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Bang It Baby
107

Bang It Baby

by The MoleMay 19, 2009

UPDATE 10:10am: It’s blatantly obvious that the NQ is being used again to paint the tape higher – no matter what:

There has been a very distinct discrepancy between ticks in the NQ and the ES – the screen shot above does not require much explanation. I am also seeing some very ‘unnatural’ readings in my short term stochastic/MACD. Not liking this tape at all and I just hedged myself with some NQ futures.

UPDATE 10:19am EDT: Mr. Vix just returned to base camp – altitude now below 30. Hat tip to BigHouse. Well, the good news by dear genetically modified bear-rats: Options are going to get really cheap now – I can’t wait for the finale of Primary wave {2} – this is going to be fun :-)

UPDATE 10:25am EDT: We are now above VWAP on both the NQ and the NS – Curly will not be denied. Breadth ratio on the SPX about 1.2:1 advancing – about 1:1 on the NDX.

UPDATE 10:41am EDT: Breadth on the NDX now 2.25:1 advancing – gee, I wonder what happened in the last 15 minutes? BTW, I’m out of my NQ longs – that was a sweet ride – I’m pretty much done for today :-) Yes – still holding my puts – you guys are a bunch of worrywards.

Your cubes channel du jour…

UPDATE 10:51am EDT: Here I go again…

Yes rats – I’m going to short Gold right here – stop only a few points away. We’ve got a nice retest of that diagonal and I see a nice setup. The risk/benefit ratio right now is excellent and if I’m wrong I will know right away. FYI – I’m going with a GLD put spread to counteract possible theta burn.

I’m actually thinking of a June 91/88/85 Put BF – pretty much a lottery ticket. Or perhaps a 90/87 diagonal. Any thoughts on that one, Fujisan?

UPDATE 11:05am EDT: Alright, a girl has the right to change her mind, right? And I just did after looking at today’s Dollar tape:

Once we breach below the recent lows 80 is almost guaranteed. Would not benefit my GLD trade, so I’m not taking it unless I see a turn around here. My friend Blind Eagle also says that GLD is ‘bad medicine’.

BTW, we are now touching VWAP on the ES (909) and the NQ (1390ish) – let’s see what happens here besides the obligatory VWAP brouhaha.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • isaiah64v4

    MyLifeMyTrade

    Why are you going long? You posted this farther down on the previous page?

    “IMO.. retest of 940 would be too easy for the bears.. I dont think we get that high… I think we gap up tomorrow to shake out hobby bears and then go down big… OR we just gap down, close the gap and then fall off the cliff… Either way we are closing in red tomorrow..

  • Count_de_Monee

    Morning GS intel report as promised:

    “-Yesterday was the first time in 9 trading sessions that our program trading desk was axed to the buyside. Was buying for European real money accounts.

    – Europe behind the curve with regards to recapitalizing its banks – facing losses equivalent to 3 years of operating profits – likely to impede lending & recovery. Erik Nielsen: On our numbers, Euro-zone banks are facing losses on the order of a trillion euros, broadly equivalent to three years of operating profits. Hence, without up-front capital injection to strengthen the balance sheets it’ll be hard to see lending taking off to any significant extent, and without lending, where will the recovery come from?

    -NAHB Housing Market Index rose in line with expectations in May – but still at extremely depressed levels – and improvement entirely in expectations – traffic of prospective buyers unchanged. The NAHB Housing Market Index improved two points in May, to 16 from 14. This was inline with expectations and the second increase in a row, which brings the index somewhat further off its all-time low of 8 that it reached in January. Even with the improvement it remains at extremely low levels, and does not augur any sort of strong turnaround in the housing sector. The composition of the improvement is somewhat on the weak side. The improvement came entirely in builder's expectations for present and the future sales. The index for traffic of prospective buyers, which is the hardest data in the survey, was unchanged at 13.

    -More on corporate buying – down -80% yoy so far in 2Q. TrimTabs: New cash takeovers and new stock buybacks combined have amounted to $21.5 billion in Q2 2009, down 80% from $105.6 billion in the same period last year. Companies do not seem to think their shares are attractively priced.

    – More on insider buying – down -91% yoy so far in 2Q. TrimTabs cont'd: Insider buying has amounted to just $420 million in Q2 2009, down 91% from $4.8 billion in the same period in 2009.

    – Will companies, or investors, be proven correct in their outlook on the U.S. stock market? TrimTabs cont'd: Time will tell the outcome, but history shows that companies almost always make the right call over the longer term.

    – Substantial shadow inventory in the US housing market – high percentage of homeowners waiting for a market turnaround to sell. CalculatedRisk: When asked about future plans to sell, 31 percent of homeowners said they would be at least “somewhat likely” to put their homes on the market in the next 12 months if they saw signs of a real estate market turnaround. Since about 6% of owner occupied properties turnover per year, this is a substantial shadow inventory.”

    And that's a wrap rats. Seems my friend's report that GS was issuing buy orders yesterday was right on the money. The insider data leads me to conclude that this rally is running on fumes and will soon reverse. We shall soon find out.

  • Gordon_Gekko

    People – DO NOT even try to short Gold. I know it makes sense under certain circumstances, but these are not it. These guys, i.e. Ben & Co., are trying the reflation play a.k.a. 2003. They are trying to prop up the prices nominally to keep the sheeple sedated, but they also know that if they do this something has to give, and that “something” is Gold. The real stock and index prices, i.e., in terms of Gold, have been going down since the tech crash, and they will keep on going down, but the nominal is a totally different game. They will prop up the stock market nominally at the cost of a controlled rise in the price of Gold, as has been the case since '03. Keep in mind that you are playing in their casino (markets) with their chips (FRN's) which they can create and use at will.

  • alphahorn

    SPX 912-3 then a correction

  • GoCougs

    Yesterday's high broken on the QQQQ's. Off they go…f*ckers.

  • CowardlyLion

    It's all about dollar weakness right now, until the buck stops ishting itself we'll have no selling pressure.

  • BigHouse(Aka Mr Vix)

    I'm glad i'm long FAS.They are going to take this POS and the market up to the moon.I expect to see 11 for FAS today.

  • innatedc

    Feeling sick about but I'm going long… In SPY…

  • disrespekt

    iyr…wtf, dammit, now i am offsides on srs because I didn't stick to my strategy

  • BigHouse(Aka Mr Vix)

    looks like XLF wants to fill that gap back on MAy 11 @ 12.80 .

  • BalaB

    SIGH…..Not an easy tape to trade but thankfully are on the right side. (I learned my lessons during yesterdays open)

    Definitely time to go to wider time frames for more accurate intra-day trend readings

  • C.C. Rider

    With ya on the FAS train and SSO. Bang it higher baby! If the bears can't beat'em, they better join'em for the ride.

  • http://www.jackbridges.com rocker_jdb

    “Don't fight the tape,” “Don't fight the Fed,” “Don't fight anyone wearing an eye-patch,”
    “Don't short a dull tape,” “Don't short Goldman Sachs,” “Don't short IYR,”
    “Always have a stop,” “Goldman always blows my stops out,” “I can't believe I just bought into this market,”

    I'm so tired of this whole charade. Please, somebody wake me up when the criminals have breached 1000 on the S&P.

  • anotherone

    I'm starting to build a long position in SPX options. Buying SEP 950/1000 call verticals one at a time. I'm just not nimble enough to trade the shorter time frames. Looking at possible targets for the end of Primary {2}, I see that 880 is the 23% retracement of Primary {1} and 1014 is the 38%. So I think 1000 is a reasonable target. And with VIX at 30, SPX options are cheap, though they could get cheaper.

    I'm also keeping some Jun Put verticals in QQQQ if the market decides to tank, but I'll cut those positions if they start losing too much money.

  • lester

    The market is banging me in the ass everytime I get a break from work and take a peek at the tape. I bought QQQQ Puts last week and added yesterday. My thinking was simply, the fucking Qs have to drop sometime before June OPEX and I can make some money. The only problem with that line of thinking is that the fucking Qs will be at 38 before we have a down day and then my fucking 35 Puts will not be worth anything. I am soo stupid for being a bear. I could have bought Q Calls last week and feel like I got laid instead I feel like I have that elephant trunk up my ass.

  • Squidman

    Lester, it's time for you to take your medicine. Bought Q puts yesterday. I cannot imagine how you came to that conclusion.

  • BalaB

    WE're getting pretty extended here…..gonna take some profits.

  • molecool

    I rode this one up with ya, bud :-)

  • annamall

    Mole my friend, you never disappoint :-)

    I sold most all shorts, you're right guys, you can't fight the tape, it will take you out! (and beat your butt)
    I am now a reluctant bull, but playing small. Long FAS, /ES

  • LostIllini

    Sorta like sleeping with a fat chick, no?

  • molecool

    He was following me around. Of course I know how to keep myself out of trouble… You can't trade another man's system – learned that lesson a long time ago.

  • molecool

    A lot of fear and frustration here. I like it. Means we might drop like a rock soon.

  • LostIllini

    That's got to be really hard to do…. That gap on the SPY Hour MACD is saying…Short the hell out of me. Now all we need is Uncle Buck to get a freakin spine.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    XLF has busted through the green fib fan that stopped its advance yesterday (approx. $12.40). Let's see if she's gonna base above it or drop back thru — this will be a good clue. Still holding FAS, adjusting stop as we go.

    http://tinyurl.com/qnwy2k

  • Squidman

    5/15/30, 5 for entry?

  • anthem

    I “capitulated” as well. Rode it from 907 to 913 and took the points. It's dropped down a bit, now the question is do I jump back on or go the other way ? I'm not doing anything until I see some sort of commitment as “cash is also a position”. . . .

    I'll maybe bite on some small SRS longs and maybe look at exiting my GS shorts since GS looks quite strong today.

  • alphahorn

    From the chart I posted this morning. SPX met resistance and pulled back exactly at the resistance from 5/12 highs, but i don't think this will be the end of the rise. It seems we're set for 934ish where it will meet all kinds of resistance, previous highs, retest of the broken trendline and the 200 day MA

    http://www.screencast.com/users/alphahorn/folde

  • lester

    Well I was following Mole, and I would say the majority of folks here are bearish. I also saw a gap up yesterday and then it started to fade, so I bought Puts. Its that simple. Now the question is why have I held thru this raping. I am sorry to vent so much but I am really stupid here. I have a feeling I am not alone on this blog though.

  • LostIllini

    Why I have a tough time getting long….Granted this is the 15min but it's equally silly on all time frames.

    http://www.screencast.com/users/lostillini/fold

  • BalaB

    Try maintaining the trend of a 15min and 60min and look for entries on 5 or 10min. Lets see how this works for now.

  • http://www.jackbridges.com rocker_jdb

    Frustration, sure. Fear, I'm not afraid of watching my family's hard assets appreciate like crazy in relation to toilet paper currencies; I'm afraid for middle-class people who are at the mercy of the ankle-grabbing casino for their retirement money, etc.

    I'm just a little peeved at having to hedge, re-hedge, un-hedge every stinking week.

    You're right though, Mole: This sort of sentiment is what brings about crashes. Eventually.

  • C.C. Rider

    IMO bears are trapped in here waiting for lower prices to cover. Ain't gonna happen, and the melt will surprise and take down the biggest , baddest bears. When that happens, go short. Crowd psychology at it's best!

  • BearsRus

    Got some OTM FAS July put orders in play.. hopefully the VIX drops to my 28.20 target FTD and I get filled on those orders..
    I'm expecting to sell those at major % gains before expiration..

  • BalaB

    Cool…

    re: GLD – Laugh Snicker Snort….you never give up do you…? SNICKER

    btw, NT is becoming very quickly my charting preference. I may have to say goodbye to TOS.

  • mrclam

    I capitulated this morning. Took a 10% hit to my book between yesterday and today. Only short CMTL now.

  • GoCougs

    QQQQ's came close to the November high of $34.52 and turned away, looking for a re-test this afternoon. I am still holding shorts here.

  • Count_de_Monee

    I agree. I see bears throwing in the towel everywhere. I'm now net short.
    Sub 900 or bust, baby.

  • annamall

    Thanks for the chart alpha, at this point I totally agree.

  • molecool

    Comment count is low today – seems like everyone is taking it up the rectum. Guess it's time to grab breakfast as I seemingly am talking to myself.

  • Squidman

    Wrong again; you are truly outstanding on this blog. Chapter 2, first 4 words please?

  • Graphite

    Zero finally painted a long VTA just before we dropped 3 handles on /ES, ARGH!

  • Skates

    Nope, saved the gun powder and definitely used the KY for the ride up…

    BTW, I saw some Bears popping Levitra so hopefully we get a happy ending soon enough!

  • lester

    Qs have pulled back to bottom of two day trend line. Thinking to close my Puts. I would go long, but my funds will not settle until tomorrow, so I basically cannot do anything today.

  • Royal With Cheese

    Frustrated to say the least.. I feel like climbing the Eiffel Tower and throwing my desktop !!
    Regarding fear .. i have none ! Born in Beirut !! 😀

  • C.C. Rider
  • molecool

    ¤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„¸

    Not that you guys deserve it…

  • innatedc

    Yep quick scalp on the SPY and out….waiting now….

  • IamSMRT

    TRHGTRHTRH

  • IamSMRT

    Deficits just don't seem to matter anyone. Stocks keep surging no mutter how much money the fed is printing. All we need to do is make sure we keep buying. This may seem irrational and nonsensical, but that's just the way things are, and there is NOTHING you can do about it but GO LONG and BUY stocks to MAKE MONEY from the inevitable transition to a TYPE 1 civilization run by The Creators of The New World Order.

    To be honest, I am long stocks, but I wouldn't mind the market falling to LESSEN the power grip of the future overlords of humanity.

    The stock market keeps going higher

    fINANCIAL CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    TGTHTRHTR

  • IamSMRT

    The stock market keeps going higher

    fINANCIAL CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    The stock market keeps going higher

    financial CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    FINANCIAL CRISIS HAS BEEN FIXED

    No one who reads this blog makes any money following Tim's advice. The charts are worthless. They are quality charts rendered by a sophisticated software, but they are worthless with regards to making money ( and isn't that the whole point of the stock market)? Long lines, shade in,s trends, all crapolla.

    dow 14000 soon according to experts

    http://www.screencast.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • isaiah64v4

    MyLifeMyTrade

    Why are you going long? You posted this farther down on the previous page?

    “IMO.. retest of 940 would be too easy for the bears.. I dont think we get that high… I think we gap up tomorrow to shake out hobby bears and then go down big… OR we just gap down, close the gap and then fall off the cliff… Either way we are closing in red tomorrow..

  • Count_de_Monee

    Morning GS intel report as promised:

    “-Yesterday was the first time in 9 trading sessions that our program trading desk was axed to the buyside. Was buying for European real money accounts.

    – Europe behind the curve with regards to recapitalizing its banks – facing losses equivalent to 3 years of operating profits – likely to impede lending & recovery. Erik Nielsen: On our numbers, Euro-zone banks are facing losses on the order of a trillion euros, broadly equivalent to three years of operating profits. Hence, without up-front capital injection to strengthen the balance sheets it’ll be hard to see lending taking off to any significant extent, and without lending, where will the recovery come from?

    -NAHB Housing Market Index rose in line with expectations in May – but still at extremely depressed levels – and improvement entirely in expectations – traffic of prospective buyers unchanged. The NAHB Housing Market Index improved two points in May, to 16 from 14. This was inline with expectations and the second increase in a row, which brings the index somewhat further off its all-time low of 8 that it reached in January. Even with the improvement it remains at extremely low levels, and does not augur any sort of strong turnaround in the housing sector. The composition of the improvement is somewhat on the weak side. The improvement came entirely in builder's expectations for present and the future sales. The index for traffic of prospective buyers, which is the hardest data in the survey, was unchanged at 13.

    -More on corporate buying – down -80% yoy so far in 2Q. TrimTabs: New cash takeovers and new stock buybacks combined have amounted to $21.5 billion in Q2 2009, down 80% from $105.6 billion in the same period last year. Companies do not seem to think their shares are attractively priced.

    – More on insider buying – down -91% yoy so far in 2Q. TrimTabs cont'd: Insider buying has amounted to just $420 million in Q2 2009, down 91% from $4.8 billion in the same period in 2009.

    – Will companies, or investors, be proven correct in their outlook on the U.S. stock market? TrimTabs cont'd: Time will tell the outcome, but history shows that companies almost always make the right call over the longer term.

    – Substantial shadow inventory in the US housing market – high percentage of homeowners waiting for a market turnaround to sell. CalculatedRisk: When asked about future plans to sell, 31 percent of homeowners said they would be at least “somewhat likely” to put their homes on the market in the next 12 months if they saw signs of a real estate market turnaround. Since about 6% of owner occupied properties turnover per year, this is a substantial shadow inventory.”

    And that's a wrap rats. Seems my friend's report that GS was issuing buy orders yesterday was right on the money. The insider data leads me to conclude that this rally is running on fumes and will soon reverse. We shall soon find out.

  • http://gordongekkosblog.blogspot.com/ Gordon_Gekko

    People – DO NOT even try to short Gold. I know it makes sense under certain circumstances, but these are not it. These guys, i.e. Ben & Co., are trying the reflation play a.k.a. 2003. They are trying to prop up the prices nominally to keep the sheeple sedated, but they also know that if they do this something has to give, and that “something” is Gold. The real stock and index prices, i.e., in terms of Gold, have been going down since the tech crash, and they will keep on going down, but the nominal is a totally different game. They will prop up the stock market nominally at the cost of a controlled rise in the price of Gold, as has been the case since '03. Keep in mind that you are playing in their casino (markets) with their chips (FRN's) which they can create and use at will.

  • http://alphahorn.blogspot.com/ alphahorn

    SPX 913-4 then a correction

  • GoCougs

    Yesterday's high broken on the QQQQ's. Off they go…f*ckers.

  • CowardlyLion

    It's all about dollar weakness right now, until the buck stops ishting itself we'll have no selling pressure.

  • BigHouse(Aka Mr Vix)

    I'm glad i'm long FAS.They are going to take this POS and the market up to the moon.I expect to see 11 for FAS today.

  • innatedc

    Feeling sick about but I'm going long… In SPY…

  • disrespekt

    iyr…wtf, dammit, now i am offsides on srs because I didn't stick to my strategy

  • BigHouse(Aka Mr Vix)

    looks like XLF wants to fill that gap back on MAy 11 @ 12.80 .

  • http://implicittrading.blogspot.com/ BalaB

    SIGH…..Not an easy tape to trade but thankfully are on the right side. (I learned my lessons during yesterdays open)

    Definitely time to go to wider time frames for more accurate intra-day trend readings

  • C.C. Rider

    With ya on the FAS train and SSO. Bang it higher baby! If the bears can't beat'em, they better join'em for the ride.

  • http://www.jackbridges.com rocker_jdb

    “Don't fight the tape,” “Don't fight the Fed,” “Don't fight anyone wearing an eye-patch,”
    “Don't short a dull tape,” “Don't short Goldman Sachs,” “Don't short IYR,”
    “Always have a stop,” “Goldman always blows my stops out,” “I can't believe I just bought into this market,”

    I'm so tired of this whole charade. Please, somebody wake me up when the criminals have breached 1000 on the S&P.

  • anotherone

    I'm starting to build a long position in SPX options. Buying SEP 950/1000 call verticals one at a time. I'm just not nimble enough to trade the shorter time frames. Looking at possible targets for the end of Primary {2}, I see that 880 is the 23% retracement of Primary {1} and 1014 is the 38%. So I think 1000 is a reasonable target. And with VIX at 30, SPX options are cheap, though they could get cheaper.

    I'm also keeping some Jun Put verticals in QQQQ if the market decides to tank, but I'll cut those positions if they start losing too much money.

  • lester

    The market is banging me in the ass everytime I get a break from work and take a peek at the tape. I bought QQQQ Puts last week and added yesterday. My thinking was simply, the fucking Qs have to drop sometime before June OPEX and I can make some money. The only problem with that line of thinking is that the fucking Qs will be at 38 before we have a down day and then my fucking 35 Puts will not be worth anything. I am soo stupid for being a bear. I could have bought Q Calls last week and feel like I got laid instead I feel like I have that elephant trunk up my ass.

  • Squidman

    Lester, it's time for you to take your medicine. Bought Q puts yesterday. I cannot imagine how you came to that conclusion.

  • kinihepu

    A/D on the NAZ don't seem to be going along for the ride. Could we be seeing capitulation of some sort?

  • http://implicittrading.blogspot.com/ BalaB

    WE're getting pretty extended here…..gonna take some profits.

  • http://evilspeculator.com molecool

    I rode this one up with ya, bud :-)

  • http://www.hotoptionbabe.com annamall

    Mole my friend, you never disappoint :-)

    I sold most all shorts, you're right guys, you can't fight the tape, it will take you out! (and beat your butt)
    I am now a reluctant bull, but playing small. Long FAS, /ES

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

    Sorta like sleeping with a fat chick, no?

  • http://evilspeculator.com molecool

    He was following me around. Of course I know how to keep myself out of trouble… You can't trade another man's system – learned that lesson a long time ago.

  • http://evilspeculator.com molecool

    A lot of fear and frustration here. I like it. Means we might drop like a rock soon.

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

    That's got to be really hard to do…. That gap on the SPY Hour MACD is saying…Short the hell out of me. Now all we need is Uncle Buck to get a freakin spine.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    XLF has busted through the green fib fan that stopped its advance yesterday (approx. $12.40). Let's see if she's gonna base above it or drop back thru — this will be a good clue. Still holding FAS, adjusting stop as we go.

    http://tinyurl.com/qnwy2k

  • Squidman

    5/15/30, 5 for entry?

  • anthem

    I “capitulated” as well. Rode it from 907 to 913 and took the points. It's dropped down a bit, now the question is do I jump back on or go the other way ? I'm not doing anything until I see some sort of commitment as “cash is also a position”. . . .

    I'll maybe bite on some small SRS longs and maybe look at exiting my GS shorts since GS looks quite strong today.

  • http://alphahorn.blogspot.com/ alphahorn

    From the chart I posted this morning. SPX met resistance and pulled back exactly at the resistance from 5/12 highs, but i don't think this will be the end of the rise, we'll get a pullback to 907-909, then march on. It seems we're set for 934ish where it will meet all kinds of resistance, previous highs, retest of the broken trendline and the 200 day MA

    http://www.screencast.com/users/alphahorn/folde

  • lester

    Well I was following Mole, and I would say the majority of folks here are bearish. I also saw a gap up yesterday and then it started to fade, so I bought Puts. Its that simple. Now the question is why have I held thru this raping. I am sorry to vent so much but I am really stupid here. I have a feeling I am not alone on this blog though.

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

    Why I have a tough time getting long….Granted this is the 15min but it's equally silly on all time frames.

    http://www.screencast.com/users/lostillini/fold

  • http://implicittrading.blogspot.com/ BalaB

    Try maintaining the trend of a 15min and 60min and look for entries on 5 or 10min. Lets see how this works for now. Watch Zero too.

  • http://www.jackbridges.com rocker_jdb

    Frustration, sure. Fear, I'm not afraid of watching my family's hard assets appreciate like crazy in relation to toilet paper currencies; I'm afraid for middle-class people who are at the mercy of the ankle-grabbing casino for their retirement money, etc.

    I'm just a little peeved at having to hedge, re-hedge, un-hedge every stinking week.

    You're right though, Mole: This sort of sentiment is what brings about crashes. Eventually.

  • C.C. Rider

    IMO bears are trapped in here waiting for lower prices to cover. Ain't gonna happen, and the melt will surprise and take down the biggest , baddest bears. When that happens, go short. Crowd psychology at it's best!

  • BearsRus

    Got some OTM FAS July put orders in play.. hopefully the VIX drops to my 28.20 target FTD and I get filled on those orders..
    I'm expecting to sell those at major % gains before expiration..

  • http://implicittrading.blogspot.com/ BalaB

    Cool…

    re: GLD – Laugh Snicker Snort….you never give up do you…? SNICKER

    btw, NT is becoming very quickly my charting preference. I may have to say goodbye to TOS.

  • mrclam

    I capitulated this morning. Took a 10% hit to my book between yesterday and today. Only short CMTL now.

  • GoCougs

    QQQQ's came close to the November high of $34.52 and turned away, looking for a re-test this afternoon. I am still holding shorts here.

  • Count_de_Monee

    I agree. I see bears throwing in the towel everywhere. I'm now net short.
    Sub 900 or bust, baby.

  • http://www.hotoptionbabe.com annamall

    Thanks for the chart alpha, at this point I totally agree.

  • waw4

    The Vix may be bouncing off a trend line drawn from its May & August 2008 lows. There's another lower trendline (currently @22.50) drawn off its Dec 2006 & May 2008 lows. -Bill

  • http://evilspeculator.com molecool

    Comment count is low today – seems like everyone is taking it up the rectum. Guess it's time to grab breakfast as I seemingly am talking to myself.

  • Squidman

    Wrong again; you are truly outstanding on this blog. Chapter 2, first 4 words please?

  • Skates

    Nope, saved the gun powder and definitely used the KY for the ride up…

    BTW, I saw some Bears popping Levitra so hopefully we get a happy ending soon enough!

  • lester

    Qs have pulled back to bottom of two day trend line. Thinking to close my Puts. I would go long, but my funds will not settle until tomorrow, so I basically cannot do anything today.

  • http://etfstocks.typepad.com/markets/ Royal With Cheese

    Frustrated to say the least.. I feel like climbing the Eiffel Tower and throwing my desktop !!
    Regarding fear .. i have none ! Born in Beirut !! 😀

  • C.C. Rider
  • http://evilspeculator.com molecool

    ¤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„¸

    Not that you guys deserve it…

  • innatedc

    Yep quick scalp on the SPY and out….waiting now….

  • IamSMRT

    TRHGTRHTRH

  • IamSMRT

    Deficits just don't seem to matter anyone. Stocks keep surging no mutter how much money the fed is printing. All we need to do is make sure we keep buying. This may seem irrational and nonsensical, but that's just the way things are, and there is NOTHING you can do about it but GO LONG and BUY stocks to MAKE MONEY from the inevitable transition to a TYPE 1 civilization run by The Creators of The New World Order.

    To be honest, I am long stocks, but I wouldn't mind the market falling to LESSEN the power grip of the future overlords of humanity.

    The stock market keeps going higher

    fINANCIAL CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    TGTHTRHTR

  • IamSMRT

    The stock market keeps going higher

    fINANCIAL CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    The stock market keeps going higher

    financial CRISIS MAY BE OVER ACCORDING TO EXPERTS

    http://www.bloomberg.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home

  • IamSMRT

    FINANCIAL CRISIS HAS BEEN FIXED

    No one who reads this blog makes any money following Tim's advice. The charts are worthless. They are quality charts rendered by a sophisticated software, but they are worthless with regards to making money ( and isn't that the whole point of the stock market)? Long lines, shade in,s trends, all crapolla.

    dow 14000 soon according to experts

    http://www.screencast.com/apps/news?pid=20601087&sid=ajgUp7xQIn6c&refer=home