No fucking idea what to expect next. Anyone who says they do is a despicable liar, deserving of the electric chair.
[youtube:http://www.youtube.com/watch?v=QVqNVB2HwAY 616 500]FYI: The way I calibrate my asset allocation, for precision, is to monitor account values every hour and see if it’s working. If accounts start to slip, I adjust accordingly. My current plan is to freeze my accounts, via hedges, on sell offs and buy the dips. Thus far, it has worked like a charm, as we fucking grind our way to oblivion.
NVDA better make a comeback
Fuck you.
Or what?
Man up. He says to “No One” there.
Use a cycle technical indicator, such as double-smoothed stochastics or Schaff cycle. Never buy when the cycle is at a top. Wait for it to bottom. Reduces risk but if the stock is about to break out due to a pattern breakout, this rule may not apply.
In a volatile market such as this, cycle indicators are mandatory, IMO.
I knew about the short term overbought condition, but I bought it anyway.
It’s a news driven pick, can make a huge move to the upside this week.
Huh.
LMAO!!!
Fly is Gay.
Though I’m bearish, and has been so for last couple of weeks, thus deliberately not participating in the recent bulls’ run or, as they say in Europe, the festival of San Fermín, I’m puzzled by today’s violent action and would love to know the reasons.
No private sector job openings that are worth a damn and if there were this government would seek to destroy them.
No jobs, no economy,no housing starts, no consumer buying.
Wall Street is waking up from it’s fantasy grab of stimulus cash.
That’s it in a nutshell.
We already knew it all. No news. What makes today so special, despite that it’s Friday?
Yen carry trade.
ahh turning japanese…..
FWIW, here are my pre-market thoughts (and additional comment) from this morning. I think it’s pretty clear where we’re headed, as the fundamentals and technicals are both now lined up nicely (but, of course, I could be wrong): http://seekingalpha.com/author/logical-thought/instablog
Costanza trade alert—–
XHB took the hardest hit today, out of the 36 sectors i watch.
It might do best in any bounce on monday
http://stockcharts.com/h-sc/ui?s=XHB&p=D&b=5&g=0&id=p72488942671
There isnt a single poll or metric that supports a democratic victory in November. Im not conservative, but, most fund managers are.
They wont wait until the day of the election to start buying. They will start accumulating months ahead of time. It could be the opposite of the same thing we saw in summer/fall of 2008. By the time obama was elected, most fund managers had already run for the exits. Be watchful for “mystery” buy surges, on no news, over the next few months.
A 2nd thing to watch is this drilling moratorium. If it holds, you’ll know the administration isnt serious about hitting Iran. If you suddenly see him start pushing to re-open drilling—watch out. It means he expects a major supply disruption soon.
PPT 2.24 = buy buy buy very soon….no?
Today was a trailer for the next couple weeks. GDP in two weeks, enough said.
Todays action.
http://turbo.inquisitr.com/wp-content/2010/03/die4.jpg
It was like the market didn’t like what came out of the banks. Which I kinda agree. We were going up to much, the market wants to reprice stocks at lower multiples that are more in line for a turtle pace economy.
MMmmmm….
Should have joined me today at the Honey Hole!
Great work there ‘shed. I had been following a similar trendline for the russel 2000 and climbed in the fazmobile with some tight stops inspired by your ATR methodology (but with some twists). Almost said something on your blog yesterday about thinking the same thing, but got spooked by the fact that I was betting against fly and decided not to embarrass myself.
While it’s a pleasant surprise that everything worked out, the lessons (as he tries to explain to those who never listen) are:
#1 The PPT is not a magical trading robot which makes your trades for you while fighting evil GS-bots with help from his robo-gal launching tit-missiles (which deranged 80’s cartoon was that anyway – anyone remember?).
#2 Do not go full retard following him on a trade – either learn how to manage your allocations or take your shit to Vegas.
Great call, wish I had followed you
i was there.
Better get yourself tested.
lol…I was actually there in prior days. You’d better get tested!
oblivion ?? thats a long way down ?? correct ?? the grind , i think more like a greased pole,fast and smooth
im !00% cash and have been for a few days ..
Averaging down are we?
Fucking stupid.
“No fucking idea what to expect next”
Well said.
Much respect!
Tesla – held in like a champ today, up 3% and settling near my short term target of $20.8…I think it consolidates here before moving higher…the Google of autos.
Ive tweak PPT to work to my power. Wednesday we get 100pt day. Why cause i fly high no lie.
fly,
your going to need a bigger chart…theres no 500 on the right hand side of that one
No one mentions the lack of volume today
hey dumbfuck, volume was higher than any of the previous 9 days, greater than both the 9th and 12 combined, and higher than a 30 day average.
you dumbass fuck. pull your head out of your ass and look at data rather than what you want to see. no wonder you fail
Does anyone have any comments about the crossing of the 50 and 200 day simple moving average?
The “death cross” you refer to has happened a total of 27 times in the past 110 years. Less than half of those times the market was down 6 months later. That means over half of those times, the market was up 6 months later. The average gain after this 50/200 day ma crossover, was 8.1%. Odd, no?
However, these statistics are meaningless.
85.773% of experienced traders understand that.
Haha, AD! Off the charts.
AD thought you’d like this one.
Arizona vs California
The Governor of California (Arnold) is jogging with his dog along a nature trail. A coyote jumps out, bites the Governor and attacks his dog.
1. The Governor starts to intervene, but reflects upon the movie “Bambi” and then realizes he should stop; the coyote is only doing what is natural.
2. He calls animal control. Animal Control captures the coyote and bills the State $200 testing it for diseases and $500 for relocating it.
3. He calls a veterinarian. The vet collects the dead dog and bills the State $200 testing it for diseases.
4. The Governor goes to hospital and spends $3,500 getting checked for diseases from the coyote and on getting his bite wound bandaged.
5. The running trail gets shut down for 6 months while Fish & Game conducts a $100,000 survey to make sure the area is free of dangerous animals.
6. The Governor spends $50,000 in state funds implementing a “coyote awareness” program for residents of the area.
7. The State Legislature spends $2million to study coyote habitats, mating and migration patterns, while another $2million is spent on how to better treat rabies, and how to permanently eradicate the disease throughout the world.
8. The Governor’s security agent is fired for not stopping the attack somehow and for letting the Governor attempt to intervene, costing the State an undetermined amount in unemployment, extended for literally years by the US Government.
9. Additional cost to State of California: $175,000 to hire and train a new security agent with additional special training re: the nature of coyotes.
10. PETA protests the coyote’s relocation and files suit against the State and Federal Governments, costing them millions more defending their policies, all the while subsidizing PETA to the tune of hundreds of thousands of dollars per year.
“““““““““““““““““““““““““`
Arizona:
The Governor of Arizona is jogging with her dog along a nature trail. A Coyote jumps out and attacks her dog.
1. The Governor shoots the coyote with her State-issued pistol and keeps jogging. The Governor has spent $0.50 on a .45 ACP hollow point cartridge.
2. The Buzzards eat the dead coyote.
And that’s why California is broke.
Yeah, that’s a good one! I’ve seen that before, except it was Wyoming substituted for AZ.
You could probably substitute at least half of the 50 states for AZ in that joke.
I know it’s just a joke, and a funny one.
For sure the procedures and bureaucracy in the joke are out of control and not productive.
But… there are not 33 million people in Arizonia or Wyoming.
In the same sense Macon GA does not need the same depth of rules and procedures as New York City.
That was Governor Rick Perry of Texas, you dumbtwats
yep
401Ker, here is some reading for you on the 50/200 crossing.
http://ibankcoin.com/woodshedderblog/2010/07/01/what-you-need-to-know-about-the-death-cross/
That S&P chart looks Ugly….(capital ‘U’ intended)…..fast and loose, and all over the place. Like a guy trying to romance his girlfriend, who’s banging every swinging dick in town, people are eventually going to get hurt trying to trade this market.
I suggest a quick breakup is in order.
Enjoy your weekend.
Agreed, it’s crap – doing nothing is boring but better than getting your head handed to you.
Of course daytraders are in heaven but that’s another story.
OFF course
heaven ?
bah.
Wood’s system is designed for this kind of volatile market and is a perfect way to play the current market.
Every one of the six trades I made during my trial period would have been a winner if I has only followed the system. However, I pulled the trigger early on the last trade making it a looser. Still 5 out of 6 winning trades with an average gain of a1.6% gain ain’t too shabby.
When the market shapes up, I like to play an O’neil version of swing trading, but during these times, Wood’s Power Dip System seems to make sense to me.
Just something to think about!
Thanks 5-0!
President Obama is visiting Acadia.. looks like he’s following in your footsteps.
http://apnews.myway.com/article/20100717/D9H0O8800.html
I’m happy that the TWM I bought Monday (near the high of the day, of course) finally turned green late Friday. Hopefully I will be able to sell it before the market blasts off higher again.
Amd looks like it ready go higher.
Re: Apple iPhone antenna-
“Low radiation” cell phones and fewer cell phone tower sites are mutually exclusive with improved reception.
Actually “low radiation” is nonsense anyway because the cell phone automatically adjusts transmitter power to the minimum required. More cell sites mean lower cell phone transmitter power, and greater safety. This is a major “duh” thing the NIMBY and environmental crowd does not understand.
I’m not clear why Apple apparently put the antenna on the exterior of the phone. Any engineer would know that a person touching an antenna at that frequency would de-tune the antenna, resulting in poor performance and increased safety risk.
It is amusing that a de-tuned iPhone antenna, with transmitter power ramped up to maximum, results in reception complaints on the AT&T network.
bounce off 105.80 spy. could hang there for a 2-3 days
Sir Fly, Looks like the Obamas are on your trail.
From CNN, “The Obamas plan to spend the weekend on Mount Desert Island, home of Acadia National Park.”
Ding dong the wicked witch is dead.. Got to be prepared.
The Fifth Estate rocked out pretty good on this one, all things considered.
http://www.youtube.com/watch?v=uA-SxvDfsQE
Turd
I dont think you used enough insults
gentleman, as always your all wrong as to the reasons why the market tanked..so i will set you straight and this is the only reason why the market tanked..
erin burnet took off a few days which causes global market disruptions …so for you i give you this
http://www.youtube.com/watch?v=-2FJWRy74h0
If you really think we’re “grinding our way to oblivion” and that Hugh Hendry is right, your strategy has you pissing in the wind. Doing a fine job of it mind you, but pissing in the wind nonetheless.
if pissing in the wind = earning weekly coin, so be it.