Mr. Devil Dog and “The Fly” partake in a game of high stakes chess.
[youtube:http://www.youtube.com/watch?v=Y8q2X0JPcuA 616 500] If you enjoy the content at iBankCoin, please follow us on Twitter
Joined Nov 10, 2007
23,433 Blog Posts
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Cool
Good story bro
Hey Fly, got an opinion on Dow Theory? Seems to me that we’re meeting some of the Dow theorist requirements for a primary trend down. One more lower high on the ITY and the DIA and that just about does it. Plus, the broad positive spirit of the times in the face of several distribution days over the past two weeks suggests to me that it’s time to be super en fucking guard to the long side with an eye to shorting the indexes as it seems the big houses are, or at least might be, unloading. Personally I’m watching the revised GDP and the employment numbers on Thursday. The expectations are bullish. Whether we miss, beat or meet, the reaction will be an important tell I think. The wild card is the government and the printing press. A sharp decline down and they’ll print and what will that mean? Don’t know. But at some point the market will flip the bird to the even the printing press I think. Thoughts?
Skogie,
I kinda agree with your assessment;
I think we will see several severe disruptions over the next few months necessitating far more printing globally than we have seen till now. With this, the era of hyperinflation will have begun.
I got into 98% cash the first few hours on Friday and, for personal reasons, am going to try my hardest to stay clear of the market at least until end of October if I can. With the WorldCup going, the first couple of months should be easy as I intend to devour every single game.
I believe the money will be made on the short side for these next several months but only the very shrewd traders will be able to navigate through all sell-offs due to nasty fundamentals and sharp rallies due to currnecy and market manipulations.
GLTA
CHEQUEMATE Young boy CHEQUEMATE
Most of this stuff makes no sense but its immensensly rewarding. Sort of like lost but better.
All you lostards stop watching an hour and half of nonesense and start watching ibankcoin cartoon.
Are we going to witness sunday night europe surprise?
A market kinder egg.
You did nail the VXX trade, you asshole!
Now for our feature film:
http://www.youtube.com/watch?v=yI3ueFy1N4E&feature=related
Did Mr.Devil Dog say it was Fly’s Birthday?????
Tomorrow.
________
Another win.
Senor Fly, Is it true that you photoshopped your face into these vidoes?
“Rubbing VXX all over my chest…”
Witty. Very witty.
Witty like a fox….hey Fly have you heard what’s going on at your old firm? Funny shit…..
en piss-ant mofo!
Laser beam the bitch and send him to gator country on the cajin nature trail to rid the checkmate of this world. Space age magicians with black smoke can transpose the bod to somewhere else so hamburgaler cam be implicated in killin his queer lover.
Fucking mets
Shanghai Comp is up tonight around gossip that the Property Tax to take air out of Property bubble won’t come into play for three years. Shanghai Metal Futures are up on this big too so far.
Much better than watching LOST.
Only housewives watch Lost.
Sad day for baseball fans:
http://sports.yahoo.com/mlb/news?slug=ti-lima052310
Great dude and known to throw back a few cold ones with the fans after a game. Cy Lima, you will be missed.
To damn young!
OEW Weekend Update:
Long Term:
” Primary wave one advanced from SPX 667 Mar 09 to 1220 Apr 10, or 553 points. Primary wave two, therefore, will usually retrace anywhere from 23.6% to 61.8% of the advance. These fibonacci percentages relate to the following levels: 23.6% SPX 1089 (1090 pivot), 38.2% SPX 1009 (1007 pivot), 50.0% SPX 944 (944 pivot), and 61.8% SPX 878 (876 pivot).
With the SPX trading as low as 1056 this week the 23.6% (SPX 1089) retracement level has already been exceeded, and can be disregarded. The next two levels, 38.2% SPX 1009 and 50.0% SPX 944, are the typical retracement levels for most bull market corrections after five wave advances. Another area that usually provides support is the previous 4th wave. Major wave 4 occurred in Feb 10 at SPX 1045 (1041 pivot). In descending order we have potential Primary wave two support at SPX 1045, SPX 1009 and SPX 944, with a worse case SPX 878. With the market closing at SPX 1088 on friday the risk to the downside is high while this correction is underway. After it concludes, however, OEW suggests another five wave advance to higher bull market highs. “
Medium Term Update:
“The two corrections that occurred during the five wave advance both lasted about one month and their declines were both 9.1%. This correction, still one month old, has already declined 13.4%. This also fits the Primary wave one scenario – larger percentage corrections usually occur during larger wave structures.
Typically during corrections the hourly/daily RSI readings get quite oversold – which they have. Also, the weekly RSI gets oversold as well – it’s there already but could move lower. Then when the market hits a key support level and completes a correctional pattern it bottoms and reverses the downtrend to the upside. Currently there is a potential completed wave pattern at friday’s SPX 1056 low. However, none of our short term OEW charts have turned to a positive bias yet. Also, despite the rally on friday, big moves on option expirations are often fully retraced over the next few days. When we consider that both Major wave corrections were only one month long, this Primary wave correction should need more time to unfold.”
Short Term Update:
“Support for the SPX remains at 1058 and then 1041, with resistance at 1090 and then 1107. Short term momentum was quite oversold on friday before turning higher and moving above neutral during the day. We have labeled the correction thus far with a wave A to SPX 1066, a wave B to SPX 1174, and a wave C underway. This may be the entire correction or only part of the correction. It’s too early to tell. One indicator we are observing for a clue to the end of this downtrend is the weekly MACD. Typically, during steep corrections in bull markets, it drops down to neutral. It is currently declining but still around 30. This also suggests that this correction will continue for a while.”
Commodities:
“Crude lost 4.6% on the week. This downtrend has been stronger than anything we have seen in quite a while. But it’s quite oversold.
Gold lost 4.5% on the week. Despite the pullback the uptrend remains in place and expecting higher highs soon.”
Funny, It always amazes me when using completely different analysis we end up at the same point….I am looking for 1090ish resistance too…I could never get into Elliott Wave…I got copies of his original essays reprinted.read everything, but nope didn’t click….trivia you know Ralph Elliot actually believed in South American Giants…..he was lucky Pretcher found his stuff.
nympho .. this isn’t EW it’s OEW which is Objective in that it makes no assumption and only tries to tell you where we are now and how it compares to historical trends and patterns to assist the user in making their own projections/assumptions … just another tool in the toolbox.
Lima time
One of my favorite Astros of all-time even though he only played for them for a few seasons. Lima Time was always a blast.
Looking forward to Devil Dog’s speech here predicting fire & brimstone to come. Surprised that he didn’t seem troubled at all by the killing of Hamburgalar.
If there’s one thing you take from the site, take this: DD is a sociopath.
______
That’s because the clever chess playing devil dog knew samsonite would be killed. He was just a pawn in dd’s grande plans
Grande plans? DD going to SBUX?
FX Calender had Germany, Swiss,etc on holiday today…yet markets are open? This is so strange cuz even CNBC last week was talking about certain markets being off tonight….
What’s that noise in the background ? Someone disposing of Hamburgalar’s remains ?
If you want to watch “Lost”, just catch the Mets’ next game.
If there is any sense to this world, Samsonite Hamburgalar will return as a zombified corpse, eating the liver of his former employer.
I think Samsonite’s cousin Tumi Hamburgalar will try to avenge his death.
If the bear market resumes are we to assume that DevilDog Mondays will be coming back as well?
when FAZ gets back to 850.00 we’ll hear from DD.
his first comment will be “I told you so…..just one year 2 early”
CAAS is a play on a palladium short covering rally that I may pick up today, on a pullback of course.
News from China indicates their sentiment is changing to spur domestic demand. Inflation will be repatriated to the US where we will all one day work in a stateside Chinese factory building Chinese Balbies and shit.