Stainless steel rats all over the world can rejoice – for Mole is going on a little day trip tomorrow. In case you’re not getting the joke: Word has it that every time I leave somehow equities tank – it’s roughly a 2:1 ratio. Well, I hope this time won’t be an exception and we’ll see a little plunge tomorrow. In the market that is – let’s avoid a repeat of the little ‘incident’ that occurred last time I took the train to San Diego.
I swear – it wasn’t my fault – I slipped on a banana peel and fell on the ‘steam forward’ lever. Ahem…
See, it’s always about the follow through – be this in golf, tennis, baseball, or after a nasty Fed induced ramp in the markets.
Except that there was none today and the bulls found themselves in a sand trap. Which puts the odds back in the camp of the bears – thus far 😉 [amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. The rest of you guys will have to wait until tomorrow – sorry. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your [...]
The clash of the titans is upon us. Make no mistake – it’s make or break time for the bears as they are running out of time as well as wave sub divisions here. Emotionally everyone has been ripped to pieces, but from a technical perspective things could not be much clearer. Either the bears close the deal right here and now or they will be squashed and again be relegated to watching the bulls take their lunch money and fuck their prom queen.
The financial establishment is fighting for its survival – with tooth and nails – as it has been for the past two years. They have used every trick in the book and some unprecedented ones that hadn’t been [...]
This morning’s gyrations produced a bear trap of biblical proportions. I can only imagine how many grizzlies rejoiced when the former low of 1039.83 was breached by 13 cents – just to then having to watch their legs being chopped in a matter of minutes. I can’t help but admire such an evil setup. I hope you all were watching the Zero as it continued to be extremely skeptical throughout the entire morning drop.
The most meaningful chart for me is one I presented a few days ago:
You don’t have to be a master chartist to imagine how this may be a bad situation for the bears. Not only did we bounce at that 25% channel line again [...]