Do Or Die!

12:30pm EDT: The headline applies to both the market and you guys. Something I do not tolerate is laziness and complacency – listen rats, we are at the cusp of the shorting opportunity of a lifetime, so get with the program. I expect all of you to work your little heineys off. Where are the charts, the long lists of victims for us to brutalize over the coming months?

Are you rats evil enough to ride this thing to the downside? All I see is cheer leading and hand clapping over a few handles to the downside. This is nothing! You think you made some money today? Wait until we start dropping for real – today’s little dipper can easily turn into yet another buying opportunity for the bulltarts – remember we had another $5.6 Billion POMO auction this morning – I’m sure this cash will be deployed in a very short order. BTW, if you are holding short term puts/futures positions right now I suggest you take profits.

The buck needs to stop fucking around and start breaching resistance lines – let’s start with 78.74 – unless we start pushing up hard this thing is probably going to remain in sideways mode ad nauseum.

The SPX is at an important inflection point right now. A breach of the psychologically sensitive 1000 mark would surely trigger a whole hornets nest of stops. I don’t think it will happen today quite frankly – this would be too easy – and again, primary dealers are flush with cash after that POMO auction – it will get deployed later this afternoon, I’m pretty sure.

Should we breach the 1000 mark orange and green will be promoted to our high probability scenarios. The 980 line is probably where the rubber meets the road – if the bulls lose that mark Primary {3} has a good chance of being in motion.

If we get another dip buying frenzy into the close I will wait for new market highs to add to my short positions – if that happens chances are that the permabulls will push this thing into the 1040-1050 cluster.

1:19pm EDT: I have updated the stats/charts section on the geronimo page – go take a look. For what it’s worth – in one of the most difficult markets I have ever witnessed this thing has been kicking ass and taking numbers – it’s been an excellent first two months.

1:36pm EDT: Victim of the day:

Read this for more context on the above – hat tip to Berk who recently emerged from his Alcor cryonic hibernation chamber.

2:21pm EDT: I just put in a stingy order for January SLV puts – spread are shit though – whatcha gonna do…

3:31pm EDT: Okay, the freaky last hour is upon us – we have half a pack of cigarettes, a full tank of POMO cash for primary dealers, we are right at the 1000 mark, it’s dark and we are wearing sun glasses.

Hit it!

This is going to be a very revealing moment in the tape – if they don’t drive the tape up right now and here Primary {3} might become the leading scenario.