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King Dollar Stomps Eurotrash
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King Dollar Stomps Eurotrash

by The MoleNovember 12, 2018

I’m having a rather brilliant morning down here at the lair. Imagine my silly grin as I am watching King Dollar stomp all over the monopoly money they’re still pushing as a possible reserve currency on this side of the Atlantic. Honestly I fervently hope Merkel remains glued to her chair all the way into October 2021. Because if that happens the Euro is most likely going to trade at pennies against the Dollar. That is if I hold out this long over here as things are steadily starting to turn South on the Iberian Peninsula. In the meantime I remain long political drama and short the Euro.

Please tell me you took this long position on the 8th because my campaign instructions were rather specific. Despite a rather conservative stop this sweet puppy has already pushed to 4R MFE, allowing me to advance my trail to near 3R. And hopefully with more to come in the week ahead.

And here’s the EUR/USD in all its gory. Major breakdown below 1.3 which basically opens the floodgates and may get us back below 1.10 again. The only hope for the Euro at this point is an immediate and forceful bounce higher followed by a push < 1.16.

With Italy once again at the brink and Britain in political turmoil I don’t think the odds of that are very high, but that said let’s remind ourselves that common sense usually has very little to do with valuation. In other words, let’s not count our chicken before they are hatched.

Our USD/JPY campaign is also looking strong with my trail now at 1.5R and a possible break out formation in the works. To be frank however I think this one will take its merry time before it finally takes off. Which is fine by me as I’m a patient and discerning market megalomaniac.

Now since I’m double exposed on the USD side I just took a long entry on the AUD/USD. Possible floor pattern here, especially IF it manages to bounce > 0.73. This campaign addresses the fact that every time my smugness level is starting to balloon beyond its historic 2nd standard deviation the accumulation of a hedge or two has usually saved the day in the ensuing smack-down Ms. Market was happy to serve me.

Equities are starting to look a bit more iffy which I don’t really mind as I already got kicked out of my long campaign at 2771 and a little over 1R in profits. I was tempted to suggest a long position here but think it would be wiser to wait for a conclusion of this SL test. It very much looks like we are getting the Orange Pig scenario (i.e. inverted H&S) I talked about last week.

Crude continues to attract sellers and couldn’t find a bid in a white collar prison holding two fistfuls of pardons. I don’t think that we’re going to see much relief here until the 57.50 mark. In the spirit of full disclosure I should highlight the fact that I mused about a possible push into the 90 mark by the end of this year and obviously I was bloody wrong on that one.

Clown Alert

Which is really what we all should continue to remind us on a daily basis. Some silly clown wrote me an email last week insinuating that I was an idiot for being long equities. And today’s stop out shows he apparently was on the right side of the tape and I on the wrong one. Aside from an apparent lack of grace, class, and basic manners, what Señor Payaso is obviously incapable of understanding is that I don’t ever care about being wrong.

For I am the first one to admit that I don’t have a crystal ball and that there are others who may be better at reading the tape than me. But few people beat me at the game of playing the odds (outside of Vegas), which is exactly what this racket is all about. Trading for a living is an activity positioned exactly orthogonal to holding strong opinions about future price movements. It’s not that you are not allowed to have opinions, that’s basic human nature,  but you simply keep them away from your trading activities.

Once you learn this most difficult lesson of all, and by learning I don’t mean just intellectually understand but truly grasp and internalize it, then you are ready to proceed to the next level in your trading career. Unfortunately it seems that only a small minority of people out there are capable of doing so, over the long term leading to massive losses and eventually account blow ups.

Which is the very reason why the great Maker has put me, the lowly market mole, in place: To preach the gospel of trading survival, keep you guys on mission, and slap you around a little whenever necessary. An awesome responsibility but one I have embraced happily. Now go and sign up for a membership, you slacker!

 


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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  • Jason13

    Good stuff Mole….thanks

  • https://evilspeculator.com Sir Mole III

    Happy to!

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    2 Million Views
    https://www.youtube.com/watch?v=_QhuBIkPXn0

    I fold it once, twice…now it’s gone
    😉

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    ..chart for mSquare

    https://uploads.disquscdn.com/images/541bda055939542180fdab571c3778b4e6fcb0436d587728431a5cda1375c9c0.png
    long calls in a downtrend, Homie don’t play dat.

  • HD

    Hey Mole, all. It’s no “crystal ball” but I offer you HWB. 100% tradeable…..carry on…..

    https://uploads.disquscdn.com/images/0c81dd5365cc93b02fa30ebcf3e7d64a0e02045c5d0d10070669a80feedb5963.png

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    son of a biscuit. I *knew* I liked your charts.

  • HD

    SPX open 2773, -17 is 2756, mind those BOTs

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    it’s Veterans Day (observed), expect light volume?..

  • HD

    🙂 I have never tracked volume.

    It is a holiday though, enjoy and see you all later this week.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • mSquare

    Like and appreciate your chart – perhaps you misunderstand my INTC position.

    I am long stock from long ago and keep selling calls against it – this is my ‘longer term’ position. One of these days they will get a new CEOs or markets going up will move INTC higher (as more volatile NVDA/MU etc go down) take me out of my position …

    For a quickie trading position, last week added to my INTC core position with a short put spread (Short Nov 47.5P against long Dec $46s bought when stock higher).

    Essentially buy $46s and sell $48s till something gets it off that range.

  • ridingwaves

    Clowns are scary, they are usually late too….
    I might go long the spx at end of day….the RUT has all my attention though….

  • maxcherry

    bears going up an extremely bullish time frame

    from the week of

  • maxcherry
  • mSquare

    Excellent quote ‘Trading for a living is an activity positioned exactly orthogonal to holding strong opinions about future price movements.
    It’s not that you are not allowed to have opinions, that’s basic human
    nature, but you simply keep them away from your trading activities’

    A keeper for me …Trying hard to bottle-down own macro views / opinions and being a market-stoic is indeed difficult but surely needed to live off your trading activity…

  • Sp00nman

    Well, we filled the gap from the election day, we’ll see where this goes now. Nice price action just now.. went to the gap fill, up a little, then spike low through that previous low to taike out stops and up for now..

  • ridingwaves

    *Stocks are bought not in fear but in hope. No matter what the stock did in the past it assumes a new life once a purchaser owns it, and he looks forward to a rosy future – after all, that’s why he singled it out in the first place. But these simple expectations become complicated by what actually happens. The stock acquires a new past, beginning from the moment of purchase, and with that past come new doubts, new concerns, and conflicts. The purchaser’s stock portfolio quickly becomes a portfolio of psychic dilemmas, with ego, superego, and reality in a state of constant battle.

    *The public is most comfortable when they are sitting with losses, because if their stocks are down from where they bought them, they don’t have to worry about selling them. Once he’s got a loss, the typical investor is sure he isn’t going to sell. He bears the lower price because in his mind it is temporary and ridiculous: it’ll eventually go away if he doesn’t worry about it. So selling at a loss becomes absolutely out of the question. And since it is out of the question, and his mind is made up for him, the struggle of any potential decision vanishes and he’s able to sit comfortably with the loss.

    *To the public mind, selling is NEVER sound. It always conveys the possibility of being wrong twice: first, admitting that they’ve made a buying error; second, admitting that they might be wrong in selling out. And if the stock has actually gone up, they’re tormented: should they take the profit or hold for a bigger one? That creates anxiety, and anxiety breeds mistakes. But as long as they’ve got losses, and never have to decide, they can sit back comfortably and dream instead.

    *Through the entire market cycle lurks the fear of finalizing the deed of taking if from dream to reality by selling. BY not selling, by tightly holding on to his stocks, the investor never has to face reality.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    my bad.
    I thought you sold calls for the nefarious purpose of buying them back (closing out) at lower cost.

  • BKXtoZERO

    Sold crude play UWT for +1$, 23.9 to 24.96, just doesn’t look like the bounce I was expecting. Bird in hand rather than 3 in the bush. take it, take it take it. whatever the MKT gives I just take.

  • mSquare

    In general I only SELL options. Works better with time decay…

    Typically sell calls against position to get some yield while I wait or to hedge into earnings.

    Also sell PUTs or PUT spreads into volatile events like earnings to take advantage of vol crush – more reserved for stocks I do not mind going long but at a lower than current price…

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    High Yield 220 daily.
    the week is so young, but man – on the fence.

    https://stockcharts.com/h-sc/ui?s=HYG&p=W&yr=2&mn=2&dy=0&id=p6187380195c
    RSI 50 wins again.

  • randomuser6789

    I got long tvix this morning.

  • Darkthirty

    Still one more……ES target of 2530 + or – haven’t worked out timeframe yet

  • Julie 35 – 25 – 36

    SPX Yes ! Inverted head and shoulder still in play approx 2710. Watching SLV for a double bottom.(have a long position fom Friday) USO no position yet needs a bullish close above it’s 5 ema now 12.97 which is exactly today’s high
    JULIE

  • ridingwaves

    gap at 2682 spx seems to need closing…

  • Julie 35 – 25 – 36

    Hi RW Very true about gap fill SPX going below 2756 crucial for the Bears. Edge now in favor of Bears
    JULIE

  • Julie 35 – 25 – 36

    TLT from last night’s post previous thread target 116 – 117
    JULIE

  • BKXtoZERO

    I used up all by buying power last week, great results but now in T+2 wait for clear

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • BKXtoZERO
  • Wave_surfer

    Wow! What an air pocket! What news came out?

  • ridingwaves

    The town of Paradise, CA was wiped off the map by a fire on Friday…..31 dead and 100 stll missing
    power lines are the culprit….owned by ^

  • Julie 35 – 25 – 36

    SPX This is a very possible longer term objective i.e. an impulse down meeting the rising weekly 377 ema JULIE https://uploads.disquscdn.com/images/601cfca3d3d96e798681bf19625a5db067a26868d62947343d8d29dfdadf993a.png

  • bankwalker

    and our voting process is being exposed as a complete sham …

  • BKXtoZERO

    Good Old Andre just posted…. reading now. I always liked him. He is a good neutral observer, neither bull nor bear

  • Julie 35 – 25 – 36

    Hi BK What is his view oil ? I am still looking for a rally for a lower high to short i.e. throw the kitchen sink short. My husband always liked Andre too and I do also Thanks BK
    JULIE

  • Sp00nman

    Would you guys care to share a link? Appreciate it.

  • BKXtoZERO
  • Julie 35 – 25 – 36

    Chief …. Great Post As Always ! Thanks Chief !
    JULIE

  • Julie 35 – 25 – 36

    F showing relative strength. Impulse up from October 19. Over bought up into daily 89 ema 8.92 target for a pullback JULIE https://uploads.disquscdn.com/images/74c69469392786a82a03317d107ce75ff9414becf6a778be62a52e2cff079e57.png

  • ZigZag
  • ridingwaves

    really….

  • BKXtoZERO

    He is not convinced that the uptrend is over, letters 2 weeks ago were more specific

  • Ronebadger
  • Julie 35 – 25 – 36

    RW Sure am … 50% retracement down to weekly 89 ema. STOCHS 39,1 and MACD at level where a bounce can occur JULIE https://uploads.disquscdn.com/images/65896f53b40e7e1b5f283b133507c6cf6d87a91ed4c5fdc144f60bd05bf7389b.png

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    I went looking for the deeper issue – “are governments liable for fire damage?”.

    Apparently, PG&E is pulling in the climate change narrative. “it’s not our fault
    We can’t deal (or pay) for a global/pop issue.”

    Regardless of standing, this is going to get pulled/herded into the Courts.
    http://time.com/5359127/california-wildfire-liability/
    I’m shocked that there are dead citizens over this, but one could argue the same over the Ford Pinto.

  • ridingwaves

    ? not on oil per se….

  • https://evilspeculator.com Sir Mole III

    I do it only for you, Julie 😉

  • ridingwaves

    no, PG&E is a for profit enterprise, they are essentially putting all the risk of not cutting trees near power lines on Californians…..they sponsored a bill to do just that and it passed…..so many sheeple in this state, its going to be an epic collapse here

  • Sp00nman

    Longer term chart of the dolla. Could be topping soon, would certainly help my gold position. The concern with gold though is if we do see new lows on the indices I’d expect gold to head lower rather than higher as people look for liquidity. https://uploads.disquscdn.com/images/cf67821c263ce84510f3a29d27722f426738643662028fe5f1e3dc1e10b2d22f.png .

  • Julie 35 – 25 – 36

    It’s the Banks guys … The Big Dog BAC …Last week I stated to watch the failure overbought at the confluence of the 55 and 233 ema’s with a MACD center line test. $BKX and specifically BAC are the secret sauce. SPX will not go up without the participation of the Banks JULIE https://uploads.disquscdn.com/images/447219ef2d17c59d7786fec1a74e2192c61b6e329edf421187a3ae8692c0c7d0.png

  • Sp00nman

    So why aren’t they cutting trees? Is it the cost factor that PG&E doesn’t want to cover?

  • ridingwaves

    they already blew up San Bruno via aged gas pipe, payed out a lot, thus they are retrofitting all gas lines in the city where I live, costs are overriding incremental consumer increases allowed by State gov. to make up for the blunders…now they are trying to get out of maintaining lines…its very convoluted

  • Julie 35 – 25 – 36

    I love this market … Just one trade in the red … SLV (long from Friday) and will hold for longer term. In fact going to accumulate at this level per previous comments
    JULIE

  • ridingwaves

    the mission is too destroy all miners and buy them at pennies on dollar…..with rates going up their plan is working great by looks of it…..kind of like housing 2009-2012, wipe it out and let PE buy cheap…..

  • Darkthirty

    ES 2515 on the 27th ?

  • ridingwaves

    example SLW-WPM, started buying it at 3.50 in 2005, sold it much to early at 32 with trailing stop, it did what it was supposed to do…no complaints…
    I think they are going to take it back there to that level or just above….
    https://uploads.disquscdn.com/images/7686adbbe21ca759a865e73127c3388dba83b390172cb9c05131fdac8a28dace.png

  • Brishort

    For agile short term traders: currently watching zero divergence on 5 min to see if breaks in the abyss or bounce material ES 2733

  • Julie 35 – 25 – 36

    RW SLV Double bottom attaining price objective of broken descending triangle with RSI and MACD positive divergences. Not shown is weekly ACCUM/DIST positive pattern. The Big Boys are accumulating at this level and I am joining them JULIE https://uploads.disquscdn.com/images/ffcfa7e0a18866adf150fc9307050c0c50c5377cfa8ed97206f7ba1ecf5589c0.png

  • ridingwaves

    or they are distributing and about to push it below your line……with rates increasing…that seems more likely, dollar not helping either…

  • Julie 35 – 25 – 36

    RW … A very important retracement is 0.8541 that people or sheeple that you like to use do not know about. SIL (silver miners) comes to approx 21. SIL approx at this time 22 and change.Very important level
    JULIE

  • Brishort

    Children scaring move into 2732. Looks like tradeable bounce now at hand

  • Julie 35 – 25 – 36

    Brishort Positive divergences on 10 min but not on 60 min
    JULIE

  • BKXtoZERO

    Don’t get married again Julie. Silver is not worth it. I love silver but it has been a real dog. I …with RW also expect another breakdown

  • http://iberianviews.blogspot.com/ catracho

    sell strength..

  • Brishort

    Thanks!. Trading short term divergence with VIX movements. Very agile short term trading… holding periods in minutes. Targets: about 15-20 points.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Back from lunch..
    I should have went with the T.

    https://uploads.disquscdn.com/images/a423fe7f7c198496aa85426f895b980c48bd252103109e26f2a7c8401af618cb.png
    Do you think they have a plan?…or just make it up as they go?
    😉

  • ridingwaves

    gap 2680….it would be better for bullish run thru rest of year if this was closed, if not….sideways to bearish is the game

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb

    yeah, it was two gaps on the way up.
    but then someone made the comment about the one NOT getting filled back during the Civil War…and… 😉

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    Guys SLV I bot some Friday Not even down 1 % Going to buy a little at a time like the big boys do. Julie running with the Big Dogs on SLV. IMO accumulating small positions at this level is the thing to do.per charts and comments. Not accumulating blind … Going to follow a plan
    JULIE

  • maxcherry
  • http://gerb-reloaded.blogspot.com Gold_Gerb

    yeah, I had a plan at $26, when it was $35.

    then I had a cost average of $21 plan, when it was $18.

    believe me. pounding table. $13 is coming.
    😉

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    *that’s* the one.
    The somalia civil war.
    😉

  • maxcherry

    i remember a lot of traders thought that gap had to be filled.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    and probably came to mind at the descent of the 97′ asian flu crisis.

  • ridingwaves

    yeah, who would cater to illegal aliens over veterans and poor citizens…..

    its a huge fucking disorder of some kind…..I had a bet out for all my liberal friends for $200 on anyone that could show me how they are housing, feeding, schooling, jailing and paying for these money suckers from all over….

    still not one taker….

  • Julie 35 – 25 – 36

    GG Love 13 … 13 is a fib number !
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    so don’t be stubborn.
    hedge till 13. use the profits to double down.
    LOL.

  • maxcherry

    the only people that thought that were the elliotwave perabears looking for their elusive -80% down P3

  • Brishort

    Vwap tagged, all longs closed. Zero pointing weak close on the docket. Retesting the day’s low may not hold at current velocity. down.

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    Guys … I just received a call from Warren Buffett. He is buying eight junior silver miners next week One in GG’s back yard LOL!
    JULIE

  • BKXtoZERO

    Mole BTW… glad you are happy!

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    come now, you know he abhors the stuff.
    ‘we dig it up, and then store it in vaults’.

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Most men connected to French women are.
    😉

  • BKXtoZERO

    is that a shoulderer?

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    some do, I don’t.

  • Brishort

    3rd vwap tag of the day in downtrend day. negative divergence on 5 min.

  • TimeToPanic

    I have the 200w moving average on NQ and a gap unfilled down at 5429. That’s where I think it bottoms, later this week hopefully.

  • Brishort

    WOW, balls to the wall numbers!!!!!, a full 21% below!… would clearly be the least expected scenario in an opex week….

  • Julie 35 – 25 – 36

    TTP I posted a chart below … Longer term objective SPX very possible
    JULIE https://uploads.disquscdn.com/images/601cfca3d3d96e798681bf19625a5db067a26868d62947343d8d29dfdadf993a.png

  • Yoda

    that’s an opinion

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Brishort

    Hummm. 3rd tag of the day’s low. Nice bull-bear fight here… Inconclusive intel : close too close to call!

  • TimeToPanic

    In honesty, I’m not expecting it. More likely is a 1.618 extension of the high-low move to date at 5893.

  • TimeToPanic

    NQ Fib at 6836, last one before a re-test of the lows.

  • http://iberianviews.blogspot.com/ catracho
  • Julie 35 – 25 – 36

    60 min 13,1 STOCHS embedded Go to a 60 min RSI (30) with a 6 front weighted moving average. A cross above bullish Also below 60 min VWAP which is down trending Tough sledding long here
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    USO 40 weekly,
    I’ll hold judgement till next week.
    https://uploads.disquscdn.com/images/5e8895f6983c72956a83489d8b305bdb0e7a10f314a44c6aee880e0932dee8cf.png
    (it could be this week, if you offset it all by a week)

  • TimeToPanic

    Dollar v Euro.

    Only one winner down the road.

    The Fed or the ECB.

    How much in physical gold reserves does each of them hold behind their paper money? To the nearest billion in value.

    You’ll be surprised.

  • randomuser6789

    There are no triple bottoms. Certainly not a quad bottom.

  • http://iberianviews.blogspot.com/ catracho

    Crude might be on the final short term wash out…
    watching

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    time check.

  • http://iberianviews.blogspot.com/ catracho

    Selling off at close not good action

  • TimeToPanic

    It is if you’re short. 😉

  • https://evilspeculator.com Sir Mole III

    Brishort is now officially our Zero expert 😉

  • Brishort

    OMG, leeches beware!! took me 10 years of membership to get 7 words of recognition. Shooters!!!! :-p

  • TomW4

    @TimeToPanic,

    You made a comment on the “Midterms 2018” post:
    “ES regained its rising wedge today, I reckon a pop to 2815 Fib tomorrow on a Republican sweep, then it fizzles, then I think we go to new lows, quite a ways below what we’ve seen so far this year. 2350-2390 is my target.”

    Do you still believe this scenario despite the democrats taking the house?

  • mSquare

    Not too many (non-institutional) traders go short – especially not those who are long stocks and funds (v/s those into futures and currencies)

  • TimeToPanic

    I don’t think the elections will alter the course of these markets at this juncture.

    It’s not far off 3 years since the trendline out of the ’09 lows has been touched, plus the 200W MA is down there too. I have no idea if we’ll get that far down, we’ll see, I won’t be surprised, as there is still nothing but complacency amongst the bulls. At worst they think this is a re-test of the lows.

    FWIW the trendline is at c. 2250 this week.

  • TomW4

    Thank you for sharing your thoughts. Your scenario is nailing it so far and it’s awesome how early you called it! 🙂

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    ROFL.
    MasterLeech GG is amused.

  • https://evilspeculator.com Sir Mole III

    It’s like the Medal Of Honor, most recipients don’t live to actually receive it 😉

    https://images-na.ssl-images-amazon.com/images/I/A1Nb7PF7XfL._UX385_.jpg

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    GG SPX may have a bounce tomorrow. A 50% retracement matches the approx 2708 support for the inverted head and shoulder pattern to play out.The bounce if occurs will be https://uploads.disquscdn.com/images/4ff0814a820279e44b449da941301fc7a16dda8d37b47683da1fe5c33535f6c7.png IMO a lower high relative to 2815 JULIE

  • Julie 35 – 25 – 36

    GG One item of importance The advance from 2603 up to 2815 was corrective i.e. 3 waves. So far the decline Thursday- Friday and today no wave overlap suggesting a corrective decline SO looks impulsive so far ! Bulls Beware ! The Chief’s Red Pig Down I am in agreement
    JULIE

  • Julie 35 – 25 – 36

    PHEW! I thought Amazon would pick Bozeman for their second headquarters. They have chosen NYC I was worried for awhile. Good Grief Amazon can go anyplace but Montana ! You can have em !
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Retail is dead.
    We are all going to be walking around like in Survivor.
    Naked & Afraid.

    https://moneywise.com/a/big-chains-closing-most-stores

  • Julie 35 – 25 – 36

    Hey GG LOL! Hey I may have found a play when IBD issues Follow thru and rally MLNX SCTR 90 ACCUM / DIST broke above a downtrend line CMF is positive with OBV rising A 52 week high too a few days ago. A breakaway gap and climbing above it’s 5 ema. Stocks that outpreform during a correction will usually skyrocket during the next rally GG MLNX
    JULIE

  • Julie 35 – 25 – 36

    GG IMO Yup !
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Yes. I’m aware of the philosophy.
    It was mentioned back in 2008/09 on the radio.

    You should be aware that the SnP is UNDER the 200ma.
    the next rally may be short lived.

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=3&mn=0&dy=0&id=p6065329413c

  • Julie 35 – 25 – 36

    GG I am in the camp of “Bear Market” Bull market is over GG
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    GG There is going to a lot of pain with this one. A lot of people are going to be unemployed with house prices tumbling. California is really going to get nailed with home prices. RW on target with that As with usual recessions the West will be hit harder than the East and South Seattle – Portland – San Francisco and L.A are really going to feel pain. Not going to be a laughing matter at all. The nation will survive and be better because of it. The younger generation is going to learn some very valuable lessons
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    Agreed.
    However, can I take liberty to say it’s the wealthy with puffed up profits and fake GAAP earnings that will be washed away.

    The masses have already suffered.

  • Julie 35 – 25 – 36

    GG Great observation ! A complete reset is coming
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb
  • Julie 35 – 25 – 36

    GG Also the expression “The Turn Of The Worm ”
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    time to lock and Load then..

    https://www.youtube.com/watch?v=4-a2hD4Nn68

  • Julie 35 – 25 – 36

    GG Also what occurs during severe recessions … People that are unable to find a job return to school. University enrollment soars creating even a more educated work force. There are positives with hardship
    JULIE

  • http://gerb-reloaded.blogspot.com Gold_Gerb

    if you say so.
    Master’s Degrees in Basket weaving don’t really do much, except line the University Administrators pockets. $$$
    🙁

  • Julie 35 – 25 – 36

    Another topic GG High Tech esp Intel (evil empire) Microsoft and a host of others. What a ploy they pulled off H1 – B with a dearth of skilled high tech workers.There was never a shortage of high tech workers in the U.S.The U.S. is where it all began and every university and college has computer science and related degrees. They pulled it off the Bastards. That is why I left Intel and High Tech never to return. I believe Our Chief did the same
    JULIE

  • BKXtoZERO

    Lots of bear celebration here and posts below…. ye never know….

  • https://evilspeculator.com Sir Mole III

    “California is really going to get nailed with home prices.”

    “The younger generation is going to learn some very valuable lessons”

    Soooo…. good news then? 😉

  • Sp00nman

    I agree. The problem I see is that everyone just goes back to school for an MBA or law school. To be a lowly worker bee is looked down upon, but we need those people. Trades are frowned upon and the “work smart not hard” bs line has pushed everyone to college in basket weaving vs. other things.

  • Sp00nman

    One problem I see is that a lot of bright people end up going into finance (because that’s where the money is). Friends of friends who went to top tier schools in CS/engineering fields get into finance rather than staying in CS/engineering. Clearly you seem to have as well Julie.

    I think we have some other deeper rooted problems in this country. We aren’t willing to be patient/invest in workers. No one wants to train anyone these days. They want you to come in and make the company money. It’s all about quarterly earnings, especially with big companies. Investing in workers is expensive and “hard.”

  • Mark Shinnick

    …maybe too much.