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Hamburger Hill
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Hamburger Hill

by The MoleAugust 3, 2009

The bulls are happy now as the coveted 1000 line has finally been conquered – it took quite a bit of pushing and twisting and they threw everything at it they had:

Okay, the bulls have it – so NOW WHAT?

A lot of air below – just saying….

10:48am EDT: As some of the rats already pointed out – there is a ‘cognitive dissonance’ between the DJI/SPX and the RUT/NDX in that they have not painted new hights this morning:

Question is – are you guys ready to load up on puts here? I have gotten my dick slammed in the door so often now I’m starting to like it 🙂

12:30pm EDT: Why we wait for this tape to pick a direction – here’s the chart of the day:

Sure, it’s a new bull market – uuhuuuhhh… Related reading – very good paper. And while we’re at it – as you know I’ve been all over the TOMO/POMO stuff for months now – excellent paper here on that subject and its effects on the recent finger of God in equities.

12:48pm EDT: Quote of the day:

Loosely said, ‘normal’ is a long way off. The market can continue to misjudge the future and go higher in the short term, without contradicting the state of decay the economy is in. — Adam Steinberg / Macro Research

Exactly right – a basic definition of what I expected to happen in Primary wave {2} back in early March (also see last night’s post).


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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