Why don't you support evilspeculator with your trading profits?

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I am really beginning to feel some level of hope because of a few members of congress who are determined to show teeth with the FED. Found this link on Gary Ritzhold's site, which is a July 27th letter from Congress to Bernanke regarding the Fed granting temporary exemption to GS from Market Risk Rules:

http://tinyurl.com/n4lozb

Maybe someday soon organic trading will return to the markets.

How much bandwidth and server power does your blog consume?

good evening all. Hope we can all stay together on this site.

Mole, I used a few alternative ad sense like sites...you can always dip low and go with yahoo?! bidvertiser is popular...

Can you email me please? admin at evilspeculator dot com

tradingperspective.blogspot.com

financial shorts on the tarmac?

A bedtime story of dino stocks http://thetickerstreet.blogspot.com/2009/07/once-upon-time.html

My FSLR take so far earnings - i'd like to hear the bullish case as i am keeping an trying tokeep open mind :)..

Replied in previous post....

i've done some analysis on FLSR, i'm going to have to skip this one. THings that make me nervous, it's had a massive run in 7 days leading into earnings so could be priced in, TSL just raised their guidance before their earnings and stock is down A/H. Pivots are showing sideways to down, there is also a huge amount of OI on the August 115 and 125, insiders also sold a >huge amount< of stock at $200 level recently so i think it leans to the bearish side. Also the fact the analysts have been raising guidance aggressively into earnings ( i know a bit mad but )...i think that's a setup for a miss or inline by FSLR and with a 40PE in this enviro it's going to dump hard an the market looks like it needs to breath around here...of course it could do an ISRG but the evidence is stacked against it right now - will see how it fairs with holding the 170s / upper 160s in the run into earnings....

fslr, fls, tsl, stp - acquired puts today
overall - flipped through roughly 400 charts - there is not a single one I want to buy before substantial pullback

maybe why the market may keep going up a bit more ;)

Z did a nice, logical post about FSLR the other day Ropey- maybe visit that site and see if it's archived over there?

Hey K, yup read that...i guess the evidence is overriding my brain lol....there's alot of reasons why it should dump re" above and people seem very bullish on it....going to watch it very closely

I have too many qualms to get long anything right here (save for scalps) until and unless we either hurdle over that resistance line or tank enough to make some of these stocks looks like they've merely pulled back for yet another run. I imagine I'm not alone either, and if volume continues to stay low I have no doubt that one way or another the MMs or specialists will get that volume rolling again. ST direction unknown for now. I do see a few < $10 stocks that look okay to trade around with, but I won't touch options at all at this spot. You're braver than me Ropey. :-) I took a long look at X today pre-earnings, but skipped the need for any further adrenalin rushes this month. LOL Let me know what you decide to do.

"You're braver than me Ropey. :" no i'm more stupid - i am increasing my risk when i shouldn't be here but i am hedged to an extent....
I still feel they're going to gun for > 1000 first before they pullback, hey maybe i'm wrong and they nail it to 950 now but i just see that big round number oh so close - such a juicy target to suck in more retail longs like me :P lol..
i am very uncomfortable going long here which is why i am doing it ( and i do have shorts on aswell ).. - bit of a nutty contrarian view but everyone ( just like the H&S ) is going this rally is impossible to continue, indicator X is doing this or that, it's been X days, but i saw the same arguments when the H&S was forming and how the rally was the longer ever etc etc.. i need to see large large volume and a blowoff top then i know it's time to get the hell out of dodge :)

My first video w.r.t. my public ES system. Pardon the bad audio for the first 3-4 minutes. Feedback is very welcomed.

http://www.ambgtrading.com/2009/07/first-video.html

... I think Bulls need to very very alert here.

QQQQ daily,...... testing,testing, 123 testing, can you hear me?

http://screencast.com/t/KwFubvuP6Nm

Hang in there Mole.

Sorry to see you down man.

It's that L.A. Smog! Move out of that shit hole city!

p.s. I was born and raised in LA and I'm never moving back.

I'm with you mate - just went to San Diego for a weekend and am wondering why the fuck I'm here.

I have a TD Ameritrade account. Looks like you can now down load your stuff onto thinkorswim platform.

I reported here in January about the tenative merge between TOS and Ameritrade, was supposed to be completed in June, not bad imo, cuz you would also get Quote Tracker free.

Maybe they are wrapping up the loose ends?

you can get QT for 0.01
open amtd $500
withdrow $499.99
bingo

Yes, that is true. I have had a few Ameritrade accounts over the years that I closed only to find they were not really closed... I would keep getting monthly statements for a penny or two. Kind of an annoyance. I called and they said if I wanted to sell for a penny it would cost 9.99 comish... WHAT ! I finally found a rep. that said I could donate it to their charity... Problem solved no cost and it was gone... But it seems idiociy abounds in unlikely places

I had QT before A trade bought in... Jerry Medved just changed account to n/c

Hope so i want bloody forex and futures on TOS Canada lol apparently 'soon' but damn canadian regulators are slowing up everything!

Mole,

Scale it back. Post when you want. Comment when you want. You don't owe anybody anything. I guess you still want to contribute to the 'community' though. So do just that, only when it doesn't reduce your enthusiasm for posting again next time. Evilspeculator doesn't *have* to *be* anything, and you've got nothing you need to prove.

Sounds like it's time to apply some K*I*S*S to your blogging life.

Take care man.

..

I know quants have a mixed rep but the small quant shop I worked for 10 years ago had some very good 2nd derivative charts (can't display w/out permission of my old boss). They rolled over 2 weeks ago so the rally is divergent and on fumes IMO. Backtesting over 15 years the charts signal transitions correctly about 85% of the time. Nothing is guaranteed but this pig's wings are shredding at 40,000 feet.

What chart are you taking the 2nd derivative of? SPY has looked pretty linear the past week. I'd expect the 2nd derivative to be close to 0 for that period. Recently we've been getting some doji-ish days so I guess the 2nd derivative should have turned negative. Two weeks ago I would have expected the 2nd derivative to be positive as the rally was taking off in exponential fashion.

hypothetically, since "someone always knows" - may be someone knew about UBS pulling off InverseUltras - sure other to follow

Meaning that many people who didn't know (i.e. didn't load the boat) wouldn't be able to ride this pig down?

Bernanke is doing a roadshow on PBS' Newshour this week. Check it out. Does his quivering voice and nervous demeanor really lend confidence? I think this performance is a national disgrace and will turn the market red with embarrassment.

OMR, Berskanky has a shit load of treasuries to sell this week. I also found extreme humor in Obama's unscheduled rap on live TV this morning. Could he have crawled up China's ass any further???????

lol, Bearscamski, how about Bearnake

Bearnaked

The 150-member delegation from China now visiting DC is an unarmed army. In their pockets are $2.23 trillion in reserves (with about $800-odd billion in Treasuries and Agencies, the duration of which has been shortening due to a policy switch out of 30-years into 2-years). Patience, long considered a virtue in China, is running out; these people, like the students at Peking University, are laughing at Timmy again. Let's hope they don't fire the shot that will be heard around the universe: "Sell!"

I concur. They've buying up hard assets to rid themselves of their massive USD holdings. We need to watch closely and be very afraid.

Here's the scenario that scares me:

(1) China creates a financial panic in the bond market by offering $500 billion of Treasuries;

(2) The market contemplates a US sovereign default, US interest rates soar, global markets reel;

(4) The IMF is called on for a financial rescue but SDRs are insufficient;

(5) China sells $1 trillion in USD to the IMF in exchange for SDRs so that a rescue is possible.

And there you have it: China gets rid of its worthless dollars and holds the most SDRs on the planet. Of course the SDR becomes the new global reserve currency and America remains the world's largest debtor nation.

Mole, don't know what else to say but what CC said is so true, man - Darkest before the dawn. It all goes in cycles...isn't that what EWT is about anyway? :-)

Hi MJ, good to see you! :)

Good latest commentary from Peter Schiff
http://www.europac.net/

Excerpt:
"The bottom line is that Bernanke has no exit strategy. He can talk about it all he likes, but when it comes time to actually pull the trigger, his nerves will buckle. The current communications campaign is simply an attempt to calm the markets. I doubt few citizens or members of Congress had any hope of understanding the exit strategy mechanisms that Bernanke described. Many likely place their faith in his seeming mastery of financial minutiae. Sadly, as with the mythical “strong dollar policy,” confident talk may be the sum total of the Chairman’s strategy.

He senses that the villagers, in the form of currency traders and bond market vigilantes, are becoming a bit restless. To sooth their concerns, he must pretend that he has the situation under control. Like Jack Nicholson in A Few Good Men, he knows full well that markets simply “can’t handle the truth.”

But make no mistake, in order to mop up all the excess liquidity, the Fed will need to raise interest rates substantially to attract buyers for all the bonds that the Treasury must sell. Fed officials know that our economy is completely dependent on cheap money and limitless government credit, and can’t tolerate the loss of either. Of course, the longer the monetary spigot remains open, the more addicted to low rates we get, and the harder it will be to kick the habit. If the Fed could not remove the punch bowl during the years before the bust, how will they do so while the economy is far weaker? Even if they do start the process, the minute the “recovery” seems in jeopardy, look for the Fed to turn the showers back on.

Also, paring down the Fed’s bloated balance sheet will require selling hundreds of billions of dollars of toxic assets, such as bonds backed by subprime mortgages, credit card debt, and auto and student loans, back into the market. Finding buyers for such sludge without crushing the market is a trick that Houdini himself would be reluctant to attempt. The Fed’s assumption that the assets will no longer be toxic by the time it sells them is farcical. The economy at large has not yet suffered the full weight of the recession because these assets have been largely quarantined at the Fed. Reintroduce these toxins back into the economy and the reaction could be lethal."

Well, it has been going up and I'm tired of losing money, shorting.

Might as well join the bull bus.

That's what most sensible folks are doing. The market is about to nail these folks.

posted few 15min D-Wave charts

hang in there mole. Your voice of reason is a breath of fresh air to counter the msm mess that claims the recession is over. Listen to your thoughts as I find value in what you post and the posts of the other people on this board.

Mole,

I've been STL on this site so much I feel like I've been cheating on my fiance'. I apologize to you, Fuji, Anna, Kiersten and all the rest of you for not contributing (other than STL). I am burned out on this market but as long as Zero and Evil Rat are available I will subscribe. I will subscribe and I will survive.

((((((Many hugs))))))

Jan

Hi Jan! LTNS! I'm glad you stopped by the asylum to say hello and hope all is well with you. :-)

2 questions
a) what is your fiance number?
b) so, that is because of you google freaked out?

LOL,David. Lucky for me he is not the jealous type. Seriously, though, I'm hitting those ads like a mad woman...especially while I'm waiting for a set up.

Actually, this hitting ads too wild thing is what caused me to get banned by AdSense. Not pointing any fingers - a bunch of people probably don't know how this works.

Hi Jan so nice to see you! Yes, this has been one TOUGH ROAD for us all, so tough for me that I am going into currencies. (at least to see) This has been the be all end all last 5 months and we all have been tasered!

We love you girl! :))))

((Anna))

I'm always here and at least I used to be able to contribute some of my research. Seems like everything is just the same old bullshit any more. I truly do appreciate what you do for all of us.

You too sistah! :))))

Mole, hang on bud, we need a front for primary 3. Darkest b4 the dawn, and I'd have to quit sniffing glue to trade!

Offer your systems on Collective2 and don't post as often!

Agree completely on Collective2 - you will get a lot more subscribers if your systems keep performing well

Don't mean to thread crap, but didn't know where else to respond to you, regarding our conversation last week.

Another heads up for you, the guys that were putting to work the bil plus in us equities got their first sell orders today, not all, but partials. They booked 10+% on all positions that were sold today.

"1 week ago
in VIX is up over 4% today on xTrends

not my friends money but trading for mutual funds.. money from john q public.

not saying they are right or wrong, just saying get the gs manipulation crap out of your head.

Jump to »1 reply .
dnarby Ah...

Then that is retail money coming into the market.

At the top. As always.

...Thanks for the head's up!"

Thanks Breakout,

I appreciate the update.

The top is nearly in... Probably a couple more days before it starts to
roll over. I'm betting RUT 570 (I play the small caps) for a top, which
I would guess would put the SP at about 1010.

Question is, do we stop at SP 880, 750, or lower? I'm betting somewhere
between 880 and 750 just to annoy the hell out of both the bulls and the
bears.

You can locate me at http://thetaildoesnotwagthedog.blogspot.com/ I spew
some random ramblings there at times and occasionally post something
insightful.

GL,

Dave

I totally agree!

I finally figured out how to compare your systems to C2 systems ...true apples to apples comparison, which they don't make easy!

There was only one futures system that was even comparable ...and they were CLOSED to new subscriptions.

Everyone already here would follow you ...and I'm sure you would blow away all the other systems over there, quickly adding additional subs.

There's nothing wrong with my current subscriber setup. 99% of the subs have no issue with the email alerts - not one sub I am aware of is unhappy about it. The few issues we had with people abroad were resolved quickly.

I'm talking about the ad network - after all I'm posting a lot here on a weekly basis and although it's not that much money it contributed to me donating time to this. So, I need to find some affiliate network I like (I already tried INO and their content is crap) or a new ad network.

You're missing the point.

There's a whole crowd of system subscribers on C2 right now that WILL NEVER KNOW ABOUT YOU if you don't offer there, and many of those system subscribers diversify systems to spread risk.

Lighten up, relax, laugh and have some fun... Otherwise you'll be in a shitty mood and miss the obvious possibilities. Kinda like... Um...

...I'm just sayin' - & tryin' to help.

have to second what CS stated below - google block services based on algos (I had my blog blocked in the past) - took few days to clear the matter

The gold standard in web adverts is Tribal Fusion. You need high traffic to qualify but there's no harm in applying. They blew me off because I didn't have 5K visitors a day but you might be up there. Adsense will probably clear the BS lockdown. Their filters are set sensitive and then a human comes around and checks into it.

Yea, tribal fusion is excellent.

I do have 5k I think - let me check it out :-)

http://zerohedge.blogspot.com/2009/07/etf-gloves-are-off.html

This is bullshit, this mkt. is getting like the comex in 1980!!!

I saw a post on another site that UBS is also requiring these positions to be liquidated by 8/03.

This combined with the forced short sale buy-ins is creating the ultimate squeeze.

Problem is when this runs its course, the question will be, sell to whom?????????

Short interest declined 72 or 73% in the 2 weeks ended July 15.

The other problem is few shorts will be covering near the bottom when this market finally craters.

"few" or "fewer"? :)

Both haha :)

Going with the EW alternate count, the trend line on the burgeoning megaphone top, and the 38.2 retracement, I see 1010ish as the top and the start of 5 down.
http://screencast.com/t/ArFFNac9

Put your trading systems on C2 and have members be able to read the blog. How anyone can wait for SMS texts, quickly make the trade, then wait for the next SMS to close it out and have a normal day job is beyond me (I tried it for a month on two different occasions and couldnt do it).

Mole, hang on buddy, I see tons of great shorts in alt energy names, oil is short, dollar is long - we almost there.
I don't think it will be pretty and orderly correction

Are we there yet?
Are we there yet?

for pullback - most likely yes (see charts on site), but on a larget scale SPY110 is unavoidable
http://screencast.com/t/dMa6J2aLUMe

Mole-- This is the beggar-thy-neighbor phase of the Deflation Cycle.

Get this -- I am a member of the Better Business Bureau, and have used their logo on mutliple advertising methods for probably 7 years now. This year...out of the blue, they start sending nasty letters stating---we saw you using our logo on your website, and you must pay an extra $100 for this new "electronic BBB" service. Excuse me? Getting worked over by the BBB ---doesnt that tell you a lot about where things are going.

Hang in there Mole, once you are pushed to the edge and TK goes bullish...it can't be much longer.....

I have been threatening to post long ideas as a way to get the market to tank, but I held off....now that we are in a stronger turn window, it might be worth it to launch my long RPG

TK went bullish today.

No shit when? Let me jump on that bandwagon. NOT!! My experience says he's a contrary indicator. Great chartist, good stock ideas, lousy trader.

thank you trading Gods
that is THE most reliable short sell indicator in known Universe ...and Underverse

WATCH OUT BELOW!!!!!!!!!!!!!!

OT: How the Russians see the USA now. The sad truth is that they are correct.

American Capitalism Gone With A Whimper
http://english.pravda.ru/opinion/columnists/107459-0/

I actually saw this a few months ago.

Yeah right - we are all gay and corrupt. Sure - that coming from a country that's ranking in the top 10 of the 'most corrupt nations on the planet list.' Not that the article doesn't make a good point, but when sitting in a glass house it's best to not throw rocks.

Crazy Ruskies...

Hey - at least they are not denying that they are CORRUPT (that is why bribes are smaller in Russian than in USA :)

a grain of truth or not... the article is a propagandist joke, especially coming from a country riddled with corruption and state interference. The touch on homosexuality was... hmmm... interesting, but not uncommon coming from eastern europe.

all we have is a power of denial...we.. I am Russian...from Russia...who am I?
Russian American? Well, less of a nonsense than Black Russian anyways

More than a grain of truth in there sadly.

we - Russians - say: "It would be funny if it was not so sad"

As an another native Russian down here I would say that Obama definitely looks very much like those young russian communists of 1920-ies. The main similarity is the less you read and know the simpler it is to change the world. Even if this change is associated with few million casualties.

As for the Mole's comment I have to say that Nazi propaganda of 1930-ies (starting with book "Main Kampf") was constantly claiming that Communist Russia is an evil state ruled by the bunch of crazy gangsters.
Q#1: Did this propaganda come from a country which was based on principles of justice and freedom?
A#1; NO !
Q#2: Was this propaganda right about communist Russia?
A#2: ABSO-F@CKING-LUTELY !

I thing the analogy is obvious

that is why Stalin feared intelligence

Hey, I have nothing against you crazy Ruskies - in particular those cute Moscow beauties :-)

I'm on nobody's side guys - I hold two passports and am working on the third one. The world is my oyster and this whole nation-against-nation stuff is so 20th century. Problem is that we are all born in nation states which pits us against each other - most of us fall for this crap and some even die for it. Waste of time, energy, and lifes.

Dear Mole. Your post was not insulting at all and I just thought that this small analogy would help the discussion.
It's nice to be here.
!!!!!I love you too!!!!!

Well, my 2nd passport is German, so I thought you were trying to make a point ;-)

Anyway, hugs all around - if I'm ever in Mokba I let you guys know.

I didn't know you are German so since you are, please accept my deepest apologies (I didn't mean to make that type of point) and respect for the member of the most technologically advanced nation on planet earth, which accounts for at least 80% of all technology we enjoy today. (i know what I'm talking about)

BTW I live in Toronto - so there is no need to go to Moscow in case you'll miss me a lot :)

Most charts tend to indicate a correction in the short term. That's been the case for the past week and the market has kept pushing upwards.

So I'm holding my nose and going long on specific stocks as opposed to etfs and indexes. I'm resigned to the fact that while I anticipate a short term correction, I haven't been able to time it properly so far and I probably won't be able to time it right whenever it happens.

So I've given up trying to position myself to the short side for the correction and instead hope that by playing individual stocks as opposed to indexes and etfs that my stock positions won't be hit as hard as the indexes/etfs when the correction begins that I'll be able to exit my positions with minimal to no loss and still go short and catch some downside.

This rally has rallied 14 days from the bottom. The stronger rally in March and the second in April went up 15 and 14 days respectively.
Not saying it happens tomorrow, but this thing is getting to be alot like Dolly Parton. Topheavy. When it does fall it'll fall of its own weight, and be to the tune of at least 50 points. Still short and waiting.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p59183074300

I just hope the bra can support the weight for this week although i am getting my doubts, still a quick tease of 1000 before the rollover down would be rather sweet.

That's a nice Hanging Man way up there at the very tippity top.

I think I recognized that face - this is a newborn bull !

Mole, I hear what you are saying about the cost of funding this forum, but I also hear something else as well. After throwing your heart and soul into this blog, you are also recognizing that you cannot keep it up either. I am sure a lot of your time has been in building the automated trading systems along with the zero, but finding intelligent things to say with a market that is not following the rules is also extremely frustrating.

"I’m worn out - feel like I’ve been swimming up stream for months now. This is not fun anymore…"

You are burnt out man. That statement had nothing to do with Ad Sense. Finding a source of revenue to replace Ad Sense will not relieve you stress. Charging for this content won't relieve it either. I am not sure what the answer is, but getting some help is probably what you need. There is a rhythm to your posts that some here could help with. You have very capable traders here that would be glad to spend some time helping each day. This could free up your time and allow some of your accomplished minions here to showcase some of their skills. I fear if you don't address this now, you will wind up like Berkshire and decide you can't do it any more.

Mole, you are familiar with the Bill Cara blog? His blog itself is fairly weak (although Bill is top notch), but he has assigned people that do basic research and post things on a regular basis....not just new stuff like Fujisan, but routine stuff that people can find useful. Think about an at a glance...bullish percent interest, put call ratio, and some other sentiment indicators that would be posted as a file with a link everyday....BY SOMEONE ELSE. That would be very cool, and good for you .

For ads - www.fetchback.com - seen some good sites use them.
Also, I told you this before, but you could save a lot of bandwidth by breaking up your pictures.
People refresh a lot, but they really only need to download the right most sliver.
Make the sliver dynamic and the rest static.

Or you could write a little AJAX to do it for them, and then they'd never have to refresh.

Here is my plan: for the next six weeks, I think volume will be low - so we load up our vehicle of choice with lots of goodies from Costco and take off and return refreshed.

Jeremy Grantham is expecting prices to come down as well:

http://www.gmo.com/websitecontent/JGLetter_ALL_2Q09.pdf

another move up into the close, we'll likely to see rally up tomorrow

I covered my SPY shorts from last week today on a dip for a small profit but nothing worth the agita...

Now I'm looking at this hanging man and thinking it makes sense to be short here especially now that it seems that most of the bears have capitulated.

To play or not to play that is the question...

Hey, I haven't capitulated yet. Watch out :-)

have mercy - give up - will ya? :)

Another day not to the downside. Short term we are due for a drop but as Mole has shown on his charts I wouldn't expect much.

If anything it's an opportunity to go long (you don't say!) Been looking around at some cycle stuff and we could be on the edge of a big upcycle for the DOW and S&P. Close look at the way down shows a mirror image since March on the way up. (I understand Neeley is saying we are near a big high but he has said that before?)

If this cycle kicks in to the upside it could be like a rocket...

I'm as feed up as anyone esle on this board trading crumbs from day to day. And I don't think this market is ready to plunge.

http://www.screencast.com/users/Plug21/folders/Jing/media/5fa8ef4b-c8f9-402c-a3c1-c964945f7031

Good night.

Nighty night Ted, sleep well my friend. ;) good post and most already know my position at this point, on any pullbacks go long. (at least for a while longer)

I did well today because I went long close to LOD 973. But nothing to go and shop for a new louis vuitton purse with though.

hate it when I am right and did not trade it - that damn yellow circle was the for 3 damn weeks...I think I am losing my cool
http://screencast.com/t/qscke3kRl

I've got a few AUG puts that have been in a cryogenic freeze for the past week, turning the temp up as those bad boys are going to work tomorrow. A lot expect a weak retrace from here before turning higher. I don't disagree, but I won't be surprised if they shake out the weak bulls and make it foggy for all either. Cheers

Case-Schiller, cons confidence tomorrow.
Exxon,Durables, tan book wednesday.
Initial claims thursday.
GDP and its friends, PMI on friday.

We might get a little window on the XOM world via BP tomorrow when they report. Time will tell....

there are 2 alternate waves on BP as well as XOM
since UP wave sequence on corrective W4 (or W2 as well, but not in this example) dipped under 40RSI (I have 38 on chart)
theory says DOWN wave sequence is preferred one.
If it holds water - both company will sell on ERs
BP completed Sell Setup Thursday right at 76% W2
http://screencast.com/t/Z3Te8FSX
XOM completed Sell Setup Friday right at 76% W2
http://screencast.com/t/HYhn2tqV

BTW - MA looks like a prime short

Have you been charting XOM long term? It is very interesting. I'd like to share my chart with you, may I email it to you for your opinion? If so, khildenbrandt@gmail.com , and I'll reply with it. Or I could fire up that piece- dropbox.

Yes, I've been tracking it carefully too- I'll zip an e-mail on over to you right now....

Katzo might be right about a big selloff tomorrow. Hanging man candlestick on the spx daily today.

Scratch my post Jack- you are correct. (rolling eyes at myself over here and banging head on keyboard)

I'm not seeing a hanging man- I've got a black doji though. Haven't check the other indices or the usual suspects like oil and the dollar yet.

Look back 4 and 7 days back, two hanging men candles. Wouldnt rely on them too much

I wouldn't dismiss them either though. I see three other candidates but I don't think any qualify. The first on 14th July was after only one day's rise so wasn't at the end of an uptrend. 17th July didn't rise enough to count, and 21st July might qualify, but had a suspiciously large upper shadow and looks more like a long shadow candlestick.

This does look like the only clear hanging doji in this uptrend to me, and we really are overdue a pullback IMO.Doesn't mean it will happen though.

Sometimes it takes a few days after a hanging man candle for the market to turn over...

I've been looking for a tombstone doji or an exhaustion gap.

candle sticks are as good at predicting market moves as my girlfriend's underwear color of late. Overbought levels are sure very high, as well they should be after once in a decade move. For bears to get anything significant going this trendline would have to be broken
http://esecfutures.com/wp-content/uploads/2009/07/es603.png

and then right below there will be backtest of big daily s/r level in 950s. Until then "bullls" are in full control

I personally have a very tough time chasing the tape here, except for maybe an intraday scalp.

Good Trading
Cheers

I propose we change that particular candle to the hanging bear.

when is this fucking rally over?

...when I cover my shorts :-)

any chance you'll do it ASAP?

I almost did it today but decided to wait for a better opportunity this week assuming the market will allow a decent retracement before going for the Round Number.

I have UBS accounts loaded with inverse ETFs and I was told today that they need to be sold off by August 3rd. I never thought I would be forced to cover my inverse ETFs, but then again I never thought I'd see people who default on their mortgages and are still living in homes that should be foreclosed months later.

is it due to a margin call?

Nope. I don't use margin (fortunately). All UBS customers are being forced to get rid of their leveraged or inverse ETFs by August 3rd. I think a lot of brokerage firms are going to follow them if the fallout is not too bad. The excuses I'm reading is that these firms are getting nervous about legal liabilities as well as excessive margin calls.

So now I'm looking to replace my UBS trading accounts...

Sounds scary to me. WTF? Am I going to end up with $0 instead of leverage ETFs I have now in play?
Which legal liabilities?
You scared a sh@t of me. Seriously

The brokerage firm has liability issues. They cannot allow customers to trade "unsuitable" instruments or make "unsuitable " trades. UBS decided that the Leveraged ETFs were in this category.

wow
so after year 2000 - every single long instrument has to be banned from trading?
they getting more creative by the minute - it'll be a lot of fun to watch this house of cards to fall

I don't think that was the point I was making.

were you referring to 401Ks permitted instruments?
if not - TOS, AMTD and every single broker might just decide at will what we can and cannot trade?

Brokers have a proactive duty to recommend and execute only suitable investments. How that is determined is up to the compliance dept.

You're not going to end up with $0 (well, if you hold FAZ long enough, you may).

You'll have the opportunity to sell them off before a certain date (and then proceed to look for a new company that does not pull this kind of BS to do business with.)

The liability angle has to do with accounts of people who are supposed to be assisted by investment advisors who are employees of these brokerage firms...

That's why I'll loading up on pit options on 3-x ETFs - free money in the long run.
Anyways. thanks for you replies

LOL

wow what a classic meltup. This is becoming so predictable!

FWIW- ETF's and funds can only do their buying in the last half hour of trading after the shop closes at 3:30est. They have a window the next morning as well but far less volume occurs. It seems investors were buying the dip this morning and the funds acted accordingly. Great trades to scalp onto if your nimble. The painters couldn't pop the wedge and painted some nice candles on spx and xom.

It is isn't it. I guess it will work till it doesn't. :)

doji?

maybe next time...thanks for playing...

Round Number, Round Number, Round Number!!!

Heh. SPX almost made a new HOD for the closing. I guess the set up to go after the Round Number is in place though.

I really don't know how you do it Mole. I know nothing about websites and can only wish you the best. You're a pretty class act and top notch analyst/trader for someone who is sight challenged and lives in a tunnel beneath someone's lawn.

Jim

Summertime- you trade on Tues, Wed and Thurs and do nothing for a nice 4 day weekend. Now I remember! :-)

With you on that. Just one trade for me this morning, then went out for a long walk and lunch. Didn't miss much.

Other than covering my AMZN short, I didn't touch a thing either. Good time to buckle down and just do some scans and backtesting most likely.

Have to say this site is a lot of work. Lot of work. Second thought - everything that does not bring profit or satisfaction ends eventually. Maybe it's time to end this site. Have you ever ask what is the purpose of this site? How can it serve you?
Do you want to make money? or do you need audience?

Because I'm your audience. Because I didn't make a dime from your advices. You are more of a professor that reads lectures on trading and gives advices.
Eventually you should join forces with Fujisan, put all charts together and write a book.

Your site will be truly missed.

I'll be surprised if the PPT doesn't pull their late day shenanigans again. Just give me a late day selloff !!

diff day same fecal

You were saying CC???

now be nice CC!!! you can't always have your way LOL :)