Soilent Orange

UPDATE 11:15am EDT: Told you rats to not fall in love with the bearish side of the force:

We should be running a bit out of steam around 900 but I’d be very surprised if the bulls would not attempt to claim this coveted mark sometime today or tomorrow – let’s remember they are small brained primates (i.e. < 1000 cm3) with straight rulers who are infatuated with round numbers.

Zero subscribers who write me by 11:20am EDT will get to try out something very cool – please put ‘Zero Toy’ in the subject line. Please don’t write me after 11:20am EDT.

UPDATE 11:20am EDT: That’s it – time’s up 🙂 The people who wrote me will get an email shortly.

My GLD trade has turned into an unmitigated disaster and this is where I had to cut the cord. Yes, we might drop right here and I’ll kick myself but it’s very much possible that this fucking churn will continue all the way through May expiration (and then probably drop). And yes, I could have turned those suckers into some kind of creative spread as Fujisan recommended but frankly I’m sick of this thing and wanted to get rid of it.

Good example of losing the battle in order to be able to win the war. It’s frustrating having to deal with a loss even though I know that the direction is down but my money is better used somewhere else.

Fair to say that I’m extremely miffed about this trade and I think I need some love – especially after I have worked my ass off all weekend. You know the drill.

UPDATE 11:56am EDT: Someone pointed out the CPC, which is simply outrageously low. But I generally fade the intra-day moves and stick with various MAs:

Is it me or is there some kind of fractal pattern happening here? Which would then mean a small swing lower and then a swing up. But the cycles are getting smaller – anyone any thoughts on this?

UPDATE 12:04pm EDT: Wohaa! Those are some fat green candles – 900 here we come?

I also find this pattern exceedingly interesting. As you can see we have been consolidating for well over a month. Remember that this is a more long term view – but it might be an additional indicator to time the approx. peak of Primary {2} of c – once those three MAs start converging a break might be imminent (a few months from now).