Market Tremors

We now find ourselves at important inflection across the board. As the spoos are currently swinging lower (earthquakes – get it – uuuhh – never mind) for a VWAP retest it’s time to look at support levels and where to expect acceleration in either direction:

The 1114 mark should be thought as the bull’s Maginot line – if the grizzly panzer brigade manages to push below it’s lights out and August is going to close below 1100. I currently do not sense that the bears have the resources to close the deal – maybe their supply lines in the Ardennes have been compromised. But sentiment is swinging wildly these days (with or without earthquakes – get it – uuuh, never mind) and instead of guessing the tape we rather stick with our charts – in the end price is the ultimate judge and it is never wrong.

The longs have 1190 in their sight and whether or not we get there depends on holding an important short term support line right here and now:

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GETTING REPORTS OF A 6.0 EARTHQUAKE IN VIRGINIA – SUPPOSEDLY WAS FELT IN MANHATTAN - EXPECT VOLATILITY IN THE TAPE.

Just so happens that one of my genetically engineered graboids made it out of the evil compound the other day. I wonder… better make a call to Burt Gummer.

Keep it frosty and stick with your charts ;-)

Cheers,

Mole

This entry was posted on Tuesday, August 23rd, 2011 at 2:13 pm. Both comments and pings are currently closed.



  • http://evilspeculator.com molecool

    FYI – NYMEX has been halted on earthquake tremors – building evacuated.

  • http://practicalt.blogspot.com/ Gold_Gerb

    Must be the frackin natural gas stuff they’ve been complaining about.

    http://www.foxnews.com/scitech/2011/03/01/fracking-earthquakes-arkansas-man-experts-warn/

  • Anonymous

    wow, sound serious. But common… only 5.9.

  • Anonymous

    Ha, i was forcefully evacuated too (I work in DC). I was like, cmon guys I cant leave my charts behind! 

  • Anonymous

    AMZN up 8% today as investors realize people will have more time to read in the new recession.

  • Anonymous

    AMZN up 8% today as investors realize people will have more time to read in the new recession.

  • http://practicalt.blogspot.com/ Gold_Gerb

    P & G maker of charmin down.

    investors realize books & fiat can double as toilet paper.

  • http://practicalt.blogspot.com/ Gold_Gerb

    P & G maker of charmin down.

    investors realize books & fiat can double as toilet paper.

  • http://evilspeculator.com molecool

    Alright, NYMEX has NOT been evacuated after all. Lesson learned: Take anything you read on ZH with a grain of salt.

  • bshah

    what do you all think on Gold ? … could go down another 20 ?

  • tradingmom

    Could go down another 220.

  • Fearless

    Could go down to 1350

  • Anonymous

    perhaps ZL 5min is telling us not many real peeps want to join the bot sponsored party

  • http://evilspeculator.com molecool

    Does anyone remember my tweet yesterday? Well, I won’t bathe in glory as my previous attempt of shorting gold (I think two weeks ago) was stopped out.

  • Anonymous

    everyone was looking for $2000 gold, so it wouldn’t surprise me to see it top at $1900.

    In the spring, everyone was looking for 120 crude, and it peaked around 116

    so, gold could crash as fast as silver did, I suppose

  • bshah

    sorry sir… i was absent y’day..  lot of work…just got into little early and so holding GLD Sep 176 puts… under $100 only right now.. but wondering to cut the lose or hold it for few days to make something..

  • Anonymous

    no man look for gold to hit 200 day ma at least assuming this is going down. lately things have been swinging around too much.

  • tradingmom

    Everyone was looking for $50 silver, so it topped out around $49 in May and went south fast.

  • Fearless

    Thanks for faking me out, bots. Now the market can rally with my reduced baggage.

  • seek_truth

    I have seen ZH evolve over the past two years where I now questions if the original Tyler D is still involved. the quality of the comments and participants has changed dramatically over the past year and it now sometimes feels like they are trying to stir up fear.  They say everyone has a price maybe Tyler got his?

  • bshah

    Damn.. u know what, i am gonna hold on to my puts.. may be for once in 6 months , i will have chance to get some return.. what the fuck.. heck i can do it…

  • TwinTurboRX7

    Do we have neg div on ZL? Wondering if we can trust this move up into tomorrow…

  • http://practicalt.blogspot.com/ Gold_Gerb

    SPY 5m.

    SO IS THIS a Half donkey or not?

    -confused GG

  • http://practicalt.blogspot.com/ Gold_Gerb

    someone tell me it was a vwap break.
    i’ll feel better.

  • Anonymous

    LOL! Look at 5 min ZL

    Time to back up the truck with shorts

  • http://practicalt.blogspot.com/ Gold_Gerb

    I’ll wait till the end of the T.

    http://tinypic.com/view.php?pic=6te49u&s=7 ;-)

  • http://evilspeculator.com molecool

    That would be a bit premature. Perhaps if we start seeing a negative signal. Thin tapes presents opportunity for tape banging.

  • Anonymous

    Wow, 20 ES handles off ‘earthquake’ lows.

  • http://evilspeculator.com molecool

    Okay, this is just one of my core rules with gold or silver: If it happens to snap back from a  short squeeze rally – take profits after a big candle. There is just way too much bullish momentum in this thing – which is why I don’t overstay my welcome.

    Now don’t come and kick my shin when it drops another 100 handles – I prefer to err on the cautious side with gold. The trend is very strong in commodities, you can’t trade it like stock. Once we see a medium or long term trend change the same dynamic applies to the downside.

  • Anonymous

    gold has been pretty well inverse-correlated to equites, but not in the last half hour

  • Fearless

    With a late explosion like this, there is a good chance of a gap up and run tomorrow, but I only have 5% long to join the party due to the earthquake fakeout/stopout.

  • http://practicalt.blogspot.com/ Gold_Gerb

    (island bottom.  dag nab it.)

    yearly pivot 119 tomorrow.
    Credit grading put back to “new and improved” AAAA.
    BAC merges with JPM.

  • bshah

    i agree and will put atleast some stops to lock some profit.. anyways, my heart is made of cheap plastic from “china”… sorry no offense just fun… but u know what i mean..

  • tradingmom

    Think we can rally back up to the bottom of that green line on the hourly chart — that will bring us back to SPX 1200.

  • Anonymous

    The Bots were at their very best today Fearless.  They got me pretty good.  

    On occasion, I’ll scan the headlines because I’m a glutton for punishment by reading garbage but if I see one more headline about the market rallying in anticipation of Bernanke’s Speech, I think I’m going to Vomit.  

  • Anonymous

    Wow! Talk about a squeeze, reduced longs and still holding small short in gold.

  • http://evilspeculator.com molecool

    Any thoughts on my charts? Ahem…

  • http://evilspeculator.com molecool

    We are not politically correct here – bash whomever you like (as long as it’s in good humor and not overly offensive).

  • http://evilspeculator.com molecool

    Yup, fear mongering galore. I do think he/she is still involved but fell prey to their initial success. It’s a bit of the Cassandra syndrome and a mental state that can be rather harmful to trading and even to your own personal health.

  • Anonymous

    http://www.frbsf.org/publications/economics/letter/2011/el2011-26.html

    Even the Fed is now bearish! What a bunch of morons.

  • Anonymous

    I’m still looking for your tweet on gold

  • Anonymous

    /TF and /ES hit 50% retrace of decline from last Weds. More to come or is that all? Wouldn’t think so.

  • omelette
  • http://practicalt.blogspot.com/ Gold_Gerb

    Stick a T in it.
    4 red candles down, 4 white candles up.
    it would still have to pierce the blue bollingers line.

  • http://evilspeculator.com molecool

    I guess not… :-(

  • http://practicalt.blogspot.com/ Gold_Gerb

    I called 112 to 115 a puke zone.
    I think we’re onto a soylent green theme. ;-)

  • http://practicalt.blogspot.com/ Gold_Gerb

    looked like the greyhound dumped his (ahem) load.

  • http://practicalt.blogspot.com/ Gold_Gerb

    15m to close.

    straighten up your desk.  look sharp.

  • nyse

    Great points ^. You too, Mamma v.

  • nyse

    It’d be cool if you could add one of those widgets to the side of the blog that collect your tweets.

  • nyse

    It’d be cool if you could add one of those widgets to the side of the blog that collect your tweets.

  • nyse

    It’d be cool if you could add one of those widgets to the side of the blog that collect your tweets.

  • nyse

    Earthquake = ELENIN? (http://goo.gl/XdTLF)

  • nyse

    Earthquake = ELENIN? (http://goo.gl/XdTLF)

  • nyse

    Earthquake = ELENIN? (http://goo.gl/XdTLF)

  • http://evilspeculator.com molecool

    ????????????????????????????????????????­???????????????

    N   E   W    P   O  S   T  !   !    N   E   W    P   O  S   T  !   !   N   E   W    P   O  S   T  !   !

    ??????????????????????????????????????????­??????????????

  • http://evilspeculator.com molecool

    ????????????????????????????????????????­???????????????

    N   E   W    P   O  S   T  !   !    N   E   W    P   O  S   T  !   !   N   E   W    P   O  S   T  !   !

    ??????????????????????????????????????????­??????????????

  • http://evilspeculator.com molecool

    ????????????????????????????????????????­???????????????

    N   E   W    P   O  S   T  !   !    N   E   W    P   O  S   T  !   !   N   E   W    P   O  S   T  !   !

    ??????????????????????????????????????????­??????????????

  • Anonymous

    HAARP?
    ;-)

  • Anonymous

    HAARP?
    ;-)

  • Anonymous

    HAARP?
    ;-)

  • http://evilspeculator.com molecool

    Look busy – rumors of surprise inspection.

  • http://evilspeculator.com molecool

    Look busy – rumors of surprise inspection.

  • http://evilspeculator.com molecool

    Look busy – rumors of surprise inspection.

  • http://evilspeculator.com molecool

    Would have been easier to find if Tyler wouldn’t send one tweet a minute:

    “Just saying…  http://t.co/8BSHhYh… http://t.co/mJxFPgM





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