RIP Orange Waldo

11:08am EDT: I have very sad news for you rats. Orange Waldo was hit by a stream roller this morning and passed away around 9:30am, relenting to his horrific injuries which among others included an in-grown toe nail, a paper cut on his right index finger, and complications arising from permanent blue balls and internal bleeding caused by looking at Annamall’s bikini shots . RIP, Orange Waldo – you will be missed by a legion of stop swept bears.

See, I told you rats – we’ll know fairly soon which way the pendulum will swing – nothing to worry about. Of course the smoking crater in my account right now would strongly disagree – LOL 🙂

I actually slept in this morning as I expected a monster stop sweep this morning. What I didn’t expect was a drop beforehand – and that downside gap was just too delicious for the Goldman boys to pass up. So, I just rolled out of bed a few minutes ago and loaded up on more puts around 905. If we push to 915 I’m cooked of course but that’s how the game is played – no balls no babies. When the moment arrives you have to make your bet – in spite of all your emotions.

Fade the news rats – fade the news – they do not matter and are only rationalizations for tape that already happened.

11:52am EDT: Boy oh boy – breadth ratio on the SPX right now is 11:1 advancing issues – on the NDX it’s 46:1 – yes, that’s NOT a type, C.C. Rider. I must be loco to go short here. Have a feeling my asshole is going to hurt tomorrow – and not in a good way.

12:30pm EDT: I like IYR right here:

Stop at 33.75ish. And yes, I prefer IYR over SRS in this case.

2:00pm EDT: SPX breadth now 20:1 advancing – nasty!! Yes, I’m still short and will remain so – I think this is nothing but a monster bear squeeze.