Working through the final hour of trading today, you have to wonder who is truly getting trapped here–Bulls or bears? On its face, it seems like another pathetic loss for bears after the cratering futures last night and comeback today. But that conclusion may be almost too easy to draw, and perhaps bulls are about to step into a trap of their own.
To be sure, the overall trend remains clearly higher on an intermediate-term timeframe (weeks, months). I have my strategy in place for a market where the indices go sideways or drifts, which would be just fine for the bulls at this point.
What say you about the traps? Chime in, below.
Speaking of hustles, Austrailia’s largest casino just got knocked over for tens of millions, in an Ocean’s 11 type of gambit:
Australia’s largest casino has been scammed out of a reported $32m in an Ocean’s Eleven-style heist.
Melbourne’s Herald-Sun newspaper said a foreigner staying at the Crown Casino used the venue’s own surveillance cameras in the sting.
The paper claims information taken from the high-resolution cameras was apparently signalled to the high roller as he played cards – a similar method to that used by George Clooney’s character in the crime caper.
In the 2001 movie Brad Pitt and Clooney recruit someone familiar with security to rob a series of Las Vegas casinos.
Crown said a member of staff in the VIP gambling area had been sacked and the patron involved banned after the scam was uncovered several weeks ago.
Victoria state police said they had been informed of the incident.
Deakin University’s Linda Hancock, who has written a book about Crown, said surveillance cameras were throughout the casino but even more intensified in the premium areas.
‘There’s someone in monitoring rooms looking at them in real time,’ she told the broadcaster ABC.
‘So they must have picked up that there was a winning streak here that looked suspicious and zoomed in on it and then been able to look at what was going on in real time in the room.’
Wow, first bears got scared out of their shorts. Now it looks like bulls are getting taken to the cleaners. The market is just like a big whore house. Everyone gets screwed.
hahah nice