the absolute worst. Everyone there is convinced we're always about to crash and when we don't the market must be rigged.

If you wait for a trade to come to you, you will almost always get an exit. When you chase a trade, you will rarely have an exit.

Bart7

bravo!

molecool

SNORT!!! Best fucking comment here in a long time. Thanks so much for making that point - that thought had occurred to me as well last weekend :-)

1+

DavidDT

yup
it's been a while since I vented here :)

BigHouse(Aka Mr Vix)

LOL. Primary Wave 2 is going to go down in the History Books as the biggest Fuck . Wait till Primary Wave 4. That will be one big sideways movement for about a year. I promise to close my account down when Primary wave 3 ends...Remember this pain b/c its going to be worse for primary wave 4...Elliott Waves always suck in wave 2's and wave 4's in all degree....

Bankster

Maybe Obama Bernanke Geitner has canceled P3.

Stainless_Steel_Hamster

corrections can be postponed, not canceled

JBMorgan

Yeah, based on EWI, I'm waiting for the W-X-Y-W-X-Y-W-X-Y-W-X-Y quad P2 fakeout that will rollover at some point in 2014. Counter-trend waves move up in 3, unless of course it's 6... or 9... 12

Stainless_Steel_Hamster

personaly I'm waiting 4-U-2-S-T-F-U

p.s. yes, EWT just gives likely destinies and turns on the road, live with that or find other indicators as complement

ZigZag

Don't fall in love with P4. :-)

BigHouse(Aka Mr Vix)

AT least you didn't post Erikd's Roof Top.....

Bear Claw

When I read this I about spit soda all over my keyboard lol! +1

psycho_puppies

When P3 is completed we’ll have beiger things to worry about.

DavidDT

well said

Stainless_Steel_Hamster

good evening dave!

(ok, already had my HAL9000 moment of the day)

What's Dmark's view for the current market? (specialy with the dow top)

DavidDT

DOW stinks :(
too easy to manipulate, but damn wave structure changed today on hourly.BUT...on daily it just hit its target - idea fix is out of the way for DOW
http://screencast.com/t/ZgOTPSTNb7YZ

Stainless_Steel_Hamster

you won't see me taking like that before bpspx crosses MA13

did you see the chart?

Bankster

Where's the chart?

Stainless_Steel_Hamster

this thread, bit further down...

http://evilspeculator.com/?p=12582#comment-2248...

fa_q

Is that english? :) I have no idea what you're talking about.

I'm talking about backing and filling. Nothing goes straight up or straight down. Take the money when it's there and wait for it to come back to you. If you're scared it won't come back to you - look at a chart and see how many times a trade really never came back and how many times it did. Whatever side you're on.

Stainless_Steel_Hamster

BTW your statement is false in at least 3 components

1. long term the bulls lost and haven't recovered
2. short term ( 6 months) bears have had values not revisited
3. theta burns

fa_q

1 & 2) We're talking about trading. Not investing. Two completely different things. Nobody is on this board to figure out their equity/bond ratio allocation over the next 30 years. Nobody here is talking about 6 months ago. 5 days ago we were going to 700. 5 days later we're going to 1200. If you truly are positioned for the next 6 months then one day of trading matters not at all and you shouldn't be bitching (not saying you are, but we sat through hundreds of "should I cover" posts today). Which brings me to another rule: if you have to ask an anonymous board of internet guys what you should do with your money - maybe you've got the wrong hobby.

3) If you're playing options and you a) not using it as a hedge; or b) not a very sophisticated trader...you are foolish in my opinion.

NeboXian

Is that "not sophisticated trader" as in 1.)not trading K.I.S.S. ? or 2.)not trying too trade to cute and out think the market? or 3) not have a trade plan that fits on a 3x 5 card ? or 4.) Not over loading one self with a new trade concept every day?

DavidDT

"if you have to ask an anonymous board of internet guys what you should do with your money - maybe you've got the wrong hobby."
classic

Stainless_Steel_Hamster

i said you didn't, nor won't, hear me jumping from one position to the other without BPSPX (spy bulish index) crossing the 13 day moving average

Bankster

Are you bullish or bearish?

Stainless_Steel_Hamster

bearish until we reach 68 or 55 on bpspx on a november timefrsme OR until it crosses 13 day moving average

zstock, Pro Select!

Here's 2 stocks won't be helping the DOW, when they get to their short sell price--
AXP,ABX charts, click here New chart, and EPS target price calculations--
3 weeks ago, CVX calculated to $78, w/ this method--If CVX is above $78, kick ME!

Stainless_Steel_Hamster

I continue a bit disturbed by mole's avatar

would like to propose some alternatives:

1 "I read comics"

http://fantasticfour.ugo.com/images/villains/mo...

2 "I'm a star...mole"

http://stevejanke.com/archives/mole.jpg

3 "go ahead and hit me"

http://www.ibabuzz.com/insider/wp-content/uploa...

4. NSFW "traffic booster"

http://89.238.137.226/flash/brunette-in-black-l...

molecool

If it disturbs you then I picked the perfect one :-)

Stainless_Steel_Hamster

why scare an honest hamster?

BigHouse(Aka Mr Vix)

If we make new highs in spx and nasdaq. Kiss those March spy 2010 70 Puts good bye. They will Expire worthless. Wipe your ass with them....The options you should be looking at is DEC spy 70 2010 puts......RIP you shitty MArch puts....

ClutchShorter

"Let’s start with foreign markets and work our way back. When investors got word that the Chinese banks were deciding to slow lending in August, the Shanghai Index fell 21%. If the Fed announced last Wednesday they would be removing some of their accommodative policies, there’d be no doubt in my mind we’d be trading below 1,000 on the S&P 500 at this time. The Shanghai Composite is recouping from that correction at 3175 after bottoming near 2700."

TomOfTheNorth

I guess we're overbought.....who woulda thunk it?

http://www.zerohedge.com/article/sp-price-oscil...

hank30

I'm euphoric...this madness is reaching its climax. At least for the rest of the year.

Stainless_Steel_Hamster

Sorry to bother, but could someone look at BPSPX (I posted links down there)

BTW spx:gold seems to be backtesting only, down breach seems to hold, tomorrow will tell

ClutchShorter

Hey, at least my 401k is increasing in value =)

TomOfTheNorth

I'm holding TZA, SDS & QID in mine......<sigh>

On the plus side, have you seen my 3 sure fire business ideas for The Great Depression?

http://outsidethe-cardboard-box.tumblr.com/post...

spudthorpe

Please explain something to me.

Anyone paying attention to technical analysis and particularly Elliott Wave analysis expected this bounce. We all knew it was likely to retrace a minimum 61.8% to SPX 1073. We all knew a 78.6% retrace to SPX 1086 was entirely normal Wave 2 behavior. And now that the behavior we expected has come to pass, we are all running around with our hair on fire. Why?

I'll grant that we modestly surpassed the 78.6% retrace on the SPX. I'll further grant that I don't like the new high on the Dow, or the strong A/D ratio today. Most importantly, I'll grant that the markets are sure to punish my hubris in posting here with immediate new highs on all indices.

But seriously. We all knew from the start Wave 2 would be an aggressive retrace that was SUPPOSED to fool people into believing the original trend had resumed. We should all be prepared for the possibility of new highs. But why - with the exception of Mole's "damn the torpedoes" approach - is everyone on this blog and elsewhere running in terror from their previous belief that this is a Wave 2 bounce prior to a Wave 3 decline, when the market the last couple of weeks has been a textbook (if aggressive) example of Wave 1 & 2 behavior?

psycho_puppies

Without the extreme emotions wave counting probably wouldn’t work.

Stainless_Steel_Hamster

without extreme emotions equities would be smooth trends

molecool

"And now that the behavior we expected has come to pass, we are all running around with our hair on fire. Why?"

EXACTLY - which is why I pointed out the fact that I warned everyone about a wave {2} retracement. Now it might turn into something else but the signs were pretty clear. PLUS I warned everyone to do what I do - which is to hold my long term puts into expiration.

TexEx

I really liked what you had to say at the end of your post, mole. Cheers to you.

bergs

Actually were are sitting right on the 88.6% retrace; which is still in a wave two range. I'm always open to different looks for EW. Pretty strong push up today so yes I look for a mistake in the wave count.

Should we push up in the AM that which I posted will become the top count.

Stainless_Steel_Hamster

You seem to forget another stainless steel rodent...

But I hold my position on my view of real s&p, bpspx and bernafied wave counting....

molecool

Stainless steel rodent indeed :-)

Stainless_Steel_Hamster

we'll see during the next days, still holding on bpspx, did you take a look?

p.s. found something that confirms mole as an evil icon...http://www.incontemptcomics.com/toons2004/062104.gif

Tronacate

Excellent point.......wave two should bring bullish euphoria and bear depression.........duly noted

TomOfTheNorth

I'm not depressed.....HEAVILY medicated but not depressed.....

The Entertainment Speculator

Apparently you didn't get the memo... those 300 guys... working for god. And they thank you for the burnt offerings in your account.

molecool

I got the memo - see my updates last week. If you still think I didn't then tell me why.

bergs

Mole you continue to amaze me with your posts.

A thought? Puts 1200 in the headlights.

http://screencast.com/t/JDZ5PlDc0

Tronacate

Electronic Arts posted earnings on Monday that declined compared with last year, but profit topped analysts' forecasts. The company also announced layoffs of 1,500 positions in another round of restructuring and shares rose in extended trading.

Nice.......stock up.........1500 jobs bite it.

Tronacate

Obama just mentioned currency issues in his meeting with the Chinese next week. Maybe we'll see a dollar rally with a little attention from the Pres instead of the little fag Guidner.

LostIllini

Trapped Bears from Friday + GS Algo's = Short Squeeze Dujour.

The only people buying at these levels are bears who have very little choice, kinda ironic don't you think?

If these h&s's don't start taking the market down, I will be be in the next wave of squeezies.....

Excellent work today Mole!

TransworldDepravity

Now for something completely different. Fedor!
http://www.youtube.com/watch?v=IkkYkIw5dSc

TransworldDepravity

Drawing trend lines last night and found some interesting candlestick mirroring at the Fib arcs. Didn't capture it until today and looks like the index topped out under a major line from the march low.

http://www.screencast.com/t/UgwMKza8Vt

centerline

Just to share, FWIW.

Currently positioned long term short and short term short. If we get meaningful selling pressure tomorrow (most outperform previous fractal percentages), I will consider holding shorts further. No meaningful pressure tomorrow, I will likely close the short term positions and fully hedge long term positions - looking for potential new high by end of week / beginning of next week. If we close higher tomorrow, I will continue to hold all shorts, and might even add to my short term positions.

See everyone tomorrow. Time to go take my frustration out on a cheese-steak sandwich and some onion rings.

jr9876

geronimo/ES: +5
"- so guess what - no more empty alerts! Wohooo! "
Wohooo - I didn't get empty alerts, I got NO alerts ! Was I the only one ? And nothing in the spam folder from the 'new' emai alert address.

molecool

Well, something obviously went wrong - please contact Eric at geronimosupport@gmail.com immediately. BTW, I wonder why you post this on the blog - it's not that we have anything to hide, but wouldn't the prudent path be to contact us directly to sort this out? Just saying...

Tronacate

Dow's going to hit a big cluster of resistance. I doubt we retrace over 50%........but could go way higher.......in fact has anyone entertained a higher high over 14K in an expanding wedgie?

ItsOnlyPaper

ha,ha.
Ya mole, like Sam Walton said in October 1987 when he lost 2.6 billion "its only paper"

molecool

:-)

Stainless_Steel_Hamster

remember your trades are your trades

BUT

the hamster says the fall is still incomplete and I'll get scared at 68, but will probably hold till 55

http://www.uploadgeek.com/share-445F_4AF89B7A.html

http://www.uploadgeek.com/share-C607_4AF89DA3.html

AVE CAESAER MORITURI TE SALUTAN

p.s. balls of stainless steel drag you down a bit, the place is humming along, berk and chicken are back, I'll take mole's advice and make mrs. hamster smile

amokta

RE Mole holding on to his long-dated puts, does this means he feels there is a sufficient probability of a market down-turn within the life of those puts to keep holding, or is it that they have lost so much value already that might as well hold even if low likelihood f a market downturn.
I wonder if we are now in a 2003-2007 like up-trend in markets

rangefinder

Chicken

The intact BULLISH count is now v.5.III.

StainlessSteelChicken

On what, the indexes?

rangefinder

DOW

StainlessSteelChicken

Chart me if you've got one. I'm not sure what degrees you're talking about. Thx.

rangefinder

Chicken - techno befuddled at the present - can't chart. However, from 07/13 counting the peaks and troughs on the daily: 1.III, 2.III, i.3.III, ii.3.III, (iii->v).3.III, 4.III, i.5.III, ii.5.III, current iii.5.III - could complete as (iii->v) {as per my first post above} or we could have another oscillation before the expected major IV.

Very surprised its carrying upwards as given the 22 weeks cycle we should be heading down. Expectation for SPX1122 on this surge and completion of wave III.

Regards

StainlessSteelChicken

Just checking in, rats. I miss you guys but honestly, I'm glad I'm not watching this crap minute by minute. I'd have torn my freakin feathers out by now.

Dollar making new lows means my primary count is toast. I have no idea how to count the indexes but the C.O. is being a stubborn bitch on every bearish move, which says the trend is still up. For how long, I can't say.

Bears: John Doe has the upper hand!
http://tinyurl.com/ya43m75

BigHouse(Aka Mr Vix)

If we make new highs for SPX and COMP i'm done for the year .I'm going to turn off TOS and not look at it until after the new year..Fuck em. I bought my DEC 2010 puts and that all i'm going to do...Know one knows what the rules are anymore. It's a rigged game.....

TransworldDepravity

What strikes did you buy? 60?

BigHouse(Aka Mr Vix)

70's

amokta

jokers at ewi stu todays update - tomorrows price action will determine if p2 still in play or p3 likely - need a down day to keep p3 alive. todays action may have been short covering ?

Jigsaw

The Russell still looks weak here, looks like a text book bear flag with a ton of overhead resistance
IWM - http://screencast.com/t/dFkZOKxD

"Bear Flag is a sharp, strong volume decline, several days of sideways to higher price action on much weaker volume followed by a second, sharp decline to new lows on strong volume"

Bullturnedbear

Hi Mole,

What are you saying with the Baa Treasury spread? Are you saying because that hasn't turned, risk is still on and so equities have not turned yet? Sorry you have to spell it out for the dumbies.

Woolly Llama

I read everything you wrote and the only message I got was that it is ok for me to take this out on my neighbor's wife, kids, and pets. Can't wait to get home.

kryxtal

Double post

fa_q

Anyone have a TRIN count for today? The one I'm looking at is way too low to be real.

PRSGuitars

Closed @ 0.28, high of 0.53. Sounds too messed up to be true. But believe it.

Teich50

Also the ratio $NYUPV:$NYDNV was ~18 today, which was quite impressive. See http://stockcharts.com/def/servlet/Favorites.CS... .

I covered 1/4 of my /ES shorts at breakeven. I might need to save the ammo to add at /ES 1100+.

fa_q

Yeah, that's what I saw. 0.28. I may be upside down my trade right now but I wouldn't want to be someone who initiated a long position today.

Tronacate

Somehow.......I think there will be people jumping in in the am........and then they will get squashed pm........

TheMacroEconomist

Agreed that Blue is probably it now, a move above 1096 would confirm it for me.

On the other hand, an Orange-like scenario is still possible tomorrow if ES drops back below 1088. That would at least target today's pivot.

chartsandcoffee

The one nice thing about today's tape if you were bearish was that you never got your hopes up. $TRIN was pinned under 0.4 most of the day and there was never a moment during the day where I thought "here is the turn, maybe things will improve."

If you use the simulated trading data in Ninja Trader, there is a setting where it gradually moves the market up in a straight line. It felt like that.

One of the stranger trading days I've seen in a long time.

molecool

"The one nice thing about today's tape if you were bearish was that you never got your hopes up. "

LOL - that just cracked me up :-))

Graphite

I just had to replay this for myself after today's action and the wound-licking across the bear blogs: http://www.youtube.com/watch?v=mk74WprmZxY

Guest

centerline

What is funny is that the G20 said it will keep cheap money flowing - but also said a strong dollar is critical to recovery. Right away, dollar takes it in the can!

ultra

Yeah, today sucked, but I made a little back from FX so it's not all bad. Way too overexposed to front-month SPY puts from last week, yes. That was silly. Was pretty confident holding them over the weekend in the face of that bearish wedge it formed all through last week (admittedly two false breakouts, but one up, one down, they cancel... right? oh...). it's an education everyday.

One question I have - are the DXY charts you put up futures? Just wondering, as the $ held up fine against all the constituents on the cash markets so wondering how it can make a new low or is this just an expression of sentiment or what...?

TheMacroEconomist

No that's not DXY up top, that's TYX - the CBOE Treasury 30 Years Yield Index.

Since Bond yields move inversely to price, it's roughly the same shape chart as TBT, the UltraShort 20-year ETF.

ultra

Noooo, check out a couple of posts ago from earlier today

http://evilspeculator.com/wp-content/uploads/20...

ClutchShorter

I was doing a strangle spread analysis.

On Friday, if I purchased the following when SPY traded around $107
1) Jan SPY $108/$118 Bull Call Spread : 10 contracts @ Average $2.96
2) Jan SPY $107/$97 Bear Put Spread : 10 contracts @ Average $2.83

Today, SPY closed at around $109.6, they are NOW worth
1) Jan SPY $108/$118 Bull Call Spread : 10 Contacts @ Average $3.93
2) Jan SPY $107/$97 Bear Put Spread : 10 Contracts @ Average $2.14

Net profit of $.28 per contract or 5-6% ROI.

At the end of the day, one could have closed out the Bear Put Spread and let the Bull Call Spread run up. You have .$28 of downside protection to play with. OR you can just keep both positions and see how it plays out. If there is a strong move 5 points in SPY in either direction, the ITM spreads will increase in value faster than the OTM spreads that are losing value.

This is probably the way I'm going to play it. I'll start off small with 5 contracts 3 months out until expiration.

Woolly Llama

Don't like it, $28 per spread you mean? When you take out comm, e.g. $1.25/side @ TOS x 4 contracts, you are looking at $5 to get in and $5 to get out so you just reduced your profitability by ~33%

Tronacate

I'm going to the coin flip methodology.

Tronacate

Friday

"The market’s main trend remains down. The countertrend bounce that started Monday is in its very latter stages, if not already complete. Once the bounce exhausts, the market will be ready for the next leg down. "

molecool

LMAO - sniff ;-)

Stainless_Steel_Hamster

smile mole, take a look

http://www.uploadgeek.com/share-445F_4AF89B7A.html

http://www.uploadgeek.com/share-C607_4AF89DA3.html

68 is in order and 55 likely, otherwise put me in a box and burry me in the garden ;-) (and as a mole you can drop by and visit LOL)

jacksoo

great post again mole - very insightful. quick ? for you - how can you check participation rates on the US mkts? In Aus recently a study showed that participation by mom&pop had fallen to its lowest level in over 25 years - in other words they were saying 'screw you' to the mkt. You get the feeling 99% of the vol in the mkts is the '300 white men' and just kicking tyres - perhaps waiting to flip everything to the Fed as they might be the bag holder (Fed = tax payer).

Tronacate

Fired up to see EWI STU........let's see what the take on this deal is going to be........

molecool

Back peddling? ;-)

Tronacate

What bothers me is when I was a pure scalper I was successful in a big way. BUT.......since watching these huge moves and trying to catch most if not all.......my trading has gone down the shithole.......and now I can't rmember the thought processes I was using to hit the winners. I think back and believe the problems started with trading options and a futures account. In hindsight......I would just sit and scalp FSLR all day long. The problem is having to divide attention between work and this.......

Tronacate

Moi?.........I think I like my dogs better than fighting the tape........I guess that's a full backstroke........this has become an obsession

steveo77

Every time STU takes a strong stand...bet the opposite, cause thats what HBB is doing. The odds are about 85% that opposite works.....

Tronacate

I'm turning my monitor upside down this very moment.......and then placing my trades.......lol

steveo77

You will thank me later.....now if I could just follow my own advice.

I had long futures hedges from 1045 zone, working great...then I got cute and set a stop...which was actually exactly my written plan, then the market made a massive dip (aka stop run) and pegged mine...the bastards.

PRSGuitars

Stopped at b/e, 1027.25, the morning of the huge stop run before the mayhem. Blah. Like mole says, some days you pay your dues and some days you dont... but its always something you must OWN.

steveo77

I was thinking....I own about 10% of Goldman by now......hehe

steveo77

I OWN it, but they still are bastards....these are separate points.

PRSGuitars

Agreed. To borrow a phrase from Nandu Konat, "bastard guys"

Tronacate

I'm frustrated.......but am resolute in making money off this fucking market.......no turning back from a challenge.......

molecool

Don't make it a personal vendetta - there is life outside the markets.

Tronacate

True.......could play frisbee with my border collies.......but that would tear me away from a fucking computer screen....:)

gregn

I was going to buy a border collie about 10 years ago, but instead got a shetland sheepdog who recently died. I am choosing between a border collie and a bernese mountain dog currently.