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Here We Go Again
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Here We Go Again

by The MoleApril 29, 2010

I had a late start today as I had a lousy night. First thing I usually do when I wake up is to grab my iPhone to look at Mr. Zero. I can’t say that I was happy to see the spike up this morning but I frankly wasn’t surprised either.

The signals we’ve seen on the Zero Lite for the past two days were almost textbook and strongly pointed towards a snap back. Remember when I told you to take profits on your short term puts on Tuesday? Well, I hope you did 😉

Alright, we are now finding ourselves at an inflection point for the bears. I had warned about letting this opportunity slide and it seems we are but a few handles from Bear Armageddon.

More below for magic ring owners:

We are yet again at the 78.6% fib line counting from the first drop down. Since Tuesday’s dip is near that I’d call that line good enough for government work. A breach above technically does not disqualify the green scenario – only new highs would do that.

The Zero Lite is flat as a flounder right now – usually a precursor to a big move. Which way it’ll swing I don’t know yet. Let me dig around for more clues and I’ll chime in shortly.

2:25pm EDT: While we are waiting for this market to make up its mind I’m parsing for symbols.

Here’s a first one – CREE – part of the Nasdaq – semiconductor stuff. I see it near the end of a retracement. Chances are that support line will hold up. Easy to go long around 73 set a stop around 70. Careful with options – if you use them go more long term as ATR on this thing ranges between 2% – 4%. It makes a good delta hedge though I think.

I’d set an alert for 44 on DRI – yes, it broke that trend line but I have an inkling it’ll bounce at that 2.0 BB, maybe half a handle before. Stop slightly below, maybe 43. This thing is slow – so no options on this one. If you are crazy (and have margin) you can sell puts – I personally do not and would not recommend doing that unless you’re a pro.

I wish this HCBK was a bit further along as my momo indicators point towards a snap back. But I’ll have to be purist on this one – best to wait for a trendline touch. 13 sounds like a good place to take out a small long position.

INCY (drug pushers) looks like a nice long here. We are slightly below a more longer term support line but it’s worth the risk with a stop around 12.5. But earnings are coming up – be out before 5/5.

I hate to tell you this but JPM looks like a good long here. IF it breaches then try again at 40. However, wait for a retest – I personally hate to chase.

And now for something completely different – because I’m in a Metallica mood today:

That’s one sick video.

Cheers,

Mole

P.S.: Damn it – Bearmageddon would have been so much funnier.


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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  • johnny

    if we break 80% retracement then bears will hv to wait for another time as these fucking banks know where a wave 3 can begin and how to stop it

  • marcopolo101520

    What is Bear Armageddon? Potential break to the 1260 target that you mentioned few days ago?

  • elliott_surfs

    Bank of Hawaii is currently at 53 and possibly forming a cup and handle. After just missing the DNDN move b/c I f*cking took the trash out, could someone take a look at BoH for me please? =)
    Feel free to laugh if I'm dreaming here
    http://screencast.com/t/ZGY3NzI5

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

    #
    Plunger Boy is awake – bulltards be afraid, be very afraid
    Flag
    EditReply Reply
    #

    * Expand ?
    * Verified
    * blogblog
    * twittertwitter

    molecool [Moderator] 11 minutes ago
    ¤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„¸

  • AlohaBear

    bank of hawaii won best bank in america for 09

  • nugie

    Probably one of the few that aren't really bankrupt.

  • elliott_surfs

    I could see us breaking that upper resistance and shooting to at least 55-60. Looks like a lot of room to move once she does…again, I'm probably dreaming =P Whaddya think, AB?

  • AlohaBear

    Hawaii very lucky lots of money from all over the world there being the mid point in the ocean and play ground for the rich

  • AlohaBear

    what is its call letters

  • elliott_surfs

    BOH

  • AlohaBear

    if it breaks above twenty day high buy and then start to aadd

  • johnny

    dax is not supporting this retracement , if a wave 3 comes by chance all hawaii and stuff will blow in a week's time

  • elliott_surfs

    much mahalo AB ! Always appreciate the analysis

  • AlohaBear

    what your feeling on X

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

    take wave1, break wavelet 4's B to a lower low, castrate wavelet 5 and push wave 2 beyond apparent .78

  • https://evilspeculator.com molecool

    Somebody please translate that for me.

  • Thunder44

    I wonder how many times you can find this pattern on the chart

    |————————————————-
    |
    |

  • fisheggs

    H&S Potential

  • http://colechambers.com c2

    Do any traders think the market will rally Monday if the EU and IMF announce the terms of the Greek bailout this weekend?

  • https://evilspeculator.com molecool

    Yup – something dramatic that leaves the bears yearning for more lubrication.

  • https://evilspeculator.com molecool

    News don't matter the second they are announced. All they are good for is temporary volatility – if you want to trade that.

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

    ladies and rats, the 1204 retracement (mentioned some days ago) was broken but still some fighting left…

    1206 (SPX) is now a prety ma… get under it and we take the day, bounce from there in a vertical takeoff and say hello to new highs

  • http://colechambers.com c2

    I like to trade volatility 🙂

  • bsummertime

    bidu is on a tear. distorting NASDAQ. buying a million RUT puts and a million INTC calls. bound to break in one direction in a BIG way

  • https://evilspeculator.com molecool

    What types of strategies do you employ? Ever dabbled in synthetics btw? Volatility deviations between puts/calls can be quite profitable if you know what you are doing. Personally I stick with the simple/stupid – meaning buying vega on tops and selling it at bottoms. Tuesday was a great example – the chances for vega to bust much higher from there were pretty contained.

  • elliott_surfs

    Tough call. On the daily, indicators look mixed but possibly a little more downside on X.
    http://screencast.com/t/YjQ0ZjVjMjI
    Looks like it's in a downward channel – all-time high trendline and fib-fan. If it breaks that lower line, I'd say look out below

  • https://evilspeculator.com molecool

    Seems to me that X is near the bottom of a downtrend – might still have a week or so to go. But it's not where I would initiate a trade.

  • Thunder44

    Yeah Iv'e been watching X also AKS,TCK none are coming along on this push.

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

    beats me

  • http://colechambers.com c2

    Nice Mole. Right now I only buy options (puts or calls). I don't have the bank roll yet to sell options, but I am trading to that as a goal. I have had some good luck trading near the money. I don't go out too far. Also I feel like I have been getting really good executions at TOS.

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

    BREAKING NEWS!!!!!!!!!!!!!!!!!!

    A man was seeing running naked in the woods.
    Based on the content of the valet he dropped when tried to avoid people chasing him he was identified as Bob Precther A-Hole

  • elliott_surfs

    Thanks MC.
    Birthday is comin' up, might have to spoil myself with a little ES Gold =)

  • https://evilspeculator.com molecool

    What you can do to limit your risk is to sell short term puts against longer term puts you want to keep holding when you expect a major snap back. Buying calls after violent reversals often backfires because diminishing vega will chew away much of your call's premium.

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

    CTRL+C stuck

  • Thunder44

    Mole can you give me that jing link again.

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

    very merry short since the very top

  • https://evilspeculator.com molecool

    Isn't it a bit early for the sauce, mate? 🙂

  • https://evilspeculator.com molecool
  • http://trading-to-win.blogspot.com/ DavidDT

    the group of spermatozoa running along to their destination. One tired with the face of Lloyd (and the same phisical abilities) shouting out loud: “THey lied to us! It is an ass!”

    Every single one turning around and rushing out. Lloyd looking one continues, does his business and says: “That is how God's work is getting done”

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

    it was Hoch?

  • spudthorpe

    If you're buying a million of each, either you are very rich or you are buying way, way out of the money. 😛

  • https://evilspeculator.com molecool

    Guys – check out AKAM – wow, far outside the 2.0 100-day standard deviation.

  • http://spychart.net spycharter

    I'm sure someone has pointed this out already, but just in case. Look at SPY on a 20 day hourly chart. It's in a growing oscillation pattern and we all know how those turn out. Furthermore it's eerily similar to the growing oscillation SPY was in back in January before the February correction. I'm convinced this thing resolves to the downside within the next 2-4 days

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

    X at 49 would be a nice spot?

  • Rightside_ot_trade

    /TF just breached .786 retracement of Tuesday drop

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

    Now is a time to break or PPT won the day… and it better break hard

  • elliott_surfs

    Does anyone use the mesa sine waves? Wondering what other indicator the MSW could be coupled with…

  • bananaben

    Getting close to 3:00. What if there is a ramp job to the close taking it to 200 pts on the DOW? I agree – we're at the inflection point right now.

  • https://evilspeculator.com molecool

    RELOAD PAGE!!

  • https://evilspeculator.com molecool

    Please post a chart, spycharter. jingproject.com

  • http://colechambers.com c2

    Thanks Mole. I am still learning the greeks so this is some great advice. Peace.

  • bsummertime

    well, maybe not a million, just a lot! GOOG calls too, to off-set RUT puts and SPY puts

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

    well then this leg up will be made on gaps or on overboughtness extremes

  • elliott_surfs

    what a gorgeous IHS on /NQ. so now what

  • AlohaBear

    wonder after 13 months of this if GS the market maker ever wants to make a market In his testamony the turd said for every long they have there is a short since we sold all are shorts does that imply that Gs owns all of them and is waiting to screw everyone on the way down

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

    ok, we had inflexion at spx 1209, now i want to see 1207 and 1204.5 broken and FAST

    K100%'s nice R(at)SI, just drop dead tape unless GOD has sent his f”$”#$ng little elves to do his bidding

  • AlohaBear

    Stainless nice

  • 2thguy

    yeah, i saw that earlier this morning. looks like a mega phone pattern to me

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

    second that

  • BobbyLow

    Well 1212 was Monday's Close so if we go through that all will be forgotten that brought the market down on Tuesday.

    Market has a memory span of an infant.

  • https://evilspeculator.com molecool

    RELOAD PAGE!!

    Hey, did everyone go home?

  • AlohaBear

    always trade from home and you

  • Thunder44

    Might get your 1204

  • Tronacate
  • Thunder44

    Nice metallica vid

  • derekste

    this selling action is nice. let's see some follow-through!

  • Rightside_ot_trade

    Mole
    major indices have all breached 0.618,
    My recollection is that the probabilities aren't very high now for another down leg
    (that takes out Tuesday low)

  • Onorio

    That´s what they want you to know…

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

    I mentioned bounce points that were likely and need to be broken

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

    btw, we just bounced from 1205 (updated value for my 1204.5)

  • https://evilspeculator.com molecool

    RELOAD!!

  • FranceHasTheBomb

    You can get around that “too early to drink” problem by just not stopping.

  • elliott_surfs

    f*ckin A lol.

  • Tronacate

    Bulltrap?

  • AlohaBear

    never seen one what does it look like

  • https://evilspeculator.com molecool

    Elliotticians disagree on that one. Personally I think it's context specific. For instance – take a look at the COMPQ – at 78.6% fib of P1 down. So, based on that the bearish scenario would be questionable? I have seen second waves go up to a handle or two from a prior top and then reverse – major shake out of bears. So, I can't give you a clear answer on that one, sorry.

  • BobbyLow

    Added both to my watch list. Thanks.

    I'm a little pissed at myself because I jumped the gun shortly after the candles broke though the the lower boundry of the Pennant on ZL at about 3:30 yesterday afternoon and I went net short SPY. Of course during the last 20 minutes there was a reversal and I held the short position through this mornings Gap Up.

    I trimmed my position about 3 hours ago and now have a net delta of +8 so my account is now frozen in time. So once again I sit here in total awe of this fucking casino.

    Otherwise, I'm have a fine day. 🙂

  • Rightside_ot_trade

    that's good, just controlling my r/r
    bullish price action is bound to cause overshoots

  • https://evilspeculator.com molecool

    Which part of 'take profits at 1180' didn't come through to your end? I plastered it on the chart mate!!!

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

    third time is a charm

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

    doji or >1210?

  • Tronacate

    so true…..nice call

  • elliott_surfs

    will these oil spill shenanigans help give us a little push lower? coulda been a gaff, but obama said he was “sending SWAT to investigate the rigs”. Someone, please help me understand how SWAT will help the situation.

  • Onorio

    ES has a textbook motive wave from the 1220 to yesterday 1180 low, at this point at least we have to get a down move bellow 1180 in the next days….this doesn`t mean we could not get above 1220, we could always have a flat.

  • BobbyLow

    The take profits at 1180 is unrelated to the Bear Pennant that built all day and broke through to the downside at 3:30 PM. This was a new scalp trade that I did at that point and I still believe that trade was valid (at that time).

    Where I fucked up was that I had time to take the trade off during the last 6 or 7 minutes before the close when the candles reversed. If I had taken it off I wouldn't have had to pay for this mornings gap.

    I Just paid more tuition on something I should have already known.

  • https://evilspeculator.com molecool

    Chart please!!!

  • https://evilspeculator.com molecool

    RELOAD!!!

  • amokta

    Specially for DavidDT, as i know he is fan of our friend & guru Bob P 🙂
    http://www.elliottwave.com/club/gold-silver/def
    about old & silver & ew analysis

    p.s whats up with silver, its behaving like a high beta stock

  • Onorio
  • Rightside_ot_trade

    makes no sense , won't hardly even consolidate like palladium
    I guess they think it is as good as gold as far as a place to stay away from currencies while europe figures out their bailouts?

  • https://evilspeculator.com molecool

    Thanks. Well, I could easily count the inverse – which is why I don't count short term.

  • Onorio

    Chart please!!! 😀 lmao

  • https://evilspeculator.com molecool

    I hate those flat days!

  • bananaben

    Anybody see any resolution? Wouldn't you know that the day I move big to the Russell that it goes up almost twice as much as the DOW.

  • amokta

    im just trying to use silver swings for scalping

  • https://evilspeculator.com molecool

    Fair enough:

    http://content.screencast.com/users/mmehrle/fol

    Now, before you laugh – comment on the chart. Your count has a much higher probability and a better look – but I have seen these short term counts which looked clear fail before. Which is why I don't put much stock in doing that (pun intended).

  • https://evilspeculator.com molecool

    No – this is nothing but a theta burn day for the bears.

  • Rightside_ot_trade

    me too, it is almost always good for a $0.25 move,
    even while I sleep

  • Onorio

    Mole…last year i`ve seen clear motive waves become corrections, so i would never laugh.

    Always good to share points of view and counts…im trying to keep my mind open these days.

  • https://evilspeculator.com molecool

    For the record though – your count looks good. Maybe there is a chance for Soylent Green. I just don't see any momo stuff supporting that right now.

  • Onorio

    Maybe Greece default tonight 😀

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

    bears are pussies

  • SpeedSkt1

    VIX giving a potential S&P buy signal here

  • raised_by_wolves

    An ($SPX/SLV) close (barely) below this 50% Fib of mine hints at a bullish short-term scenario for SLV. Tomorrow's open will be key. Will the ratio line continue pointing down or reverse to point up? If it continues down . . .

    http://content.screencast.com/users/raised_by_w

  • https://evilspeculator.com molecool

    Well, the first close down inside is step two. Tomorrow would be step three. Just the scenario I suggested two days ago.

  • raised_by_wolves

    The (SLV/GLD) move below and then above the 208 MA looks like a headfake to me. The question is, which sort of headfake will it be. . . .

    http://content.screencast.com/users/raised_by_w

  • Section_9

    The one thing going for the bears, copper prices. Were down almost 5% on the high volume down day, and today it is still down almost 1%. I think its one of the best indicators out there, just not sure how to incorporate it into the very short term.

  • raised_by_wolves

    If /HG is the bearish indicator du jour, then $TRAN is a big, bad, bullish a-dick-to-her. The bad news for bears is that $TRAN has made new highs. The hope for them is the possibility that $TRAN will fail to break out above this level. . . .

    http://content.screencast.com/users/raised_by_w

    Perhaps a good approach for bears would be to keep an close eye on bullish-leaning indicators like $TRAN.

  • amokta

    I have fever and headache, maybe i am suffering from Contagion?

    p.s. silver – difficult one to call, had a good up day, but couldd gap up further tomorrow, alternatively, could go down (hey im beginning to sound like Hochberg!)

  • raised_by_wolves

    In addition to being a theta burn day, I contend that it was an important day for realigning some ratios to support the next phase of the battle.

  • https://evilspeculator.com molecool

    Yup. As long as they keep running off after on dip it'll keep going up.

    Wait… that's us! 😉

  • Kudos

    I agree with what your saying, just putting it out there. Notice how in January when the HG held below the 50 day, which happened today, we had some decent follow through. It also was a good indicator to get bullish when the market turned in Feb.

  • raised_by_wolves

    True.

  • http://www.mylifemytrade.com MyLifeMyTrade

    I saw big block selling all day… Look for mega-dump tomorrow. 1192es min.. the bears will be spared the buy signal 🙂

  • raised_by_wolves

    There's also this 1 Year/Day VWAP supporting your case. . . .

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    Hey, you're beginning to sound like me too. Wait . . .

  • johnny

    Fed soothes PIGS oink; markets rebound

  • johnny

    pigs=portugal.ireland,greece,spain

  • johnny
  • n2thezonez

    Any big block buyers involved in those transactions?

  • jacksoo

    you were of the opinion that a fall was in the cards johnny – still of that opinion, from a higher high perhaps?

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

    well well well
    glad you started me up on that
    and…this is the end of the line for IYT
    expect may be slightly higher high tomorrow and voila – down it goes in ABC
    http://screencast.com/t/ZTQwZWM2ZW

    it always falls from new highs and rises from new lows – would not you agree

    congratulation bears – you survived

  • johnny

    fall did occured buddy but now the problem is that retracements are so huge that bears give way to new highs everytime.80% retracement of this fall is line in sand,dow has never given a retracement less than 61% in first leg of falls so todays recovery is no surprise .with gdp nos coming tomm a wave 3 down can trigger and then it'll follow point of no return but i am a trader so if it closes above 80% retracement tomm , i'll close out my shorts rather than wasting time in cursing banks and fed and wait for some other time.hope it helps

  • jacksoo

    that was it – -2%! shit! we may as well give up and just buy, buy ,buy…..

  • johnny

    1208 is level in snp futures ,11200 dow , if that breaks on closing then unfortunately shorts will hv to wait for 1-2 weeks more,this is game plan ,lets hope for the best,around 1% risk is not big enough considering 10-12% return go for it if that suits you

  • Tronacate

    Fractual………does it complete and we put in new highs?

    http://content.screencast.com/users/trona/folde

  • raised_by_wolves

    Adding the full chorus of BBs. . . . Notice the 52 week MA. Usually, $TRAN backs down or moves to the side after touching the top one. See 'em boxes? Every once and awhile though, $TRAN just keeps on bull charging. See the arrow? So, the question is, will this be a box or arrow situation?

    http://content.screencast.com/users/raised_by_w

    I would say that the probability favors a box here (most definitely) except what if . . . shhshsht shshsht shsht . . . are there or are there not flying saucers . . . shshst shst zzzzzzzzz wawawawawwwwaaaaaa. . . .

    http://www.youtube.com/watch?v=uFHwjjijm3U

  • raised_by_wolves

    Good eye, Tronacate.

    So, are you going to short on a break below the lower trend line and cover within two days?

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

    like that bridal dress…so many pinkish lines…one will work… (J/K)

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

    what happened to Italy?

  • johnny

    u can call PIIGS

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

    they might be running out of acronyms soon – UK, France and US are lining up

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

    new post (I don't post/crosspost links normally)
    http://trading-to-win.blogspot.com/2010/04/road

  • raised_by_wolves

    What the fuck am I saying? I mean my new 40 week MA, not my old 52 week-er. Old whores die hard.

  • raised_by_wolves
  • raised_by_wolves
  • bananaben

    I know news doesn't matter but what about this shit:

    http://www.bloomberg.com/apps/news?pid=20601087

    http://www.businessinsider.com/henry-blodget-th

    Guess FAZ will get slaughtered tomorrow.

  • http://www.portfoliotilt.com PortfolioTilt

    Nice mix of names there, CREE is one of my favorites. Definitely been a high flyer the past year.

  • http://retracementlevels.zstock7.com/ zstock, Pro Select!

    I wish you would do it more often! You have great material! ???

  • http://retracementlevels.zstock7.com/ zstock, Pro Select!

    ???MON chart, Possible $59.5 support…

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

    BPSPX and some others still not confirming this rise as anything more than a frightening correction (and ma13 was still too high up and in some cases there is room for some extra boost to trap bulls)

    enjoy a good rip to short

    CRAZY HAMSTER MID TERM OUTLOOK

    anyone wants to bet on SPX1000 for june opex?

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

    I want 950

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

    only if we drop everything in a week or two could we have 950, the lower bollinger on a centenial rat says 945 now and rises 100 points a month…

    sorry

  • skynard

    920

  • Tronacate

    Sounds like a good plan………just thought I'd throw it out for opinions

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

    bob's 920? not any longer available as a first drop

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

    well done cub, now you're full orthodox on centenial rat bands

    did you see why 40 is better than 52?

    and did you find a theoretical reason? Do people get a fix on the 9 month pregnancy time? beats me, but in TA there are others deffending a 40 week cycle with half bear, half bull

  • skynard

    OK, I'll go out on a limb here, If we impulse down tom then I'll go with 900 SPX. Huh.

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

    give me SPX 900 and there is NO PPT that can stop at least a double bottom at 666

    HAMSTER PLEDGE NO MERCY FROM 900 ONWARDS UNTIL 666

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

    BTW on the 40 week… back in 2001 an econometrics' paper on the NYSE (and i quote)

    “The exceptional frequency (corresponding to a period
    of 40 weeks) appears to correspond to no known phenomena”

    NICE!

    I found it by feeling it…

  • skynard

    Well, 62 0f the entire move is 877 ya know. Remember the fantastic fakeout @ 869?

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

    .38 of the entire move is 1030's (had forgotten some critical hamster adjustments so it has to be earlier than june opex )

    so far .38 is the maximum allowed retracement by PPT IMHO

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

    last but not least, i found 2 or 3 articles where 40 weeks is:

    inventory peak for new car models
    inventory revision on traditional retailers

    so I go for a “short term inventory” theoretical justification

  • yudhisthira

    Magic triangle in up vol / down vol still holding.
    http://screencast.com/t/ZjkxYmQ2YTEt

    Long way up back to upper line.

  • ricebowl

    If we go below SPX ~830, there will be no stopping at SPX 666. It's that simple.

  • bananaben

    If it doesn't correct here I see 1230+ SPX by mid June. Joke of a market could keep going for another few months.

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

    to be precise 662 is a lower bollingers and corresponds to BB with SMA468 weeks (2.618 deviation) that held SPX in november 2008 and march 2009

    would go nicely with my theory of missing w5 of P3

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

    higher (mole's 1260's seems right) and sooner

  • rosocecasita

    the chart I really like for following the PM market:

    (SLV*GLD)

  • rosocecasita

    I've been slacking:

    http://stockcharts.com/h-sc/ui?s=$NDXHILO&p=D&y

    If that isn't the biggest warning shot, I'm not sure what is.

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

    and it's the smoking gun of PPT,

    btw, the warning shot was just ben&friends showing what happens if they take the hand from under the market

    p.s. try watching from 2002 onwards…

  • raised_by_wolves

    Is that indicator as tradable as it looks at first glance? I know there's not supposed to be a Holy Grail, but is that it? Holy shit! By the way, I love indicators that drag along the bottom or top. It gives them a binary quality that I really, really like. Is that the way it naturally works sometimes, or is that the result of manipulation? Although most of the time there is just a short touch of the zero value, look how the $NDXHILO crawled across the bottom of the ocean floor in Autumn 2008. Hell yeah.

    Of course, I know what $NDX is. I assume HILO has something to do with high and low. Okay, so it's a 10 day MA of a record high percent index. I wish StockCharts had a paragraph on that same page explaining in greater detail what the chart represents. It would be nice if that paragraph weren't written by a human but instead computed for us. That way we could develop esoteric indicators of our own and have them explained. Most things that are explained in the world are widely used. Damn, am I digressing? Must be this psychoactive shit I'm mixed in with my liquid bread.

    So, the rally will continue, correct?

    http://content.screencast.com/users/raised_by_w

    See my arrows? Is that how you're interpreting it?

  • raised_by_wolves

    By already flatlining $NDXHILO, PPT is showing intent to push this market up again, correct?

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    Is it secret? Is it safe? 😉

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

    don't be lazy cub

    1. there's also $SPXHILO
    2. choose PRICE $SPX BEHIND and explain to this hamster how you trade this f#$ker
    3.open weekly since 2002 (no data before that) and see
    3a. how they had to push harder to reach break the centenial ma's
    3b. why this is another frightening “this was 2003” movie

    p.s. did you read my SMA40 weeks answers to you

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

    4. answering your question…. maybe, but fall ahead

  • raised_by_wolves

    The upper and lower BBs are using touched or briefly overthrown, the tape doesn't stay above them. This is very useful knowledge. Is that the practical chart-related reason you had in mind for why the 40 is better than 52?

  • raised_by_wolves

    Excellent work, Hammie.

  • raised_by_wolves

    Sick!

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

    of course! i had no specific theoretical reason for anything below 4 years, tried 52, didn't work, tried some others… 40 fit the bill perfectly

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

    after finding something it's easy checking if others did too

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

    why sick?

  • raised_by_wolves

    2. I choosing PRICE $NDX BEHIND instead . . .

    http://content.screencast.com/users/raised_by_w

    . . . Ah shucks, it's not a consistent leading indicator. I could have traded the big Autumn 2008 short, but I could have traded that without this chart.

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

    and check my discussion on a 1030's target by june…

    then check spx (nominal) on non-log both hamster bands and centenial, then think that since nov.2008 this is a channel, then think that march didn't go below 700, then think that .38 is the maximum mandatory retracement

    and then think and think only spx… no ratios, no ratios of ratios

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

    you didn't see the part of $SPXHILO….

    but yes, non tradable, minimums at new highs etc…

  • raised_by_wolves

    3. Good news: The mother gives you last chance exists. If you haven't already covered, you cover when the indicator hits bottom.

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    Lazy (though small) ass cub I may be, but I'm also under the weather and under the, uh, you know.

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

    WRONG

    don't ever see jupiter in an indicator without seeing some years

  • raised_by_wolves

    Sorry, I'm preoccupied looking for a good vein. While I don't see how to use it to enter trades, I do see how to use it for “last chance” exits. Please tell me you see that too, and it's not just because my mind is floating in the fuckin' outer dimensions right now. Did you know that I used to bring grasshoppers into the house? And did I tell you about my cat?

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

    Late
    Study
    Duties
    ?

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

    plain accident, and given what i said to rose you'd see that IF ppt leaves the room you'll see fixed 0 for a while, and normal ups and downs afterwards… go see longer history

    p.s. i picked grasshoppers and fed them to the ants
    p.p.s. had a cat…had timesharing cat… gone

  • raised_by_wolves

    RIGHT for the time period encompassing P1.

    See?

    http://content.screencast.com/users/raised_by_w

    If other indicators haven't already given you an exit (you may need one sooner), exit when this chart hits zero. Don't try to be a short and hold hero.

    Even here, if you went short at the end of April and were still short for some reason by the end of May, it gets you out without additional pain. I, of course, would already be out.

  • raised_by_wolves

    Timesharing cat!?! Meaning you rented a cat?

  • raised_by_wolves

    Okay, contrary to $NDXHILO, $SPXHILO looks bearish.

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    Under the influence. Drugs. Lots of druugs. Mixed togeether.

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

    at most you cover when you LEAVE zero, not on hit

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

    nopes, girlfriend had a cat, cat prefered me to registered owner, cat got canned of his petish position

  • raised_by_wolves

    On the weekly $NDXHILO I showed you?

  • raised_by_wolves

    A. What if anythhing are these HILO charts good for?

    B. Explain the smoking gun from the beginning, please.

    C. Any ideas how we read PPT manipulative intent ahead of time? Mole's programs recognize some of the patterns.

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

    both are about to make a cross that made 2004 a bearish year (or mixed year) but this tie spx is below the centenial that might hold it…

    DO CHECK MORE YEARS

  • raised_by_wolves

    During the summer before third grade, I taught my cat to be wild, and then I released it.

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

    hummm, connaiseur or just a gluton?

    wht's the cocktail?

  • https://evilspeculator.com molecool

    Okay, I looked at it – no offense but what is all the excitement about? How are you interpreting this?

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

    vertical lines and plateaus are not the work of nature, they're a sign of man

    check from 2002 to the present, in 2003 they gave a finger, lately we're being fisted

  • raised_by_wolves

    I entered Weekly Select Start/End Start 2002-01-01 End (today), but it won't display it for me.

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

    remove PRICE BEHIND

    if it fails use current date with 199 as year e.g. 199-04-30

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

    and yes, it's a 199, not 1999 for “today's” year

  • https://evilspeculator.com molecool

    CREE is a machine – would not dare to short that.

  • https://evilspeculator.com molecool

    How about FUUK

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

    Boss, I resisted presenting that acronym… that and for Germany, Austria, Yuguslavia

    HAPPY

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

    cub, i don't know the color codes for the molecules… but are they RC or real stuff?

  • raised_by_wolves

    Nice, the 199 as year hack made it work. Unfortunately, I also had to remove PRICE BEHIND so don't have that for visual reference.

    So, the 40 week MA is ridiculously high, approaching 100. If you were using this chart and nothing else, when would you short? When $SPXHILO itself crosses the 40 week MA?

  • raised_by_wolves

    Mole's awake at this West Coast midnight hour? He's probably on his Apple mobile product of choice. Oh no, he'll see what I'm like when doped.

  • raised_by_wolves

    I really need to stay away from the one's in the upper right hand corner. I imagine different doses of LSD, low, moderate, high, would take care of all my needs.

    http://content.screencast.com/users/raised_by_w

  • raised_by_wolves

    N is blue. O is red. Dark is C. Light is H.

  • raised_by_wolves

    Sorry, I was still coming off a high.

  • raised_by_wolves

    Nothing to see here except evidence of PPT manipulation. I could trade an RSI(2) easier than I could trade that shit.

  • raised_by_wolves

    Inside joke. We've found the Holy Grail (not) 😉

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

    try checking 2003-2004 as a clue… but yes, I might

    p.s. I'll delete the hack from our posts

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

    wouldn't touch the reds, haven't got hold of blues…

  • raised_by_wolves

    I feel like we just trashed this place. Should we delete everything?

  • raised_by_wolves

    Nitrogen is blue. Oxygen is red. Carbon is dark. Hydrogen is light.

  • raised_by_wolves

    Oh shit, the attachment is still there.

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

    on the first a cyanoethil… Dicyanoacetylene… is hoffmann in the house?

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

    just the part where SWIM was talking about a friend of a friend

    leave the HILO's and the rest that is trade related

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

    All clean, have to be leaving soon… someone takes over?

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

    secret is safe

  • raised_by_wolves

    which one?

  • raised_by_wolves

    wait, don't say

  • raised_by_wolves

    Are you on Titan?

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

    nopes, just on planet earth, but rocketing away to titan should be fun… though venus is a closer destination… and mercury not bad… the moon lacks charisma, justa satelite

  • raised_by_wolves

    I only slept two hours last night. I should try to get five or more tonight.

  • raised_by_wolves

    You can find carbon subnitride on Titan, lots of carbon subnitride. Well . . . so I'm told.

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

    well, the others should be arriving soon… i have to go and open the door for some works at my new place (had to wake early and didn't feel sleepy until late… when less than 3.5 hours i prefer not to sleep)

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

    btw, don't spread what i found out, it's a useful workaround for long charts

  • raised_by_wolves

    What does you wife think of your sleep schedule or lack thereof?

  • raised_by_wolves

    What workaround 😉

  • raised_by_wolves

    Or are you sleepless nights few and far between?

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

    she thinks something like… “could be worse”

    I usualy:

    a) go to bed with her
    b) make sure she's asleep
    c) make no noise
    d) prepare her breakfast before she wakes up

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

    but make sure you use it to gain perspective and make sure you cut the relevant part out when posting charts….

    p.s. use some hours to see differences and similarities between now and end of 2003- start of 2004

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

    tipicaly in waves… weeks at a time

  • raised_by_wolves

    I should primarily look at the cents, right?

  • raised_by_wolves

    Preparing her breakfast? You love her dearly, no doubt.

  • raised_by_wolves

    Sounds worse than mine.

    Later!

  • raised_by_wolves

    Can you trade your MAs? Also, try the 40, 208, and 468 MAs on the weekly.

  • bobthehorse

    Anyone out there?

  • jacksoo

    morning Bob – UK threw up a bit back – -news?

  • bobthehorse

    you mean the FTSE or Sterling?

  • jacksoo

    FTSE

  • amokta

    ftse has done a bit of a dive. but i thought it was US markets that lead trends!

  • chronographics

    Morning Bob, Evening here, welcome to the show 🙂

  • chronographics

    Whats going on now (last year) is not whats usual, perhaps for once the US will suffer because of trouble elsewhere rather than being the catalyst if we have another major leg down…

  • chronographics

    So now they are talking of restructuring the Greek economy
    http://www.cnbc.com/id/36865397
    if market doesn't get what its expecting it could be an interesting Monday next week

  • Onorio

    FTSE seems to leading down, the corrective move seems complete now…GDP should drive the market lower.

    Not all that it seems, is….

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

    sadly ftse looks ready for at least a bounce http://screencast.com/t/MjA4NWI2N

  • AlohaBear

    Mole's End of the Line was a great read shows that bailing out a little olive ( Greece ) is going to happen. Europe banks especially UK are all in a world of hurt they own so much debt like ours it is just a matter of time. GDP might not be all bad interest rates are still zero and there fore earning are good will wait on side line looking for twenty day breaks. good luck everyone.

  • Onorio

    Keep an eye on USD rats…

  • skynard

    GS getting crushed by this SEC suit. Anyone buy puts after they made the announcement?

  • AlohaBear

    No. but read about a lot of people that went long GS recently. You get what you deserves. Trading with the Devil

  • skynard

    HEHEHHEHEHE! You got that right. Was thinking about shorting since most securities that get tangled with the SEC get hammered.

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

    Declining Channel or Broadening Top?

    The overnight action has been very interesting on equities. We may be near the top of a large declining channel which looks best on Dow and Nasdaq this morning. The ES equivalenr has broken through the top slightly and is testing the strong resistance level at 1207.50. Here is the possible declining channel on the Dow:

    http://www.screencast.com/users/springheel_jack

    This could still go either way but in my view a break above current levels would open the way towards likely new highs, and I have an alternate scenario for that.

    That alternate scenario is that we may be forming a broadening top and here that is shown on the SPX daily chart:

    http://www.screencast.com/users/springheel_jack

    Despite the name, broadening tops are a neutral pattern, breaking down 50.3% of the time and upwards 49.7% of the time. They are also a weak pattern and frequently fail to make the target, which is the distance between the highest and lowest peaks within the pattern, subtracted or added to the breakout point depending on the direction of the breakout.

    Like quite a few patterns, that just means that they are most profitably traded within the pattern, going short at the top and long at the bottom, with a cautious long or short in the direction of the breakout when it occurs.

    As the top trendline is also the very strong resistance trendline on SPX that has now been hit six times without breaking, this pattern does look much more likely to break downwards though.

    At the same time that we have reached a critical point between bullish and bearish scenarios on equities, we have also reached a critical support level on USD. I posted a broadening ascending wedge on the DX 60min chart the other day, and while I redrew the top trendline after it fell short of my target then, the lower trendline remains the same, and we have reached it overnight. I have also drawn in the short term declining channel that has brought us to the lower wedge trendline:

    http://www.screencast.com/users/springheel_jack

    Either the declining channel or the wedge will break today. If the wedge holds then the next target for DX is in the 83.25 to 83.5 area, depending on the time taken to get there. If the wedge breaks then DX should reach 81.5 as the next declining channel target within the next 24 hours.

    As ever, if the USD breaks down, equities should break up, and vice-versa.

  • thelefteyeguy

    wait it's not going to $200? doh!

    http://www.cnbc.com/id/36820878

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

    hi bob, take a look some ten or twenty comments of mine before.

    why I don't believe your 920 spx target unless it's on the way to 666 again

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

    yes, for that 2003-2004 2009-2010 comparison watche the centenial rat

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

    mind adding the bollingers and call them their proper name? CENTENIAL RAT

  • skynard

    SPX backtest of 20ma @1199 coming.

  • FranceHasTheBomb

    That spike was the pre-release of the Chicago-PMI to subscribers.

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

    i love the smell of bulls pissing themselves in the morning…. it smells of… bull piss

    but then I see PPT and it smells of bears shitting themselves

    yes, they're in the house, this ramp was too early (no k0%, not even on fast rat)and too , it will lead to 1228 unless we go under spx 1204 soon

    vix is barely holding and must rise if we want bears to leave the “endangered species” list

    BTW bears are finaly fighting, this drop was strong and NOT from any K100%… it's “no stochastics please we're at war” DAY

  • Onorio

    Even if this is a bulish move, we should dip bellow 1200 before more upside.

  • skynard

    Agree, game definately on here.

  • lilme

    ?? Election ??

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

    give me 1200 and i give you 1180 spx

  • skynard

    It's coming, and thanks.

  • Onorio

    All we need is some panic now….bellow 1180 watch out bellow

  • amokta

    ftse remains at days low. rbs down.
    spx has had sudden viagra withdrawl symptoms

  • skynard

    P3!

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

    watch 1180 for rebounds

  • Onorio

    USDCAD flying hard!!

    +100 pips since this morning and counting, looking good so far.

  • gsavli

    finally!

  • skynard

    If it's a W3 it should bloww right by 1180 Hammy. What do ya think?

  • bobthehorse

    marvellous

  • fisheggs

    GS cut to sell SnP

  • johnny

    hello folks

  • skynard

    GS down over 7%. Kinda makes you feel good inside.

  • johnny

    bulls should go and pray to church , monastry synagogue and wherever they feel like , they will need it now

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

    bears are pussies

    good morning bea…. EaSsers!!!

  • fisheggs

    Wonder if the bears are gonna get lubed again

  • johnny

    snp is headed below 1100 now ,bulls should go and blow trumpets and yell wherever they can

  • skynard

    Hit that 20ma 0n the daily, bounce then………kaputso!

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

    if i hear someone mention P3 before 1000 i'll squeek

  • skynard

    Sorry!

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

    not. there are pause moments and retraces (at least to the downside)

  • johnny

    if someone thinks i am bluffing then go and see currency mkts and bond mkts before giving excuse of bernanke and banks

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

    nuh – they like it dry

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

    u beat me to that…
    I have that overwhelming feeling of human stupidity on 2 occasions
    1. when someone says “PeeTree”
    2. When I see huge stupid avatars at Slope Of Hopussies

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

    we must break 1180, anything short of that an PPT can “disguise” the end of w5 of 1 as a w2 of 1 UP and then push 2 to new highs on excuse that retracement >80%

    this is NOT wave 3, this is still w5 of 1 down with orthodox bottom of w3 at 1190, 1182 was B of w4

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

    BTW, forget “pure demark” and read my post answer to johny

  • jacksoo

    these SPX numbers SSH?

  • BobbyLow

    Morning Folks, I see the 10:30 Dip Shit Buyers are right on time.

  • amokta

    Whatever you say about prechter, he has an uncanny ability to time publication release dates (today ewt expected) for red days (so far)

    p.s. spx is only a few points down, it could easily go up faster than it fell

  • bobthehorse

    Mood on this board seems to have changed a bit – I seem to remember the thud of towels hitting the canvas yesterday . . .

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

    read my answer to johny

    (and my comment of some days ago)

    we must short @1204-1208 like maniacs they'll try and push it (and probably succeed) to 1207-1208

    if bears don't buy the disguise of that being “beyond 80%” (when it's in fact a normal 60's we'll enter w3 down with a vengeance

    MOLE please advise on this heretic view please

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

    ever heard of pavlov?

    here PPT used ramp tape and objects up sphincters…

  • bobthehorse

    I'd get flat again at 1190 ESM0 if we get there today. Failing that, will leave over the weekend. But either way, I expect to come in on Monday and sell it.

  • http://www.portfoliotilt.com PortfolioTilt

    CREE touching its 50 day moving average for the first time since early Feb.

  • amokta

    i really do feel we have reached peak oil today

  • Onorio

    My CAD short would love that!

  • Onorio

    If the bullish case is in, LOD has been placed.

  • skynard

    Well, 1180 would complete a real nice H&S pattern with a target of 1150. Tech & financials dragging this market.

  • Onorio

    We bounced at 50%…

    Bears should work hard here or else we will close on new highs.

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

    EVERYBODY CALM DOWN

    this is still a chop to break 1210

    there will be still another latter today or monday

    if we hold we get w3 next week

  • http://oahutrading.blogspot.com/ steveo77

    Short as I have ever been in 5 months, as of 10 minutes ago

    http://oahutrading.blogspot.com/2010/04/5-near-

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

    read my last comments… PPT still has 2 chances to trick us into mis-counting

    we'll just chop some more between 1190 and 1207 until one side wins

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

    Careful on the short side here. I have a rising channel on the SPX 5min that is looking pretty damn good after this morning's action so far:

    http://www.screencast.com/users/springheel_jack

  • bananaben

    With you hamster – heavily short right now, will deploy last TZA bomb around RUT 740 if it get's there.

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

    yes, but w3 of that channel is a fake to give a false target for w5

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

    May well be. Battle of the channels this morning. There's a larger declining
    channel on the hourly that I posted lower down.

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

    believe it or not… i have to leave

    think this is going to 1204 at EOD

  • Onorio

    FX movers :

    CAD is being hammered…now USDCAD +100pips from the open

    EURJPY where open after being up +100

    EURUSD is about the the same of EURJPY, an GBPUSD to.

    Guess people is moving to the old buck.

  • skynard

    And gold it looks like.

  • rosocecasita

    Oh yeah, its not a very good indicator, it was a “WHOLLY SHIT look at that shit!”

    Anyways heres another link:

    http://docs.google.com/View?id=dd6gf48g_40gr6dbvfc

    At the top of the page is the program I wrote to crawl FINVIZ and generate a report, I've included the source code if you want to compile it yourself instead. (top of the page.)

    if you have any requests for link to important charts let me know and I'll put them up there.

  • Onorio

    Gold seems to have started a w3, all times high are right arround the corner.

  • AlohaBear

    If End of the line content is analyzed 1945 fib is 1207 works nicely

  • skynard

    Old bucky is on a tear!

  • amokta

    at least the ftse and rbs are down – i place more value on these than the light-weight S&P!

  • rosocecasita

    to all the responsible and respectable citizens of ES (I can't find any consumers here): http://www.youtube.com/watch?v=QHFK1yKfiGo

    A fitting end!

  • Onorio

    Good news for all you bears out there…

    http://www.screencast.com/t/MWMxNzcwNjMt

  • amokta

    When a 'blue-chip' company like GMCR falls heavily, despite 'raised revenue targets', you know something is up

  • https://evilspeculator.com molecool

    No idea what you are saying brother – but I'm with you!

  • AlohaBear

    OK think we can start to see the hand writing on the wall everyone jumps ship before the fall. Notice over in the UK Mr. Brown's melt down ( some how caught on tape call out bigot ) does not want to get re elected; let mr. Cameron win the debat; has no intention of being around to take the fall. just like that McCain Palin team had no chance winning. Just a matter of time before we come tumbling down for today think we might be range bound between 1200.6–1206.6

  • https://evilspeculator.com molecool

    Heheheheheheheee

  • rosocecasita

    Bulls better buy the fuck out of 1200… you don't just come back to that if you let it slip out of grasp.

  • https://evilspeculator.com molecool

    Not sure why you guys are so excited. I don't see anything but a little early morning whipsaw and the dip was instantly reversed. Right now Zero Lite is clinging to the zero mark – and the signal strength this morning was moderate.

  • skynard

    That's the problem, all dried up.

  • skynard

    Sorry boss, like I said, seeing GS getting slammed did it!

  • rosocecasita

    Shanghai is falling past resistance levels?

  • elliott_surfs

    SteveO, if you're out there
    http://screencast.com/t/YzA2MmNj
    BOH looks like it's finishing it's handle

  • skynard

    You guys were definately right yesterday about it being a delta day. Nice call!

  • rosocecasita

    Yay for unjustified excitement!

  • rosocecasita

    a close above 18.75 invalidates the VIX buy signal; Correct?

  • skynard

    Buy signal meaning long equaties?

  • Onorio

    Hey Mole, remember the count that i posted yesterday?

    Check the link that i`ve posted bellow, about the FTSE.

  • rosocecasita

    Yes.

    Vix BB2.0 Signal system:

    1. Close outside the BB2.0
    2. Close inside the BB2.0
    3. Close More inside the BB2.0 then 2

    This generates a signal, Buy if from the top, sell if from the bottom.

  • rosocecasita

    Its moles & Berkshires awesome system they've put on ES a few times here.

  • BobbyLow

    I try not to get too excited about this market anymore. However just before 10:00 AM, I did buy a few June 121 Puts on the way down and sold 1/2 June 117 puts as partial prophylactic protection near the morning low against them and now own the these Long Puts pretty Cheap as part of a $4 Spread. I also bought a little CREE after I set an alert if it traded at 73. I (Thanks for the heads up on it) – I think. 🙂

  • skynard

    OK, so what would it take to close outside again? 21 or so?

  • rosocecasita

    yep, above 21, it would actually need to be Above 21 by some, as the BB2.0 will expand on a rise.

    But realize, the signal is not generated until condition 3 is satisfied. which is close back, in, CLOSE lower.

    We can actually ride the upper BB band for a long time, and not generate a signal, just like we can ride the lower band like we did the whole way down.

  • skynard

    Thanks brother!

  • rosocecasita

    Aye, to kick start this off, mole conjectured that we would see a Failed Buy signal as part of P3, and unless we rally back to below vix 18.45, this will be one.

  • ricebowl

    I just took back every last penny that those bastards took from me in the Spain downgrade kung-fu whipsaw when I was long, ignored the TA, sold the news, and got raped. And that's being nice.

    It's going to be a great weekend. See you all at SPX 1190.

  • skynard

    Way to go! Congrats!

  • bananaben

    Shit – we might actually get it right this time. Burn mother fucker burn!

  • skynard

    Hammy thought if we break 1200 that 1180 was the next stop. Filled the gap, let's see.

  • skynard

    TZA holding up nicely, we are going to 1180. Another rocketship on VIX.

  • BobbyLow

    Good goin RB.

    So far today I'm making comeback against the bone head plays I made when I had to leave early on Tuesday and tried to leave neutral. (When in doubt, I should have just went to cash) Coulda, woulda, shoulda. Then I bit into a head fake late Weds on a short and got screwed on the gap up on Thursday morning. 🙁

    I'm not going in big though until we get some decent confirmation. There's plenty of meat on these bones and there will be a lot left over when confirmation presents itself.

  • skynard

    All we need to top this off is the dollar to firm up.

  • ricebowl

    Looks pretty decisive to me. Still, good luck to you.

    BTW, from just a cursory glance at the chart, it seems like the LOD might be in. Really hard to say, though.

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

    bearopussies

  • skynard

    It's not over yet for today. If it gets back to 1200, I'd agree with you.

  • FranceHasTheBomb

    POZN is suppose to hear from the FDA today and it looks like a replay of DNDN. Someone dropped 500k shares on the market all at once, taking it from $12+ to $5.50 in a heartbeat. It has since recovered to $11+. Sucks for those with stop losses.

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

    I meant that we might (possible count) have another attempt to regain the 1204+ spx, that holding it even if they get it to 1207 is a must for a bearish count (mid-term)

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

    PONZi?