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Fake Out!
182

Fake Out!

by The MoleMay 21, 2009

2:11pm EDT: Those bastards faked me out – should have held those puts a bit longer. But it was starting to look pretty precarious and then suddenly selling hits out of nowhere (watch the Zero right now). Meh – based on the comments I saw I wasn’t the only one who was falling for this one 😉

Good news is that we have a nice channel to the downside now. Stick with this one and don’t let spikes get you out of your remaining puts unless we see a border breach.

Folks – we might just hit our target range today – I would strongly recommend to close out the majority of your postions before the EOD. We had a good run – let’s not test our luck.

2:24pm EDT: The ole buck is in our target zone now:

I might have to rethink my wave count as a bounce here could slaughter equities. Also, TNX now at 3.37% – this is start to look like a developing dislocation to me.

3:01pm EDT: We went from overbought to oversold in one day on my stochastic index grid:

BTW, this is for my Zero subs – they’ll know what it’s about:

3:55pm EDT: Just a friendly warning:

Might be a late warning but not much damage done yet. Might be a good idea to take partial profits.


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.
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  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Unless we smash through it, then I’ll just feel like a tool 🙂

    Thanks man

  • Anonymous

    I really like your channels – they are quite helpful.

  • BalaB

    hold the phone…..check out Z signal….

  • CowardlyLion

    The wave of selling coincided with a break of the dollar below the declining channel it has been in.

  • Keirsten

    Could be right Mole- tomorrow's volume might be light because of the holiday weekend.

    BTW- the Qs have built a gorgeous rooftop pattern since Monday.

  • salvadorveiga

    “Folks – we might just hit our target range today – I would strongly recommend to close out the majority of your postions before the EOD. We had a good run – let’s not test our luck.”

    Is evil.rat or resident systems any near of issuing a signal?

    So if it issues one probably would be best to ignore?

    thanks

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    $TRAN is approaching The Alamo — http://tinyurl.com/pmlsbd

    Expecting a bounce there

  • Osso

    Qs support 33.23…..???

  • innatedc

    C'mon bears tear 'em apart…..big battle here at 880…

  • Osso

    goldstocks on fire…!!!!

  • molecool

    But Tuesday might be the day to go short in a big way if we get a spike back up tomorrow. The Dollar is starting to look interesting.

  • rhae

    See no reason to bail out of SPY 60m shorts unless 60m rez. busted… 90, just ny line

    I know a little pain to go up that high… I am swinging in a longer timeframe than the ultra clickers

  • ennuigo

    That sht is cool man. Thx

  • Keirsten

    Exactly. 😉 Plenty 'O time for this.

  • Osso

    its a bit early for this move down….mmmm……seems we might bounce…….or….we break 875….and then…more….

  • Terrapin

    As am I (a longer time swinger). Still holding short.

  • katzo7

    VIX up 10.51% and seeming to climb

  • ZigZag

    Looks good SSC! 🙂

  • GoCougs

    Repost: Does anyone subscribe to Shadowtrader Pro? Doesn't seem that they cover option strategies. Have you found it useful?

  • rhae

    SPY 10m most indicators in oversold line…. strong lines above and weaker lines below… which suggests to a big flush from here…. topping action done… Bulls last skirmish line close, hair teeth, eyeballs and guts may be close at hand…

  • ropey

    Yes they do but the newsletter is good, it's another take on things but they've made some pretty good calls and $20/month is nothing

  • MyLifeMyTrade

    SPY 88.15 = low from last week is a key level.. If that is broken, then the next support is at SPY = 84.76 (34 SPX points below) and then at SPY = 82.75 (another 20 SPX points below).. We have already come down 44 SPX points from the top.

    I think financials will decide where this goes IMO… They have held strong from yesterday's highs.. If XLF can crack up, then we will go down in a hurry.. IMO, XLF has a lot of catching up to do with the other sectors of the market in this down move.. God bless XLF (ha.. ha.. ha..)

  • standard_and_poor

    Low risk spot to add to longs.

  • BalaB

    I tried it a while ago. I found very little value.
    search out Mitch King. I'm very happy with his Daily Stock report

  • innatedc

    I find it helpful as well but I usually don't take their trade advisories…I like the other extra letters you get with it like Mike Turner's Stock Report and The Market plot (great for ETFs)….

  • itsgold

    stepped out of my puts. Got a nice return overall. good luck everyone. I'm looking to scale into some longs somewhere around here.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    LET'S GET HIM!!!

  • innatedc

    LOW risk if you like standing in front of a bus…..

  • BalaB

    Anna…are you still here. I was just looking at RL again and forgot to mention to leave a wider margin of error on the NDX than you would for the SPX…..(ex: +/-5-7pts)

  • ptthaas71

    excellent post!

  • ennuigo

    Crack!

  • Keirsten

    Correction: that's a V Top on the Qs

  • Squidman

    Sure missed a big Ice fall yesterday!

  • http://www.nkouts.com nkouts

    Why close shorts now? With a US holiday on Monday I can't see many being too eager to continue holding Friday afternoon after a huge down day today. That could accelerate a sell off tomorrow.

  • BalaB

    Yeah…me too.
    Lots of good stuff in there to short in the coming few days.

  • MyLifeMyTrade

    XLF still showing relative strength.. XLF is the tell..

  • katzo7

    Don't.

  • annamall

    yes, I am here, just tidying up for tonight. 🙂 thanks B.

  • rhae

    same here short since May7 on that nasty big red spy candle

  • Count_de_Monee

    Hey MLMT.

    Looks like I won the little wager from yesterday. Like I said, never fight the naked neighbor indicator 😉

  • swanswan

    the trend is yor friend ………it's going down,no?

  • BalaB

    Nope…Something is not right.

    We have a strong signal but no follow through in terms of price.

  • tranchefoot

    Friday before Memorial Day is a traditionally an up day, according to BIL. Tribute to the vets.

  • anthem

    You are correct. XLF can essentially turn the market around when it holds strength and then starts a run. I'm hoping they are out of bullets as well since they've had such a monstrous run in the last couple months. They are the last to fall though. If the wall breaks when they do fall – it'll be large and slippery.

  • innatedc

    I'm smelling it also……on your toes guys….

  • annamall

    USD showing signs of LIFE!!

  • BalaB

    Cool. One can make an argument we're still at the 75% 'zone' on the NDX

    Have fun on your date. And don't be afraid to Mace him. He may not like it but you'll get a kick out watching him cry like a baby. – hahahahaha

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

    Long ES @ 880.25 with Stop @ 876.00

  • molecool

    If the bears are getting paranoid we might drop even further.

  • Scoops

    Well I bought the Vix June 37.50's which are working out nicely.

  • anotherone

    I'm looking at buying an SPX Sep call 950/1000 but the bid/ask is atrocious.

  • katzo7

    Anyone see CME up over 6 points in a down (understatement) market?

  • ropey

    Upgrade by GS this am..

  • annamall

    Thugs GS upgraded them

  • annamall

    You mean the bulls don't you.?

  • Dutch

    HUGE volume on @DX

  • annamall

    I think we're getting another fakeout and will head back down again!

  • molecool

    You might have to check your underwear…

  • Osso

    today HAS to be a day with no last 20 minutes push up…..

  • molecool

    Nope, I meant the bears.

    What is it with you today? Having an upside down day? Oh… never mind – LOL

  • annamall

    Mole had that retracement level perfectly. its making it's way back which should make the market tank further! 😀

  • molecool

    Little participation means those XBox prop desk monkeys can push the tape up without much resistance.

  • Skates

    Anyone looking to close puts/calls EOD?

  • innatedc

    Still thinking about it….

  • Squidman

    Got something else on her mind……

  • molecool

    Not everyone likes to fake it, Anna.

  • v8muscle

    Added a long position as a hedge. I think we may bounce here back to 895 or so

  • annamall

    ROTFLMBO 😀 Faking isn't necessary in my book!

  • annamall

    Skates where i am up huge, yes, but only partially. I think we will be down over 200 at the close. IMHO

  • Douala

    As of 3:19 it is a

    http://tinyurl.com/rbxxtl

  • alphahorn

    closed out of most, kept VIX calls, HIG & JCI shorts and a couple little longs, mostly cash. We're still going down intermediate term, but imho, we'll correct a bit first this 5th wave may have just shot its wad

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

    LMFAO! +1

  • http://www.aggressivelyuninformed.com nepharis

    Ugh, what an ugly day. Got a nice trade on the /NQ in the morning, and I've faked out and whipped around since. Ugly stuff. It's a bit depressing to not make any money on such a big move down. 🙁

  • ennuigo

    Bearanoid

  • Iguanadon

    I did the same. Bought some FAS to balance my FAZ out a little. Bi-polar time for me. Yippee!! Damn!

  • ropey

    Patience is a virtue

  • lester

    If we get the VIX sell signal, doesn't that mean it is a good idea to stay short overnight and expect gap down tomorrow?

  • alphahorn

    Pic of the day, no Katzo it's not annamall's alleged swimsuit edition, but the next best thing, if you're holding VIX calls

    http://www.screencast.com/users/alphahorn/folde

  • onorio

    naaaaa, let it roll 🙂

    im no daytrader, so until i see some signs of green shoots i will hold my puts

  • Squidman

    The big V.O. eh, girl your picture just gets better all the time!

  • goldfishka

    CNQ is beaten to death today

  • ennuigo

    rising wedge fail?

  • Squidman

    No shmo, it means you can stay short till your stupid puts are breathing again.

  • annamall

    Nice Alpha! The VIX is rolling now, I just wish the USD would join the party!

  • roncofooddehydrator

    Nothing about gaps. Just means that we'll have a direction reversal to the uptrend (so a downtrend) within the next week.

  • annamall

    I say push down! 😀

  • anthem

    Exiting out of my Google put options at 395. It might run a bit further but I brought my stops out and that last surge took it out. Still holding a few SRS calls that I might exit out of soon as well.

  • ennuigo

    Monkey business hour

  • LostIllini

    UUP looking very bullish on all time frames, think I'm gonna hold my shorts, see what happens.

  • katzo7

    Up 11.78%

  • Keirsten

    Done, and hedged. Nice day Rats! 😀

  • lester

    I've got a long way for them to be alive. By the way, I resent your attitude.

  • Autopsias

    Mole I know now who has the hand on the levers of the market!! It's YOU!! :):)

    I mean that call in the Zero was not great, was simply spooky!! Damn!!

    Good thing I heard you! 😉

  • springheel_jack

    There was a very interesting spot on Bloomberg talking about the last hour volume spike and suggesting that it was due to EOD rebalancing by leveraged ETFs.

  • rhae

    SPY tick chart, 88.75 r/s test inconclusive so far…. looks like stop run done…. time for the rubber to meet the road… which direction? down? I dunno….

  • springheel_jack

    I've only been watching the zero a couple of weeks but the follow through on divergences has been very impressive.

  • alphahorn

    you at the fake out anticipating anna, or the VIX? 🙂

  • Osso

    Gm being pumped hard….up 27% today…wow

  • katzo7

    Yeah, i agree with lester. Squiddy, we all have to respect each other or things fall apart. He has had toughest enough time.

  • rhae

    I would luv to look at that wedge… but without knowing where to look, I can't? index? timeframe, tracker?

  • Keirsten

    Interesting. I wonder if they'll announce a BK on them over this long weekend… like Monday for instance.

  • alphahorn

    keep your eye on the RSI on the SPX daily. It has been above 50 for practically the entire rally off the march lows. now it's test 50 and if it breaks we might be in for something a bit more interesting

    http://www.screencast.com/users/alphahorn/folde

  • Skates

    Closed my FAZ calls near LOD, will look to start reloading tomorrow/Tuesday…I however hate Friday's before a holiday so I may golf instead! 🙂

  • katzo7

    Anna has been communicating with me and I have to keep on telling her, NO, I am married! But she is very persuasive. ROTFLMAO

    Sorry Anna, cheap shot.

  • onorio

    Zero don`t say to get out, VIX is up 12% and most likely will confirm the signal…

    why the hell would i get out of my puts?

  • ropey

    I think it's meant to be early June? That's when the govt deadline runs out..

  • springheel_jack

    Either way I think that the rally's previous upward channel looks finished.

    Sideways trading after a correction looking increasingly likely from here.

  • Squidman

    Yeah, and I have a beautiful sister who needs a date : >

  • Keirsten

    We're mighty close to that deadline here. It would be just like TPTB to pull an announcement when the market is closed.

  • denali92

    I would hold all puts right now – while it is not evident on ES or SPX. We could be setting up very nicely for one more down trade in to tomorrow to re-visit last Thursday morning's lows in IWM, QQQQ and MDY – then with a bounce to say 48.75 in IWM – we then have one EPIC H&S that would do us right for another 10% on the downside – just something to think about.

  • annamall

    you are truly a nut! (a lovable one though. ;-))

  • katzo7

    see below response to Alpha

  • annamall

    Vominix! (aka VIX)

  • Squidman

    Yeah, you're right Lester. Sorry! You have a good chance still, in a lot of ways. I'll try not to resent yours going forwards.

  • katzo7

    hahahaha.

  • annamall

    BTW you know it's the other way around!

  • alphahorn

    fwiw,
    what i'm looking for the rest of the day today and tomorrow

    http://www.screencast.com/users/alphahorn/folde

  • rhae

    SPY tick chart… EW looks very clean… after a nice move down… Can I guess, Corrective tomorrow…
    http://screencast.com/t/IJeA31tGhl

  • ennuigo

    And U-turn! (hope)

  • ropey

    nods that what im hoping the gameplan is aswell

  • Osso

    sorry….33 %…..now

  • rhae

    Gee Alfa, I had not see your chart, mine next up… looks like we are in the same page..

  • katzo7

    OR
    http://www.screencast.com/users/katzo7/folders/
    But I haven't been able to read this market.

  • katzo7

    You're married? Does Mr. Hotbod know that?

  • Keirsten

    Might be on target Katz- there's a huge rounded top pattern there, and it will typically retrace up a portion of that form before falling.

  • lester

    thanks for your support. I have had a rough time, but it is all my fault. BTW I just closed one of my QQQQ Jun Put positions. Still holding another Q Put and AAPL Put position.

  • lester

    Thanks, I'll try to lay low anyway, no use to burden you guys with my issues.

  • annamall

    ennuigo, you got that right, I am so tired of the manipulating in this tape. Did you guys here about all the BILLIONAIRES(supposedly the PPT) meeting I think it was yesterday on a yacht in NYC.

  • tranchefoot

    Yay! We closed below the longish-term uptrend channel on the SPY. Tomorrow we backtest.

  • annamall

    God was I wrong on how the day would end, glad I took of GS, but I didn't capture all the gains I could have (nothing for Emile tonight ;-D)

  • onorio

    i must agree with that, seems like 5 clear down waves

  • ropey

    I bet that gap is gonna fill tomorrow at /ES 900 – it ust seems 'too perfect' if it plays out like that..

    Just wish i had the nuts to hold things a bit longer! Donkey here got out of his puts yesterday at 34.34 LOL…….i need those blinders of yours keirsten

  • anthem

    Not sure what it is, but we just can't seem to get a fade into the close – only a last 15 minute pump. You'd figure I'd have learned from this with it happening OVER and OVER and OVER again, but for whatever reason – I just haven't. . And you know just when I play it, its going to go the other way. . . argh. . . monkeys learn faster than me on that move.

  • annamall

    Alpha guy, looks like you will be spot on. keep those excellent'e charts coming sweetie! 😀

  • annamall

    Your'es too Katzo!

  • springheel_jack

    We might have a corrective stoch reset day tomorrow, but I think next week could be very nice to the bears.

    Good opportunity to add to shorts tomorrow I think.

  • katzo7

    I really cannot believe fucking CNBC. This morning they said the jobs number was not that bad. Fade to 4 PM. They said the sell off was caused by the poor job numbers. What a bunch of fuck ups.

  • Keirsten

    HAHA Ropey. I know what I see longer term happening here, but I think most of us who are shorting are a pretty paranoid group right now. I covered a few stragglers myself this afternoon, but my longer term horizon plays are staying put and I grabbed some longs to hedge and cover me-self tomorrow if needed. Hope you had a good $$$ day though! I'm going to just work on my big plan tonight and trade accordingly.

  • katzo7

    Who is Emile?

  • springheel_jack

    I'm with you. Lots of sell signals here. More down action on the way after gap fill.

  • Keirsten

    I completely agree Jack. I'm glad for the time to plot this out carefully and pick my spots tomorrow. Nice to have you on board with us here by the way. 😉

  • Osso

    Manipulators in control…keep it up…bastards…..work 20 minutes a day….

  • katzo7

    Very clean chart, rhae.

  • http://gemstowear.etsy.com Jan

    Hi guys. Just got home from 3.5 hours in the dentist' chair to find this on KD's ticker:

    From the forum, wire from Reuters claimed original source:
    21. There apparently is a new wrinkle to the intermediation trade between buying from Treasury to sell to the Fed with real money, including central banks, now in on the act. Indeed, several Street sources relay central banks were aggressive offers into this morning's coupon pass, with one letting go of a large block of old 5-years. Other offers too are coming in from embedded Asian real money longs — in the higher coupons — also looking to sell size without unduly upsetting the market, and especially considering the illiquidity in off- the-run bids from the Street.

    Whether influenced or not by the much higher tenders coming in on the Fed Passes ($45 bln tendered for $7.4 bln bought in today's pass for a 16.2% hit rate), fast money has been tattooing the bid and especially so in the belly with the 10-year most leaned on. Note as well, earlier this week the Bank of England (BoE) gilt pass too saw a need to offer paper at or below the market's bid side in order to get sales off.

  • katzo7

    K, I agree, good to have him. Spring is from England, right? Unbelievable story this morn, S&P thing and England.

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

    Out of my long ES @ 886.25

    Over all slow but profitable day for me. Cheers!!

  • onorio

    like i`ve said, im not a daytrader so until i see some signs of upside i will stick to my puts.

    im aware that we might correct tomorrow, so i will add more puts arround 900 it we even get there.

  • http://gemstowear.etsy.com Jan

    I read this guys blog every day because he is all over the bond market. I recommend reading his entries today, especially the one labeled “Bond Market Ramble” at 12:30 today.

    Perhaps we are heading into that bond market dislocation. Buckle up.

    http://acrossthecurve.com/

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • innatedc

    Her new beau…..oh easy boy, stay back….calm down….Anna you better get Emile outta here before Katzo takes his leg off…….

  • http://gemstowear.etsy.com Jan

    They are f***ing, lying, pieces of shit (except for Rick)

  • Osso

    Though Dow made a lower low than may 15th. low…DIA made 0.02 higher (82.30 vs. 82.28)….SPY the same 88.28 vs. 88.15….Qs the same 33.31 vs. 33.23.
    NDX,SPX and COMP printed higher lows than may 15…when the 879 was printed as a low.
    R2K, via IWM also made higher low (47.45 vs. 47.28), and SMH too.
    ONLY IYT made lower lows than May 15 (53.62 vs. 54.21).

  • http://www.aggressivelyuninformed.com nepharis

    Slow is for sure. I managed to come out green thanks to scooping a few points out of /TF on the EOD rally, but damn, that was ugly for a while. Zero was pretty helpful, but evil/NQ was just sitting around with its thumb up its butt all day.

    Nicely done on another profitable day. Cheers!

  • katzo7

    LOL

  • katzo7

    Did you see my response to her down below? Well, innac, I will make it easy for you.
    katzo said:
    “Anna has been communicating with me and I have to keep on telling her, NO, I am married! But she is very persuasive. ROTFLMAO”
    And there was actually one “Like” point given to me. I think it was Anna, who knows it is the truth and would never lie. Right Angel?

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

    When you miss the bus, don't chase it you will get another one if you have patience

  • springheel_jack

    I've been watching the pound's rise with amazement. The prospects for the UK economy couldn't be worse. Gordon Brown will most likely go down as the worst chancellor in modern history. Uk manufacturing was left to wither away because we had oil and banking, the oil's running out, and they're now scaring off the what's left of the bankers with class war tax rises. What will the UK sell when they're gone I wonder?
    I'd have been harsher than S&P. God help the next conservative government. They handed over a sound and healthy economy in '97 and they'll get back a smoking ruin next year. Good old socialists. Margaret Thatcher famously said that the problem with socialism is that eventually you run out of other people's money. The US is heading there & the UK is pretty much there now.
    I'm very glad I found this blog. I have been learning a lot here, particularly about charting & shorter term trading. Soon I will be so knowledgeable that I may finally establish how much I don't know.
    I've been watching your morals policing with interest. Hang in there mate!

  • springheel_jack

    Glad to be here. A very good group on this blog.
    Good hunting tomorrow. I'm hoping to pick up after the gap is closed. Hopefully it won't run much further.
    This is a badly ailing rally though. Overvalued, running out of buyers, and as Richard Russell of Dow Theory Letters pointed out last week, buying pressure has risen during this rally without a significant drop in selling pressure. If this was a new bull market, that selling pressure would have been dropping as the buying pressure rose. I think that the bears have the advantage back for a while now. Sideways trading for a while until the next downleg starts.

  • katzo7

    Thnx. I cannot do anything alone about Washington and the banksters but I can try to clean up Dodge City.

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    Tokyo stocks fall on Wall Street losses, stronger yen (Roundup) – 17 hours ago
    Tokyo – Tokyo investors shied away from buying shares Thursday, sending the stock market lower

    after Wall Street's overnight fall and a strengthening of the …
    Monsters and – 479 related articles »
    Stocks fall after two-month rally? – The Press Association – 3905 related articles »
    US Markets Wrap: Stocks, Dollar, Treasuries Fall; Gold Rises? – Bloomberg – 60 related articles »

    Stocks hammered on troubling jobless data – Stocks & economy …
    Fear is creeping back into the stock market. This week's sell-off in stocks accelerated Thursday,

    with major market indicators sliding more than 1.5 …
    – 54k – Cached – Similar pages

    Is this the end of the bull market? Or are Green Shoots real?

    http://www.thestreet.com/opinion/….

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    Tokyo stocks fall on Wall Street losses, stronger yen (Roundup) – 17 hours ago
    Tokyo – Tokyo investors shied away from buying shares Thursday, sending the stock market lower

    after Wall Street's overnight fall and a strengthening of the …
    Monsters and – 479 related articles »
    Stocks fall after two-month rally? – The Press Association – 3905 related articles »
    US Markets Wrap: Stocks, Dollar, Treasuries Fall; Gold Rises? – Bloomberg – 60 related articles »

    Stocks hammered on troubling jobless data – Stocks & economy …
    Fear is creeping back into the stock market. This week's sell-off in stocks accelerated Thursday,

    with major market indicators sliding more than 1.5 …
    – 54k – Cached – Similar pages

    Is this the end of the bull market? Or are Green Shoots real?

    http://www.thestreet.com/opinion/….

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocks

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocksinteresting…..

    buy the dips!!

    Great day for stocksinteresting…..

    buy the dips!!

    Great day for stocks

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocks

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocks

  • standard_and_poor

    Will add more longs 870 -850 and take that bus to the bank if all works out.
     

    ________________________________

  • katzo7

    Ned's back, leftcOst.
    Alright, no more dating for Anna, just when we need her banning skills, she is out drinking and partying

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

    I've been watching the pound's rise with amazement. The prospects for the UK economy couldn't be worse. Gordon Brown will most likely go down as the worst chancellor in modern history. Uk manufacturing was left to wither away because we had oil and banking, the oil's running out, and they're now scaring off the what's left of the bankers with class war tax rises. What will the UK sell when they're gone I wonder?
    I'd have been harsher than S&P. God help the next conservative government. They handed over a sound and healthy economy in '97 and they'll get back a smoking ruin next year. Good old socialists. Margaret Thatcher famously said that the problem with socialism is that eventually you run out of other people's money. The US is heading there & the UK is pretty much there now.
    I'm very glad I found this blog. I have been learning a lot here, particularly about charting & shorter term trading. Soon I will be so knowledgeable that I may finally establish how much I don't know.
    I've been watching your morals policing with interest. Hang in there mate!

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

    Glad to be here. A very good group on this blog.
    Good hunting tomorrow. I'm hoping to pick up after the gap is closed. Hopefully it won't run much further.
    This is a badly ailing rally though. Overvalued, running out of buyers, and as Richard Russell of Dow Theory Letters pointed out last week, buying pressure has risen during this rally without a significant drop in selling pressure. If this was a new bull market, that selling pressure would have been dropping as the buying pressure rose. I think that the bears have the advantage back for a while now. Sideways trading for a while until the next downleg starts.

  • katzo7

    Thnx. I cannot do anything alone about Washington and the banksters but I can try to clean up Dodge City.

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    Tokyo stocks fall on Wall Street losses, stronger yen (Roundup) – 17 hours ago
    Tokyo – Tokyo investors shied away from buying shares Thursday, sending the stock market lower

    after Wall Street's overnight fall and a strengthening of the …
    Monsters and – 479 related articles »
    Stocks fall after two-month rally? – The Press Association – 3905 related articles »
    US Markets Wrap: Stocks, Dollar, Treasuries Fall; Gold Rises? – Bloomberg – 60 related articles »

    Stocks hammered on troubling jobless data – Stocks & economy …
    Fear is creeping back into the stock market. This week's sell-off in stocks accelerated Thursday,

    with major market indicators sliding more than 1.5 …
    – 54k – Cached – Similar pages

    Is this the end of the bull market? Or are Green Shoots real?

    http://www.thestreet.com/opinion/….

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    Tokyo stocks fall on Wall Street losses, stronger yen (Roundup) – 17 hours ago
    Tokyo – Tokyo investors shied away from buying shares Thursday, sending the stock market lower

    after Wall Street's overnight fall and a strengthening of the …
    Monsters and – 479 related articles »
    Stocks fall after two-month rally? – The Press Association – 3905 related articles »
    US Markets Wrap: Stocks, Dollar, Treasuries Fall; Gold Rises? – Bloomberg – 60 related articles »

    Stocks hammered on troubling jobless data – Stocks & economy …
    Fear is creeping back into the stock market. This week's sell-off in stocks accelerated Thursday,

    with major market indicators sliding more than 1.5 …
    – 54k – Cached – Similar pages

    Is this the end of the bull market? Or are Green Shoots real?

    http://www.thestreet.com/opinion/….

    ha ha ha rofl this is great…”we thought we were solvent”

    http://www.youtube.com/A465ghru

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocks

  • leftc0ast

    interesting…..

    buy the dips!!

    Great day for stocks

  • standard_and_poor

    Will add more longs 870 -850 and take that bus to the bank if all works out.
     

    ________________________________

  • katzo7

    Ned's back, leftcOst.
    Alright, no more dating for Anna, just when we need her banning skills, she is out drinking and partying