Trashy Tuesday Rub Down

Glorious day for the Zero:

I need to raise the fee on that sucker! Just kidding 😉

Signals were clean all day – only barely scraped the zero mark in the morning but it was clear that the trend was down until the turning point. The only hickup I see is pointed out by the blue arrow on the Zero Lite. But we soon swung back up and breached the zero mark for a long ride up.

BTW, Soilent Orange might actually play out as the futures pushed up hard in the last 15 minutes of trading. I however have a hard time counting the little Minuette degree drop at the close as an a-b-c, so I’m really not sure at this point. Breadth ratio on the SPX at the close was 1.6:1 declining – so it’s probably smart to hold on to all puts until the Friday highs have been breached.

I might chime in later today but as I have provided a lot of material I might just take the evening off as I and Mrs. Evil are not feeling so great.

BTW, I’m actually thinking of banning Lester – not because he’s a bad guy. But I have a feeling that this blog has become his support line to the market and he’s got an obvious gambling problem. It might actually be better for him to lose his remaining funds so that he is forced to move to the sidelines. I also recommended him to seek therapy as he’s way beyond the point of ‘friendly advice’. If you treat trading like gambling it can quickly become an addiction, which is why I have drawn clear lines in my own rules. That and I’m fortunately not the gambling type – I’m Vegas’ worst nightmare actually. I go and put one quarter in the slot machine and then walk away to chase some hot Vegas babes 🙂

Lesson for the rest of you rats: NEVER EVER trade with borrowed funds – that’s guaranteed to blow up in your face.

UPDATE 4:35pm EDT: Quote of the day:

Tell the rest of the whiney bitches to butch up. — Lawrence (a subscriber)

SNORT! 🙂