This is the softest crash I’ve endured all week. What kind of shit is this? By now, I am accustomed to BIG moves. I was hoping to see 10-20% down, just for the sheer entertainment value of it all. Instead, I get this shit?
WTF!?!
Anyway, there is marginal strength creeping back into ag names, specifically The Mosaic Company [[MOS]] . Also, there is a bunch of other shit going on; but who cares?
I am just really pissed off that a giant shark did not bite off the head of Joe the Plumbers pension fund and send that fucker seaworthy. This is alarming.
God willing, the margin clerks will “school house” the idiots who are buying this dip.
My position, as always, is long commodities, short banks.
In the meantime, here is a fine tune for you clown fuckers on Wall Street to enjoy, prior to the 3:00 margin call hour.
[youtube:http://www.youtube.com/watch?v=fB5tbTpQvsM 450 300] If you enjoy the content at iBankCoin, please follow us on Twitter
Wait for it.
I’m still long and strong… and confused.
Actually, you are long and weak.
PM stocks going green
can anyone say ‘coordinated global rate cut’?
A pause that refreshes the bulls, just before the slaughter.
clink…..clink…..clink…..
Your attention, please! Your attention, please! The market meltdown has been cancelled. I repeat,…the market meltdown has been cancelled!
You can all go back to your bullshit conversations and gay trading techniques.
Oh, and……buy the banks!!!
Thank you.
Fly – you have Citadels holdings? I heard the Feds paid them an unfriendly visit last night … they are rumored to be levered 15 to 1.
God willing, NOV and MOS will gap up.
God willing, so will SKF.
Can both happen?
Developing…
This is just way too orderly.
Juice there isn’t going to be a global rate cut today. 100% sure . it’s too late.
http://www.clusterstock.com/2008/10/citadel-says-fed-raid-rumors-are-categorically-false-
who knows .. who’s lying here?
Sellers wash up. We go appreciably higher from here. Get the fuck in this mkt or you’ll be standing around holding your dick in your hand while others are printing money.
Get your cocaine ready. Te market is pulling a Woodshedder.
Dip buyers are everywhere, I thought their tribe was almost extinct. Their numbers are certainly smaller. How big is that tribe?
If ECB does cut 100bp mid day, I would not want to be short.
tell me why the bond insurers are running up – some kind of Tarp injection upcoming??
CAP must be busy sucking his own cock to get this kind of bounce.
Microsoft down a nickel!! you asswipes are going to throw global crash in my face and subject me to this gay jamboree, because thats all this is…who brought the marshmellows??…and don’t say CAP!
Top holdings at Citadel
COMCAST HOLDINGS CORP ZONES CV2% PCS $8,885,975 $0 0.00% 253,885,000
TRIBUNE CO NEW SB DB EXCH2%29 $3,759,660 $172 0.00% 153,455,500
GENERAL MTRS CORP DEB SR CV C 33 $3,706,382 $490,500 15.25% 680,070,000
GENERAL MTRS CORP DEB SR CONV B $1,092,026 $671,621 159.76% 195,004,700
GOOGLE INC CL A $195,752 $72,058 58.25% 555,609
MICROSOFT CORP COM $189,771 $189,771 New 8,502,290
COCA COLA CO COM $138,430 $111,736 418.58% 3,214,818
LIBERTY MEDIA CORP NEW ENT COM SER A $135,426 $15,634 13.05% 7,729,779
EXXON MOBIL CORP COM $134,900 $46,005 51.75% 1,916,469
VIACOM INC NEW CL B $133,807 $42,685 46.84% 7,224,994
NEWS CORP CL A $130,581 $22,737 21.08% 14,509,007
GENENTECH INC COM NEW $121,693 $72,643 148.10% 1,485,871
KROGER CO COM $108,240 ($63,220) (36.87%) 4,014,824
CME GROUP INC COM $104,736 $104,736 New 377,210
CELGENE CORP COM $96,629 $83,720 648.53% 1,664,582
COVIDIEN LTD COM $95,390 $19,473 25.65% 2,217,866
UNITED PARCEL SERVICE I… CL B $94,505 $68,470 262.99% 1,963,542
APPLE INC COM $92,122 $63,159 218.06% 937,820
KELLOGG CO COM $84,612 $84,326 29,481.80% 1,695,629
SCRIPPS NETWORKS INTERA… CL A COM $83,586 ($2,798) (3.24%) 3,418,631
I think this a long term orderly liquidation…who knows when it will end…everytime I try to value buy the shopping list the market gets a haircut….oh well I’ve got my market neutral game on with boat loads of cash…..
“God willing, NOV and MOS will gap up. God willing, so will SKF. Can both happen? Developing….”
The answer is ‘yes’, now that over half of Wall Street will be joining the agrarian economy.
Good one Alph.
How many miles have you run today?
thanks Fly
just spoke to a friend at a large hedge fund …he says he spoke to someone at Citadel & the Feds were indeed there last night & in no mood for fun and games
What would a VIX 100 look like..worst case scenario DJIA 7500….and of course the best buying opp. in our lives…assuming your time horizon is beyond lunch….
The “agrarian economy”, is the politically correct way of saying “the poor farm”.
“Welcome to the New Depression, boys! Grab a pitchfork and work on this pile o’ cow shit ovah heah.”
MA – trying to go green
Citadel is a piece of shit.
I will find great pleasure in seeing their demise.
Hopefully they are listening to the fine tune I posted above, while the Fed’s rummage throughout their offices.
Oh look I’m only down 2.5% now. Go USA!
stopped out of AAPL for the third time. damit.
note to self: self, do not go long. do not chase shit here. dont be stoopid. i know you want to chase shit like some full retard, but dont. wait. if this is the bottom, there is plenty of time to make money long. always remember, you hate stocks. they are not your friend. they want your money. they are a bottomless pit of money eating death and destruction. as soon as you go long they will chew your last good ball from your sack and make you a eunuch. there are forces bigger than you operating here and you are not smart enough of rich enough to beat them. you should do something constructive or fun today. leave today for the full retards, who have already lost both balls and swing an empty sack of skin between their legs, flapping and slapping. this is their day, not yours. shut it down. this is nonsensical.
nevermind just shorted aapl again.
If ECB does cut 100bp mid day, I would not want to be short.
You realize it’s like, 7:30 in Berlin right now, right?
Those fuckers are onto their fifth stein of Becks Light right now.
________
Fly when you are dollar costing MOS, do you have a target sell price?
Just bought 400 SDP @ $93.48…couldn’t resist.
Fly,
No miles, yet. I got up extra early. Couldn’t sleep. Read the news. Working out after market hours today.
The workout of the day is:
400 meters
rest 2 minutes
400 meters
For time.
RC is doing the same thing.
http://www.crossfit.com
Donny buys DUG @ 52.75
Jeffrey Cooper
11:20:15 AM
No positions in stocks mentioned.
Character Change
It is still early but we may have a change in character here.
With big down opens usually you see the first short-covering bounce and then the market rolls over.
I think everyone including me was looking to short the first bounce and rightfully so but markets don’t usually crash on Friday’s as I recall.
But this incarnation of Mr. Market is a pain and may not comply with the first bounce short strategy.
I will say this: if the market is not under pressure going into the last hour, as my trading bro says, “if it ain’t crashing, it will be covering and prolly in a big way.”
The last hour should be one for the books—which ever way it goes.
You had to know that this pig wouldn’t ‘end’ until it belched with a limit down open.
My fear is that the first catharsis, if that’s what this is, may not be the ultimate climax and that if we reverse today that lies in front of us.
Fly…what do you think of CF as an AG play, similar to MOS…but with apparently better fundies. Thanks.
Pete
DD–
What’s with the fixation on SDP? Looks illiquid.
Jake – the game plan likely is already in place.
its probably just a question of when, not if.
I suspect they are also on their 3rd sluttly hooker already as well.
Bill Miller:
I will gladly dance on your grave, while buying up block of MOS, with a sell price of $35.
Dog
I thought you said you were taking wifey out for lunch in the viper? Why are you still hanging around like a spare dick at a wedding?
COF the biggest piece of crap ever is holding up in this market……its total non sense……
Alpha, what’s the deal with that crossfit thing?
Is it like a novena, you have to do it every day or it’s ineffective?
Or do you pick and choose?
]
___
Dog:
“Ten rounds for time of:
12 Burpees
12 Pull-ups”
What is a burpee?
Margin clerks are liquidating inverse ETF’s like QID, SKF, SRS and SMN.
Odd No.
BHP prints green, folks. that’s the first big green for the day.
SPX scraping the bottom of the broken triangle right now.
We shall see what we shall see.
___
Hey CAP:
Any wagers on today’s market close?
Slob that knob, CAP!!!!
What’s this shit with my longs turning a mossy shade of green?
CAP…as in top of the shaft mushroom head cap?
Jake,
It’s designed so that you can follow the program everyday. If you do it for even just one month, you will see the effect and notice the difference in your strength and endurance. Eventually you will get addicted and you become their slave, begging for more pain.
See anybody can be like Rubinni (or whatever that Italian, Iranian Jew’s name is). If you cry out long and loud, you’ll eventually be right. I say this market is going higher today. It will finish green. Eventually, I’ll look like a fucking Iranian Einstein.
Hey cap what’s that smell on your breath?
I called this sideways action earlier today after the first drop of the day…I think we will close down 500! Increasing my SDP, SKF holdings!
Gold is on a tear from he close. Euro is doing nicely getting a look in to see what daylight is like and Euro yen is now off life support and breathing on its own.
If this turns greens it will the biggest laugh of all time. Stock traders are now taking their queue from jap housewives who are taking 50% haircuts on their “investments’.
AAPL up 10 pts off premarket lows
Chaos is a bitch (yawn)
crossfit is pretty tight. been doing a slight variation from simplefit.org. but i think i should switch for the variety.
“burpees” are killers! Kind of like the old 8-count body builders that the Navy froggers did (my dad was one).
If you can do 120 burpees and 120 pullups total, you are in shape. The average person goes into cardiac arrest and their arms fall off during that workout.
here’s where you can find out what a burpee is…
http://www.crossfit.com/cf-info/excercise.html
scroll down to burpee demo
UPS Green?
For a brief second at least. Could that be Hank “helping out” his friends at “the Citadel.”
(Another stupidly arrogant hedge fund name, btw. On the next go around, I hope these assholes have enough sense to name themselves’ “Joe’s Diner Fund” or some shchit like that. Looks a lot better when you’re up against Phantom of the Opera Waxman and the tv cameras).
_____
Bennet Sedacca
11:37:43 AM
No positions in stocks mentioned.
Treasuries…
Treasuries are selling off hard now.
It could be a few things… asset allocation? Maybe. Doubtful, more like it.
Most likely? If you were an oil producing nation with lots of govies and the dollar being up, what would you sell?
Treasuries.
A solid weight training program with free weights and intervals thrown in once or twice a week beats the hell out of crossfit.
In other news: Is it even possible in this day and age of mass media, instant news and the blogosphere to even have a carthatic event like ’87?
I mean really, how likely is a crash to happen if everyone is sitting around waiting for it?
I went long at the open with tight stops. Indexes only.
MOS wants to BE SOMEBODY today.
What the fuck!? So, if we finish in the green today, we still have downside risk?
I thought today was “the day”…What’s everybodys strategy for the weekend? I only have 5000 UYM right now…no hedges…
Anybody noticed we can’t break DOW 8200…makes me wonder if this is a SHORT-term bottom?
We are going lower you idiots.
Dog:
Thanks.
Found the video here (made me tired just watching it):
http://media.crossfit.com/cf-video/CrossFit_Burpees.wmv
My jaws are tired. I need a rest. Whenever I stop cocksucking myself, the market fades.
Sorry guys.
We are going lower you idiots.
________
That’s my boy.
Snif. (wipes tear away)
____
S&P 500 @ 880, this factors in an earnings decline of over 40%, worst recession was down 32%…What are you expecting 50%, 60% declines?
Stopped out of fracking apple 4x.
this market is a fucking elevator party without a cable.
oil < 65 means it’s time for canada’s ‘raging’ oil sands economy to drop a big, fat deuce on some canucks.
*disclaimer* as soon as the market starts moving up, i will reverse my commentary
wilmer, crossfit uses free weights and olympic style lifts. It just combines them with functional exercises and running. A buddy told me that even the Marines and SEALs are incorporating it as part of PT.
I was recently bearish while Fly was bullish and gay with Warren Buffett. It’s dawning on me that capitulation is a foreign thing. Everybody (and I do mean everybody) as of a couple of months ago was invested in oil, commodities, Euro, emerging markets – anything but US dollar and stocks.
From Joe six-pack to Joe Hedge Fund Dickhead to Joe Fukio “carry trade” Fukura, you were invested elsewhere. Anyone invested in the US stocks was a grizzled, stubborn mofo who’s been through 7 years of heavy flak. This selloff ain’t shit when you consider US stocks priced in anything but the US dollar. Nobody except a few idiots were leveraged in US stocks. Everything else, yes. Hell, US stocks have outperformed everything except cash and bonds in this selloff. There may be orderly sells, but no margin calls here.
Hell, Nigel “Eurotrash” Hedge Fund Dickhead using British Pounds or Euros to invest must see US stocks as pretty damn attractive as he is tearfully liquidating his last oil investment. It’s the currencies, stupid. Capitulation is over there, not over here.
What the fuck!? So, if we finish in the green today, we still have downside risk?
Not necessarily. if I was given total charge of the world CB’s and I should because I’m really fucking smart I would announce this weekend that the ECB would cut 100, the Japs would go back to zirp and the also rans like Australian etc would cut 100 or 50.
that would immediately telegraph two things to market whores.
1. the Japs and Euro trash recognize they haven’t done enough for their economies but are now onto it
2. the US may have . (The fed can cut 50 next meet.)
this would be the most important signal in the entire clusterfuck. It would also be important that the US DOESN’T do a thing and remain very silent.
It would send US Stocks to the strat for a while at least.
However these people are total incompetents and the japs are even worse.
I’m disappointed in today, so far. I think I’ll go hassle a few margin clerks for s&g’s.
clink…..clink…..clink…..
Looks like the “bottom of the broken triangle” just told the S&P to “go fuck himself.”
_______
j, thank you for planting the seeds for the next bubble. Can we throw some MOS on that?
Is waiting for the last minute the right thing to do today before buying dumping all in on NOV ?
what are your thoughts on AA. I mean this is not the time to stop drinking :-)…
but, maybe the time to buy some Alcoa?
Bubbles are very enjoyable, alpha. They’re fun and you get to pick up a lot of a women during bubble times. Anyway as I said once
I read the book ” How I read Mises and Hayek and learned to love bubbles”.
Only 11AM here. Going to lunch around 1PM. Love watching the BULLS buy here and I love more taking this unbelievable opportunity to go SHORT in a very heavy way. I’m 75% margined now.
Jim “Bowtie” Rogers is on Bloomberg and he looks mad for losing $$$$$ and Eric pissed him off by asking about his portfolio. He is lying blatantly when he says he doesn’t know how his portfolio is doing.
Dog
Be careful with margain. don’t go bottom heavy on margin as you could lose you profits from up top.
Stockpick:
You are indubitably correct about Bowtie.
He knows, to the penny.
_____
Scott–
I own AA at 12 and 10. I’ll buy it at 8, if it gets there.
j and his central banker friends have already planted the seeds for the next bubble: “Commodities and Nat Resources, Part II—A Continuation”.
DEVIL,
Are you 100% short?
In a bear market everything and everyone gets taken down. Even guys with bowties.
Just got back from the gym. You guys are all assholes laughing at my expense.
I am counting on the market going lower. Then again Europe closed well of the lows. It could go either way here. Not selling my puts. Not adding new longs. Continue to sell SKF SRS SMN SDS calls at ridiculous fills if we head lower. Might sell SSO and QLD calls if we rally into the close.
BTW That comment about Jim Rogers losing money. Rogers is a fucking billionaire. He’s richer than all of us combined. A couple hundred million here or there is not going to make him lose sleep. The guy has long term focus. This commodity boom is not over by a long shot. What you think China, India and the Middle East will suddenly stop growing ? This is a long term trend. It can’t be stopped. This is just a hiccup. Give it 4-5 more years and Rogers will have the last laugh. The dollars dominance is ending. Gold will eventually trade at the same price as the Dow.
Yep alpha, just play the CB’s and you make money. it’s going to be the biggest fucking bubble we have ever seen and they won’t be able to stop it for fear of fucking the economy.
———————
I bought gold at 715. Gold has the feel of closing above 800 today. I know it’s a long shot but it has that creeping bid to it that makes me think it’s got a very high top.
Fab…I’m the one 100% short vis a viz., ultrashort ETFs, since May 23rd, I might add. You name it, I got it. Sorry to rub it in your face. I would rub it in CAPs face, but apparently he’s occupied right now.
clink…..clink…..clink…..
cigarette break over
So, “Don’t fight the Fed or the ECB” is the new mantra?
“The trend is your friend, and so are they”. I guess so.
time to get back to work
god damn i wish someone would shut these damn pundits up on CNBC..they are absolutely ridiculous!!
I still have some gay Gold stocks I bought on Friday. The hedge funds should be done selling By Nov. 19th. If we have a world market currency fuck up and no hedge fund selling Gold might FLY.
Thanks, alphadawgg!
I plan to buy more at 8 as well.
Since he was on Larry King last night, for their next act, they will put Michael Moore on CNBC. (I wouldn’t put it past them.)
ck ouy GDX
Those f’ing cubes on CNBC, I think I’m watching the beginning of the Brady bunch…Kneale is Alice…fuckface!
Anybody need some corn or beans?
I’ve got 3 fully stocked semi-trucks in my driveway wtf?
AD,
Don’t ya think it’s different this time than 87′ with all the hedges available now that traders/retail/401k/IRA have inverse ETF’s at their disposal rather than being panicked out?
If you have the time, please post your top 5-10 buys into this sell off for long term accts …. AA, NOV, MON, MOS, CLF, FCX, C, BA, JPM, GG ?
Inquiring minds want to know….
Closing 200 points up, and Cap gives himself a blowjob.
Capitalism kills the commie bastard!
Oil to $40 fuckers … lets bankrupt that fat cockroach, Hugo Chavez.
DOG, I continue to watch SDP per your recommendation, it’s quite entertaining, flopping about like a suffocating fish while my SRS and SFK shares soar higher and higher.
Jeff Macke
12:22:13 PM
No positions in stocks mentioned.
Depression Isn’t V Shaped
Hello from New York where, if you need a “tell” for a trading low I can share this: I was called in from my day off this morning with the futures lock-limit down. In retrospect I should have a) said “No thanks because this will obviously just end up being an ordinary ‘down 4%’ day, if only because I’m being asked to come in,” or b) gone back to bed. Of course, what I did instead was say yes and start selling off wee bits of S&P 500 2x Short ETF (SDS) and Dollar Index (UUP). Wee, wee bits as I found that open every bit as uninspiring as everyone else.
Which brings us to my overarching thought of the day: stock market lows are most likely lousy theater. The Oxymoronic Great Depression wasn’t a bunch of shorts covering generational lows as spat-clad longs jumped off the Chrysler building. It was long, hideous and, ultimately, a period of not much of anything. You don’t “weather storms” by running around; you batten it down and hold still. The bottom, when it comes, will look like this. Unpredictable. Untrustworthy. Impossible to really game. The opposite of mania is doing nothing. Right now the market is still fairly good theater but, if you trust it, you aren’t paying enough attention.
In less moody news:
* Fundamentally, I’m short. Nothing complicated about the reason. I simply don’t believe the markets can be valued, fundamentally (governments are continuously changing rules) and are too emotional to be reliably “played”. These percentage moves are truly crazy. Even prison convicts fear “crazy”.
* So why not try to short it to zero? Because once you fully load up the short you’ll hear the Breaking News alert, the market equivalent of Hulk Hogan’s entrance music and the next round of “Global Stimulus” will make the market hop like a docked fish.
* Speaking of which, Iceland just got a $2 bln stimulus package from the IMF. From what little I understand of Iceland’s market seizure, $2 bln amounts to trying to melt a glacier with a cigarette.
* National City (NCC), PNC (PNC) and the Treasury Department (USA) all jumped into a sack together and Nat City came out 1) partially owned by you, me and other tax-payers and 2) 20% lower. Do we get to vote on these trades next month? I’m becoming a bit disgruntled with my fund managers in DC.
* Speaking of groups regarding themselves as Bigger Than The Market, the Crude ETF (USO) is now 50% below it’s broken uptrend even as OPEC vows to cut production. There’s something sad but almost charming about OPEC’s unwillingness to recognize its obsolescence.
* At the risk of closing on a downer (or upper, depending on the tick), I’m still long Microsoft (MSFT), which has been “cheap” for the last 30% drop. “Good quarter, seems inexpensive, no upside catalyst to speak of”. Now that’s what a market gone depressing sounds like.
8-
Yeah, it is different now that retail brokers can hedge with inverse ETFs. Problem is, so many are still indoctrinated into the long camp that they always revert back to buy and hold by default.
However, I’m hearing from some that the mutual funds they put mom and pop into are all set to fuck the retail investors with capital gains distributions in December. International, energy, natural resources funds, to name a few.
“Oh, by the way Mr. Client, your account was down 35% in 2008 and you’re also going to have to pay taxes on your fund distributions. Sorry about that.”
“You’re fired.”
That is one conversation they will avoid like the plague. Those guys are going to sell out of their funds in taxable accounts.
My top five watchlist stocks for the long term (5 years):
BHP, RIG, PBR, MON, MOS
(materials, energy and ag/food)
“Marathon Man” just started on Sleuth. We deided to go to dinner instead.
We need another op-ed piece by Buffett.
Say you have all your capital employed, then you fall asleep while watching the market – does that qualify as a “crash”?
Man, I can’t keep my eyes open.
Leucadia – LUK is on sale here – big sale!
markets should be open on weekends and holidays… 24/7. this two day wait shit before you can trade is stupid.
Bennet Sedacca
12:46:46 PM
No positions in stocks mentioned.
A friend of mine once told me….
…”Bennet, a bond can’t have 4 A’s.” What he meant was that a AAA rated credit can only get downgraded.
Take General Electric (GE) for example, which has been AAA forever.
But what is GE, when you boil it down? One gigantic finance company that some might call a ‘hedge fund in drag’.
The fact that they had the audacity to tell us they were going to the Fed’s CP window to give the program credibility is both preposterous and an insult to what is left of my intelligence. In their words ‘GE wants to demonstrate our support for the commercial paper facility’.
What is the over/under on GE going on downgrade watch? I think sooner than most believe.
The bonds and stock speak volumes.
I just went green!!! USA! USA!
BEN and BX on sale here – BIG sale.
Freakin markets pissing me off. Go down . Down not up. Down. Well at least we still have Monday and Tuesday. Plus all the mutual fund selling next week is guaranteed to drive this 1000 points lower.
Get ready for loftoff again…shorst aint gonna want to hold anything over the weekend.
Even prison convicts fear “crazy”.
LOL. I gotta remember that one.
___________
Here comes the underside of the busted SPX triangle again.
We shall see what we shall see.
PS — added to my SPY puts, this time at 75. 100 more contracts.
If we’re up from here, I want a thank you note from each of you.
_________
Cap = Bernard @ 3:11
http://www.youtube.com/watch?v=9dfEsMO_m58
Those two are from a fake Paradigm shift
I have no position for LUK,BEN nor BX – they all blow
CAP = Bearnard
http://www.youtube.com/watch?v=9dfEsMO_m58&feature=related
GE is a bank that makes refrigerators, just like GM is a bank that makes cars.
It’s all so very pervasive.
CNBC on the floor of the NYSE and all they can say is “do we sell off or rally from here?”…Fuckin’ stop it! Just say you’ll return to programming when you have anything of substance,in the meantime enjoy this episode of “I love lucy”
Hmm…. downside on RIG looks to be 2003 low…. maybe slightly higher… shall we say, $24?
A regression on NOV since its IPO-> early 2007 (before it went parabolic) suggests midpoint value is $25, one outside standard deviation around $22. Then again, the 2003 low was around $9.
If all of you are so sure NOV wouldnt go down to $10, why not sell $10 NOV puts, earn 1%?
I cant believe you clowns are buying dips in this bullshit tape. This is a bear fucking market. And by the way, right now is expecially a bad time to be dip buying:
1)It’s friday and nobody will hold stock ahead of a crazy crash-potential-Monday.
2) Afternoon margin calls are coming
Fuck that. If you must, short rips intraday and cover rips. Or, go all cash. But to buy stupid stocks and average in when the primary trend is down doesnt make any sense.
-Phil
Thanks for a sound view from Brazil, Phil. Brazil is crashin too, no? A bounce is comin next week – the Fly Rally will start early ahead of Halloween.
Anonymous,
Maybe we bounce next week, maybe we dont. Theres simply no edge right now swing trading. If you must be in the market, intraday trading is the way to go. Longer-term short or long positions will only make sense once this market stabilizes. We need to see a few weeks to months of bullshit rallying for a nice short setup with juicy risk-reward. Or, from a long perspective, we need to see months to years of some sort of base. There’s too much damage in the tape right now, for long positions to be initiated on a multi-day hold basis. Just my take.
-Phil
Still short SPEW until 840 is retested.
Added a little more (1K) GCI 8.75
2K MYL @ 6