The market is being quite classic this morning, acting all tepid and shit after a monster beat by INTC. Just when everyone got caught leaning one way, all bullish and shit, the market pauses and mind fucks everyone. Well, let me be the first to tell you, once again, there is still upside left in this move.
Now, I’m not talking about going vertical, after the move we just had. As a matter of fact, there is a distinct possibility that the market will trade lower in the short term, effectively luring a whole new set of asshats into the proverbial “bear vice,” in order to be properly squeezed at a later date. According to the laws of mathematics, dictated by The PPT, there is still upside in this move.
Nevertheless, because of the fucked up nature of this world, coupled with the fact that just about everything is a lie, I’ve taken steps to assure my assets are thoroughly protected, by way of large cash horde. Typically, I will keep a 10% cash position, just to give myself a bit of leeway with regards to actionable trading opportunities. But now, I am keeping 30%+ on a regular basis, so that I might deploy it into a VXX vehicle for proper and thorough hedging of my entire portfolio. Essentially, I do not trust anything;therefore, I need to keep insane amounts of cash on hand to protect my gains.
By the way, former iBC blogger, John Lee, launched his new website yesterday:ChartsGoneWild. In addition, he launched a premium service (finally), which is sure to be a great value to subscribers. When it comes to picking stocks, via charts, no one does it better than John.
As for this tape: we are mixed between robust tech and weak CRE/banks. Let me break it down for you in a mathematical formula:
Strong Tech+(weak CRE+weak Tech)/fear= Go Eat a Fucking Sandwich.
Top picks: NVDA, CIEN
Do it V.King style…1st
Welcome back Fly to the jungle… http://new.music.yahoo.com/bruce-springsteen/videos/view/jungleland-live–25304479
Own as much LMLP your limp arms can carry
V. King, why so bullish on LMLP?
Because it’s going higher….
Since you’re gonna get banned again, this is the real first post, V.King.
The Fly is God.
rotfl
I’m confused
That avatar is going to give Woody nightmares.
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Props to John Lee as well.
PPT getting close to that oh so beautiful 3.1 Mr. Fly. VXX it up?
Banks are missing in the formula.
A fellow agent and I were just talking about the 3.8 percent tax on home purchases starting in 2013 under the new health care bill. Maybe when the Rep take control of the house and senate they will hopefully repeal it.
TSLA going vertical – the Google of autos.
tsla going vertical to crumble down better later
I think we see $20.8 before that…
Tesla is fucked. They based their expense predictions on the cost of their vehicles decreasing when mass produced in similar ratio to that of a toaster, or a microwave. Last time I checked though, basic utility electronics aren’t comprised of precious earth metals like Tesla car batteries are.
Stay far away.
I should disclose, a friend of mine made this argument. He’s big into cars, and I guess the car community is finding Tesla to be a joke.
I don’t know shit about cars, however.
I thought we would be fucking around 0 for a while and melt up later ; there’s nice resistance approaching and the market sure now what to do around that
nevertheless driving down intc to fill the gap has been nice
so I dismiss part of it now .
“Go Eat a Fucking Sandwich”
does that mean stop trading or keep trading? im confused
Simple answer………Rhetorically speaking.
Do you typically trade while eating a sandwich?
Bullish descending wedge in US Dollar is still intact, on daily charts– if can stay above 24.00 this week. If BP remains unable to perform the pressure test, and abandons cap efforts–I cant see how we stay above dow 10k.
That’s UUP. You need to look at DXY.
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entr ready to skyroket selling loosening
sell calls on your longs, and keep alot of loot safe. TEVA is working now.
OK CRE..Consumer, real estate, Energy???…for the market, OK, seems like this “Citi Tech” rally caused by F/X slam of eur/usd is still holding on,
their target is 1.3100 at where they are going to sell it. It’s just one short squeeze
going on….we should move down to retest the Dec downtrend line in the next days, hold it
probably w/help from the players that started the short squeeze and then push the market
up again to hit it’s target then roll….for today 1098 is resistance..or last weeks (in turning japanese articlle) 1102
for spike…watch for short profit taking from eur/usd to see when we pull back..maybe
today, maybe tomorrow…once we do, I expect a retest of 1020 at the same time…then back
up until they get their 1.3100 on eur/usd……
This options expire week right…oh the games that will be played! Don’t get caught up people!
The FLY will be taking profits and building more cash by Friday according to the terms dictated by the PPT.