Do you realize how stupid you sound? Stupid lines on charts do not dictate the destiny of global markets, fuckface. Imaginary resistance levels of “1,100” are nothing more than mere coincidences in a broader fundamental story. I hear a lot of funny shit on these here internets. I especially like when people say “if we break 950 on the S&P, we will retest the March of 2009 lows.” WTF, LOL!!!
You fucking birdbrains go on the teevee with this bullshit and spew it as if it was fact. Now that’s what I call balls.
See folks, charts are nothing more than crutches to make people feel better or more secure about themselves, not so much different than religion. If some of you ham and eggers did not have technical analysis to cling onto, well, you would be lost and sad. Wall Street does not want sad investors. We want happy people, so that you can invest more money, with huffy-puffy chests and testosterone riddled brains.
No offense (of course) to some of you leaf blowers who are “experts” on technical analysis. You might even be good at gaming this market. But rest assured, it has NOTHING to do with charts.
Being that the market is all about automated bullshit these days, I have taken it upon myself to hack into the fucking robots who buy and sell stocks, via a product known as The PPT. You may or may not be familiar. Just know and understand, this shit is light years ahead of what you are doing with your lives. Once I get finished with 2.0, I will offer 1-2 day free trials, so that you may see for yourself whatever the hell I am talking about.
To answer your questions: No, I do not feel bad about selling Corinthian Colleges, Inc. [[COCO]] yesterday. I sold stocks in order to clean slate my portfolios, so that I may prep for new ones. I have wheels turning in my head, at all times. Never forget that.
Despite the IMF selling gold, I still like Gammon Gold, Inc. [[GRS]] . And, as a matter of fact, I like U.S. Global Investors, Inc. [[GROW]] down here too. My top industrial/commodity picks are Nucor Corporation [[NUE]] , POSCO (ADR) [[PKX]] and Petroleo Brasileiro SA (ADR) [[PBR]] .
Be well.
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Tx
Sold. No more free soup
Fig u r wrong.
Inventories are being restocked
Amen (pun intended)
Oh my, mr spiegal covered his shorts after wasting time.
Anyone following the VirnetX (VHC) case against MSFT? I’m long from the $3.50’s.
Summary: There are several core components within the Microsoft operating system and MS Office which violate patents owned by VHC (which they bought from SAIC). The violated patents in question include the Windows Update feature, Virtual Private Networking, and a host of other crucial components within windows/office. Damages could be in the Billions.
Second, VirnetX is being represented in the case by McKool Smith, the most winningest IP atty. in practice – who you may recognize from the i4i case against MSFT. As an aside, MSFT apparently really pissed off the same judge during the i4i trial.
Third, aside from the MSFT trial, VHC just signed an agreement with Verisign in order to issue domain names for the 4G rollout: http://tinyurl.com/caseforVHC2
The trial starts March 8th and is expected to take around 2 weeks.
Here’s a breakdown from a guy who knows a shitload more about the case than I do: http://tinyurl.com/caseforVHC
More:
http://finance.yahoo.com/news/VirnetXs-Potential-Licensing-prnews-1114858744.html?x=0&.v=2
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=6760770
http://tinyurl.com/caseforVHC3
Yes, I know that linking to YHOO message boards is quite pedestrian.
Betting on patent trolls is like gaming earnings.
It paid off for you, take at least some of your money out.
I am very confident in this dart throw, and I am using money that I can lose. Not selling until $30. har har har
Plus, they have a bunch of other cool shit they are up to.
so is the guy on video at the right on your home page. please lose him.
Technical Analysis is an art, practiced by most but perfected by few…
Just like religion.
There are many issues at play in stock prices, but charting is an important component. The talk of 1100 is legit in my opinion for the current scenario, not because the number really means anything, but because it is being used as the pivot point for the market.
I have made my position clear on here. This economy is imploding, no recovery will occur. The question is whether deflation takes over again, or if the Fed decides to take this opportunity to get hyperinflation moving.
I am pretty sure that the plans for what to do were hatched last week when the government was “closed” due to weather.
Even though, I am 85% short the market, I am still staring at resistance points on the S&P as a way to determine when to get out if I’m wrong.
I agree with everything you wrote, and covered my shorts this morning at 1102, as I think that the next step above the now-broken 50-day EMA is the 50-month EMA (for the S&Ps). As for the Fly’s comment about TA “support and resistance levels”, they work in a sort-of self-fulfilling way, in that everyone looks at them, so if the mass of buyers (or sellers) are looking for a place to “take a stand” against a trend, those levels become a logical place to do it– sort of like a compass point in the wilderness.
What! You don’t believe in The Golden Cross?
Feb. 18 (Bloomberg) — A “golden cross” of two moving price averages of the Dollar Index for the first time in 18 months indicates that the rally in the greenback may accelerate, Auerbach Grayson & Co. and Brown Brothers Harriman & Co. say.
Repent!
Love the religion comment above
Here’s to 5000 years of using myth to explain things that people don’t understand AND make them feel better about their meaningless life in the process.
This is one of your best posts. People who believe they can predict market directions based on charts are the same people who believe Christ died 2000 years ago to absolve them of their sins. Stu Cazzo! Get real.
The control issue is the same with religious issues as it is with charts. The “need” to feel some sense of order when there is none! Hence we assign some properties to these “uncontrollable” events/issues so we can “feel” like there is some order and that we have some control. As you aptly indicated in your post, charts do not provide real control, they are just lies people need to perpetuate to themselves so they can stroke their egos with the thoughts that they are EW masters, “they have control”, making it possible for them to sleep at night!
I do believe there is perfect order but most people aren’t willing to accept this order as it doesn’t comply with their specific needs nor does it give them the sense of control they “need”. A whole lot easier to believe that your sins are washed off and you are going to heaven if you have thrown some water in your face and claimed that you accept Hisus Kristos as your PERSONAL savior. The thought makes you all warm and fuzzy inside 🙂
Or this version: you get to go to heaven and have 70 virgins at your disposal only if you strap yourself with bombs and blow yourself up in the presence of as many innocent people around you as possible.
Shit, I would kill my own mother if I thought I would go to heaven and have 70 babes around me, FOREVER:)
Tech analysis is an “art?” Is that really the word you want to use?
Wow…off the top of my head: Arthur Miller, T. Williams, F. Scott Fitzgerald, John Steinbeck, Cormac McCarthy, Don DeLillo, etc.
As a most brief introduction, this is what we mean by art.
Clearly, you (as I) are a frustrated writer. I daresay that when MOST people think of art, it runs more along the lines of Picasso, Michelangelo, Da Vinci, etc.
And yeah, chart reading is more of a “craft”.
In the early and mid-80s (that would be the 1980s) I used to skip out of work on occasion and stop in at the local Dean Witter Reynolds office and watch the old codgers sit in front of the tape going across the wall.
It would make all kinds of racket as it crawled along.
I made friends with a guy named Al who had to be in his early 80s and was a great tape reader and he had great stories. We would sit in the chairs and just watch and he would give me a running commentary.
A very successful trader who didn’t know a moving average from a doji.
But then again in those days people would actually invest and not trade.
Without “OPM”, Wall St. is DEAD. “Fuck Wall St. (Thieves/Clowns)” and Protect and Govern Thyself!!
Buy the ‘Physical’.
Indeed!
I’m not Le Fly, but if I was, I wouldn’t let the leeches into the PPT for even an hour, much less an entire day or more. Primarily because the PPT takes a few days to figure out and a small taste might just serve to confuse the leech even more. Secondly, you get what you pay for. If people want to be penny-wise, pound-foolish, let them eat free cake somewhere else. This is truley a premium service…..and getting better with the new seasonality approach.
Pounding the table on HYC again… very nice breakout going on. Sorry for the reminder but there’s opportunity to be had.
Some very important #ers
10.10.10
1200lbs leg press
365lbs declines
LMLP up 20% since I mentioned it last week
ACLS is going to $4.00
PPT 2
“Don’t bring it unless you can bring it”.
V.King 1:02
Get ready to murder some bears!
http://ibankcoin.com/henry_fool/2010/02/18/sorry-bears-were-going-higher/#comment-1077
Technical Analysis works but only as an additional tool, not as an entire strategy.
TIM’s recent failed RY trade proved the point.
Breaking the fuck out
Yes sir, dare I say “art”. Like most people when handed a brush(in this instance, a few indicators they’ve brushed up on and some moving averages that are supposed to mean something) they make shit with it. But for the very few who have perfected the “art” of chart reading(ie. dedicated their life, day in and out backtesting theory and indicators, designed their own indicator like the PPT etc. etc.) when their eyes roll across a screen of squiggly lines its like a virgin is singing to them, telling them where to place their pot of gold so it can grow three sizes that day. I understand that everyone thinks they are a butcher when given a knife, a hunter when given a gun, and even a Technical Analyst when given an eTrade account.
Now hold on just a god damned minute.
I’m an idiot, and I don’t use charts.
So much for THAT theory.
I am adding CHK and LNG, so there.
yeah but none of my charts say 1100 was ever a barrier, they do say a little higher like 1108.343256728394330321032416732032432 to be exact
how close were my charts? well another saying is your charts arent as good as my charts and if you dont have a map of the land the fucking cannibals will eat your balls…
my crystal ball is better than your crystal ball… and so is my coffee
Technical analysis is cleanliness, and cleanliness is nescience,
and nescience is godliness, and God’s pockets are all empty, unlike Fly.
That’s how Zero was originally written.
Anyone take my advice on KELYA?
Thin stock but since I posted it on these internets around $11.50 it has risen to $16.50 today on the bull flag break out …. “i’D Bank some Coin” with resistance just up the bend at $17.
Nice high volume moves on the SPX
The PPT shaw be denied! at least for a little while
Market doing what it does best, frustrating the majority
As Sir Somebody said, “The map is not the territory.”
As someone else said, “The chart is not the market, fuckface.” Sir Horatio Clawhammer, 1868
I bought some MELI i am now 13% UP. Should I sell my MELI? or hold on
whats the chart say? oh wait
I bet that if i just random pick stocks without looking at charts and fundamentals , i will outperform 99% of all the chart readers.
doubt that and i will let you try for a century , read above where my charts picked the close damn near on the tick. I bet that you would be broke 99% of the time with your stock picking skills, you have fun with that.
dopio anyone?
Dude. Why don’t you pony up $40 dollars for a PPT subscription and then put all my posted trades in a spreadsheet and compare them with your $1000 dollar portfolio.
jay the DOPE guru,
you are the dopio here. come inside the PPT and we will track your calls for a few weeks. else just fuck off. Failed breakouts and Successful breakouts are just a coin flip.
We have tracked Iwin and his impeccable calls for more than year now. He is the Shiiping captain in there.
“Despite the IMF selling gold…”
They are selling their gold to central banks worldwide, who are in accumulation mode. One seller — multiple buyers… now read the tape.
Iwin is a true bossman in the ppt
charts are for idiots i follow this philosophy like my bible charts are for idiots and life happens
Charts really dont belong here man, charts are for idiots I couldnt have said it better myself!
What a great blog cant wait to com back soon!