A Good Start

2:06pm EDT: Well, what do you know – we actually breached a support line for a change – it must have been weeks since that happened:

I call that a good start, nothing else. We bears have taken it up the rectum for so long that a five SPX point drop feels like Christmas to us. Just look at this chart – the punishment we’ve taken for weeks – it hasn’t been pretty. Now it’s time that we’ll see some downside – and I’m talking about a systematic sell off. If we get yet another EOD snap back we might just consolidate sideways for a week. It’s important that the bears jump in here and put on the pressure. I’m holding my puts – plenty of gaps to fill below – yes, maybe I’m a gluton for punishment.

2:38pm EDT: I just said to Keirsten: At this point I don’t even care that much about the profits – I just want to see ONE FUCKING SELL OFF that doesn’t get reversed the same day or the next open 😉

Anyway, the Zero Lite is flatlining and that is making me very very nervous. I know that there’s POMO money out there and we’re also getting close to freaky hour. But at the same time I know that I got a good entry this morning and I’m tempted to hold through any counter action, which might be reversed the next morning. Sometime you just have to stop fiddling with it, do nothing, just sit there and wait those mofos out.

3:24pm EDT: Well, it’s official – the bars are complete pussies and I’m glad I hedged myself around ES 993.50 – they can ride it up all they want – profits locked in (for now). This game is getting really old and on POMO days we can count on Old Faithful to start spouting right around 3:00pm with a finale at 3:30 into the close.

This was taken around 1920 – which is the same number we’re probably going to on the NDX unless the bears finally start growing a pair 😉