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Big Balling Bottom Calling
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Big Balling Bottom Calling

by ScottJune 10, 2011

We have been waiting for nearly a year for the much heralded dollar reversal. Several times I’ve tried for this, and been clown raped for my trouble.

Another opportunity is afoot, and I would be negligent not to mention it. As we all know by now, bottom calling, knife catching bearshitting is one of the fastest and most painful ways to bankruptcy.

I know this from experience, and you wont catch me trading on a wave count if my life depends on it (but thats another story)

The SAFER way to top pick/bottom pick is to WAIT FOR THE RETRACE. That retrace can be a nice easy one day affair like this one you might remember, its a daily chart of the $indu at the March 09 bottom, or it can be more complicated.

Its extremely rare for a major top to not have a retrace of some sort.

As you all know by now the pattern is called RETEST VARIATION BUY

1) Significant low (the lowest low in 10 bars, or the first low to break a previous spike low)
2) One or more higher closes (than the close of the significant low bar)
3) One or more lower closes (than the close of the bar making the (2) higher close)
Buy on break of the high, stop at the low of the setup bar.

Here we have a weekly chart of the DXY, the US dollar index.

I’ve labelled it up for you, we are very close to the long trigger point. Of course its the same trade on the euro, just turn that frown upside down and take it short.

I’d like to point out one other thing. The Euro has sailed past every potential reversal point even though its funny mentals are terrible and its been tempting as hell to top pick it for ages from a number of technical perspectives. If it *should* have cleared the last hurdle and made a run at new highs, IMO this reversal “out of the blue” should result in a greater move in the opposite direction.

Bottom line, if you like holding your positions for weeks instead of days (not my bag but I’ve got the attention span of a dog) this is an outstanding trade.

Scott


About The Author
Scott

  • nyse

    “Clown raped”. Ha!
    Thanks.

  • Anonymous

    Scott, another nice one!
    question
    imbedded in the Daily lower bollinger , add shorts on breach of hourly hammer lows , right?

  • bisq

    Is that when you get one of those huge red clown shoes shoved up your ass?

  • Anonymous

    I am in complete agreement here. Perhaps even one of the current ultimate contrarian plays of the next few months. Of course this traditionally has meant more downside in the market, but a sideways market could also support this view.

  • bisq

    One wont go far wrong with a third of their net worth in physical dollars, one third in physical gold and one third trading the markets (with a short tack bent but hey , go with the flow)
    Find a good vault!

  • Anonymous

    UK market about to close, typically this means a push up to get some prices higher to support their end-of-day covering.

  • Anonymous

    UK market about to close, typically this means a push up to get some prices higher to support their end-of-day covering.

  • volar

    Inside days are key. Love your post. Made 3 nice trades on AUD, EUR, GBP using ur method.

    Problem is I have trouble knowing when to exit. I am one of those sticklers about exits

  • volar

    Inside days are key. Love your post. Made 3 nice trades on AUD, EUR, GBP using ur method.

    Problem is I have trouble knowing when to exit. I am one of those sticklers about exits

  • Anonymous

    I am not sure to what you refer. I am talking about being long the dollar, no matter how sickening that position may be.

  • Anonymous

    I am not sure to what you refer. I am talking about being long the dollar, no matter how sickening that position may be.

  • Anonymous

    Not quite, its a bit more complicated than that. I can explain in 5 mins what would take me 30 mins to type. Hit me up on skype scottphillipsau

  • Anonymous

    Not quite, its a bit more complicated than that. I can explain in 5 mins what would take me 30 mins to type. Hit me up on skype scottphillipsau

  • bisq

    Just thinking ahead…
     

  • bisq

    Just thinking ahead…
     

  • Anonymous
  • Anonymous
  • Anonymous
  • Anonymous
  • Anonymous

    I have rediscovered the DMI/ADX indicator in TOS. With some small tweaks, it helps keep me out of the various bull/bear traps. ADX by itself is good, but with DMI (D+ and D-), make for a really good trend indicator.

    I use VSA as well, but just learning that. I also use a custom StochasticsMomentumIndex combined with Williams%R indicator for a ranging indicators.

    Does anyone else use or are familiar with Volume Strength Analysis?

  • Anonymous

    I have rediscovered the DMI/ADX indicator in TOS. With some small tweaks, it helps keep me out of the various bull/bear traps. ADX by itself is good, but with DMI (D+ and D-), make for a really good trend indicator.

    I use VSA as well, but just learning that. I also use a custom StochasticsMomentumIndex combined with Williams%R indicator for a ranging indicators.

    Does anyone else use or are familiar with Volume Strength Analysis?

  • Kudos

    I really like volume rate of change as an indicator of trend reversals. I’m currently playing around with it set to 9 periods.

  • Kudos

    I really like volume rate of change as an indicator of trend reversals. I’m currently playing around with it set to 9 periods.

  • Anonymous

    Definition no.4 is quite appropriate. LOL!

  • Anonymous

    Definition no.4 is quite appropriate. LOL!

  • Anonymous

    Great stuff and spot on as usual Scott.  

    I was thinking of you earlier this morning when I removed my SPY Call  Hedge while I could still get something for it. 🙂  Unless something very dramatic happens, I’ll probably put another hedge on before the close so I can relax this weekend.   

    BTW, since the first time they came out, I’m actually having fun with the Pro-Shares and in this case SDS.  What I’m doing is using SDS as Options that never expire and that have nothing to do with the Fucking Greeks.  The exception to this is being able to calculate a Delta using SDS vs. SPY.  

    For example SDS at a price per share of $22.37 represents $2,237 per 100 Shares.  Then if SPY is @ $127.75 per share this represents $12,775 per hundred shares.   SDS has Twice the Inverse Result so if you take $12,775 / 2 = $6,388  Then take $6,388 / $22.37 per share of SDS = 286 Shares of SDS to have a Negative Delta of 100 in relationship to SPY and 572 Shares of SDS would have a Negative Delta of 200 etc.   Now as the Valuations change so does the Delta because if SPY becomes less in Value, SDS becomes higher in Value and the Delta would increase.  Or if the trade works against SDS the Delta would decrease. 

    Or MORE SIMPLY PUT, I take the total dollar value of my SDS and divide it by the total value of what 100 Shares of SPY would be and multiply the result by 2 and this will give me the correct delta.  The good thing about this is that there is no Vega, or Theta to fuck my head up.  

    I’ll still use a hedge, but I’ll use cheap weekly options or front month if they only have a few days to run.  And in this particular trade, my hedge would be Long SPY Calls.  Again not much Vega, but a decent amount of Gamma.  There is a Theta cost which adds up relatively quick but the options are also relatively cheap to begin with so NBD.  Also having the hedge and having a predetermined exit point is what allowed me to stay in my trade even though I knew that there was a big chance that we would go up yesterday.  

    You are so right when talking about what can happen when you violate your own rules.  It becomes a total Mind Fuck.  

    Lastly, I know that I’m in the Slow Lane right now but Chasing P3 Fucked up my account so badly, that I don’t have a lot of room for error.   And most importantly, I think I know what you mean when you talk about trading correctly within your own rules that have been back tested and have a net positive expectancy is really what it’s all about.   🙂

  • Anonymous

    Great stuff and spot on as usual Scott.  

    I was thinking of you earlier this morning when I removed my SPY Call  Hedge while I could still get something for it. 🙂  Unless something very dramatic happens, I’ll probably put another hedge on before the close so I can relax this weekend.   

    BTW, since the first time they came out, I’m actually having fun with the Pro-Shares and in this case SDS.  What I’m doing is using SDS as Options that never expire and that have nothing to do with the Fucking Greeks.  The exception to this is being able to calculate a Delta using SDS vs. SPY.  

    For example SDS at a price per share of $22.37 represents $2,237 per 100 Shares.  Then if SPY is @ $127.75 per share this represents $12,775 per hundred shares.   SDS has Twice the Inverse Result so if you take $12,775 / 2 = $6,388  Then take $6,388 / $22.37 per share of SDS = 286 Shares of SDS to have a Negative Delta of 100 in relationship to SPY and 572 Shares of SDS would have a Negative Delta of 200 etc.   Now as the Valuations change so does the Delta because if SPY becomes less in Value, SDS becomes higher in Value and the Delta would increase.  Or if the trade works against SDS the Delta would decrease. 

    Or MORE SIMPLY PUT, I take the total dollar value of my SDS and divide it by the total value of what 100 Shares of SPY would be and multiply the result by 2 and this will give me the correct delta.  The good thing about this is that there is no Vega, or Theta to fuck my head up.  

    I’ll still use a hedge, but I’ll use cheap weekly options or front month if they only have a few days to run.  And in this particular trade, my hedge would be Long SPY Calls.  Again not much Vega, but a decent amount of Gamma.  There is a Theta cost which adds up relatively quick but the options are also relatively cheap to begin with so NBD.  Also having the hedge and having a predetermined exit point is what allowed me to stay in my trade even though I knew that there was a big chance that we would go up yesterday.  

    You are so right when talking about what can happen when you violate your own rules.  It becomes a total Mind Fuck.  

    Lastly, I know that I’m in the Slow Lane right now but Chasing P3 Fucked up my account so badly, that I don’t have a lot of room for error.   And most importantly, I think I know what you mean when you talk about trading correctly within your own rules that have been back tested and have a net positive expectancy is really what it’s all about.   🙂

  • Anonymous

    I’m sorry I actually looked at that….I may be scarred for some time…

  • Anonymous

    I’m sorry I actually looked at that….I may be scarred for some time…

  • Anonymous

    Bobby, I really think you should just stop fighting and get yourself a futures account 🙂

    In comparison with your current situation, trade planning looks like this

    es contract = $50 / point. Risk = (Entry – stop)*50

  • Anonymous

    Bobby, I really think you should just stop fighting and get yourself a futures account 🙂

    In comparison with your current situation, trade planning looks like this

    es contract = $50 / point. Risk = (Entry – stop)*50

  • Anonymous

    Interesting, I’ll play with it too, see how it does on trending days like 6/6. Since its an oscillator, it may be noisy in a strong trend. For instance right now, we are ranging on the spoos and DMI is mostly useless, but the StoMoIndex w/ William%R is doing well. (of course they all somewhat hinge on timeframe, I use mostly ticks on futures or liquid stocks.)

  • Anonymous

    Interesting, I’ll play with it too, see how it does on trending days like 6/6. Since its an oscillator, it may be noisy in a strong trend. For instance right now, we are ranging on the spoos and DMI is mostly useless, but the StoMoIndex w/ William%R is doing well. (of course they all somewhat hinge on timeframe, I use mostly ticks on futures or liquid stocks.)

  • Anonymous

    Who is planning to go long from here?

  • Anonymous

    Who is planning to go long from here?

  • Anonymous

    Mole is indicating “bottom calling” for the dollar.  According to the Zero at this instant, I don’t believe most Zero watchers are going long…unless they are calling a bottom in stocks. Are you JOE?

  • Anonymous

    Mole is indicating “bottom calling” for the dollar.  According to the Zero at this instant, I don’t believe most Zero watchers are going long…unless they are calling a bottom in stocks. Are you JOE?

  • Kudos

    Check out the daily on SINA with the 9 day Volume rate of change. You’ll see what I mean and get a better idea of how to use it. Its nice to use in combination with bolingers especially if you see volume acclerating into an area completly outside the band, be careful not to bite to early

  • Kudos

    Check out the daily on SINA with the 9 day Volume rate of change. You’ll see what I mean and get a better idea of how to use it. Its nice to use in combination with bolingers especially if you see volume acclerating into an area completly outside the band, be careful not to bite to early

  • Bob the Horse

    me.  1265 on esm1.  Got my timing wrong earlier, predicted 1140 EST.  Still waiting for the level.

  • Bob the Horse

    me.  1265 on esm1.  Got my timing wrong earlier, predicted 1140 EST.  Still waiting for the level.

  • Anonymous

    I am itching too. Waiting for the right ZL signal.

  • Anonymous

    I am itching too. Waiting for the right ZL signal.

  • Anonymous

    Does anyone feel that this is one of the times when “oversold markets tend to stay oversold”? (see Daily Zero)

  • Anonymous

    Does anyone feel that this is one of the times when “oversold markets tend to stay oversold”? (see Daily Zero)

  • Anonymous

    I think the bottom in stocks will be reached just before QE3 is announced.

    For the time being, I closed 50% of my shorts. 

  • Anonymous

    I think the bottom in stocks will be reached just before QE3 is announced.

    For the time being, I closed 50% of my shorts. 

  • Anonymous

    I made the mistake of saying new POMO schedule was coming out at 2 yesterday.  It comes out today.  Are we done w/ QE2?  If so remember Volar’s charts.

    http://content.screencast.com/users/wprosser/folders/Jing/media/5bdc9604-a770-4555-bc27-5c8e2c38bc96/2011-04-29_1139.png

  • Anonymous

    I made the mistake of saying new POMO schedule was coming out at 2 yesterday.  It comes out today.  Are we done w/ QE2?  If so remember Volar’s charts.

    http://content.screencast.com/users/wprosser/folders/Jing/media/5bdc9604-a770-4555-bc27-5c8e2c38bc96/2011-04-29_1139.png

  • Anonymous

    Two questions Bob. 1. Why still ESM1 since it’s after the roll date? 2. How long are you expecting to hold this?

  • Anonymous

    Two questions Bob. 1. Why still ESM1 since it’s after the roll date? 2. How long are you expecting to hold this?

  • Anonymous

    Hey nice to chat to you mate, I can tell straight away that there is nothing I can really show you, you have a really strong handle on price action and the way it works 🙂 You should contribute more around here, I’m sure people would like to hear your opinions

  • Anonymous

    Hey nice to chat to you mate, I can tell straight away that there is nothing I can really show you, you have a really strong handle on price action and the way it works 🙂 You should contribute more around here, I’m sure people would like to hear your opinions

  • Anonymous

    exiting shorts es 1269.50

  • Anonymous

    exiting shorts es 1269.50

  • Anonymous

    waiting until monday, but wouldn’t be surprised to see a greek rescue over the weekend.

  • Anonymous

    waiting until monday, but wouldn’t be surprised to see a greek rescue over the weekend.

  • Anonymous

    I am, I like losing money 😉

  • Anonymous

    I am, I like losing money 😉

  • Anonymous

    If we go above VWAP, right?

  • Anonymous

    If we go above VWAP, right?

  • Anonymous

    Scott this might happen someday before I go to the big computer terminal in the Sky.  LOL

    Seriously though, I’ve got to try and slowly rebuild my trading account before I can even think about getting back into the fast lane.  And as cumbersome and as complicated as my style might seem, it’s not complicated to me.    Hell, Rubik’s Cube probably isn’t complicated to Rubik.  🙂  

    Speaking of The Fast Lane,  I remember back around 2003 or 2004, I was hooked into a system out of Boca Raton, Florida and it was running a bunch of computers and charts of the day trying to catch small quick moves on the Q’s.  

    I would get a loud beeping signal from my computer to let me know that a trade was pending.  Then it would beep again and flash across my screen Long or Short at $27.00 or whatever the price was at that time.  Then I would put in my order immediately for 2,000 Shares looking for 20 Cent Scalp or so with a 10 cent stop.  So the net would be about $400.00 per trade if it was a winner and a $200 Loss if it was a loser.  This was tough sledding because it was a while after the Tech Bubble Burst and Volatility was for shit.   I think I did about 4 or 5 of these trades per day for about 3 Months and just barely broke even.  I can still hear that fucking beep in my head.    

    So now I’ve built a check list:  

    #1) Rebuild my account.   

    #2) Make enough money to take my wife and me to Australia to buy      Scott a cup of coffee.  

    #3) Possibly open Futures account.   

         The above check list is for real.

     
    P.S.  I should keep typing because the longer I make this comment the better my account is getting.    🙂

  • Anonymous

    Scott this might happen someday before I go to the big computer terminal in the Sky.  LOL

    Seriously though, I’ve got to try and slowly rebuild my trading account before I can even think about getting back into the fast lane.  And as cumbersome and as complicated as my style might seem, it’s not complicated to me.    Hell, Rubik’s Cube probably isn’t complicated to Rubik.  🙂  

    Speaking of The Fast Lane,  I remember back around 2003 or 2004, I was hooked into a system out of Boca Raton, Florida and it was running a bunch of computers and charts of the day trying to catch small quick moves on the Q’s.  

    I would get a loud beeping signal from my computer to let me know that a trade was pending.  Then it would beep again and flash across my screen Long or Short at $27.00 or whatever the price was at that time.  Then I would put in my order immediately for 2,000 Shares looking for 20 Cent Scalp or so with a 10 cent stop.  So the net would be about $400.00 per trade if it was a winner and a $200 Loss if it was a loser.  This was tough sledding because it was a while after the Tech Bubble Burst and Volatility was for shit.   I think I did about 4 or 5 of these trades per day for about 3 Months and just barely broke even.  I can still hear that fucking beep in my head.    

    So now I’ve built a check list:  

    #1) Rebuild my account.   

    #2) Make enough money to take my wife and me to Australia to buy      Scott a cup of coffee.  

    #3) Possibly open Futures account.   

         The above check list is for real.

     
    P.S.  I should keep typing because the longer I make this comment the better my account is getting.    🙂

  • Anonymous

    I personally dont use vwap, but I like having it on the zero 

  • Anonymous

    I personally dont use vwap, but I like having it on the zero 

  • Anonymous

    There likely won’t be any QE3 until early 2012 to help support Obama’s re-election – that’s the theory I subscribe to, then Ben gets kicked to the curb as the fall guy for the fall-out from that decision.

  • Anonymous

    There likely won’t be any QE3 until early 2012 to help support Obama’s re-election – that’s the theory I subscribe to, then Ben gets kicked to the curb as the fall guy for the fall-out from that decision.

  • Anonymous

    The news is so bad, blood is all over the street. So, do we crash on bad news, extreme bearishness? Or does this mark a short-term bottom?

  • Anonymous

    The news is so bad, blood is all over the street. So, do we crash on bad news, extreme bearishness? Or does this mark a short-term bottom?

  • Anonymous

    Fuck the news.   🙂

    This thing should have crashed months ago.  For me picking a bottom is as dangerous as picking a top.  So I’m just going to go with the tape.   

  • Anonymous

    Question: How to rebuild a damaged account?
    Answer: Slowly and carefully!

  • Anonymous

    Question: How to rebuild a damaged account?
    Answer: Slowly and carefully!

  • bisq

    My p+l has been up and down more times today than whores drawers. Whoever engineered that stick save thankyou. Gonna walk the dogs now my positions are more manageable.

  • bisq

    My p+l has been up and down more times today than whores drawers. Whoever engineered that stick save thankyou. Gonna walk the dogs now my positions are more manageable.

  • Anonymous

    private sector is doing very well though. tech companies hiring left and right.

  • Anonymous

    private sector is doing very well though. tech companies hiring left and right.

  • Anonymous

    same! 😉 
    thanks for your help!

  • Anonymous

    same! 😉 
    thanks for your help!

  • Anonymous

    Wow, how about that Spike at 2:05 on the ES.  That looked like a visit from the Calvary.  

  • Anonymous

    Wow, how about that Spike at 2:05 on the ES.  That looked like a visit from the Calvary.  

  • Anonymous

    I got my signal. Gone long now.

  • Anonymous

    I got my signal. Gone long now.

  • Kudos

    I think that was the “don’t fire till you can see the white of their eyes”

  • Kudos

    I think that was the “don’t fire till you can see the white of their eyes”

  • bisq

    Reminded me of the good old days in 08 when we’d close green after being down 300 points at 1pm….maybe they forgot to put their clocks forward.

  • bisq

    Reminded me of the good old days in 08 when we’d close green after being down 300 points at 1pm….maybe they forgot to put their clocks forward.

  • Anonymous

    Fake capitulation!

  • Anonymous

    Fake capitulation!

  • Anonymous

    Fake capitulation!

  • Anonymous

    Fake capitulation!

  • http://thefxspeculator.blogspot.com Onorio

    This bounce doesn`t smell good…would not be surprised if they pump this a bit to get weak hands off and take this down by the EOD.
     

  • http://thefxspeculator.blogspot.com Onorio

    This bounce doesn`t smell good…would not be surprised if they pump this a bit to get weak hands off and take this down by the EOD.
     

  • Anonymous

    What do you smell?

  • Anonymous

    What do you smell?

  • Anonymous

    Perfect!

  • Anonymous

    Perfect!

  • Kudos

    I smell a continued melt up through the end of the day to make sentiment and internals less extreme and so next week there is more room below

  • Kudos

    I smell a continued melt up through the end of the day to make sentiment and internals less extreme and so next week there is more room below

  • http://practicalt.blogspot.com/ Gold_Gerb

    snapback ..b!tchez.

    Did you sleep through Mole’s snap-back class 101?  or were you staring at the naughty teacher.
    😉

  • http://practicalt.blogspot.com/ Gold_Gerb

    snapback ..b!tchez.

    Did you sleep through Mole’s snap-back class 101?  or were you staring at the naughty teacher.
    😉

  • Anonymous

    Euro not joining the party.

  • Anonymous

    Euro not joining the party.

  • http://practicalt.blogspot.com/ Gold_Gerb

    Yes.
    it’s the time your favorite STO’s go embedded and don’t come back.

  • http://practicalt.blogspot.com/ Gold_Gerb

    Yes.
    it’s the time your favorite STO’s go embedded and don’t come back.

  • Kudos

    Euro just painted an inside candle on the 30 minute, i’m looking for a bounce to 1.437 before re-entering my dollar long

  • Kudos

    Euro just painted an inside candle on the 30 minute, i’m looking for a bounce to 1.437 before re-entering my dollar long

  • Anonymous

    bought some lottery tickets on the Q’s 56 weeklies for .12.

  • Anonymous

    bought some lottery tickets on the Q’s 56 weeklies for .12.

  • Anonymous

    Keep in mind triple witching opex next week. I guarantee you that some of this volatility is related to covering/closing of positions related to that.

  • Anonymous

    Keep in mind triple witching opex next week. I guarantee you that some of this volatility is related to covering/closing of positions related to that.

  • http://thefxspeculator.blogspot.com Onorio

    Crapp…

  • http://thefxspeculator.blogspot.com Onorio

    Crapp…

  • Kudos

    Just broke top of inside candle

  • Kudos

    Just broke top of inside candle

  • http://thefxspeculator.blogspot.com Onorio

    You migth be right, im out of my AUD short for +2R and looking to go long near the close if we manage to close at this level.

  • http://thefxspeculator.blogspot.com Onorio

    You migth be right, im out of my AUD short for +2R and looking to go long near the close if we manage to close at this level.

  • Anonymous

    Ya but maybe this time the Calvary is being led by none other than George “Benny” Custer.    🙂

  • Anonymous

    Ya but maybe this time the Calvary is being led by none other than George “Benny” Custer.    🙂

  • Anonymous

    yeah shit… missed my lotto tickets (FAZ 52p exp today) by using the john. By the time I got back they went from .25-.27 to .60 or so, didn’t wanna chase, now they hit 2 bucks! damn … ah well ya snooze ya loose, ya sleep ya weep.

    good luck with your tickets! BTW this storm back seems to be led by the banks… Bilderberg news being traded by the big boys?

  • Anonymous

    yeah shit… missed my lotto tickets (FAZ 52p exp today) by using the john. By the time I got back they went from .25-.27 to .60 or so, didn’t wanna chase, now they hit 2 bucks! damn … ah well ya snooze ya loose, ya sleep ya weep.

    good luck with your tickets! BTW this storm back seems to be led by the banks… Bilderberg news being traded by the big boys?

  • Anonymous

    I think we’ll have a chop-fest until the “golden hour” 12pst or last hour of trading.

  • Anonymous

    I think we’ll have a chop-fest until the “golden hour” 12pst or last hour of trading.

  • Anonymous

    Ole Humpty Dumpty needs to lose some weight as he is having a hard time staying balanced on the VWAP Line.  

  • Anonymous

    Ole Humpty Dumpty needs to lose some weight as he is having a hard time staying balanced on the VWAP Line.  

  • Anonymous

    Small caps (RUT, IWM) seem to have better bid to them than all the rest.

  • Anonymous

    Small caps (RUT, IWM) seem to have better bid to them than all the rest.

  • Anonymous

    double inside bars on 15 min /ES and /GC

  • Anonymous

    double inside bars on 15 min /ES and /GC

  • Anonymous

    I agree.  

  • Anonymous

    I agree.  

  • omelette

    i see the low on the 1st as 1267.25 and the low on the 2nd as 1267.00. so not an inside bar. Retest variation buy on a break of 1270.75 though

  • omelette

    i see the low on the 1st as 1267.25 and the low on the 2nd as 1267.00. so not an inside bar. Retest variation buy on a break of 1270.75 though

  • Anonymous

    Tough to buy the Oilers 2 Days in a row so I think they’re trying to build with the Financials as Goldman keeps making new highs.  

  • Anonymous

    Tough to buy the Oilers 2 Days in a row so I think they’re trying to build with the Financials as Goldman keeps making new highs.  

  • Anonymous

    must be some good Bilderberg news with banks kicking everyone out of the party so they can eat all the cake.

  • Anonymous

    must be some good Bilderberg news with banks kicking everyone out of the party so they can eat all the cake.

  • Kudos

    Mole, what do you think of the smoothed zero lite signal on the hourly? 

  • Kudos

    Mole, what do you think of the smoothed zero lite signal on the hourly? 

  • Anonymous

    just looked at the 52s again … why do I torture myself? missed it now move on and don’t get over aggressive and force the next trade. Thanks Moth! sounds like good advice!

  • Anonymous

    just looked at the 52s again … why do I torture myself? missed it now move on and don’t get over aggressive and force the next trade. Thanks Moth! sounds like good advice!

  • Anonymous

    I smell it now.

  • Anonymous

    I smell it now.

  • Anonymous

    New POMO schedule – still some $ to burn but less than the last one.
    http://www.newyorkfed.org/markets/tot_operation_schedule.html

  • Anonymous

    New POMO schedule – still some $ to burn but less than the last one.
    http://www.newyorkfed.org/markets/tot_operation_schedule.html

  • Anonymous

    I would be impressed with a gap fill here, small caps have the best chance. Now I think this is not likely to happen, small chance, but you never know…

  • Anonymous

    I would be impressed with a gap fill here, small caps have the best chance. Now I think this is not likely to happen, small chance, but you never know…

  • Anonymous

    From another site “it looks like another stick save based on another fucking rumor that the Banksters won’t have to have as much in Reserves or some bull crap like that”.   

    This is reminding me of the fall of 2008 when Charlie Gasbag would come on Hee Haw and say all kinds of good things that he knew by talking to the Lehman President or whatever. 

    But the Internals are still weak even as the Giant Squid make new highs.   So we’ll see how we close.  

  • Anonymous

    From another site “it looks like another stick save based on another fucking rumor that the Banksters won’t have to have as much in Reserves or some bull crap like that”.   

    This is reminding me of the fall of 2008 when Charlie Gasbag would come on Hee Haw and say all kinds of good things that he knew by talking to the Lehman President or whatever. 

    But the Internals are still weak even as the Giant Squid make new highs.   So we’ll see how we close.  

  • Anonymous

    Volume is so low, this non-events have more impact than they should.

  • Anonymous

    Volume is so low, this non-events have more impact than they should.

  • https://evilspeculator.com molecool

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  • https://evilspeculator.com molecool

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  • Anonymous

    Fauxpitulation. I called it.

  • Anonymous

    Fauxpitulation. I called it.

  • Anonymous

    Right, move on. The market provide a constant stream of opportunities.

  • http://pulse.yahoo.com/_IGCJ2D2HV62STDQVTYYZU4Z53Q Simplemente

    I am with you Matt, these bastards will not drop the markets, but till the end of year or beginning of the following one with the new Q3 -due to the American elections- will suffer and we will go away below 1200. The next week will get lost in 1250 with filter, but it will be a fake and we will have a dead cat bounce.

    Certainly, this weekend the Club Bildeberg has met, by chance before the decision regarding the crisis Greek European… these already know what it is going to spend.