Tee-heee!!

Now might be a good time for you dirty rotten bastards to order your ‘evil speculator riding the black swan shirt’ – or in short, your personal evil-tease (click on image):

Remember, I don’t make a dime on those to keep the cost down.

SPX is red across all sectors – it’s a bloodbath out there – starts looking like Hades down in the pits. NYSE A/D ratio currently at 0.1113 – this is not a typo. For the noobs – that is BAD.

I think we can expect a bounce around the 1060 mark – not a big one – just enough to let this third wave sub divide and lead us towards 1035. After that the abyss awaits – get your fucking evil-tease – you will need them for the occasion.

I wish there was a subtitled version – you rats have no idea how applicable the lyrics are.

Cheers,

Mole

This entry was posted on Thursday, February 4th, 2010 at 4:46 pm. Both comments and pings are currently closed.


  • BigHouse(Aka Mr Vix)

    Got the evil shirt last week. Just ordered the dow 10,000 hat… I will wear both with pride has the market keeps dropping to 6,000 in the next 12 months or less.

  • WTFed

    Thanks Mole.

  • http://evilspeculator.com molecool

    BigHouse is trading in style :-)

  • http://it'sasecret hindyomen

    holy hades that is some heat map mole

  • BigHouse(Aka Mr Vix)

    Dow down 258 and its a ghost town on this sit..gezzzz

  • http://evilspeculator.com molecool

    Isn't that the coolest song?

  • http://evilspeculator.com molecool

    Looks like fucking hades – LMAO

  • http://it'sasecret hindyomen

    yeah sorry, i've been a bit busy here counting my money :D

  • BigHouse(Aka Mr Vix)

    Wonder if Ericd is out there with his roof top chart…

  • marcT

    I really wish we can see higher highs on the Vix.. and ole bucky please break 80!!! :D

  • aussiebinlaughin

    You had me going for the shirt in my bear eurphoria Mole, but you got no large left.

  • http://evilspeculator.com molecool

    10 comments – I usually get that in one day ;-)

  • http://evilspeculator.com molecool

    I'm gonna tell Piers to print more shirts.

  • http://evilspeculator.com molecool

    A/D ratio now at 0.099 – WOW!

  • de3600

    Roof top lmao its a fucking tower by now ready to implode

  • BigHouse(Aka Mr Vix)

    Watch how fast this market takes away bulls gains in the next 5 days….Happy joy joy

  • Tronacate

    Even my shitty entry SRS calls are coming around.

  • http://evilspeculator.com molecool

    Even a stopped clock is right twice a day.

  • raised_by_wolves

    If anyone was in doubt, Mole's soylent green is officially gone.

  • raised_by_wolves

    Unlike stocks, you're flying!

  • http://evilspeculator.com molecool

    I kind of said that this morning – anyone listening? You guys got to get on my twitter – missing out on a lot of fun (and some trades).

  • http://evilspeculator.com molecool

    High as a kite.

  • BigHouse(Aka Mr Vix)

    Below 10,000 lol hurray…..

  • Tronacate

    WOOOOOWWWWW……below 10K………that kicks ass

  • ijust8chris

    just closed under 10k dow, ruh roh

  • rosocecasita

    I'm going to dye my shirt Red btw =)

  • Tronacate

    CNBC will be saying……..”good bargains to be had right now”…….lol

  • raised_by_wolves

    You tend to post whenever I have to go. Unfortunately, I don't even have time to listen to the coolest song ever. I'll come back to it tonight or tomorrow though. Thanks for the updated Molecool-brand chart!

  • http://evilspeculator.com molecool

    I actually proposed red shirts to -273 and they said people don't like that color. Dunno – I like red better than white.

  • http://evilspeculator.com molecool

    Your loss.

  • Scoops

    I had to send my moo moo I mean es shirt back. Damn it they are sold out of Larges. If enough people pipe up any chance of getting another run or what? How about adding a Dow 10K to the next batch. Even better a Vix 90.

  • http://evilspeculator.com molecool

    Oh yes – please 'buy the dip' :-)

  • http://it'sasecret hindyomen

    LMFAO maria bartolodildo just said at the close:
    there were bright spots in the market today, CSCO was positive
    (!!)

  • raised_by_wolves

    I heard you. I meant to put a wink face after that one.

  • http://evilspeculator.com molecool

    Too late for the <10k shirts – just was breached.

  • http://evilspeculator.com molecool

    You know I'm hard to please ;-)

  • raised_by_wolves

    Like both of our trading accounts :-)

    Catch you later.

  • Jammer63021

    Hey Mole! Saw our boys Rammstein in Lisbon on the first concert of the tour. Fanatastic experience from what I can recall. They will be in Quebec July 10 you know. I think the new album, LIFAD, is great.

  • LogansRun

    Got my DOW 10k hat on! It's like we are heading back for some March lows. I know everyone talked about this happening but I never thought it could be so soon. Although I'm losing shitloads of money in my retirement accounts, it's still really exciting to see so many bulls get taken out.

  • Scoops

    “mrtopstep

    hearing all sort of margin stuff going on,futures/stock guys that sell dime puts are in trouble put up more margin or get out”

  • Scoops

    How about Dow 1K then.

  • rosocecasita

    For the bloodbath that will be;

    Speaking of which, did you see the shit the Treasury is trying to pull with 401k's?

    They want to make it an 'option' to buy T-Bills in every 401k, and then the prospects of making it the 'default' option, and then they discuss the prospect of converting entire accounts balances to annuity like products.. via T-Bills. Was on Zero Hedge: http://fwd4.me/ERj

    If they pass that, I'm cashing out the entire balance and buying Silver & Gold.

  • Nightwind

    I think we have sell and hold market.

  • LogansRun

    What is fascinating is that the market has ignored these foreign debt issues for months.

  • marcT

    Can't you put your retirement account into some cash money market funds?

  • marcT
  • http://evilspeculator.com molecool

    No, not ignored – the big cats have been legging out and their cash is now offshore, safely stashed in places without extradition.

  • http://it'sasecret hindyomen

    today's breadth is the worst since __/__/__
    today's up/down volume ratio is the worst since __/__/__

    does anyone know? tia

  • http://evilspeculator.com molecool

    Worst A/D ratio since March 5th, 2008 (one day before the very bottom). I keep telling you guys – it'll get very ugly moving forward.

  • http://it'sasecret hindyomen

    wow, i thought it might have been around then.
    thanks!!!

  • de3600

    Shit stinks….. air freshner only works so well for so long

  • http://evilspeculator.com molecool

    Quebec? COOOOL – I will fly there to see them!

  • http://evilspeculator.com molecool

    I'm off to the dentist – I better return to some nice charts. Smack talk is also encouraged – whatever humiliates the dip buyers the most.

  • momac

    Damn, I hope they slow this down some. I'm on vacation until Wednesday. Save some downside for me please. :-)

  • Tronacate

    I think we need strike teams to hunt the fuckers down at their favourite vacation spots and kill 'em. Just like Al Qaeda, they are terrorists of the common people(good).
    We just need the information…….pictures, addresses, relatives, favourite clubs. With the net it would be easy to make their lives living hell on earth. Steal their golf clubs, spit and piss in their food in the back, cut their scuba hose……all kinds of fun for the fucks that caused so many people so much pain.
    WORLDWIDE campaign against the purveyors of financial disaster for their own gain.

  • LogansRun

    Time to start buying commodities again like bullets. If more jobs evaporate people are going to start taking matters into their own hands!

  • PRSGuitars

    Could you say a little more, scoops? Does that suggest squeeze downward or is it just anecdotal stuff from the pit?

  • momac

    Or is it safe to load up on the shorts with a stop above 1075 or so? I have alot to make up after the past 6 months

  • Barcode

    We got the mini panic I mentioned last week.

    The McSums may give a positive divergence to provide a temporary bounce but 1080 and 1100 are major resistance areas now.

    This has the makings of 1998 again and we are at the same SPX levels as well which is a spooky coincidence. I still expect a low the first week of March and 960 level again (950 in 1998).

    I get the historical charts from //theoptiontrader.com

  • Anonymous

    Mole, You are a true evil genius. By the way I am lucky enough to speak German and those lyrics are brilliant. How does your Rammstein model notify trade signals given I live in New Zealand – only safe place to have your money :-)

  • Tronacate

    Have fun……I'm a dentist…..lol…..drill fill…….double bill

  • Scoops

    Mole or anyone can recommend a Twitter desktop gadget? I don't want a resource hogging all in one thing, just a Twitter gadget. Thanks guys!

  • newbear

    Mole, this morning I woke up and decided to put on your t-shirt plus the fact that I went fully short yesterday.

    Cheers!

  • Scoops

    It's just one of MrTopStep's tweets. Action straight from the Pits.

    He's saying it is ugly out there.

    http://twitter.com/mrtopstep

    <http://twitter.com/mrtopstep>

  • goldman1

    After the bell…
    http://bit.ly/bbVVjr

  • ClutchShorter

    Stop falling so fast. It's not giving me a chance to add to my shorts. Ahhhhh….

  • I_got_Prechterized

    Are we going to get a bounce tomorrow? I need to reload some shorts. Be honest here, did any of you permabears miss today's move because you were expecting a bounce? I covered 1/3 of my shorts yesterday and only reloaded about 1/3 of those back this morning. My biggest individual shorts are HOG and SHLD. SHLD has been a real champ, HOG just won't break under support.

  • shortcover

    that's the plan…just like the upside – nobody had a chance to go long. now nobody can get in short…

  • kryxtal

    I use “twitter explorer”. It works pretty well.

  • http://it'sasecret hindyomen

    flat here and neutral into overnight
    anything can happen since ES1059.25 was not a support level of any significance

    the scenario i prefer is sideways down motion overnight

  • CorporalCarrot

    No I did fucking awesome today. I've been saying for weeks now that people are going to miss this move because they are trying to be too fucking smart and trade every little bounce, and that lots of bears were going to get burned on the long side ironically.

    I nailed this today, as I said in pre-market I could see them breaking out the 10k caps again, and added to my short positions.

    Sweet day.

  • Sleepynaptime

    Last thread (open during market hours) had 368 posts and the dow was only down 268. Hoping for a 1 to 1 correlation. ;-)

  • Tronacate

    ^^^^^^^^^who's in???…….this needs to be done for the good of mankind. The military is going after the wrong mutherfuckers. How about a predator strike on Blankfeins office???

  • CorporalCarrot

    watch this folks, danny riley from mr topstep

    http://www.youtube.com/watch?v=5FkYtAJLwrA&feat

    “If we get a short covering rally tomorrow folks, we're selling it”

  • rg64

    Thanks Mole

  • centerline

    Then you gotta love Steve Martin in Little Shop of Horrors. Gonna use the other drill and really enjoy this – it's old … rusty… dull. LOL.

  • Tronacate

    ^^^^^^^funny….and true…….can't decide between equities or metals……..gold may bounce if fear gets out of hand like McHugh talks about.

  • rosocecasita

    What makes you think the Military Industrial Complex isn't Overseeing this?

  • rg64

    THanks for the post

  • gatopeich

    Thanks for the post. Wonderful sector chart.
    Here, a translation of the lyrics for Mehr: http://en.affenknecht.com/lyrics/rammstein-mehr/
    Enjoy!

  • DoubleNaughtSpy

    Dollar cost avg. into short ETFs has all I've been doing for months. Most of my money is tied up in retirement accounts so it's my only choice. I've been in pain but now is time for my gain!!!

  • Hamster_gold

    I confess, I was trading the bounce Tuesday/Wednesday.
    the daily sto was turning up.
    made some lunch money.
    Am I F'n smart? heck no!!! I'm F'in luckeeeee..
    cause I got out Thursday open!!! [what an abyss today.]

  • gatopeich

    Cool guy, so what's he selling?

  • joeynickels

    Another informative post and thanks again for yesterday's very clear EW post Mole. Everything was bathed in an eerie soylent orange light today and I rejoiced and remained in a very peaceful place.

  • http://dreadwinaard.livejournal.com/profile dreadwin

    My only regret today is that I did not hold my SRS calls (bought yesterday) longer. Currently holding SPG calls for their earnings tomorrow. If KIM can beat, so can SPG. I plan to sell these at the open. I think there will be a tentative, weak bounce as the labor numbers suggest that armageddon hasn't started … yet.

  • Hamster_gold

    there's so many jokes possible, i don't know where to start.

  • Hamster_gold

    Dude, when the locals got illegal around the military base in the Korean war.
    they just change the script (money).
    only the honest one's got exchange privies.

  • itsgold

    I have a target of 1014 or so before this move is over. Short every bounce is what I will be doing.

  • Tronacate

    Sad truth right there…….they WANT civil disobedience to sieze more power…….Blackwater is dying to see Americans take up arms so they can put those steroids to good use killing “domestic terrorists”…….I hate those fuckers.

  • talking

    Worst A/D ratio since March 5th, 2008 (one day before the very bottom). I keep telling you guys – it'll get very ugly moving forward.

    what do you mean by the above quote. ugly for the bears (like March 6 or ugly for the bulls?
    thx,

  • gatopeich

    Just make'em RED!

  • http://it'sasecret hindyomen
  • http://dreadwinaard.livejournal.com/profile dreadwin

    I think $RUT is oversold, and there will be a bounce tomorrow before things get more ugly.

    http://www.screencast.com/users/dreadwin/folder

  • momac

    I show resistance at around 1073, so bought short etf with a stop above there. I think we'll go down to around 1048. There's alot of crap coming due, If it's down again tomorrow, I don't think the run of up Mondays will happen next week. People aren't going to hold through another 2008/2009 scenario. but then I'm very biased to the down side. I read too much. :-)

  • newbear

    Congrats, same here. :)

  • http://www.aggressivelyuninformed.com nepharis
  • Mantaray1265

    Boy, oh boy, oh boy! What a day!

    Still holding 60% of my SKF and ESshorts. Doubt if there's even going to be ANY bounce, though… Stop orders will be triggered if and when <10k, I guess…

  • ClutchShorter

    Post your shorts

    SPY $109/$104 Put Spread
    SPY $100/$90 Put Spread
    SPY $110/$100 Put Spread
    DIA $105/$100 Put Spread
    DIA $100/$90 Put Spread
    IWM $60/$50 Put Spread
    IWM $65/$55 Put Spread
    USO $35 Puts
    GLD $100 Puts
    AA $12 Puts

  • 4everGrateful

    Here is the DOW weekly chart that I like to keep an eye on and is showing clearly…….GAME ON!
    http://www.screencast.com/users/Grateful4ever/f
    And I did indeed jizz in my pants when ES 1066 broke. And in case if you missed it, here you go!
    http://www.youtube.com/watch?v=VLnWf1sQkjY

  • n2thezonez

    I closed my put positions at the end of the day, just to catch my breath and see what the initial reaction to the jobs number is. Ideally, I'd like a good number they causes an early day rally only to fade sharply in the afternoon due to weekend fears and dollar strength.

  • HNO3

    Clutch, what month(s)?

  • goldman1

    I feel technology will correct down 25% this year…eventually…after a few good rallies and maybe by August it will be a buy once again. Commerical real estate and semiconductors is another place that might have a very good correction. Getting into the right leveraged etfs at the right time will give us some amazing opportunities.

    http://bit.ly/9vQeoK

  • momac

    How much lower do you think gold will go?

  • momac

    oh, and my shorts are very small positions but here they are, sh – twm – qid – crm puts – and some spy march calls to hedge just a tad. 2/3 short to 1/3 long, only about 25% invested

  • http://yovia.com/blogs/cumbucotrader/ hrtrader

    the forex market confirmed the bearish outlook for equities today, lots of breaches of important support/resistance levels:

    http://yovia.com/blogs/cumbucotrader/

  • n2thezonez

    I just purchased a t-shirt.

    Two Reasons:

    1. To show support for the website
    2. Because the logo is just tremendous

    Regarding the color discussions: I wouldn't want a red shirt, I don't wear red at all. However, a grey shirt or grey long sleeve shirt would be a must-have item. Also, a hoodie sweatshirt is always a great idea.

  • Scoops

    Those cwazy bankers. He must have been short and distracting himself from the temptation to dry some of his powder.

    http://news.bbc.co.uk/2/hi/asia-pacific/8494854

    http://www.youtube.com/watch?v=_KfPWHtyM4I

    Fucking classic.

  • tosmonkey

    Good blog.

    I like to look at market internals(buying vs. selling pressure) on an hourly time frame. The indicator I use is this one:

    http://bit.ly/axhMl7

  • centerline
  • vic_vega

    Or you could just buy plain old vanilla puts on qqqq and iyr (at the right time, of course.)

  • lilme

    OK Mate, this dirty rotten scoundrel will buy a t-shirt – but are they getting shipped from Europe? What gives? Euros? In German?

  • BigHouse(Aka Mr Vix)
  • BigHouse(Aka Mr Vix)
  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Nice! one way down from mole (1070's bounce if applicable is peanuts) 370+ posts on the clock, 109 on Mole's in little time… WHO LET THE RATS IN? I see a possible bear-shake to 1089, 1089 not 1090 RATS! DON'T PANICK and turn a retrace into a short cover rally, mole's 1072 is much more likely at this stage but be aware of an higher line in the sand.

    HAMSTER TIME!

    BPSPX below MA208, if history serves us right it should now go to lower BB's and SLIDE, 30's would be a nice landing (n.b. last time it was the summer 2007 drop, not october)

    SPX:GOLD scared me shitless during most of the day…. ended at a triple witching point MA13, MA104, MA208… 10% jump in the store… tomorrow or monday you'll confirm where to…

    SPX:CPCE MA6 once again pointing down and still some points to drop MA6 at 1424 means BOUNCE

    VIX:GOLD from .021 to .025… ma208 at .026 will be a bitch, but we need .028 to .030

    VIX nominal is at MA208, we need to take out 29.9 and then 38

    SPX:VIX a week ago I said “sub 40, 39 certain 35 likely” 40,76, and now the values are 40,6 and 37,1 (hamster bands move, keep that in mind)

    SLV:GOLD .013 seems in order

    GOOD ENOUGH RATS?

    Feedback is wellcome

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Mole, didn't we get that july/august 2007?

  • BigHouse(Aka Mr Vix)
  • ClutchShorter

    Who let the ASIAN BEARS OUT? WHO , WHO, WHO
    Who let the EUROPEAN BEARS OUT? WHO, WHO, WHO
    WHo let the AMERICAN BEARS OUT? WHO, WHO, WHO

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    second the motion

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    mais um tuga? ja passa da duzia….

  • TransworldDepravity

    I forgot to say great post today Mole. We almost finished at 1060 on the dot. I'll need to get that Tee, when my next meager pauper's paycheck arrives. And now some more mindless cranial fingerpainting. your favorite :-P

    Going to see the back doc today has elevated my quack voodoo senses and I bring forth another rendition of Combo Correlation Chartography (mental masturbation hyper-flux). Explanations are within the graphs. Essentially these patterns continue to support the bearish case for TA, fundamental, and social mood.

    If Paula Abdul could provide market analysis….what would she say?

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

    This is the 2/1/10 post that explains some of the detail behind the weaves.

    http://www.screencast.com/t/ZDdiZmU0Yj

    TDW has gone mad. Will return at 9 a.m.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    but no more gerbil jokes, revert to your true self

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    e-mail

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    reloaded some ERYs at 12.24 tuesday fully short since

  • roncofooddehydrator

    I know we're all feeling pretty good about today, but let's not get ahead of ourselves. Here are the last two major declines (starting in 2000 and 2007) in $SPX. The point where the 30 EMA crosses below the 200 EMA is circled.

    2000:
    http://content.screencast.com/users/jbreedlove/

    2007:
    http://content.screencast.com/users/jbreedlove/

    And here's where we are now:

    http://content.screencast.com/users/jbreedlove/

    The history of $SPX is littered with examples where it outpaced the 200 EMA and came back down to it, only to bounce back up and continue upwards. Not saying that I think that will happen this time, just to point out that we should be prepared and manage risk accordingly.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    $RUT oversold? not before 563

  • goldman1

    I did a study on the S&P versus Obama's disapproval rating. They seem to directly correlate. I also have a cool video of Obama's contradictory statements from one state of the union address to the next. Check out the link:

    http://bit.ly/cgrMvc

  • http://dreadwinaard.livejournal.com/profile dreadwin

    I'm still wrapping my head around all of these ratios. Regarding the SPX:GOLD ratio … Gold corrected more than SPX did today. So today was “bullish” for equities, if you view GOLD as a stable currency. Yes? I'm worried about that GLD:SLV ratio, as the last time it has gotten this high was the 1st week of July, and bears remember what happened after that…

  • http://dreadwinaard.livejournal.com/profile dreadwin

    I'm still wrapping my head around all of these ratios. Regarding the SPX:GOLD ratio … Gold corrected more than SPX did today. So today was “bullish” for equities, if you view GOLD as a stable currency. Yes? I'm worried about that GLD:SLV ratio, as the last time it has gotten this high was the 1st week of July, and bears remember what happened after that…

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    1012?

  • BigHouse(Aka Mr Vix)
  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    ( I could bet it would happen after my “who let the rats in?”)

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    I mentioned that it could be the summer of 2007 drop

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    gold “corrected” (was taken down to the cave by our good friends of PPT) earlier, but recovered just barely to neutral

    if i'm right tomorrow…

    http://www.youtube.com/watch?v=2RfQyR59oiM

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    you meant ma200, not ma50, i use ma208, 562

    but 482 is also in the books if it doesn't bounce from 562….

    nice short…. is there a N X ETF for $RUT?

  • http://evilspeculator.com molecool

    Thanks – but I don't bank any coin on those shirts – just FYI. If you want to support the blog show up more often and every once in a while click on a banner ;-)

  • vic_vega

    bearish 3x rut etf's: tza and twm
    bullish 3x rut: tna, uwm

  • http://evilspeculator.com molecool

    BTW, if you post the complete image path disqus will put an icon below your comment.

  • ClutchShorter

    Asian markets blood path : -2% to -3% across asian indices. Let's see if it follows through to Europe.

    HotOptionBear

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    BTW Boss, yesterday, to cheer you up, I revived a phrase that you have forgoten “SHARE THE LOVE”, care to explain to the others that hosting costs can be offset by some gentle clicks on your banners?

    p.s. already answered your post and posted my hamster time, it's 4 AM can i go to sleep?

  • http://dreadwinaard.livejournal.com/profile dreadwin

    I am talking about oversold in the context of a daily chart, not an extreme oversold condition leading to a reversal. I think there's a strong possibility of the fractal I highlighted playing out. The obvious bounce leading to a reversal would be at the 200 day ma, which is probably why it won't happen there.

  • http://trading-to-win.blogspot.com/ DavidDT

    one bearish day and comments are back :)
    new post at …

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    I'd say it's way past redemption ma208 looks a given

  • ClutchShorter

    Are these the only bears left on this blog? What happened to the bears from 2009 that were frequent visitors? I swear there were several that posted here quite often. I was getting raped last September/October but then I thought, who cares it's only money. I'll make it back and I'll have learned something.

    Persistence, Perserverence, Pussy…Oops I mean Patience.

  • http://evilspeculator.com molecool

    No, you had it right the first time.

  • http://evilspeculator.com molecool

    No sharing of the love – I don't want to get kicked off the bandwagon again ;-)

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Only hamsters and mad russians hang around here more often than not ;-)

    nice seeing you here, expecting follow through to 1047 as well… then a retrace to our 1090 cluster with option till 1150?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    No bears here, just us rats, give me a nice safe long and I'll take it

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    ok boss, you're the boss

    did you see my “don't panic” warning for tomorrow and my view for next steps that I shared with dave?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    ALL YOUR GOOGLES ARE, BELONG TO US

    http://www.washingtonpost.com/wp-dyn/content/ar

  • http://trading-to-win.blogspot.com/ DavidDT

    ha
    was just looking at 1080sh for possible bounce
    actually I think we will have 2-3 days bouncing around current levels in flat abc style move – if you watched video, I tried to talk about necessity to set lower low in order to bounce strongly and shake all shorts who thinks that this is just a 10% correction kind of thing

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Did I mention I blocked a spammer? the other one flagged looks reasonable, has a blog, has a lnk, but normal posts and doesn't misdirect

  • BigHouse(Aka Mr Vix)

    lol OK i fucked up….I guess teddy bear is a little excited here. Yea ma 200…

  • yudhisthira

    Not going to over-trade here. Not going to over-trade. Just in case a three of three shows up.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    wouldn't a straight drop to 1047 be more evil? no rips to short… THEN 1089, 1050's, 1100 (or more), 1090, 1150…

  • rg64

    I hear you

  • Hamster_gold

    So big news Friday [nonfarm payroll & unemployment rate]
    Dawn & Yawn?
    Dump & Lumps? Down & Brown?
    comments welcome.

  • Hamster_gold

    oh please!
    Google employess can read!
    http://www.nsa.gov/ia/guidance/security_configu

    it was insiders doing 'bad things'.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Gerbil, when you appeared here I noticed your “real name” behind the… “do gooder” or something…

    a different rodent

    a metal (also stainless)

    asked you to use it

    Please revert, this site needs a Gerbil and neither I nor raised will say any more razor sharp jokes

  • Sleepynaptime

    Gap down in the morning,
    Bulls take warning?

  • The Unknown Trader

    Even more evil would be a drop through the 1040s. Would really clear out weak holders.

  • http://www.portfoliotilt.com PortfolioTilt

    Saying goodbye http://bit.ly/byao6Y

  • marcT

    I miss 5% down days. That's what I would call blood bath.

  • tradejane

    Run and cover.

  • raised_by_wolves

    Borrowing “Hamster” for your name presents a problem because I call Stainless_Steel_Hamster “Hamster” for short. People call me “Raised” for short so you could call yourself Wolf_gold. I also like Leopard_gold. Another alternative would be Lynx_silver. Yet another alternative would be Stainless_Steel_Hipster. I would shy away from Stainless_Steel_Motherfucker though. With that name, you wouldn't get very far with the ladies. They'd think your a despicable or very unpleasant person or thing, which you're not, right? ;-)

    Actually, my favorite is a reverse of your former name: Golden_Gerbil.

    All this said, be your own king. As long as you remove “Hamster” from your name or pay SSH trademark royalties, do whatever you like.

    By the way, good luck tomorrow. Hopefully you won't need as much of it this time.

  • http://iberianviews.blogspot.com/ catracho

    well dow 10k will be psychological…support BUT gut feel is nobody will want to be long over weekend. Small down or relief rally today..gap down Monday?

  • gatopeich

    What about a Monday melt-up to do that small bounce within the big leg?

  • http://chartsandthat.blogspot.com/ ultra
  • minus273

    Cheers, some of our tees are shipped from Italy, the Evil ones are shipped from America.

  • tradejane

    LOL, yes, I like that one better. But as we all know the nastier a sell-off gets, the sharper the retrace can be…

    Btw, do you still have that chart that pointed to the DAX 5450 area? I had it saved but I can't find it anymore.

  • minus273

    I tried it in red in illustrator this morning, looks pretty cool actually. Mole, will send it to you tonight so u can see. Maybe we could print a few in M and L.

  • CorporalCarrot

    Strategy for today; if theres a big rally on this NFP number, sell it like a moroccan souk vendor. At least thats what I'm doing.

  • http://chartsandthat.blogspot.com/ ultra

    DAX is at lateral and 200DMA support – may yet get a rip to sell? Yeah, I know I'm dreaming at this point…

    http://screencast.com/t/M2E5MWIxZ

    30 min – http://screencast.com/t/ZjkyMzNmND

  • CorporalCarrot

    I wrote this two weeks ago, its still relevant IMO and I see no reason to edit any of it.

    “Chartalanche!
    Morning chaps. Been really busy the last few days so my posts have been sporadic, although with a similar theme. I was concerned that, if P3 ever did get started, people trying to trade bounces and capture every swing of the move would get burned. Because like the recent move in the dollar, a lot of technical analysis goes out the window as regards predictive value. I saw this with the dollars move from 1.51. All the way down, so many people were closing EURUSD shorts because they expected some pivot point to mean something, or they were expecting a certain degree EW or a key moving average or trendline to have some meaning. Lots of people missed out on huge portions of a move they correctly predicted, because they had been conditioned (burned) to expect the trend to continue forever, and the “inevitable” bounce.

    Thus I have observed with this move the last few days. I have perused tons of sites at the weekend. Lots of people who were bearish for months, covered after a couple of hundred points of a drop because they expected this was an ABC or a (i) of {ii} in X of y of C or something like that.

    And while sentiment still overwhelmingly remains relatively unworried about this, I am starting to see the first signs of regret in people who have covered too early and bulls who held on too long. I thought it was striking that Daneric said, “The market hasn't given anyone an obvious good short entry “. Now Daneric is actually one of the few bloggers who went out there on a limb before this happened and predicted that this was IT, so to say something like that is quite meaningful and representative of how a lot of people felt about this market. (no criticism intended, I love his site, and read it every day). Lots of sites are littered now with posts like, “I covered at 10,300, should I get back in here or do you think we will get a bounce back”.

    In fact, the market did give a great short entry. 10,700/1,150. As I posted on my previous momentum charts, there was clear demonstrable evidence that this market was seriously waning in momentum, and yet everyone was afraid to short.

    So what to do now? I personally think we are in no mans land here. Its not worth taking a position either way. That danger zone where frustrated shorts who missed the party are possibly worrying about missing a big move and are ready to chase this thing. The danger zone where bulls believe this might be the last buying opportunity of a lifetime.

    I already have short positions on with a small negative delta. I'm fortunate my longs behaved far better this week so I actually had my best week in a year (and got suitably pissed on Friday night). My dream of owning a Lamborghini just got that bit closer. I am kind of kicking myself for not being more short, but that’s life. I'm not going to chase this here, but neither am I going to cover prematurely. I need to see further breakdown here or a bounce to add to shorts. The danger for shorts who are not yet committed is that this is a colossal bear trap, and you jump in only to get hosed for the countertrend rally.

    And when we consider any moves of this nature over the last 9 months, the bounces have been fast and furious. Any pullback of any significance has been bought with fury and the ensuing rally (fuelled no doubt by short covering) has very quickly eclipsed the pullback.

    It will therefore be very interesting to observe what happens here. I was watching Dexter last night, Season 2 Episode 2. Dexter, like so many bears, is suffering from a crisis of confidence, and fails in a couple of attempts to kill some targets, but ultimately comes through at the end, by trying to think like his target.

    Thus should it be here. As a bear, I need to figure out what the bulls are thinking. And based on the last 9 months, bulls should be hoping for an extremely strong week here with a couple of 100+ dow point moves, no significant pullback of any size, with at least 75% of last weeks losses recovered, poised to capture new highs the following week. Ideally, I would love to see a bounce that is inititally very strong but fails to reach the old highs and shows significantly waning momentum even as it fails in the attempt. A stall around the Dow 10,400 level would be very significant IMO, as this was a point where I think a lot of people expected this down move to stop. Confirmation like that might represent the last safe shorting opportunity in this market.

    Once I have established my position, I'm going to sit back and relax and enjoy the show. If P3 does get underway, then heed my words that this is not going to be a market to “trade” because all the methods that essentially are predicting where certain oscilating patterns begin and end will go out the window and you will end up missing most of it (and possibly losing, despite being fundamentally right).”

  • CorporalCarrot

    MOLE: I ALSO MEANT TO SAY, WHEN I COLLECT MY LAMBO IN A COUPLE OF MONTHS TIME, i PROMISE TO WEAR MY ES T-SHIRT!!!

  • gatopeich

    As a low-stakes warrant gambler I don't know many trading tools…
    Maybe you mean getting more shorts?
    I have a high enter-exit cost and a moderate risk aversion, so I am likely to exit if I feel a rally is coming. Shall it happen, I guess I will have plenty of re-enter opportunity on Monday, while my market waits for the US to decide where to go next…
    Edit: and I want a fearless weekend!

  • http://chartsandthat.blogspot.com/ ultra

    You told me so? Yeah, I have been trying to fight it so far, because – even though I called the top within 5 pts back in November (not as cool as some like TK's 1152 napkin from whole year ago, but hey) – I still did not have the balls to go short at the top for all the reasons you just outlined. So I have been trying to make more counter-trend to sell more – being greedy, basically – what is it they say about hogs getting slaughtered?

    No more – selling rips from here on in.

  • CorporalCarrot

    Mate I'm not being smart, and nor do I know if this is P3 or not.

    But if it is, this is still relevant. I can't believe the number of people out there who already feel like they missed the boat!!! If this is P3, we have another several hundred SPX handles to go. Thats plenty of meat for a feast. This is possibly only the start!!

    I would just hate now to see people lose money by constantly trying to buy dips all the way down (the exact opposite of trying to be short all the way up). If you are going to get trades wrong (and you almost certainly will), its better to be positioned in the overall direction of the trend. I think for the short term at least, that trend is down, so getting caught with a long position is potentially very bad for your health.

  • gatopeich

    Thanks for sharing your thoughts.

    Regarding the possible “furious bounce”, I feel safer from that when trading against a badly injured market (Spain) where the bulls are already a bit in panick and the big money will think twice before entering. I believe :-) .

    Thinking like the bull/target (bullseye!), I think they could regain hopes on Monday, their 'charming day', with arguments such as “90% of Mondays are up-days”. Weekend over and a brand new week is probably all they need to regain the risk-mood. Mass media will help in that sense: Nothing to see here!

    Totally agree about the difficulty of trading in and out from now on…

  • fisheggs

    CC – Thanks for reposting that. I too did not pull the trigger at the 1150. Being raped again by the MM's aint my fetish. I'm glad I held out for a confirmation , but then again not !

    Oh how this market farks with your head!

    Heres to plenty of meat for everyone.

  • http://chartsandthat.blogspot.com/ ultra

    Having said all that, OA was pointing out the current NYMO divergence last night

    http://www.optionaddict.net/blog/2010/2/4/mind-

  • tradejane

    Lovely charts, thanks!

    There's some fairly good support here and if we do blow through that today there's all the more reason for me, personally, to be cautious. Everyone else's mileage may vary, of course.

  • CorporalCarrot

    Folks I'm seeing dow futures down 60 points here.

  • gatopeich

    I wish I could check those charts but screencast is not working on my browser…
    Where's that support, 5.400~5.450?

  • http://chartsandthat.blogspot.com/ ultra

    Cable. Been talking about a monster triangle this week. We have an under-throw and looking at this hourly chart, you could see a completed zig-zag (5-3-5) abc move down from the Jan 19 high for wave E of the triangle. As things stand, wave c is 1.618 times the length of wave a.

    Whatever, I'd say if this is going to play out, it needs to bottom today.

    http://screencast.com/t/MTVkN2Q3YzIt

  • gatopeich

    Uh-oh! more food for caution. Don't think I need any more today!

  • amokta

    Where is a good bounce when u need one!
    london down almost 100 2 days running!

  • bobthehorse

    My stance here is flat. Bias is to the downside but there is no risk-reward here ahead of the weekend. Euro has reached some pretty big intermediate targets and some stabilisation could bring equities up. Euro below 1.36 would mean we are into the next phase of the downturn but I would not get too excited about selling rallies today. Better to come in Monday and find a good level then.

  • gatopeich

    Hmmm… German Industrial Production came quite bad (-2.6% vs. +0.7% forecast) and markets accuse no effect whatsoever.

    Just driftin and bobbin… Not sure news will have an impact today.

  • http://chartsandthat.blogspot.com/ ultra

    Cheers, Bob – was wondering what your thoughts were here.

  • http://chartsandthat.blogspot.com/ ultra

    Yep, I know – and my reply wasn't meant to sound snarky either (although it probably did… apologies if so). My entry-spotting has been pretty good (see above), but then I am getting spooked and bailing out of positions too soon (or setting stops too tight) or holding them too long. Grrr.

    A little pissed off with myself for the way I've played is all – probably just too much caffeine this morning…

  • http://chartsandthat.blogspot.com/ ultra

    You have it on the button.

    Btw, apologies for the slow reply – I am seemingly not getting emails from disqus today… anyone else having problems?

  • http://evilspeculator.com molecool

    For the 1001th time: the news do not matter.

  • bobthehorse

    Been a bit busy today! Had a couple of small long trades, both stopped out.

    It obviously looks ugly but the point of maximum noise over sovereign default is often the point at which speculation of intervention comes through. Risk of a Friday squeeze in anticipation on some sort of EU resolution on Greece and Portugal over the weekend is quite high. Equally, it could just melt down. I am staying flat unless there is a material move from current levels.

  • bobthehorse

    I can assure you that news of Greece either defaulting or being bailed out over the weekend will matter.

  • PRSGuitars

    Cable multitimeframe…

    http://screencast.com/t/OTI4ZjIxNmUt

    Looks like death.

  • http://chartsandthat.blogspot.com/ ultra

    Here's some news that don't matter (but it's funny anyway).

    MP's and Lord's expenses scandal is bearing fruit over here – four arrest warrants issued today (hopefully first of many…)

    http://news.bbc.co.uk/2/hi/uk_news/politics/849

  • badgerone

    How about that DXY? Topping today around 80.5; isn't that some sort of pivot/resistance? Anyone watching the VIX? Maybe get around that 28 level again, a la Jan 22 (top of daily BB?) to find some resistance. Any thoughts?

  • fisheggs

    String em up !

  • http://evilspeculator.com molecool

    Okay – I'm on an iPhone and copy/paste doesn't work for some reason. Bot look at the year before that – during the downtrend – we kept seeing divergences as well. And yes there wasa litlle bounce but we always continued further down.

    That was Jeff's Achille's heel in 2008 – he remained bullish only all the way to 667.

  • http://evilspeculator.com molecool

    Please bring hot babes and a camera!

  • http://chartsandthat.blogspot.com/ ultra

    That was previously what I thought, but now I'm not so sure. My dollars will love you if you are right though.

  • matsou

    Seemed to work out well yesterday (jobs reports)…

  • bergs

    Anyone else having trouble with pulling up Prophet charts in TOS?

  • 9orchids

    I can't get prophet charts up, either

  • matsou

    i feel much like you! can't believe i enter and exit positions too soon every time. :p I will get like 50% of the possible profit, but will take the losses – in the end only to come out slightly on top. Have a tendency to do good analysis, but not follow through and trust myself. Does that make me a bear?

  • http://evilspeculator.com molecool

    Read my latest RL post.

  • http://evilspeculator.com molecool

    Correlation does not equal causation, mate.

  • http://evilspeculator.com molecool

    Okay – it's boring here – I'm going back to sleep.

  • Hamster_gold

    Actually, 23rd…definitely 23.

  • PRSGuitars

    NQ getting led down by its 20 sma. Bearish trending. Not good for equities as its outperforming and if it cant beat the 20 sma, nothing will. Very critical.

    My guess: rapid dip on 830 am econ data but bought up into open. Flat to down day, maybe up at points but i dont think we end above 1065 spx.

  • Schwerepunkt

    A few days ago someone said Prophet charts was bought by TDAmeritrade and would no longer be available — and they lost all their charts. But TOS is owned by TDAmeritrade too, you'd think TOS users could access Prophet?

  • bergs

    Yes TD did buy TOS. They still have the same platform. There was a glich this AM. The charts just now came back up.

  • JiangxiDad

    Great T-Shirt. But 19.99 Euros is a lot for this dollar based American. Think I'll wait for Greece and Portugal to slide into Med. and pick-it up a little cheaper:)

  • bergs

    Looking for minuette wave one to complete soon????

    http://screencast.com/t/OTMyMjhl

    Hey RBW, how do you attach a file in disqus?

  • ClutchShorter

    Correlation does not imply causation but it does not rule out the possibility that one event causes the other.

  • Schwerepunkt

    Bob: If the EU (Franco-Germans) bail out the Greeks, don't they also have to bailout the Spaniards, Porties, Italians and Irish? And if they do that, who is going to bailout the Franco-Germans? Certainly not the Brits, Swiss or Yanks. Maybe the Chinese Reds? If Dubai defaults, Abu Dhabi (perhaps with assistance from the other GGC countries) will bail them out, they believe in family values.

    My point is that a Greek bailout stanches the wound and stops the bleeding in the big toe, but the leg has to be amputated. Still, it may provide some temporary relief for the markets and produce a tradable rally/retrace. . . but when it peters out, the selling will be worse than before.

  • PRSGuitars

    Sure feels that way to me. The 6am crash and rally from 1050 es seems suspicious to me. NQ ready to break its 20 sma hourly and lead up (if that happens) — could flush lower at the announce but I also have the 'end of this little move' type feeling.

    Don't want to get made fun of by mole for being a bounce-caller, but EVEN THOUGH there are a ton of bearish things lining up, finally, I think we should be wary of a bounce. Sure would take a lot of power to stop the inertia already created, though.

  • http://trading-to-win.blogspot.com/ DavidDT

    Pre MArket /ES update http://screencast.com/t/NzE3Mzk4Z

  • Schwerepunkt

    Toyodasan only apologized. I guess Seppuku is no longer expected. How disappointing.

  • Hamster_gold

    Call me crazy, I'm looking for a capitulation type 2pm (EST) hour. and then volatile(!) sideways chop for days.
    but what do i know? I have no crystal ball.

  • bobthehorse

    The key is how the EU is going to be structured going forward. They need to have enforced fiscal rules. The EU as a whole will end up guaranteeing all sovereign debt of all members but there will need to be a much more effective policing of the fiscal limits. The problem is there is no mechanism right now and the mkt is forcing the EU to the point where it must act.

    So it will be a sort of partial bailout – they will get cheaper funding but will have to take very severe pain on the fiscal side and will have very severe recessions. That's what you get for over-borrowing.

  • Schwerepunkt

    How do they LOWER unemployment rate to 9.7%?

  • CorporalCarrot

    Because they adjust the participation rate; its a bonkers number.

  • gatopeich

    Well, they just can. The numbers are so rigged!
    Enjoy the ride!

  • n2thezonez

    -20,000 jobs, 9.7% unemployment

    Not a bad thing for the buck.

  • gatopeich

    Mr. Mole, I want to be the first to acknowledge your prediction that a 'good' employment number would cause some dip.
    Kudos!

  • Schwerepunkt

    But, as you say, they don't have a legal mechanism in place to bail them out. I suppose they could negotiate a bailout with the greeks then go to the EU machinery and say the fate of the civilized world requires a new facility.

  • lilme

    Perhaps the problem is on my side, but when I checkout, the info is in German language and price in euros with high shipping cost.

  • Schwerepunkt

    Dollar just fell down. ES spiked. All is well in the broken clock, it seems.

  • http://trading-to-win.blogspot.com/ DavidDT

    quickest 8 /es points I've ever (not really) made

  • gatopeich

    Ops! just reversed?

  • thelefteyeguy

    nice…markets giving another chance to pile on

  • ClutchShorter

    Rally then selloff

  • Hamster_gold

    bears taking profit. it's Friday! why risk it?

  • Schwerepunkt

    Did you scalp long?

  • Hamster_gold

    don't forget the seasonal adjustments, ooh, and the death rate models.

  • http://www.genxantihero.blogspot.com LostIllini

    Like a kid before Xmas…..

    Go Back to Sleep Mole, Santa will be here soon enough.

  • ClutchShorter

    I have a question on leveraged ETFS. Do you typically hold them for more than few days? I know since they are leveraged they are reset every day

  • gatopeich

    9.7%?

    Admit, didn't expect such a rigged figure. Everybody running in circles at CNBS I guess. BTW, the news reports come with the disclaimer about next March's more realistic figures (no news).

  • http://iberianviews.blogspot.com/ catracho

    yes that's why news doesn't matter..! Except when followed by the masses which helps you get a better entry or exit!

  • JiangxiDad

    Hey Schwerepunkt. Do you think there's a chance the Germans will get tired of the whole Euro thing and save themselves?

  • ClutchShorter

    Can we expect mutual fund Monday?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Portugal still dry, and the day we “slide into the med” we just crushed half of spain on our way there (we don't have mediteranean shore, just atlantic, for those in new york, just look across the pond and it' s us on the other side)

  • I_got_Prechterized

    they're best to hold only for a few days maximum. the way they're structured, they inherently have a volatility decay where the more volatility, the worse it becomes to hold them. That being said, holding over time would have returned doubles, triples, and even more in some of the long leveraged ETFs from the March rally until recently. But it's best if you just daytrade them or swing trade them

  • Schwerepunkt

    That is one extreme scenario, but unlikely. It would require a meltdown of the Euro to below par and a very messy unwinding of debt that threatens the very political stability of Europe. I don't see that happening, but it is possible.

  • BobbyLow

    I've been burned on these things before by holding them too long. One possible way around this is thinking in reverse. On the S&P, you might want to consider shorting SDS if you wanted to play the Long Side or Shorting SSO if you want to play the Short Side. This way shrinkage could possibly work in your favor. For myself, I've pretty much gone to just trading Options but everybody has their own comfort level.

  • ClutchShorter

    Thanks this was helpful

  • shortcover

    i have held them (both x2 long and x2 short, x3 short) for long periods of time – ie over a year – but write covered calls on them to collect premiums. this way as the adjustment factor of the daily change erodes the value you get a fair shot at profits and to maintain a hedge against any shorts or longs you may have in the underlying index (if you are doing a pair trade). it works for me, but may not for everybody.

  • tradejane

    Who needs Mutual Fund Monday when you have short squeeze Friday. ;)

  • Hamster_gold

    i took a tour of Portugal via Google maps.
    Unfortunately, only a few large cities are mapped.
    ;-)

  • http://trading-to-win.blogspot.com/ DavidDT

    short answer – YES
    (Long version – if you saw the video posted at 8:15AP EST and got through my accent – you would not ask :)

  • JiangxiDad

    Tks. For historical reasons, I would guess the Germans have stronger feelings about this whole economic fiasco than others. After all, Weimar is a city in Germany.

  • Hamster_gold

    I'm tired of being shaved.
    ;-)
    in fact , i actually made money after changing my identity.
    I will take it into consideration.
    :-D

  • Schwerepunkt

    I missed the video. Good call. Now what are you seeing and doing?

  • http://trading-to-win.blogspot.com/ DavidDT

    these fuckers changed format of labor report!!!!!!!!!!!!!!!!!!!!!!!
    http://www.bls.gov/news.release/empsit.t12.htm

  • tradejane

    Hanging around youse ES traders has proved extremely corruptive. I might never go back to equities… :D

  • ClutchShorter

    Dow rallies 120 points, SPX rallies 20 points, Then selloff at around 11-12. Beautiful time to add shorts, puts, etc… This is one last fight for the bulls

  • NorbertTO

    Any thoughts on the VIX? Looks like support at the 100 mavg 22.76. Thanks for your help

  • http://trading-to-win.blogspot.com/ DavidDT
  • gatopeich

    Interesting, IBEX bounced just enough to almost-touch yesterday's close, just to turn on a dime losing ~100 pts to where it was before.

  • centerline

    This just gets funnier each day. Full blown tap dance going on now. Next we need a healthy dose of distraction. Ha, ha, ha. This is going to get uglier and uglier soon. WAAAYYYY to many plates spinning in the air right now.

  • centerline

    Thinking the same thing – except that I am not sure this piggie has 20 SPX points to give today. Probably Monday though as the futures get dry-humped into positive territory! ha, ha. Then – kaboom.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    zi akcent! ;-)

    good stuff

  • bevets

    Was watching ES on 15 min and saw a quick stick save(hockey metaphor) by the bulls but but looks like the bears have the puck again now.

  • Schwerepunkt

    Don't get religious on us. And it's okay to spell the whole name, this isn't a Monty Python skit.

    “All I said to my wife was that piece of halibut was good enough for Jehova! ;-)

    http://www.youtube.com/watch?v=R_hlMK7tCks

  • gatopeich

    Just like there is a chance their job-maintaining policies run out of money. Did you know German government is co-paying (reduced) wages for people whose companies would (have to) fire otherwise?

  • Schwerepunkt

    I think the Europeans can read our economic reports better than we can. They see through the statistical gymnastics.

  • gmak

    Good morning. I see a lot of traders are still in the weather forecasting game, here. This reminds me of every dip in the SPX since March. Jubilation, exhaltation, followed by depression and despair when SPX doesn't head straight down – and even rallies.

    Don't get ahead of yourselves. Play the market in front of you, not the one in your mind.

    Cheers

  • gmak

    Just another example of deflation. Same employed for less cost.

    It actually makes sense to me, on the humanity scale – as well as being inevitable everywhere through the credit contraction.

  • PRSGuitars

    Heads up TOS users — because of a data issue with the active trader they have switched to a backup data feed.

    For whatever reason my level 2 on the active trader ladder is showing 10 levels of bid and ask (twice as many as usual). GO FORTH AND MARKET READ, MY CHILDREN!

    Who knows how long we have super-vision in the market (haha, sort of) — but let's enjoy it. Let me know what you think… I've been hoping for a larger L2 display for a while…too bad this is just temporary.

  • ClutchShorter

    http://www.associatedcontent.com/article/266970

    Breaking INFO on unemployment ONLY FOR EVIL SPECULATORS

  • gatopeich

    Morning US, been waiting for ya!

  • minus273

    From Zero hedge:
    A number that avoids some of the constant fudging by the BLS, the Non-Seasonally Adjusted number, hit a new recent record: instead of 9.7%, this number was 10.6%, a 0.9% increase from December!

    The same can be seen in the U-6 data. NSA U-6 is now at a record 18%, even as the seasonally adjusted number declined to 16.5%.

  • TransworldDepravity

    Hehe. yes. Here is a finviz representation.
    http://www.innerpowerintl.com/images/stages-cir

  • gatopeich

    You're right bro'.
    But I feel distressed without the company of ZTS during the euro-morning, feels like in Saigon waiting for orders, so alone…
    http://www.youtube.com/v/4ADTPYAEi80

  • PRSGuitars

    SPY hitting lower 133:

    http://screencast.com/t/YzZhYWUxND

  • http://trading-to-win.blogspot.com/ DavidDT

    $SPX chart of charts…D-Wave Daily http://screencast.com/t/NzY3MmZm $$

  • WTFed

    Boing! Right off Mole's bounce point.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    1326 with a sub 1200 gold … it might be “desirable”

    we'll see

  • http://trading-to-win.blogspot.com/ DavidDT
  • http://trading-to-win.blogspot.com/ DavidDT

    day aint over – at one POINT of time – all prices go and bounce from some POINT

  • http://trading-to-win.blogspot.com/ DavidDT

    scary shitm huh?

  • gmak

    Daily SPX has gone down to test the trend line “Since Oct 2nd”. Who knew it would happen so quickly? The dashed red line below that trend line shows the line in the sand for TD support over the long term. And this line goes back a long, long way. The 1086 (SPX) line has now become overhead resistance.

    Next BIG level of support is way down at the 62% FIB (1557 hi, 666 low) at 1014.
    Enjoy.

    http://screencast.com/t/NTljNzM2Mm

  • gmak

    Meanwhile, the EUR is having a heck of a time gettin below that support around the S1 pivot at 1.3663; This is a key battleground, and the lower Bollinger (21,2) is also sitting there. Just below is a TD support line at 1.3659

    And here goes the EUR for another downward test of that support, as I type.

  • Schwerepunkt

    Euro dropped through the support.

  • raised_by_wolves

    The pink 133 channel line is my closest support:

    http://content.screencast.com/users/raised_by_w

  • vic_vega

    Whats with xlf and iyr? Have they drawn a line in the sand and decided to just support themselves?

  • http://it'sasecret hindyomen

    too choppy to trade
    flat

  • PRSGuitars

    SERIOUSLY

  • Nightwind

    next spx support at 1028

  • gatopeich

    Go tell me, I did some attempt this morning. Still itchin!

  • http://trading-to-win.blogspot.com/ DavidDT
  • aussiebinlaughin

    Luckily Im single these days and dont have to lie when asked if days like this were as good or better than the day/s my kids were born. I would struggle to lie and keep the smug bear look on my face. Being a semi noob (1.5 years trading) I need to saviour days like today and yesterday.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    well, if i did'nt have that as a possible outcome it would be worse, trading is fear… fear all the time, should I bank some coin? should I let it ride, should I take a loss… isn't it the fun of trading?

    BTW, 1047, 1050's or 1005?

  • randomwalker

    Guten tag!

    Chart of primary trend on SPY per Pring KST:

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

    Same on FXI looking tepid:

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

  • bobthehorse

    Just bought a scrap for a long trade into the european close

  • gmak

    My bank account agrees. Now I'm just waiting for a re-test of the pivot and maybe the mid Bollinger before going short again. (or long DXY – depends).

  • aussiebinlaughin

    Some major support broken on £/$ today too.

  • PRSGuitars

    That spy 133 line… looking like it might hold… jeez.

    http://screencast.com/t/YzZhYWUxND

  • gmak

    I'm still wondering about why the fear trade isn't running to gold. I mentioned before, and I still suspect that it is among the first to be dumped on speculative margin calls. Please, gold bugs, I respect your right to play with shiny things.

  • goldman1

    Price target 1046 SPX http://bit.ly/a7C29v

  • http://trading-to-win.blogspot.com/ DavidDT

    could that be because Prechter is correct by saying that this is deflationary trade?

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    so if we drop “too much” you'd cover

  • rosocecasita

    There is more then meets the eye when it comes to Gold.

    Gold is DANGEROUSLY close to Backwardation.

    When that happens, it ALL goes boom!

    Better to crash Gold & the market, then have gold shoot a big load all over

  • http://trading-to-win.blogspot.com/ DavidDT

    if lower close today – I ma cashing out my shorts (whatever left of those – did some idiotic move yesterday – covered WAY too early in trading account, thou still holing core positions)

  • bobthehorse

    Be careful with Gold. There is a chase for yield going on at the moment and Gold only has storage costs.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    that's why I'm yelling like a crazy hamster since “god” started shorting gold to kingdom come… they can currently go for dave's spx1326 without making a new high on gold… evil

  • gmak

    EUR mid bollinger on 3 min chart hit. Time to try a EUR short again. I see price exhaustion overhead at 1.3686 and TD resistance just above that around 1.3690. It looks like TD Pressure is close to max, so should head down soon.

    Against the trade: Ichimoku is starting to make some mild bullish noises. MACD has not turned south yet, but the gap is narrowing.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    let's see how 1066 holds now…

  • gatopeich

    Evil-thanks!
    Tight spot, I am one hair away from cashing out.

  • http://it'sasecret hindyomen

    sold ES1062.5, stop at 1063.25

  • gatopeich

    I lied, can't get out now!

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    might, the jury is out on that one

  • gmak

    EUR 3 min chart just made another bullish noise. The Ichimoku conversion line moved above the base line (a bullish cross). But that mid Bollinger is still holding sway and dominance (for now). I'm still holding to my stops around the TD resistance level at 1.3689.

    I'm watching how the cloud overhead has flipped from bullish to bearish trend (the two lines cross and inverted) and this gives me some small comfort that maybe the base /conversion bullish cross is a weak one. I'm also watching TD Pressure which continues to fall. Still in that EUR short for now.

  • gmak

    A quick obs on SPX. It has run into TD resistance at 1064.73 on the 5 min chart. All TA I'm looking at is bearish, except MACD – but even there the gap is narrowing and headed for the zero line.

    9 and 34 pMA are trying to do the bullish cross. SO is Ichimoku base / conversion – but neither of them are there yet (so close).

    Ichimoku cloud is still bearish but narrow.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    why? why? why do I see 1041 and then 1091?

  • gmak

    Coming into the EUrope close. Have a great weekend Bob!

    Guess we'll see the EUR fixing now, and then NY vol on SPX should taper off, no?

  • rosocecasita

    The more they drop it, the more I'll be able to purchase when I cash out the 401k.

  • bobthehorse

    i bought some estoxx at 2644, looked like it may have made a double bottom intra-day. volumes are HUGE on the future today, haven't seen a day like this for some time and has actually been pretty stable since this morning. could still go either way but i wouldn't want to be short over the weekend and suspect we will see some squaring off post 4.30 uk time.

  • gatopeich

    Have a great weekend you too! I cashed out for the peace of mind. Three zero-warnings and only 30 min left were enough. The last cent for the bank!

  • http://evilspeculator.com molecool

    Hi gmak – taking the morning off?

  • PRSGuitars

    I've noticed you're great at those top of range fades… very well done Hindy. Been watching you for a while now.

  • gmak

    Closed my EUR short as there are just too many bullish crosses showing up on too many charts. Banked some small coin. Looking at a TD momentum indicator that keeps flashing on and off. If it stays on, then 1.3686 is the target

  • roncofooddehydrator

    Just because we're here again and I didn't see anyone mention it, at 10:30 rammstein said buy at 1059.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    even broken clocks wind down…

  • http://it'sasecret hindyomen

    thanks!

    off at 1057.75

  • gmak

    Well, that momentum up indicator did not stay on. I'm out, and fighting the impulse to make that big trader's mistake and rush in the other way. The trend is down, so I'll sit back a while and see how all those bullish crosses develop.

    The Ichimoku cloud on the EUR 3 min chart is low enough as to almost touch the pivot. Even if EUR moves sideways, it will be in the cloud (neutral) in about 10 – 15 minutes.

    TD pressure is getting up to overbought condition. I wonder if the mid-bollinger will act as a roof or slingshot this time. The base /conversion gap is bullish but flat and not widening. There is a TD resistance level now at around 1.3676.

    I think I'll let EUR go up a bit and get a sense of what is going on in the market before putting on another trade.

  • aussiebinlaughin

    Any thoughts on the £/$,? Doesnt look like much stopping a fall to 1.54 ish on the charts to me.

  • gmak

    Nope. I keep it simple. EUR, DXY, and sometimes CAD. that is where I have the most success in FX. I know that there were a few Cable traders over at Market Ticker a while back, who seemed quite knowledgeable about the TA on that FX trade.

    Sorry.

  • PRSGuitars

    Cable multitimeframe…

    http://screencast.com/t/OTI4ZjIxNmUt

    Looks like death.

  • gmak

    I have the day off. I commented yesterday that I wouldn't be posting today. I've been trading some FX this AM – just for giggles and in a small way.

    Looks like almost time to go back short the EUR. Cheers. MOODCBAA coming soon to email.

  • gsavli

    it appears to be some sort of mini capitulation.

  • bananaben

    Ahhhh – very nice move just now. They way they are still able to gun IYR still has me worried though.

  • Schwerepunkt

    CAD is relatively strong today.

  • BigHouse(Aka Mr Vix)

    Well i was able to short UYG this morning. I will keep this until it gets to $1.00… When ever that happens..

  • Schwerepunkt

    Teetering.

  • BigHouse(Aka Mr Vix)

    Market is slowely going lower ..My kind of market..Oil taking it in the ass

  • randomwalker

    Might have something to do with EUO being seriusly overbought? Too bad there's no CAD equivalence

  • gmak

    Just went long the EUR off of the pivot at 1.3603 =- looks like 1.36 is strong support. I'll use that as a stop-loss.

  • gmak

    Some short term EUR TD resistance at 1.3620; If we get past it, the nest is at 1.3642;

    The Ichimoku base /conversion cross seems to be a good signal for 3 bars later on the 3 min chart. i.e. when it crosses, wait 10 minutes and then put the trade on.

  • gmak

    Someone should bitch-slap DIsqus and tell them that real-time updating needs to be the default. Also, what is with the lack of emails for replies, lately?

  • LogansRun

    These DOW 10,000 hats and coffee mugs are great! http://www.zazzle.com/erico_davis

    I'll see if I can find some DOW 6500 mugs!

  • Shiftlemac

    Hi from a lurker, but am I right in thinking the SPX:VIX has breached its 200MA today? I seem to recall that was one from Raised_by_Wolves?

  • http://evilspeculator.com molecool

    Well – once 'the jury is in' it's too late to trade the setup :-)

  • gmak

    If 1.3620 holds again, on EUR, it sure looks like a bearish flag forming between that point and the pivot at 1.3603. Might be time to close out this latest trade. I guess I read the support as more of a trampoline than just support. Still long EUR, but waiting to see what the lower bollinger does with EUR (we are back above it).

    Will pivot win, or will TD momentum win? Putting in that (bearish) flag on the pivot. Gulp.

    Here comes the trader's wishful thinking: MACD Is about to cross bullish. TD Pressure put in a low risk buy with stop around 1.3595. Lower bollinger and pivot are support.

    Against that: The entire market sentiment, and a short term TD resistance point overhead. Am I trying to tell the market what to do? Or do I have a legitimate trade. The loneliness of the short distance trader.

  • gmak

    Apparently there are barrier options at EUR = 1.35 – but on the longer term chart, support only appears around 1.3410. Wow!

  • jehhyun

    easy target.. oil's already lubed up..

  • gmak

    Coming back up to test EUR = 1.3620 resistance. If we don't get through, I'll close the trade for wine money.

    The base conversion gap for Ichimoku is widening – so that could be bearish (I'm beginning to think that only the cross matters and the rest is just noise for that pair.
    MACD has crossed bullish, and TD Pressure is going up. – but zig zagging shallowly. Let's see if the reindeer are playing today. heh.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    USO at possible but unlikely bounce point, 33 and 28 to watch for

  • gmak

    I've been writing more comments than usual – I have the time today – but also to provide some insight to how I think when I'm doing a trade. Hopefully this helps everyone realize that doubts abound, and that there is nothing certain.

    EUR is testing 1.3620 If this 3 min bar closes above, I'll let it run. If not, I'll close the trade – and if EUR continues to pop up, them's the breaks and I'll take the profit in cash, thank, not paper.

  • gmak

    TD shows short term support at 1.3619, now. Guess the bid is in and the trade can move. I'll move my stop up to just under that. (EUR)

  • gmak

    Well, I closed the position by mistake – put a limit trade instead of a stop (too many distractions). This was a nice easy trading day in FX. I think that it's time to go for a skate and leave my profits in the bank.

    Cheers. Have a great weekend!

  • http://iberianviews.blogspot.com/ catracho

    very short term looks overdone..but wouldn't buy it..any decent bounce should be a sell opp, but remember cable is a wild animal!! A bounce could go further than one thinks (and vice versa)…medium term looking for 1.51 previous resistance in Apr 09 and support in MAY 09

  • PRSGuitars

    Enjoy it gmak! good discipline to walk away some days. Take it easy and relax…

  • BigHouse(Aka Mr Vix)

    Boy this market is dead in the water…Hope this makes a move soon.

  • Hamster_gold

    Spartaaaaa!!!!!

    This is Madness!, where is our comment cleaners!!!

  • BigHouse(Aka Mr Vix)

    Shorting UYG now will be a great stocking stuffer come December..

  • Hamster_gold

    2 more hours. *nia
    bears got to squeeeze every drop of blood out this week. ;-)

  • Hamster_gold

    Listen up mole, Evil Mugs!!! maybe Evil shotglasses.
    now that, I could drink to.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    No more cleaners until there is a gerbil

  • I_got_Prechterized

    lightening up some shorts here- just went long double gold and silver

  • Hamster_gold

    I refuse to be thrown in a black hole like those Syrians of the 300 movie.
    :-D

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Inflation vs deflation? yes, that's the problem. The problem i see with deflation is simple, you can fire half the workers, but without inflation you'll have to fire all old contracts to adjust wages

  • Schwerepunkt

    Persians.

  • http://sshamster.blogspot.com/ Anonymous

    glad you’re making money, but it’s not the hamster that gives luck

  • tradejane

    >just went long double gold and silver

    You've been reading my mind, I see. ;)

  • goldman1

    I believe we might have hit the retracement. The retracement was at 1046 and got down to 1054. Close enough?

    http://bit.ly/dobFJF

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    RAISED! would you kindly bitch-slap Disqus to submission? And while you're at it… I want the CEO's stamp painting as a souvenir

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    and then you chose a syrian hamster as your avatar? smart move!

    p.s. they were iranians, persians, not syrians

  • Schwerepunkt

    It's gotta suck when the stock market drops if you appear on television. I'd hate to be president.

  • Persian_Hamster

    :-D

  • HNO3

    Day trade or swing into Monday?

  • Persian_Hamster

    does anyone listen to MOle?

    “Correlation does not equal causation, mate.”
    ;-D

  • End_of_Rainbow

    Actually better plan when 666 level is broken on 12th December is:

    To join our friends to ride dolphins from Corona Del Mar for hours and hours to search the end of a rainbow then bribe leprechaun with Wrigley’s chewing gum and Viagra to access Davy Jones locker to get his socks and put them on our ears to listen to the Clarabelle the clinking clanking cow’s cowbell to incorporate it in Catena Concertos in D minor to play at Vienna Philharmonic to gain fame and popularity so Dalai Lama and pope themselves shall ask King of Sweden to give us Royal Order of the Seraphim.

  • Persian_Gerb

    I think we have a new commentator – hey CD, you readin this “creativity”?

  • Schwerepunkt

    Trichet denies any emergency meeting scheduled for this weekend. Of course, he's in Nunavut for the G7. Maybe no rescue plan for the Greeks this weekend at least.

  • labdude

    Can I have what he is smoking? Can't hurt my trading anymore than it is.

    Is he smoking raisedbywolves nutmeg?

    I want some (money and sex too).

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    are you ok? did you take candies from raised?

  • raised_by_wolves

    What's this about bitch-slapping DISQUS? Has she been misbehaving any more than usual?

    I seriously think we need to find a programmer who knows Erlang. There's already a Twitter clone written in Erlang. Now we need to create a DISQUS clone written in Erlang.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    dude, raised doesn't smoke nutmeg, he eats it, and I think he just gave this new guy some of his lsd

  • labdude

    I have to get back to work–dang it. I'd like to stay–this would be an interesting lab experiment in itself–lolol.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    “real time updating” DEFAULT SHOULD BE ON

    you know the drill, first you beat him, then you stamp his face, then you drug him… the rest I prefer not to sugest

  • bananaben

    I'm 100% short now with all positions well in the green. Holding over the weekend and praying that we go over the waterfall next week. If there's a rally on Monday, I'm counting on it getting sold. Bon Voyage!!

  • Persian_Gerb

    gutsy.
    i like that.

    prayer is a finicky technical indicator.

  • centerline

    oops – market slipped on banana peel. lol.

  • bananaben

    We're on the edge of the abyss right now – I can feel it. Can't wait to take the plunge. It will be the best feeling in the world after what I have been through.

  • BigHouse(Aka Mr Vix)

    UYG below $5 lol….. I haven't seen that for quite a long time…

  • I_got_Prechterized

    wow, we're already at 1050. that was fast.

  • bubble jeopardy

    You think the 18 or whatever it is straight “random” up Mondays are over?

  • raised_by_wolves

    I don't know about him, but I'm okay. Better than okay. I've been rockin' the swing trades.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    since reloading to 100% short on tuesday… just holding

  • goldman1

    Hot chicks playing football http://bit.ly/dwBFZ6

  • Persian_Gerb

    sweet. I stole Hammie's crystal ball, next hour is the final hour.
    (capitulation).
    MuWahahaha.

  • bananaben

    GMAK retired a little too early – missing all the fun!!!!!!!!!! WEEEEEEEEE!

  • BigHouse(Aka Mr Vix)

    Its getting ugly out there lol. Teddy bear is rolling in honey….

  • centerline

    EDIT – market slipped on flaming bag of poo.

  • bananaben

    I'll take my chances. Just like Mole's post about Dr. Pavlovs experiments. Bears are trained now to get out before Monday morning. That's why I think the big one will come on a Monday.

  • BigHouse(Aka Mr Vix)

    If anyone cares the dow is down 138…..tell your friends lol

  • bobthehorse

    how can you feel an abyss?

  • Persian_Gerb

    agreed.
    it's great to live in exciting times!!!

  • BigHouse(Aka Mr Vix)

    XLF coming down to the 200 MA.Lets see what happens…

  • centerline

    Lost a few more synapses trying to watch that one (think they committed suicide). Had to stop.

  • http://it'sasecret hindyomen

    LONG ES1042

  • aussiebinlaughin

    That all depends on your personal image of the 'abyss'. I like to think of me sitting on a big paper bull with a bath tub of cash beneath me.

  • rosocecasita

    The air rushing past

  • n2thezonez

    I tend to agree with you, however I don't care for playing the “due” factor. Most likely I'll close positions today and see how the wind is blowing on Monday.

  • bananaben

    I think you know what I mean Bob. Sometimes you should go with gut instinct instead of lines and squiggles. Not saying I won't get creamed on Monday – I'm well aware of the dangers. Hope that we ride this sucker into the ground together.

  • I_got_Prechterized

    wow!!! what a week. I'm staying partly short hedging with gold and silver long. Gold seems to have stabilized. It bounced right off of 1045 or so where India made a $7bill purchase several months ago. It should be good for a bounce and then the march back under 1000.

  • Schwerepunkt

    Stop?

  • ClutchShorter

    Gentleman, I think it's falling apart. It's time to add to your shorts.

  • omelette

    collaborate and listen

  • shortcover

    rolling out some FAZ covered calls from March to April against my position. should have kept VXX 1 more day…

  • vic_vega

    I was thinking the same thing picked up a 200 iwm way otm puts for .04.

  • BigHouse(Aka Mr Vix)
  • Schwerepunkt

    Eur sitting on S1 at 1.3586. If that breaks, watch out could be a big bad trend day down.

  • raised_by_wolves

    Now that I've closed some positions, I'm 5% short and 95% cash. I almost tripled my account the last few days trading SLV put options. I wasn't good enough not to use up my 3 day trades for the week though. I don't even think I can open a trade until Monday. Dammit!

  • rosocecasita

    Has anyone heard ANY Updates to the 401k shit the treasury is pulling?

    http://www.zerohedge.com/article/treasury-solic

    I need to know where to find out IF they passed this, I'm cashing my 401k out if they do.

  • PRSGuitars

    JNK breakdown of major proportions:

    http://screencast.com/t/NWZhMTBl

  • TransworldDepravity

    Busy today at the officeplex, but still munch on another successful AAPL short. Did you see USO get killed. I wish I would have taken your SLV short. One of the best trades this week for sure.

  • http://it'sasecret hindyomen

    close at 1044.25

    was eyeballing it
    all my indicators said we would not exceed that panic low by much.

    still quite confident about a reversal from this level
    or at least, we don't close below the current LOD

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    closed some too, 70% short 30% cash… sorry about the trade limits

  • Sleepynaptime

    Nice job. Are the 3 trades an account limit or a personal limit?

  • Schwerepunkt

    I'll bet you were a little nervous on that quick drop down to 1040.75! Turned out well for you, but the stress/reward ratio on that trade must have been a bit high. ;-L I'm considering a long before the close too. Those bottoms happen quickly though. Hard to catch.

  • PRSGuitars

    HOLY SHIT 133 time, /es

    http://screencast.com/t/ZTIwODJi

  • raised_by_wolves

    It's an account limit in accordance with the SEC <$25K rules.

    My preferred personal limit is even less – zero – because when my stops don't get taken out, I don't use any day trades.

  • goldman1

    1046 is the key level in the S&P. If it cant hold, then we will probably get to the 900s. Just my personal subjective opinion.;)

    http://bit.ly/b5Y91U

  • http://it'sasecret hindyomen

    EXACTLY

  • http://it'sasecret hindyomen

    yea, that nerve racking. hence i took it off for a smaller profit.

    nevertheless, 1040 is a good short term bottom as any

  • I_got_Prechterized

    I'm down to just 15% short. Don't want to be a pig here. Hopefully, we'll get a mutual fund Monday and I can revisit some shorts.

  • http://evilspeculator.com molecool

    Per popular request….

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

  • raised_by_wolves

    The One True Hamster:

    Instead of having a chemically-induced tantrum, I need to put things in perspective. Although I'll miss a potential gap down on Monday, I can go short at the bell if I'm so inclined. Also, I'll miss a potential gap up :-)

    Further, I need time to figure things out again. GLD is trying to close above my honeydew trend line if not positive by EOD.

    http://content.screencast.com/users/raised_by_w

    http://content.screencast.com/users/raised_by_w

    Will this retest of honeydew be a success or a failure? My intuition says that this will have huge implications not only for GLD but also for everything else in the short term. I'll update you if/when I figure things out.

    Feel free to post a GLD chart of your own to show me that channel of yours.

  • Anonymous

    Thanks :-)

  • http://sshamster.blogspot.com/ Anonymous

    always a helping hamster around ;-)

  • raised_by_wolves

    TD, let's get rich enough to go on a perpetual poor-man's adventure.

  • TransworldDepravity

    agreed comrade.

    In reply to your post on friday eve….

    instead of being alone in a group, it's better to have real solitude all by yourself.

  • raised_by_wolves

    In a group, I have almost always felt like an observer, not usually like a participant, and, when like a participant, like an actor, not like the real me, whoever that is.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    you're never outside, just on 3rd class places, and whatever confused being you're “playing” that'syou

  • raised_by_wolves

    TD, let's get rich enough to go on a perpetual poor-man's adventure.

  • TransworldDepravity

    agreed comrade.

    In reply to your post on friday eve….

    instead of being alone in a group, it's better to have real solitude all by yourself.

  • raised_by_wolves

    In a group, I have almost always felt like an observer, not usually like a participant, and, when like a participant, like an actor, not like the real me, whoever that is.

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    you're never outside, just on 3rd class places, and whatever confused being you're “playing” that'syou





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