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A New Era Emerges
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A New Era Emerges

by The MoleSeptember 25, 2009

The Ministry of Corporate Welfare has made its intentions clear by consistently supporting the needs of the few at the detriment of the needs of the many.

However, the course of history has already been decided – even our puppet masters cannot avoid the inevitable. Are you prepared – or are you leaving it to others to decide your future? Do you seriously believe that the mass hijacking of minds remains relegated only to the realms of science fiction or Japanese anime? Just take a look at your favorite index chart for an unmistakable example of mass self delusion based on a perception of reality that does not exist.

I thought what I’d do was, I’d pretend I was one of those deaf-mutes.


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 the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

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  • kokoro33

    they're about to be exposed

    soon

  • PRSGuitars

    http://traderfeed.blogspot.com/2009/09/dollar-a

    /DX adjusted SPX is right under our noses…and yet nobody says anything.

  • http://www.cafes.net poisonfrog

    I think the dollars rise will get stuck at 78, and the carry trade may start again. Watch for a rebound in the S&P at this point.

  • harveydent

    well im drinking pelligrino out of a riedel glass, i had a bad night.
    anyway with blackberry's bad news lets get SnP at 1040 and then i can i sell my puts.
    From there, its 1125 straight up.
    I'm tired of this economy. It's full of shit.
    What a great time to be graduating in the spring….can't f'ing wait.

  • K.I.M.

    so let's see if it stays in a channel on 15min SPX. this would be 4 then and still 5 down to follow, will try to short it with SL

  • CorporalCarrot

    Whats the concensus folks? Will this bounce in the futures fade?

    I can't believe that with RIMM disappointing, and it being a Friday, with many not wanting to carry positions over the weekend, that there won't be some point today when all three indices will be negative.?

  • CorporalCarrot

    Shorted more Dow at 9,729 and FTSE at 5,099 and 5,104.

  • Stainless_Steel_Hamster

    Hell, I've been saying that (but I use gold adjusted s&p) since day one. a couple of days ago I posted some charts

    see the first, green is nominal s&p, red is gold, blue is s&p over gold http://www.largeimagehost.com/gallerys/untilted

  • Road_Kill

    <Repost>

    Hey CC I guess I can keep you company I am over here in Dubai and waiting for everyone to wake up too. Looks like Europe is off its lows and US futs are doing well. I don't think there is much downside left here but of course I could be wrong. Just keep an eye on the econ reports today this market will look for an excuse to rocket up after the last few days of selling.

  • CorporalCarrot

    Durable goods at 8.30 will be interesting. The fact that the last CPI release disappointed on the Capital Investment side means this is setting up for a potential disappointment.

  • Carl V

    Hello there. I think you might like the attached ESZ9 (emini 500 Dec09) chart: it shows the MIDAS line launched at the Jul 9 major low. You can see how the price found support 2 times in August and early Sept on this midas line, then a last time 2 days ago, with a brief battle then the price plunged below the line for the first time and stayed there for 6 hourly bars alreaday. The midas line is now broken which means a new trend has begun. It also means the this midas line is now a resistance area, currently at 1053.50. So I don't expect a reaction above this level. I have thus drawn a new midas from the last top (difficult to see on this chart though). If you are interested I can show you another chart: a monthly chart from 1930. For the first time ever, the midas line drawn from “then” was broken last year. It tells a lot.
    http://screencast.com/t/VIsgolZwOXXx

    Take care,
    Carl

  • Road_Kill

    It all depends on how tied to fundamentals the market decides to become. So far it has been completely detached from reality. From a fundamental perspective we should go lower but from a technical perspective I think that at most we will hit the rising trendline on the SPX at about 140 and bounce. Now how high is anyones guess.

  • Bankrupt

    Frankly I didn't find RIMM report that bad, that stock should selloff for 12%. Anyway, roughly 3% drop from the highs isnt enough to warrant a trend change. Not at least in the eyes of “buy the dips” investors.

  • CorporalCarrot

    I agree with you on the RIMM results, but I wonder does it point towards a major shift in sentiment.

    Back in July/August, the earnings/expectations bar was set so low, it was easy for companies to “beat”, and the market rallied on awful results.

    Now after a strong runup, with everyone talking about green shoots, expectations are much higher, which increases the risk of disappointment, so you will see companies falling on relatively decent results, simply because realisation sets in that the current market price is not justified.

  • Road_Kill

    You expecting any retracement today on that drop? I am debating going long a very small position here.

  • tradejane

    There's a song that goes along with that:

    http://www.youtube.com/watch?v=t7ItXbAIQ5U

    So, I've got my bounce – lets see if I get the drop too.

  • Bankrupt

    bear in mind that the stockmarket defies what we call reality. rimm was probably overdue for the correction anyway (hence the big drop). and when panic starts, who knows where it ends. I am very bad at forecasting lately, so I am not expecting anything. If you play it small you can probably get out fast enough for limited cost, so why not…

  • gmak

    A couple of comments first about the flavour of this board, and then the warm up will come later.

    Here's to Keirsten, of the warrior trader spirit, of whom the image of her at 5' 9″ in 4 inch heels, laying waste to the trading pits of NY and CHI, is indeliblly stamped on my brain πŸ™‚

    Here's to Anna. When celebrities are asked the twit question “If you could be an animal, what kind of animal would you be?”, they should answer:
    Anamall, whose zest for life and trading makes for infectious good humour, and who always has a kind or insightful comment to make.

    Here's to MoleCool (“If you could be any molecule, what…” – oh never mind!). Many just don't appreciate how difficult it is to balance being an inventor, an entrepreneur, and a trader – all the while trying to be a human being (it's so tough that you get reduced to being a rat, it seems). Kudos, Mole!

    I raise my glass to you all, and to all the participants on this board.

    Without taking away from the above 3 individuals, I would have to say that the Banting moment was the release of the Disqus streaming comment feature that gave us all the personality of a chat room, with the context at the click of a “refresh”. This, I believe, is what is making this board fun, interesting, and useful.

    Pre-market in another post.

    Cheers.

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning Bank, doesn't matter, not that bad now isn't good enough for the street. they also guided down, and when that happens and the stock had been at a 52 week high, well the recipe is to clean their clock. :)))

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey Harvey! In the morning?? You should be jubilent about your Rimm puts. I know I am not happy to see the SPX fut up, but with fair value, it's about flat. The dollar is going down again and that is the main reason. πŸ™‚
    Now for some coffee/w Bailys! LOL

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning Gmak, πŸ™‚ so true and guess who twisted Mole's arm to get that feature??? :-))))

  • Iguanadon

    Yes I'm a lazy bum and don't want to search for it… Anybody know off the top of their heads what the timeframe was for RIMM's quarter? Was it the typical April/May/June and they simply report really late each quarter or are they on an odd fiscal calendar that runs June/July/August or something like that?

  • https://www.evilspeculator.com/annamall%20 annamall

    Iggy to be honest I don't know πŸ™‚

  • Iguanadon

    Found it on an old release… “reported results for the three months and fiscal year ended February 28, 2009”

    So their quarter that just ended was for June/July/August.

    So that may be part of the reason why they got hammered so hard is that the results are for a more recent time period showing that things haven't gotten much better since the traditional 2nd quarter timeframe of April/May/June.

    Thanks Iggy.
    You're welcome Iggy.

  • reddragonleo

    Good morning to all you rats… and ladies of course!

  • down_town

    Wow this is out there. You smoking something last night or have I just lost my head?

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning handsome RED!

  • https://www.evilspeculator.com/annamall%20 annamall

    You kill me!!! do you also have Adult A.D.D as I do? hehehehe

  • gmak

    Pre-Market warm up

    G20, and the USD /DXY.
    If I were Timmay, I think it would be a lot easier to scarf down my foie gras if the 19 other people at my lunch table weren't on the cell phone with thugs plotting to rough me up in an alley. The easiest way to bring the smiles would be to use my control over the liquidity valve and boost the buck a bit. It shouldn't be too hard since those other 19 Treasurers would be only too happy to co-operate in this.

    If I wanted to send a message, then I would put on the brakes and let the buck fall again. After all, I am Timmay, and I'm tired of the press and the other FCBs seeing me as a small-penis whipping boy with a currency in its dotage.

    Besides, I would just cut off the supply of nutrients to my pet monsters (GS, JPM et al) pulling the market up over obstacles, in order to let markets down a bit. I don't have to worry about a crash. All those techies, wavers, and chartists with their crayon lines (forgetting that the market drives the chart, and not the other way around) will ease off since we are near inflection points.

    Enough on that.

    Equity
    Asia was red, except Oz, and Taiwan in the biggies. Shangha was down 0.52% – is it the tail of the US dog, or simply the result of systemic liquidity reductions that reduce the supply of dollars as well?
    Europe is mainly green – DAX is borderline red, FSTE is up over 1/2%

    FX
    Be careful with USD longs. I don't know if Timmay et al needs to push the USD up two days in a row to make a point to the G20.
    DXY is down 20 bps. CAD is mildly down. JPY is way up – movement away from risk. (Hope you were out of your scalp Anna.)
    EUR is up and GBP is down – we have the opposite of yesterday.

    NEWS
    G20 blah blah blah.
    More noise about taking away stimulus measures – attributed to YEN and Bond strength (I see the evil hand of Timmay at work here).
    RIMM tanks (wheeeeeee for Anna)
    FED will now only blow $11.6 trillion on rescue tab.
    Merkel's less tax and regulation strategy in danger according to pre-election polls.

    Data
    8:30 Durable goods: 0.4% exp vs 5.1% prev revised up. Look for a market pop if this number clears that incredibly low hurdle. Look for doom, gloom, and despair if it's negative. heh (doubt it though).
    10AM Mich. confidence: Expected to be basically unchanged – backward looking number anyway and depends on the actual day the survey was taken.
    New home sales: 440K exp vs 433K previous. If this is the case, then smaller homes are catching on.
    New home sales MoM: 1.6% vs 9.6% – a useless number since we all know sales drop in August. YoY is always a better measure of what is happening.

    SPX
    TD range projection just squeeked in with a close of 1050.78 versus a range low of 1050.75. THat makes it 6 out of 9. Today's range looks to be lower with 1038 – 1058.53; The tolerancs are somewhere within that range but I won't be able to give the TD quick summary until the markets open.

    We are forming wave 4 of 5 up (or Wave 1 of 5 down);Need to get to 1018.67 for this to be confrmed. This value will go up day by day given TD's propensity to use the low for the previous 13 bars. So at some point, wave 4 (or wave 1) will be in by default,, even if we move sideways from here. That target of 1135 for the wave 3 went off the table due to yesterday, but could come back if we don't put in that wave 4.

    ES
    ES has been in a slightly upward sloping channel (10 min basis) all night. We are getting near the neutral pivot – which was already bumped into once in the early AM. Pivot points:

    R2: 1072.75
    R1: 1058.50 – Note: If we get past 1062, close above, retrace next bar, then move back above – this will be very, very bullish. It's a TD SELL setup limit that if exceeded suggests “to the moon, Alice”.
    Neutral: 1049.75 – Hit once AH. getting near it again. Looks like there are a number of technical barriers to moving up around this level
    S1: 1035.50 – the mythical number from many of yesterday and -week posts.
    S2: 1026.75: A bear's wet dream, right now.

    1043.25 is a magical TD number for the BUY setup count (when price is falling). It acts as either support (most often) or if closed below, with a retrace, then another close below again – acts as a signal that momentum is increasing.

    Can't think of anything else. Don't know WTF down_town is talking about. Be very leery of games with the USD today. I would expect that it would be strong in the face of the G20 meeting, but if Timmay wants to send a message that the US is nobodies dog…….

    Cheers.

  • reddragonleo

    I'm different then most men… don't know if it's ADD?

  • https://www.evilspeculator.com/annamall%20 annamall

    Good stuff as usual Gmak did you see my response to you below? πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    hahahaha! you have wings to fly

  • gmak

    Thanks Carl! Interesting line in the sand at 1053.50; It would be a good place for protective stops, I guess.

  • reddragonleo

    Well, I am a scifi fan, so of course I can fly!

  • Iguanadon

    I think I'm developing AADD. πŸ™‚

    Must be from hanging out here. LOL

  • gmak

    Yep. I kind of figured…….

  • reddragonleo

    The ladies are distracting… aren't they?

  • http://snpmonster.blogspot.com/ SnPMonster

    Good morning everybody, congrats to you gutsy put buyers for RIMM….Sometimes I just wonder why RIMM is this badly mistreated compared to AAPL..lol

  • reddragonleo

    I think we'll touch 1038-1040 today, then rally next week.

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning SnP! πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    heheheheh!

  • http://snpmonster.blogspot.com/ SnPMonster

    Morning anna! πŸ˜‰

  • ckeltner

    R1: 1058.50 – Note: If we get past 1062, close above, retrace next bar, then move back above – this will be very, very bullish. It's a TD SELL setup limit that if exceeded suggests “to the moon, Alice”.
    ——————–
    What timeframe are you talking about when you say close above, retrace and hold?

  • http://trading-to-win.com/ DavidDT

    9/25/2009
    Futures approx. BO
    Daily Range Projection Low High
    /ES 1044.5 1052.25
    SPX 1038.09 1058.53
    /NQ 1696.5 1710.25
    NDX 1686.11 1722.34

    courtesy of trading-to-win.com and village idiot DavidDT

  • Iguanadon

    Good morning David,

    Is there a typo in the /ES and SPX? Only an 8 point range for ES but a 20 point range for SPX?

  • ReturnFreeRisk

    Good Morning,
    A Dissent at the Fed? Or a plant by Bernanke? sounds like the era of free money for the bulls is more limited than they think.

    Kevin Warsh writes in the WSJ – The Fed's Job Is Only Half Over

    “Whatever it takes” is said by some to be the maxim that marked the battle of the last year. But, it cannot be an asymmetric mantra, trotted out only during times of deep economic and financial distress, and discarded when the cycle turns. If “whatever it takes” was appropriate to arrest the panic, the refrain might turn out to be equally necessary at a stage during the recovery to ensure the Federal Reserve's institutional credibility. The asymmetric application of policy ultimately could cause the innovative policy approaches introduced in the past couple of years to lose their standing as valuable additions in the arsenal of central bankers.

  • z12run

    I'm trying to get my head around the term “lottery pick” when it comes to stocks and was wondering if this would have qualified as a lottery pick:

    http://finance.yahoo.com/q/hp?s=VRMLQ.PK&a=08&b

  • down_town

    Don't know but apple is a leader been leading since 1984. RIMM makes a product that is useful no doubt but the vision of Apple I don't think so.

  • http://trading-to-win.com/ DavidDT

    correction – I am only on my 3rd cup of coffee πŸ™
    9/25/2009
    Futures approx. BO
    Daily Range Projection Low High
    /ES 1030.75 1054
    SPX 1038.09 1058.53
    /NQ 1677 1717.75
    NDX 1686.11 1722.34

  • ckeltner

    Love the avatar, was recently thinking of changing mine to a dragon since I doubt anyone gets my avatar (Final Fantasy – PS2) but looks like I'll have to find something else, or at least a different version.

    I am a huge fantasy fan, dragons, elves and orcs oh my. Its actually renne time so I need to break out my stuff and go hit one of the local ones soon.

  • Stainless_Steel_Hamster

    does it mean you also see 4 topping at most in the 1055-1056, then droping to 1035 (monday) and then a w2 retesting 1055?

    Are you already at your chat?

  • http://snpmonster.blogspot.com/ SnPMonster

    RIMM is a nice stock to play a strangle….something like MON. On earnings

  • reddragonleo

    It took some time to find the dragon that I wanted on the internet, and then edit out the background with Photoshop. Search around and find something you like, and email it to me. I'll remove the background and edit it to your liking.

  • gmak

    My ES chart is a 10 min chart So it would be 10 min bars. Check with DavidDT if my algorithm is correct about the going below, retrace, and then dropping again.

    Also, the momentum down is enhanced if ES is early in its setup count or in a Countdown count (when trend has already been established and now we get seller exhaustion coming in).

  • gmak

    A lottery pick is any low-priced instrument (including OTM options) where you don't mind losing the money. It usually has a long-shot event that might happen and sky-rocket the price – leading to huge gains. Hence the “lottery ticket” name.

  • http://trading-to-win.com/ DavidDT

    what timeframe? (it pretty much does not matter – hourly in unconfirmed abc, might print A by midday – going to be volatile day I guess)
    chat – yes

  • centerline

    Morning all.

    Looking for 1040-ish today on SPX. Still have a few short term OCT SPY puts to unload. Will assess at that level for short term long or continued short. Still long term short (DEC and MAR puts).

    For those who shorted RIMM before the close yesterday… I am so jealous!! Holy cow. Nice job. DId someone watch Cramer last night to see what he said? Surely someone had to of called in.

  • reddragonleo

    He must have said “Go Long”, so everyone went short! LOL! What a loser! I'm looking for 1040 today too centerline.

  • Road_Kill

    Wow something broke again

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    Morning all. For those with children I post this… don't mean to be distracting but the kiddies have to come first… Have a great day everyone!

    NEW YORK (AP) — Johnson & Johnson's McNeil unit said Thursday it is voluntarily recalling 57 lots of infants' and children's liquid Tylenol products because of possible bacterial contamination.

    The products being recalled were made between April and June and include nearly two dozen varieties, including Children's Tylenol Suspension 4 oz. Grape, Infants' Tylenol Grape Suspension Drops 1/4 oz. and Children's Tylenol Plus Cold/Allergy 4 oz. Bubble Gum.

    Johnson & Johnson said it has contacted wholesalers and retailers about the recall. An inactive ingredient didn't meet internal testing requirements, the company said, and B. cepacia bacteria were detected in a portion of raw material that went unused in the finished product.

    The company said in a letter that no bacteria were found in the finished product, and that the likelihood of a serious medical event is remote. However, in consultation with the Food and Drug Administration, the company decided to recall the products.

    “It was decided, as a precaution, to recall all product that utilized any of the raw material manufactured at the same time as the raw material that tested positive for the bacteria,” the company said.

    Consumers with questions should call McNeil's consumer call center at 1-800-962-5357. A full list of the 21 recalled products and their lot numbers can be seen at: http://www.tylenol.com/page.jhtml?idtylenol/new

    Consumers can find lot numbers on the bottom of the product's box and on the sticker that surrounds the product's bottle

  • Iguanadon

    Durable Goods bad number released.

  • gmak

    Durable goods were horrible. Let the abyss begin!

    Don't know why this is bullish for the USD – but party on! Play the tape you're given…..

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning Center! nice to see you this morning!
    Looks like we have some nice red on the screen and yea I am pretty thrilled with my RIMM short Trade :))

  • hepatologist

    Where did the bulls go?

    Tim Knight and Atilla agree less up and more down…
    cnbc and bloomberg say down…
    cobra calls a top…

    http://noxtrends.blogspot.com/

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    Durable goods numbers weak

  • ReturnFreeRisk

    Dur goods. Aw! green shoots?

  • https://www.evilspeculator.com/annamall%20 annamall

    oh yea, just went long USD/JPY and overnight was the opposite for a nice 100 pips

  • centerline

    All I can say is that I sincerely hope it plays nice and you get the max return on those spreads.

  • Styrfart

    Morning!?, it's afternoon, here – sunny! and we are going down! πŸ™‚

  • Road_Kill

    GM anna how are you today

  • https://www.evilspeculator.com/annamall%20 annamall

    thanks so much you cute Muppet! :)))

  • https://www.evilspeculator.com/annamall%20 annamall

    Good morning Road, I am awesome and you? πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey gang, anyone else that is short RIMM i am looking for 70 as the support to hit today or close to it!

  • Road_Kill

    Doing great, my ES short is very happy. Went long a very small amount of RIMM at 72.

  • Turbodrive

    Thank god it's friday and as you say Styrfart, were goin DOWN πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    awesome! careful I think RIMM will hit 70 before it really bounces πŸ™‚

  • Road_Kill

    Might be right thats why I took only 300 shares just to feel part of the action. Must feed the junkie.

  • https://www.evilspeculator.com/annamall%20 annamall

    G/L sweetie! πŸ™‚

  • Road_Kill

    You thinking 70 or 68.5 at S1?

  • http://iberianviews.blogspot.com/ catracho

    is the “green shoots” illusion ending..?? If it is…then bulls beware!

  • https://www.evilspeculator.com/annamall%20 annamall

    Good morning over dare Stryfart! :)))

  • Road_Kill

    The only green shoots were from the cannabis plants the bulls were smoking.

  • 0wl

    the new term is “icicles”

  • Road_Kill

    If this one report did this I wonder whats going to happen when the rest come out today.

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    look at the 3 rd chart in this post… eco surprise indices rolling over… poor bulls

  • http://alwaysanothertrade.blogspot.com/ dire_wolf
  • z12run

    Since the existing homes sales were weak yesterday, does it follow that new home sales will be weak today?

  • Turbodrive

    Hehehehe πŸ™‚

  • Styrfart

    Good Morning, Mole's Angel! πŸ™‚ I need, Sthlm omx30 index fall bellow 900! Pls give it the “kiss of death” πŸ™‚

  • http://eminitrends.blogspot.com/ T. Waffle

    I am so damn happy for you. damn girl 15G profit by investing 5G i am speechless but really happy for you.

    great work

  • http://snpmonster.blogspot.com/ SnPMonster

    AAPL is on the brink…watch for bounce or breakdown to next level.

  • blues

    “Just take a look at your favorite index chart for an unmistakable example of mass self delusion based on a perception of reality that does not exist.”

    No, I don't think “mass” is the one who pushed this market up… it is those of fu**ing (sorry Anna I just have to say it, I hate those banks so much) banks who took our tax money and push this market all the way up so they can 1. Make money while doing so (make money from people who kept on shorting) and 2. they can unload the crap that they bought before the 2008 drop. While they charge us high interest rate (while get no interest from FED) and all sort of other crap (like overdraft fee)… And yet government just keep on giving them money! Gee…

  • reddragonleo

    Let's have a public hanging of the banksters! I'll pull the lever.

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

    i'll put my request in for a breakdown, i have a ton of puts on AAPL

  • http://twojackstrading.blogspot.com TwoJacks

    good morning everyone.
    durable goods down I see.
    Get used to this phrase – “below expectations.”

  • Road_Kill

    Well that trendline held up on the ES at 140 and we bounced. Lets see if the regular hours bears take it out or are we going up from here. I unloaded all but one ES contract at 141 and waiting to see if I go long or short.

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

    cash markets did not complete wave ii yesterday, so there should be a c leg up this morning, we'll see. hell we have our pinko pres acting like a hawk in the face of increased intelligence that another 9/11 is being planned and may happen soon here in the US

  • Iguanadon

    I'm a bear!

    But… RIMM issues bad earnings and gets absolutely hammered and the Durable Goods number was piss poor.

    However SPY is down less than .5% and QQQQ down less than .75%

    Would have expected a worse look in the premarket.

    Just sayin'…

  • http://snpmonster.blogspot.com/ SnPMonster

    So whats your exit target…?

  • Styrfart

    Still need 900 to give in!!!!

  • Joe8888

    call now

  • dollar

    Good Morning everyone, it looks like it's going to be another beautiful day: Futures dive after big miss on durable goods orders. Dow now -0.2%. S&P -0.3% at 1041. Futures were carrying modest gains going into the number.

  • Road_Kill

    Convenient that we might have a terrorist attack just in time before the economy and market crashes. Then we can blame it on someone else, get the military machine going and pull ourselves out of it all better again. Hey if it worked before it should work now.

  • dollar

    right – reality asserts itself

  • dollar

    yeah but get the military machine going where? you can't have the big war solution with random bands of terrorists, especially if they're here! besides the defense budget is on the cutting block…

  • Road_Kill

    I agree totally dollar, your supposed to not be able to go to war against terrorist because they are not part f any state. But that hasn't stopped them the last 10 years. I expect this will probably somehow be tied to Iran since thats the next target in the Caspian campaign.

  • reddragonleo

    It would be nice if they would catch those terrorist ahead of time… but them they might have to arrest themselves!

  • Road_Kill

    LOL! Now I know why I like dragons.

  • flyboy08

    I'm with you bro!

  • Turbodrive

    Dont worry it will πŸ˜‰
    But I want 888 or something like that today, so I can relax on my holiday πŸ˜‰

  • Osso

    yes….best post of the year !!!!!

  • https://www.evilspeculator.com/annamall%20 annamall

    Can I help??? πŸ™‚

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

    i think wave 1 might take it to 145, but i'll count 5 waves down and get out for wave 2

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning Alpha, sheesh I was just going to post about that crap. πŸ™‚

  • dollar

    I'm not saying you're not supposed to, it just doesn't work sending a 100,000 man army after random groups of 10 guys all over the world including maybe Toledo and Milwaukee – so you can't gear up the big “war machine”

  • reddragonleo

    Osso said that was the best post of the year, but I think the one of your behind was better! LOL!

  • blues

    And we may even get a positive close today! πŸ™‚ C'mon push this market up!

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

    If they let Maxine Waters get some tv time, wave iii here we come

  • blues

    Ya, You wish, I think if that's the case, there will be hundreds of thousands of people want to fight for that position… πŸ™‚

  • dollar

    ay, she's a piece of work

  • http://snpmonster.blogspot.com/ SnPMonster

    Bribe them….nobody dies!

  • Stainless_Steel_Hamster

    get this man a tinfoil hat (bought mine yesterday on reply to alphahorn)

  • Road_Kill

    I got one for everyday of the week. Just let me know if you need to borrow one.

  • Mr_Lahey
  • https://www.evilspeculator.com/annamall%20 annamall

    shhhhsshhh I will have to buy the whole blog dinner πŸ™‚

  • http://snpmonster.blogspot.com/ SnPMonster

    Who..lala….you are a super bear…hang in there….lol

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

    well, we left off on wave ii correction up under the bearish count, and it didn't finish, a up was in, b down almost, then due a c leg up. doesn't look like more than a 38% retracement if that much though

  • dollar

    Morning Anna, do I see the dollar approaching yeaterday's highs?

  • https://www.evilspeculator.com/annamall%20 annamall

    Blues morning Oh absolutely! I couldn't agree more and you don't have to be shy about it. We should hang them from their gonads!

  • https://www.evilspeculator.com/annamall%20 annamall

    It was awesome! You are so creative! sweet! πŸ™‚

  • dollar

    Preview of New Home Sales?: KB Home (KBH): FQ3 EPS of -$0.87 misses by $0.29. Revenue of $458M (-32.7%) in-line. Deliveries fell 20% to 2,788. Prices fell 15% to $202,800. Net orders increased 62% to 2,158. Cancellation rate improved to 27% from 51% a year ago. Shares -6% premarket.

  • https://www.evilspeculator.com/annamall%20 annamall

    ROTFLMBO!!!!!!!!!!!!!

  • http://snpmonster.blogspot.com/ SnPMonster

    IYR is looking quite bearish…

  • dollar

    What a morning!: The level of losses from syndicated loans facing financial institutions tripled to $53B in 2009, due to poor underwriting standards and the recession. Criticized assets rated 'special mention', 'substandard', 'doubtful' and 'loss', hit a massive $642B, or about 22.3% of the total, vs. 13.4% a year ago.

  • Stainless_Steel_Hamster

    My tinfoil hat collection is only comparable to Imelda Marcos shoes…

    Did you see what I replied to alpha yesterday?

    It goes even deeper if you want crazy theories ( not to be taken seriouslly… and then again…)

  • blues

    Wow, you women sure can think ways to torture us men! haha! πŸ™‚ NOw I like that! Hang them once from bottom and then top! πŸ™‚

  • Bricks

    We've oficially broken the daily ES trendline formed from 7/13 to 9/3. Next support is horizontal around 1030ish. I'm expecting a retracement to this trendline then some chop-n-drop.

  • https://www.evilspeculator.com/annamall%20 annamall

    Morning Dollar! come on Dollar!!! the green one too!

  • Road_Kill

    “My tinfoil hat collection is only comparable to Imelda Marcos shoes…”

    Impressive I think I detect a slight hint of jealousy in me. No iI didn't read the post but looks like it might have been amusing. Now you have me interested.

  • Styrfart

    not as sure as you're, but we will see! A brake of 891 according to Joe's is confirming the trend change.

  • dollar

    and in case the economic news wasn't enough: Officials tell AP Iran has second enrichment plant.
    VIENNA (AP) – Iran has revealed the existence of a secret uranium-enrichment plant, the International Atomic Energy Agency said Friday, a development that could heighten fears about Tehran's ability to produce a nuclear weapon and escalate its diplomatic confrontation with the West.

  • innatedc

    Morning gang….if we break 1040 decisively then I have 1025 as next target….

  • https://www.evilspeculator.com/annamall%20 annamall

    RIMM getting close to the 70 area as I mentioned yeeeh haaahhh

  • https://www.evilspeculator.com/annamall%20 annamall

    Hi Inna, yea lets break it baby!

  • innatedc

    You think Rimm goes after that huge gap between 49-59?

  • CorporalCarrot

    Weee just back from lunch and I see my call on the Durable goods was correct!!!!

    PRedictions for the low of today?

  • dollar

    I think it's no time to be a chickenhawk bear…

  • Road_Kill

    Maybe they also have those remote control terror planes that would wreak biological mayhem on American cities everywhere like Saddam allegedly had. So many smoking guns so little time.

  • http://snpmonster.blogspot.com/ SnPMonster

    I have never seen such a long red bar in my life….

  • https://www.evilspeculator.com/annamall%20 annamall

    Probably around 55 I think, it might bottom, could be wishful thinking πŸ™‚

  • Road_Kill

    DAMN YOU ANNAMALL…DAMN YOUUUUUUUU!!!!!!!

  • Styrfart

    Good call, read your comment, and was skeptic to it! I'm bad! πŸ™‚ What is your gut feel for Michigan

  • https://www.evilspeculator.com/annamall%20 annamall

    I told you! Road

  • http://www.hervey-bay-holiday.com kea11

    Nice name: You're making a come back – yee hah!

  • ReturnFreeRisk

    You are talking like I was talking last year. From your IM to God's ear. Your rock.

  • https://www.evilspeculator.com/annamall%20 annamall

    sweeeet!!!!!!!!!!

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey Return!! I am really hoping we break 1040 and go downnnnnnnnnnnnnnnnnn πŸ™‚

  • AS2009

    Awesome call on RIMM Anna – YAHOOOOOO !!

  • https://www.evilspeculator.com/annamall%20 annamall

    thanks girl, it may get a bounce around 70. If it breaks 70 watch out below πŸ™‚

  • Road_Kill

    Ehem…Bear trap…Ehem

  • https://www.evilspeculator.com/annamall%20 annamall

    watch for a break of 70 Road, if it breaks that support level then allot of air below. OK?

  • dollar

    I hear your skepticism but you're arguing past me, just saying the economics are not going to be like World War II. Whatever “they've” got, it's not a huge conventional army, whoever “they” are, if “they” ever turn up…

  • Road_Kill

    Thanks anna will do, I feel like a have my own guardian angel to balance my trading stupidity.

  • blues

    Positive close today even though all these bad news of RIMM and durable goods? πŸ™‚

  • Road_Kill

    I wasn't really arguing as much as agreeing (the joy of electronic chat). I sense we are both thinking the same thing one way or another.

  • ReturnFreeRisk

    This might be more important than people think. The time for being timid, hedging at every opportunity, blah blah is over. We did that for 6 months, survived, preserved capital. It is time to take the bull by the horns, stand by your convictions, put your money where your mouth is. This is what I did last year. That is what i plan to do now. Hence the change in my avatar. Did you not see me wearing the horns that I ripped off from a perma bull with my bare hands.:)

  • Road_Kill

    When the bears get too excited thats usually the best time to snap their nuts in a big trap.

  • http://snpmonster.blogspot.com/ SnPMonster

    Blackrock bought RIMM at an average of 71….

  • dollar

    k πŸ™‚

  • anthem

    You planning on holding beyond the first half hour ? Don't have a position but I think it might retrace a bit before it takes a plunge past 70. . .

  • Road_Kill

    THe magic moment doth quickly approach.

  • springheel_jack

    Doesn't look like there will be much of a gap to fill though.

  • Road_Kill

    Yeah they have been good about that lately.

  • dollar

    Anna – later, when you have time, please tell me how to avoid this relentless signing back in to Disqus, it's driving me nuts. I have gone to the Disqus homepage and signed out and in, but every15 seconds it's seems I have to resign in!!

  • TheMacroEconomist

    I'm sticking with last night's USO long going into the open in spite of the Durable Goods disappoint, mainly on the weakness in the dollar. As I suspected, UUP couldn't stay above its $22.90 resistance level this AM.

    I actually view the “headline” -2.4% of Durable Goods as a positive – since the July figure only got revised down from 5.1% to 4.9%. AIrcraft orders skewed that whole thing.

    The real miss was the 0.0% ex-Transportation…

  • Road_Kill

    LOL love the avatar.

  • springheel_jack

    I love four or five point gaps. Generally fill within a few minutes. Lowest risk returns of the day generally.

  • Road_Kill

    Yeah gap fills are great plays but they have been closing them before open lately. I remember 2007 when we would have the ES 50 point gap downs and everyone thought it was the end of the world only to close higher.

  • TheMacroEconomist

    For last night and today I switched to UAE President Sheikh Khalifa, estimated by Forbes to have a personal net worth of $23 billion largely thanks to oil. This after my 4 good trades in oil the past 2 weeks.

    I'm thinking I get burned today though, after my USO reverse to long afterhours yesterday. We'll see… πŸ˜‰

  • omelette

    Is Zero down?

  • Road_Kill

    LOL yeah thats why I find it so funny because I currently live in the UAE. Living large Mr Khalifa and hopefully yourself as well. Best of luck!

  • reddragonleo

    I have to do it too… but on on IE 6.0, (probably 7.0 too?). Since I have multiple computers and monitors, I use Google chrome and I don't have too re log back in. Also, Firefox doesn't require you to re log back in either.

  • innatedc

    Wells getting hammered…

  • dollar

    XLF cracked yesterday's low – FAZ looking good

  • https://www.evilspeculator.com/annamall%20 annamall

    No Omelette, mine is working πŸ™‚

  • Iguanadon

    Down 1.4%? Am I not seeing something?

  • https://www.evilspeculator.com/annamall%20 annamall

    Try using Google Chrome Dollar or someone said something about enabling 3rd party cookies ??? (iggy??)

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I think we're at a pivotal point here…….if it fails to break down then I think we're going to break much higher or vice verse

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

    it's amazing how many times wave iiis full ew counters to believe all v waves are in. that was wave v this morning now wave ii begins under the bearish count. watch the 50 RSI on the 15 min SPX, wave iis usually cross before wave iiis start

  • innatedc

    No real colour on it….

  • Osso

    transports lower low than yesterday..same for semis,….

  • https://www.evilspeculator.com/annamall%20 annamall

    Closed (finally) 2/3 of RIMM spread..whooooooooooo hooooooooooooooo

  • thelefteyeguy

    gap fill?

  • https://www.evilspeculator.com/annamall%20 annamall

    I think I am adding more spy puts here πŸ™‚

  • grasshack

    Zero not working?

  • https://www.evilspeculator.com/annamall%20 annamall

    Hi Left yea, I am adding spy 106's here

  • blues

    Well all the bad duration good drop is gone!

  • Road_Kill

    Might be a bit early anna.

  • https://www.evilspeculator.com/annamall%20 annamall

    Yea, glad I didn't do it yet
    πŸ™‚

  • blues

    Don't want to wait until 1057? back test of the broken neckline?

  • omelette

    Any idea why mine isn't updating?

  • dollar

    more TZA

  • https://www.evilspeculator.com/annamall%20 annamall

    I am trying to figure it out Omelette, will let you know πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    me too! πŸ™‚

  • grasshack

    mine isn't updating either –
    was working fine at the open

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    50 period RSI on 15 min? Thx

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    This 2 day drop may have been a 4th wave trap……break down, lure in the short and then break higher……

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    50 line probably… sorry

  • blues

    If you are short already, probably good idea wait until around 1057 (cash spx) to load up more… I bought some UPRO this morning on that initial dip but sold just a bit early… sold around 127.43

  • springheel_jack

    Morning Anna,

    It looks like the zero is down. Geronimo may be as well. πŸ™

    I wonder if Mole can fix it from where he is now?

  • http://twojackstrading.blogspot.com TwoJacks

    I think we're on our way to 1059 in the /es over the next few days. This will get the bulls all giddy that they've done it again, then the rug gets pulled out. Bears are waking

  • fuzzygreysocks

    Throw Momma Under the Bus : http://tinyurl.com/ydtelzx
    Stocks to short & put at SPX 1100 or probable 5 of C of P2

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey all, I have an email sent out to Eric to please help

  • https://www.evilspeculator.com/annamall%20 annamall

    thank you sweetie, πŸ™‚

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey all, I have an email sent out to Eric to please help ASAP :)))

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I think 1059 makes sense……..even if you coount this fall as a wave 1 down, 1059 only equates to a 38% retrace which is not unusual for a wave 2 retrace of wave 1

  • Road_Kill

    Watch the magic in the next 10 minutes. Consumer Sentiment then New home sales.

  • TomOfTheNorth

    Well I'm the President of the United States…..although I think I need to get my hair mowed……

  • ckeltner

    A correction? sure, it could be. A trap? A 40 pts drop is not a trap

  • springheel_jack

    More than likely.

    The question is though whether we have seen the bottom yet. I suspect not. We may be visiting 1040 soon.

    If the SPX makes it through into the 1020's, then the immediate bear scenario is for real.

  • Iguanadon

    Ch Ch Ch Ch CHIA!

  • blues

    Anyone have any reasoning as to why the DT broken neckline really feel like is at 1053 (cash spx) rather then where it suppose to be around 1057? Everytime we get close to 1053, market just couldn't break… even premarket ES stopped around there… weird… Any special meaning at 1053?

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    If so, it would mean we're in wave iv of wave 1 down right ?

  • https://www.evilspeculator.com/annamall%20 annamall

    whhhhhhhhhhhheeeeeeeeeeeeeeeeee

  • https://www.evilspeculator.com/annamall%20 annamall

    I also put a email/text to Mole about Zero too. (had to)

  • blues

    Although I guess I'm wrong? As stated below, why does the neck line feel like is at 1053 (cash spx) rather then at 1057? Rejection there yesterday today premarket ES and now! what so special about 1053?

  • springheel_jack

    Hey Anna. Do you think we've bottomed yet?

    I'm already buying calls but I'm expecting a bit more downside before any serious rises. What do you think sweetie?

    I'm looking for an entry at 1040 SPX or so with a panic button at 1030 if this goes the other way. πŸ™‚

  • Road_Kill

    Looks like consumers are happy.

  • springheel_jack

    Busy morning Anna. The posts look like a lot of work.

  • https://www.evilspeculator.com/annamall%20 annamall

    Geronimo fixed!

  • ReturnFreeRisk

    how does Umich get revised by3.5 pts for sep already?

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    new home sales due in a few minutes too

  • https://www.evilspeculator.com/annamall%20 annamall

    GERMONIO FIXED you should have gotten SMS ?? everyone???

  • z12run

    If the market drops, I suspect the sentiment will follow…

  • https://www.evilspeculator.com/annamall%20 annamall

    Hey Jack, havent hardly had a chance to check just yet, so busy, but I will…the damn dollar is down, so we may have bottomed sweetie. πŸ™‚

  • dollar

    From the Sept. issue of Marc Faber's The Gloom, Boom & Doom Report: “The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society.” I think we should invite Faber over here to party with us…

  • http://twojackstrading.blogspot.com TwoJacks

    just glanced at the dollar (/dx) and that scenario would serve to produce a nice ihs on the dollar also.

  • https://www.evilspeculator.com/annamall%20 annamall

    Zero should be working too let me know if still any problems πŸ™‚

  • springheel_jack

    I think so. We'd need to break 990 to be sure though.

    There is talk of an expanding triangle, so if we break down to the 970 – 990 level, we could still then fill the gap to 1099 & then make it to the 50% fib at 1121 before declining again.

  • moneyfarm

    Some potential long breakouts I'm watching:
    FINL
    EW (thin)

  • springheel_jack

    Well done Anna.

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    weak home sales….didn't manage to kill the market………..

  • https://www.evilspeculator.com/annamall%20 annamall

    thanks Jack, I am trading texting chatting blogging and on the phone sheesh talk about multitasking LOL

  • Road_Kill

    Remember its priced it or else we would be at S&P 1000000000

  • https://www.evilspeculator.com/annamall%20 annamall

    freaking dollar needs to go UP!!!!!!!!!!!!!!!

  • omelette

    still not seeing updates on my end Anna

  • Road_Kill

    NOOOOOO I need to reload!

  • unibummer

    Ditto, zero still not updating

  • Osso

    now that you have so many monitors….!!!

  • AudioTactics

    Looks like we're stuck in a range of 104.55 – 105.25 in SPY for now….

  • https://www.evilspeculator.com/annamall%20 annamall

    hahaha

  • https://www.evilspeculator.com/annamall%20 annamall

    Still working on Zero guys

  • http://snpmonster.blogspot.com/ SnPMonster

    IYR not reacting much to New Home Sales…

  • Road_Kill

    I need more dylithium crystals captain!

  • https://www.evilspeculator.com/annamall%20 annamall

    I need 12 more hands! πŸ™‚

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    Has no one warned you that you should stop sniffing dylithium ?!!

  • https://www.evilspeculator.com/annamall%20 annamall

    IN CONTACT WITH ERIC AND MOLE ABOUT ZERO AND GERONIMO

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    market wants to break higher

  • Road_Kill

    I can't even sniff that? I gave up sniffing super glue and white out a while back but I think the damage is done.

  • fuw

    Many thanks.

    We're addicted to the good stuff you know…

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I see it in your eyes …..

  • https://www.evilspeculator.com/annamall%20 annamall

    they are aware and working on it Fuw, πŸ™‚

  • Road_Kill

    And the bear trap slowly closes.

  • Trader_Steve

    Marc Faber on Bloomberg….mkt high for 2009 is probably in.

    Wasn't this guy a raging bull a week ago? Des anyone listen to him?

    Steve

  • ds2

    Slowly is right. Slowest tape evahh.

  • TomOfTheNorth

    Tyler Durden follows-up on the widely noted Julian Robertson interview from yesterday with some interesting observations on Treasury refunding…..

    http://www.zerohedge.com/article/visualizing-up

  • blues

    I think DXY is going to consolidate between 77.1 to 76.5 for a while… but if we dive below 76.5 then that would be a weakness and then if we again break below 76, then you can kiss USD good bye…

    The thing we (bears) really need is that for DXY close above 77.1 and stay above there for a few day, then we probably get another round of short squeeze…

  • https://www.evilspeculator.com/annamall%20 annamall

    I hope not, but I am thinking the same, it needs to get hold some gains above 77 blues πŸ™‚

  • harveydent

    anna – i just woke up…i had a lot of XXX marts.
    ANYWAY, might be my favorite morning because you called RIMM @ 70! sold my puts.

  • wex

    congratulations on your RIMM trade

  • blues

    Can someone please tell me WHAT IS SO SPECIAL ABOUT 1053?!!!! The neck line suppose be at 1057 (cash spx not future ES)! It seems tons of resistance here at 1053?!

  • Road_Kill

    Wow this is dull, bulls feel like they have the wind knocked out of them.

  • blues

    Ya, 77.1 seems to be a formidable resistance… we tested 3 times just from yesteday to today and get rejected there everytime…

  • springheel_jack

    Marc Faber was most definitely not a raging bull a week ago.

    I read his monthly newsletter & he is a long term bear.

    Doesn't generally express a view on stocks in the short term usually other than to comment that prices are insanely high in historical terms.

  • Trader_Steve

    I know I heard him speaking of hyper-inflation that would lift asset prices. If I can find it ion YouTube I'll post the link.

    Steve

  • Osso

    (1066 – 1046) x .382

  • Osso

    (1066 – 1046) x .382

  • Iguanadon

    He has been calling for folks to buy land and start farming. Very bearish for a long time.

    He said this in March 2009 for example.
    β€œBuy a farm and let your girlfriend work on the farm,” he said, to the applause of investors. β€œIf the global economy doesn’t recover, usually people go to war.”

  • TomOfTheNorth

    In an interview early this week, Faber was looking for continued strength in US equities near term with a total collapse in a few years…..

  • springheel_jack

    One of my favorite commentators. Marc Faber is very impressive.

  • blues

    Ok, I take that, good point, although I have fibo draw from 1080… maybe I'm too greedy? πŸ™‚

  • Trader_Steve

    That's what Barton Biggs stated and he wrote “War, Wealth, and Wisdom.”

    Steve

  • https://www.evilspeculator.com/annamall%20 annamall

    New post guys

  • Osso

    1053…VST
    the fib you mention is of larger gegree…..step by step…or u want the bears to give up so quickly..???hehehe

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    Crude up even after the durable goods numbers !! That's nuts….

  • springheel_jack

    Not really a bullish take though. His point was just that in the event that hyperinflation takes hold, asset prices will start to rise hugely in nominal terms while being wiped out in real terms.

    Hyperinflation hasn't brought prosperity to Zimbabwe. Didn't do much for Weimar Germany either.

  • 9pins

    Crooz.. oil up on Iran fear, vix followed over key 25 level as well.. now indecision.

  • springheel_jack

    He could be right if asset prices are simply a reflection of available liquidity.

    Not a bearish take though. He's just observing that you can warm up the house by setting fire to it.

  • Offtimer

    zero up!

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    OK thanks…….

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    volumes are pretty good for a Friday…..

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

    Visa getting taken to the woodshed and beaten, I was getting worried about the puts I bought. Feeling better now.

  • Trader_Steve

    “continued strength” means bullish to me. I know what he said because I thought, “why can;t he take his freaky-deeky Dutch accent and leave.”

    So he has reversed his stance by calling for the high to be in. Thanks Lothar of the Hill People…uh, TomOfTheNorth.

    Steve

    Steve

  • dollar

    and in case the economic news wasn't enough: Officials tell AP Iran has second enrichment plant.
    VIENNA (AP) – Iran has revealed the existence of a secret uranium-enrichment plant, the International Atomic Energy Agency said Friday, a development that could heighten fears about Tehran's ability to produce a nuclear weapon and escalate its diplomatic confrontation with the West.

  • innatedc

    Morning gang….if we break 1040 decisively then I have 1025 as next target….

  • http://www.hotoptionbabe.com annamall

    RIMM getting close to the 70 area as I mentioned yeeeh haaahhh

  • http://www.hotoptionbabe.com annamall

    Hi Inna, yea lets break it baby!

  • innatedc

    You think Rimm goes after that huge gap between 49-59?

  • CorporalCarrot

    Weee just back from lunch and I see my call on the Durable goods was correct!!!!

    PRedictions for the low of today?

  • dollar

    I think it's no time to be a chickenhawk bear…

  • Road_Kill

    Maybe they also have those remote control terror planes that would wreak biological mayhem on American cities everywhere like Saddam allegedly had. So many smoking guns so little time.

  • http://snpmonster.blogspot.com/ SnPMonster

    I have never seen such a long red bar in my life….

  • http://www.hotoptionbabe.com annamall

    Probably around 55 I think, it might bottom, could be wishful thinking πŸ™‚

  • Road_Kill

    DAMN YOU ANNAMALL…DAMN YOUUUUUUUU!!!!!!!

  • Styrfart

    Good call, read your comment, and was skeptic to it! I'm bad! πŸ™‚ What is your gut feel for Michigan

  • http://www.hotoptionbabe.com annamall

    I told you! Road

  • ReturnFreeRisk

    You are talking like I was talking last year. From your IM to God's ear. Your rock.

  • http://www.hotoptionbabe.com annamall

    sweeeet!!!!!!!!!!

  • http://www.hotoptionbabe.com annamall

    Hey Return!! I am really hoping we break 1040 and go downnnnnnnnnnnnnnnnnn πŸ™‚

  • AS2009

    Awesome call on RIMM Anna – YAHOOOOOO !!

  • http://www.hotoptionbabe.com annamall

    thanks girl, it may get a bounce around 70. If it breaks 70 watch out below πŸ™‚

  • Road_Kill

    Ehem…Bear trap…Ehem

  • http://www.hotoptionbabe.com annamall

    watch for a break of 70 Road, if it breaks that support level then allot of air below. OK?

  • dollar

    I hear your skepticism but you're arguing past me, just saying the economics are not going to be like World War II. Whatever “they've” got, it's not a huge conventional army, whoever “they” are, if “they” ever turn up…

  • Road_Kill

    Thanks anna will do, I feel like a have my own guardian angel to balance my trading stupidity.

  • blues

    Positive close today even though all these bad news of RIMM and durable goods? πŸ™‚

  • Road_Kill

    I wasn't really arguing as much as agreeing (the joy of electronic chat). I sense we are both thinking the same thing one way or another.

  • ReturnFreeRisk

    This might be more important than people think. The time for being timid, hedging at every opportunity, blah blah is over. We did that for 6 months, survived, preserved capital. It is time to take the bull by the horns, stand by your convictions, put your money where your mouth is. This is what I did last year. That is what i plan to do now. Hence the change in my avatar. Did you not see me wearing the horns that I ripped off from a perma bull with my bare hands.:)

  • Road_Kill

    When the bears get too excited thats usually the best time to snap their nuts in a big trap.

  • http://snpmonster.blogspot.com/ SnPMonster

    Blackrock bought RIMM at an average of 71 per share

  • anthem

    You planning on holding beyond the first half hour ? Don't have a position but I think it might retrace a bit before it takes a plunge past 70. . .

  • Road_Kill

    THe magic moment doth quickly approach.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Doesn't look like there will be much of a gap to fill though.

  • Road_Kill

    Yeah they have been good about that lately.

  • dollar

    Anna – later, when you have time, please tell me how to avoid this relentless signing back in to Disqus, it's driving me nuts. I have gone to the Disqus homepage and signed out and in, but every15 seconds it's seems I have to resign in!!

  • TheMacroEconomist

    I'm sticking with last night's USO long going into the open in spite of the Durable Goods disappoint, mainly on the weakness in the dollar. As I suspected, UUP couldn't stay above its $22.90 resistance level this AM.

    I actually view the “headline” -2.4% of Durable Goods as a positive – since the July figure only got revised down from 5.1% to 4.9%. AIrcraft orders skewed that whole thing.

    The real miss was the 0.0% ex-Transportation…

  • Road_Kill

    LOL love the avatar.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    I love four or five point gaps. Generally fill within a few minutes. Lowest risk returns of the day generally.

  • Road_Kill

    Yeah gap fills are great plays but they have been closing them before open lately. I remember 2007 when we would have the ES 50 point gap downs and everyone thought it was the end of the world only to close higher.

  • TheMacroEconomist

    For last night and today I switched to UAE President Sheikh Khalifa, estimated by Forbes to have a personal net worth of $23 billion largely thanks to oil. This after my 4 good trades in oil the past 2 weeks.

    I'm thinking I get burned today though, after my USO reverse to long afterhours yesterday. We'll see… πŸ˜‰

  • omelette

    Is Zero down?

  • Road_Kill

    LOL yeah thats why I find it so funny because I currently live in the UAE. Living large Mr Khalifa and hopefully yourself as well. Best of luck!

  • http://www.reddragonleo.com Red Dragon Leo

    I have to do it too… but only on IE 6.0, (probably 7.0 too?). Since I have multiple computers and monitors, I use Google chrome and I don't have too re log back in. Also, Firefox doesn't require you to re log back in either.

  • innatedc

    Wells getting hammered…

  • dollar

    XLF cracked yesterday's low – FAZ looking good

  • http://www.hotoptionbabe.com annamall

    No Omelette, mine is working πŸ™‚

  • Iguanadon

    Down 1.4%? Am I not seeing something?

  • http://www.hotoptionbabe.com annamall

    Try using Google Chrome Dollar or someone said something about enabling 3rd party cookies ??? (iggy??)

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I think we're at a pivotal point here…….if it fails to break down then I think we're going to break much higher or vice verse

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

    it's amazing how many times wave iiis full ew counters to believe all v waves are in. that was wave v this morning now wave ii begins under the bearish count. watch the 50 RSI on the 15 min SPX, wave iis usually cross before wave iiis start

  • innatedc

    No real colour on it….

  • Osso

    transports lower low than yesterday..same for semis,….
    not confirmed by major indexes….+ div.

  • http://www.hotoptionbabe.com annamall

    Closed (finally) 2/3 of RIMM spread..whooooooooooo hooooooooooooooo

  • thelefteyeguy

    gap fill?

  • http://www.hotoptionbabe.com annamall

    I think I am adding more spy puts here πŸ™‚

  • grasshack

    Zero not working?

  • http://www.hotoptionbabe.com annamall

    Hi Left yea, I am adding spy 106's here

  • blues

    Well all the bad duration good drop is gone!

  • Road_Kill

    Might be a bit early anna.

  • http://www.hotoptionbabe.com annamall

    Yea, glad I didn't do it yet
    πŸ™‚

  • blues

    Don't want to wait until 1057? back test of the broken neckline?

  • omelette

    Any idea why mine isn't updating?

  • dollar

    more TZA

  • http://www.hotoptionbabe.com annamall

    I am trying to figure it out Omelette, will let you know πŸ™‚

  • http://www.hotoptionbabe.com annamall

    me too! πŸ™‚

  • grasshack

    mine isn't updating either –
    was working fine at the open

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    50 period RSI on 15 min? Thx

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    This 2 day drop may have been a 4th wave trap……break down, lure in the short and then break higher……

  • http://alwaysanothertrade.blogspot.com/ dire_wolf

    50 line probably… sorry

  • blues

    If you are short already, probably good idea wait until around 1057 (cash spx) to load up more… I bought some UPRO this morning on that initial dip but sold just a bit early… sold around 127.43

    Plus we have 2 more data, if those data are good, it might just give bull the reason to push higher…

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Morning Anna,

    It looks like the zero is down. Geronimo may be as well. πŸ™

    I wonder if Mole can fix it from where he is now?

  • http://twojackstrading.blogspot.com TwoJacks

    I think we're on our way to 1059 in the /es over the next few days. This will get the bulls all giddy that they've done it again, then the rug gets pulled out. Bears are waking

  • fuzzygreysocks

    Throw Momma Under the Bus : http://tinyurl.com/ydtelzx
    Stocks to short & put at SPX 1100 or probable 5 of C of P2

  • http://www.hotoptionbabe.com annamall

    Hey all, I have an email sent out to Eric to please help

    BTW Morning Jack, swamped here, trading, trying to do new post, fix Zero…hahahahha

  • http://www.hotoptionbabe.com annamall

    thank you sweetie, πŸ™‚

  • http://www.hotoptionbabe.com annamall

    Hey all, I have an email sent out to Eric to please help ASAP :)))

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I think 1059 makes sense……..even if you coount this fall as a wave 1 down, 1059 only equates to a 38% retrace which is not unusual for a wave 2 retrace of wave 1

  • Road_Kill

    Watch the magic in the next 10 minutes. Consumer Sentiment then New home sales.

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    Well I'm the President of the United States…..although I think I need to get my hair mowed……

  • ckeltner

    A correction? sure, it could be. A trap? A 40 pts drop is not a trap. If anything it was a false breakout and bull trap.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    More than likely.

    The question is though whether we have seen the bottom yet. I suspect not. We may be visiting 1040 soon.

    If the SPX makes it through into the 1020's, then the immediate bear scenario is for real.

  • Iguanadon

    Ch Ch Ch Ch CHIA!

  • blues

    Anyone have any reasoning as to why the DT broken neckline really feel like is at 1053 (cash spx) rather then where it suppose to be around 1057? Everytime we get close to 1053, market just couldn't break… even premarket ES stopped around there… weird… Any special meaning at 1053?

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    If so, it would mean we're in wave iv of wave 1 down right ?

  • http://www.hotoptionbabe.com annamall

    whhhhhhhhhhhheeeeeeeeeeeeeeeeee

  • http://www.hotoptionbabe.com annamall

    I also put a email/text to Mole about Zero too. (had to)

  • blues

    Although I guess I'm wrong? As stated below, why does the neck line feel like is at 1053 (cash spx) rather then at 1057? Rejection there yesterday today premarket ES and now! what so special about 1053?

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Hey Anna. Do you think we've bottomed yet?

    I'm already buying calls but I'm expecting a bit more downside before any serious rises. What do you think sweetie?

    I'm looking for an entry at 1040 SPX or so with a panic button at 1030 if this goes the other way. πŸ™‚

  • Road_Kill

    Looks like consumers are happy.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Busy morning Anna. The posts look like a lot of work.

  • http://www.hotoptionbabe.com annamall

    Geronimo fixed!

  • ReturnFreeRisk

    how does Umich get revised by3.5 pts for sep already?

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    new home sales due in a few minutes too

  • http://www.hotoptionbabe.com annamall

    GERMONIO FIXED you should have gotten SMS ?? everyone???

  • z12run

    If the market drops, I suspect the sentiment will follow…

  • http://www.hotoptionbabe.com annamall

    Hey Jack, havent hardly had a chance to check just yet, so busy, but I will…the damn dollar is down, so we may have bottomed sweetie. πŸ™‚

  • dollar

    From the Sept. issue of Marc Faber's The Gloom, Boom & Doom Report: “The future will be a total disaster, with a collapse of our capitalistic system as we know it today, wars, massive government debt defaults and the impoverishment of large segments of Western society.” I think we should invite Faber over here to party with us…

  • http://twojackstrading.blogspot.com TwoJacks

    just glanced at the dollar (/dx) and that scenario would serve to produce a nice ihs on the dollar also.

  • http://www.hotoptionbabe.com annamall

    Zero should be working too let me know if still any problems πŸ™‚

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    I think so. We'd need to break 990 to be sure though.

    There is talk of an expanding triangle, so if we break down to the 970 – 990 level, we could still then fill the gap to 1099 & then make it to the 50% fib at 1121 before declining again.

  • moneyfarm

    Some potential long breakouts I'm watching:
    FINL
    EW (thin)

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Well done Anna.

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    weak home sales….didn't manage to kill the market………..

  • http://www.hotoptionbabe.com annamall

    thanks Jack, I am trading texting chatting blogging and on the phone sheesh talk about multitasking LOL

  • Road_Kill

    Remember its priced it or else we would be at S&P 1000000000

  • http://www.hotoptionbabe.com annamall

    freaking dollar needs to go UP!!!!!!!!!!!!!!!

  • omelette

    still not seeing updates on my end Anna

  • Road_Kill

    NOOOOOO I need to reload!

  • unibummer

    Ditto, zero still not updating

  • Osso

    now that you have so many monitors….!!!

  • AudioTactics

    Looks like we're stuck in a range of 104.55 – 105.25 in SPY for now….

  • http://www.hotoptionbabe.com annamall

    hahaha

  • http://www.hotoptionbabe.com annamall

    Still working on Zero guys

  • http://snpmonster.blogspot.com/ SnPMonster

    IYR not reacting much to New Home Sales…

  • Road_Kill

    I need more dylithium crystals captain!

  • http://www.hotoptionbabe.com annamall

    I need 12 more hands! πŸ™‚

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    Has no one warned you that you should stop sniffing dylithium ?!!

  • http://www.hotoptionbabe.com annamall

    IN CONTACT WITH ERIC AND MOLE ABOUT ZERO AND GERONIMO

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    market wants to break higher

  • Road_Kill

    I can't even sniff that? I gave up sniffing super glue and white out a while back but I think the damage is done.

  • fuw

    Many thanks.

    We're addicted to the good stuff you know…

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    I see it in your eyes …..

  • http://www.hotoptionbabe.com annamall

    they are aware and working on it Fuw, πŸ™‚

  • Road_Kill

    And the bear trap slowly closes.

  • Trader_Steve

    Marc Faber on Bloomberg….mkt high for 2009 is probably in.

    Wasn't this guy a raging bull a week ago? Des anyone listen to him?

    Steve

  • ds2

    Slowly is right. Slowest tape evahh.

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    Tyler Durden follows-up on the widely noted Julian Robertson interview from yesterday with some interesting observations on Treasury refunding…..

    http://www.zerohedge.com/article/visualizing-up

  • blues

    I think DXY is going to consolidate between 77.1 to 76.5 for a while… but if we dive below 76.5 then that would be a weakness and then if we again break below 76, then you can kiss USD good bye…

    The thing we (bears) really need is that for DXY close above 77.1 and stay above there for a few day, then we probably get another round of short squeeze…

  • http://www.hotoptionbabe.com annamall

    I hope not, but I am thinking the same, it needs to get hold some gains above 77 blues πŸ™‚

  • harveydent

    anna – i just woke up…i had a lot of XXX marts.
    ANYWAY, might be my favorite morning because you called RIMM @ 70! sold my puts.

  • wex

    congratulations on your RIMM trade

  • blues

    Can someone please tell me WHAT IS SO SPECIAL ABOUT 1053?!!!! The neck line suppose be at 1057 (cash spx not future ES)! It seems tons of resistance here at 1053?!

  • Road_Kill

    Wow this is dull, bulls feel like they have the wind knocked out of them.

  • blues

    Ya, 77.1 seems to be a formidable resistance… we tested 3 times just from yesteday to today and get rejected there everytime…

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Marc Faber was most definitely not a raging bull a week ago.

    I read his monthly newsletter & he is a long term bear.

    Doesn't generally express a view on stocks in the short term usually other than to comment that prices are insanely high in historical terms.

  • Trader_Steve

    I know I heard him speaking of hyper-inflation that would lift asset prices. If I can find it ion YouTube I'll post the link.

    Steve

  • Osso

    (1066 – 1046) x .382 + 1046 = 1053

  • Iguanadon

    He has been calling for folks to buy land and start farming. Very bearish for a long time.

    He said this in March 2009 for example.
    β€œBuy a farm and let your girlfriend work on the farm,” he said, to the applause of investors. β€œIf the global economy doesn’t recover, usually people go to war.”

  • http://outsidethe-cardboard-box.tumblr.com/ TomOfTheNorth

    In an interview early this week, Faber was looking for continued strength in US equities near term with a total collapse in a few years…..

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    One of my favorite commentators. Marc Faber is very impressive.

  • blues

    Ok, I take that, good point, although I have fibo draw from 1080… maybe I'm too greedy? πŸ™‚

  • Trader_Steve

    That's what Barton Biggs stated and he wrote “War, Wealth, and Wisdom.”

    Steve

  • http://www.hotoptionbabe.com annamall

    New post guys</bΒ€ΓΈβ€žΒΈΒΈβ€žΓΈΒ€ΒΊΒ°Β¨Β€ΓΈβ€žΒΈ
    > ΒΈβ€žΓΈΒ€ΒΊΒ°Β¨
    > Β¨Β°ΒΊΒ€ΓΈβ€žΒΈ N E W β€žΓΈΒ€ΒΊΒ°Β¨
    > ΒΈβ€žΓΈΒ€ΒΊΒ°Β¨ P O S T “Β°ΒΊΒ€ΓΈβ€žΒΈ
    > ΒΈβ€žΓΈΒ€ΒΊΒ°Β¨Β€ΓΈβ€žΒΈΒΈβ€žΓΈΒ€ΒΊΒ°ΒΊΒ€ΓΈβ€žΒΈ yea!
    >

  • Osso

    1053…VST
    the fib you mention is of larger degree…..step by step…or u want the bears to give up so quickly..???hehehe

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    Crude up even after the durable goods numbers !! That's nuts….

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    Not really a bullish take though. His point was just that in the event that hyperinflation takes hold, asset prices will start to rise hugely in nominal terms while being wiped out in real terms.

    Hyperinflation hasn't brought prosperity to Zimbabwe. Didn't do much for Weimar Germany either.

  • Guest

    Crooz.. oil up on Iran fear, vix followed over key 25 level as well.. now indecision.

  • http://channelsandpatterns.blogspot.com/ springheel_jack

    He could be right if asset prices are simply a reflection of available liquidity.

    Not a bearish take though. He's just observing that you can warm up the house by setting fire to it.

  • Offtimer

    zero is up! THX

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    OK thanks…….

  • http://www.flickr.com/photos/dabasia/sets/ Croozer

    volumes are pretty good for a Friday…..

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

    Visa getting taken to the woodshed and beaten, I was getting worried about the puts I bought. Feeling better now.

  • Trader_Steve

    “continued strength” means bullish to me. I know what he said because I thought, “why can;t he take his freaky-deeky Dutch accent and leave.”

    So he has reversed his stance by calling for the high to be in. Thanks Lothar of the Hill People…uh, TomOfTheNorth.

    Steve

    Steve

  • http://sshamster.blogspot.com/ Stainless_Steel_Hamster

    Nothing special, just about the convinience of ossama and his presence in CIA's paycheck

    MUCH BETTER is the extended version that crossed my mind after 9-11

    I saw it as nation states fighting back transnationals the only way they can be fought murder sabotage and pressure

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