Thursday Night Quick Chart

Before I turn in I wanted to quickly post an update on the wave count – not much however has changed since this afternoon:

I think this map is pretty much self explanatory – I have little doubt that the bulltards won’t simply give up now and let this thing slide – after all there was perfectly good POMO cash being thrown into the tape just before the close. While I’m on that subject, we do have another POMO auction on the 8th – which conveniently is the first trading day of next week – so, chanced are we’re going to see 1015 and most likely 1020, just as I suggested two days ago. Frankly, a continued drop here is actually what would be a surprise to me as in the minds of most market participants this is business as usual and nothing but a dip buying opportunity.

Of course I will use any further drops in option premiums – artificially induced or due to a meaningful rally – for my own devious long term scheme for market domination. Via the motto of this blog – one nefarious trade at a time 😉 You know the drill by now – not going to repeat myself ad nauseum.

9:30am EDT: Seems disqus has experienced a complete system outage for several hours now – those guys are NOT ready for prime time yet and if these problems continue I will be forced to implement a competing comment system.

Having been a system engineer for well over a decade I am extremely annoyed by their feature driven approach to software development. It seems that a one week beta test was sufficient for them, after which the new release was pushed out of the door. Could it be that they are being rushed to market by their investors or marketing folks? Guys, your current software release cycle is going to kill you – just a matter of time until a competitor emerges who is capable of delivering a stable product.

I am not amused and disqus is living on borrowed time.