Many of you are sitting by the fireside now, contemplating all of that delicious coin you are about to make tomorrow. You glance over at the futures and get a stiffy, for you are about to enter the stock market Hall of Fame, as “best investor in the history of the world.”
Warren Buffet can suck your cock, for he is old and stupid. Fuck his billions. You got thousands.
Anyway, you’re sleeping with a calculator next to your bed and figuring out how much money you are about to make. You figure, if you can make x amount of dollars by next week, you too can shop at Whole Foods like Le Fly. Up until now, you’ve been living out of canned and cardboard boxed food, like some sort of homeless fucker living under a bridge.
Do not count your chickens, for they have yet to hatch. As for me, I have contingency plans in place, in order to counter-strike all fucktarded events that may aim for my large balls. In other words, I shall fucking win, you miserable cocksucker.
Bet against me for too long and find yourself eating spam under a bridge.
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The Fly Is God.
CMI looks like a killer buy here
That what I said at $45
Yup and it’s going higher
Why aren’t you still holding?
Too-shay!
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I just finished some publix brand crunchy bran flakes out of a cardboard box. It was served with a smile.
Marty Feldman, nice!!!
Hey, some good stuff comes in cans and cardboard. Try a nice spam and cheese omelet. 🙂
Why eat spam when you can eat a sandwich in a can? http://markonefoods.com/
Yummy…… Astounding innovation….. howabout fetus soup in a can?
Dow 9k.
spam is good ,been a while ..maybe i will pick some up tomorrow if i remember
HRL is not a bad call, fwiw.
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Stiffy sounds British, I like the term woody better. Futures direction at this hour mean nothing really.
OEW Weekend Update:
> With a slight positive RSI divergence on the hourly chart and a sufficiently oversold MACD, we’re expecting Minute wave 3 to be underway now, if not shortly. Also, we can now raise our ‘key’ support pivot from SPX 1041 to SPX 1058. With the current wave structure the OEW 1090 pivot is support and the OEW 1058 pivot is key support. A break below the 1058 pivot would put the wave structure of the entire rally from SPX 1011 to 1121 in question. Overhead resistance is at the OEW 1107 pivot, and then, the OEW 1136 pivot. Once the market clears the 1107 pivot it should be on its way higher. <
All eyes on 1107 (Onward & Upward) and 1058 (Oh Shit!) …
Hey Teahouse,
Where do you get these updates?
TIA
http://caldaroew.spaces.live.com/?_c11_BlogPart_BlogPart=blogview&_c=BlogPart&partqs=amonth%3d7%26ayear%3d2010
Bookmarked. Thanks!
Cant make chicken soup with out adding a little chicken shit.
I hope you make some money soon so you can get out of that soup kitchen.
Well, tonight we have that darn China Billet market on crack again and India Spot Ore on the rise too. They are trying to convince China it’s 2009 again and they better buy cuz India is going to cut supply on them….as a result Shanghai Comp and Shanghai Futures are on Crack too…..but Fly is right, we are so close for the bots to take us down nice and hard….bulls of course will try to hold support but they have so little firepower left. Yeah, the Steel plays, global growth stuff could rally tomorrow if Europe survives their wave of PMI data tonight…..but very hard to push to the upside, and so easy to get a sweet sell off.
So Nymph how are you positioned right now.
Cash
Long
Short
Cash and SMN, DRR, FXP, AUY, VXX, Oct puts on CLF…which I will be hurt with tomorrow…yet, as I put in my weekly article in Peanut Gallery I don’t think I will hurt that long cuz I don’t see India push up on ore that strong due to volume and demand…we will see.
Ouch!
Tea…That is OK, IMHO India shot all it’s bullets last night…they need to actually need to expand the ban to a total ban…if not, someone may call their bluff. This is a weak hand rally by shorts that are in panic mode. I have held on the wrong side of PMI “party hat” rally s before….won’t be the first.
Stop thrashing about and attend to the theme!
Or simply get thrashed. The choice is yours.
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It’s official, The V.King is the King Maker…ask Lame Thaler. Now I shall destroy the puppet Turd who I single handed put into the KoPG…His “crappy” analysis is not worth reading, never was.
On a business note…I have standing orders to SELL my IOC position at $63.55…should be by mid-week, according to my Triple Dip Ticky Tock Reverse Cow-Girl Charts …
The V.King not just a self promoter
You are king, even when you’re not. PNG is yours. Congratulations on a well-fought conquering. On both strategic and tactical levels.
What future plans do you have for PNG, if you don’t mind sharing.
I am trying to convince The Fly to spin it off and “IPO” it…Or let me buy it out so I may sell it to some worthy publication …perhaps Swank Magazine or even Craked.
I might lower my SELL on IOC…developing
Classic post, LMFAO
nevermind
Glad I am a developing a nose for market fuckery. When the market is at critical technical junctures, the billions in taxpayer stimulus is used by large investment firms to prop up the market, to ensure it continues to go up. Technical analysis now serves the additional purpose of identifying market manipulation — a signal to reverse one’s position in the market, perhaps.
The manipulation was rampant on Friday, so I sold my VXX and now I am very glad I did that, as it was (minus) -2% on the open today.
Good sir,
take it like a man… shit happens…
I win , again.
now , this was a nice time to swing-sell ( WE ARE 10630 and thebull-shit sure enough it’s not finished and far from .. 😉 )
no way this entering volumes are to take the tape down ( mid term ) , in fact we’re up ..
Cramer called this move on thurs. Show. Said the money mamagers would see stocks as cheap and money market monday cause we are now offically in 2011
don’t give a shit about Cramer..
one day is right 6 days is wrong .. as the 100% of media bloggers..
i don’t get why some ( hope few ..) people look his shows ( shoes, maybe ? )
Cramer wont turn bearish until Dow 7k.
He will then brag how he “Kept you safe” from Dow 7k to Dow 6500.
Dont fight the tape. Being 100% short is gambling. We could go much higher before we go down again
Long DXD , Long VXX
I have not been this bearish since Dow 11k, in april
The dollar is displaying one of the most vivid “Bullish descending wedge” daily patterns Ive ever seen. The slightest news out of the Mideast, or N Korea, and it explodes to 90.
IF ANYTHING happens in Iran, Hormuz straight will be closed for months.
How would these fund managers allocate around a 30% spike in energy costs? Buy more CMG calls?
“Play the tape you see before you, not the one from your fevered dreams of a broken Xanadu”
— Samuel Taylor Coleridge, November 1817
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“Play the tape you see before you…”
Amazing how many people let their ego get in the way of what should be the easiest of actions.
Indeud. Since I started hanging out here a couple of years ago I’ve become a much calmer trader. Reading the comments gives me the opportunity to be wrong vicariously, thus protecting my trading capital for profitable trades.
Usually the market is deceptively simple, not deceptively complex. It is our brains that are complex.
Truer words were never spoken.
Wood, If we still had karma points that would be +10.
they had tape players in 1817 ?????
They charted with astrolabes, while on opiates.
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Playing a geopolitical event? You might as well be playing your state lotto while your at it.
Ok, lets subtract all geopolitical event possibilities
Then there is STILL a giant bullish descending wedge in the Dollar daily chart. It was by that same pattern that we marked the SPY lows in March 09.
The dollar is crashing, dude. I think you are describing a giant bull-wedgie, ovah heah.
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Hey P.Orange, been watching the dollar, and ur prolly right abt the wedge – but y not play its break or if ur concerned abt missing it, y not opt for some longer dated dollar index calls etc etc…..dxd and vxx, when they r going opposite u is just painful, otherwise
The Euro banks are good. They kept them as banks. Not gov’t insured hedge funds.
Up 178 Dow points and cut through SPX 1107 to 1122 like a hot knife through Buttah!
Fly is scrambling to offset his VXX by deploying his cash and cutting his TZA & VXX positions …
More on this latter by Fly himself. Developing …
Me, I’ve learn to surf the free seas of OEW (as I’m an internet leach) and am enjoying being nearly all in for the Big Kahuna of waves – Primary III. No PPT for me yet but still banking coin! Odd, no?
Entering the stock market HOF now with a Giant Woody.
LET IT RIP!!!
Not as much as if you were on the PPT.
That’s just a fact, so sorry.
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Don’t be so sure … though I do believe in the PPT for research and will be there eventually, for now, a rising tide will lift most boats so stock selection isn’t as tough as it would be otherwise.
Getting out from under the Bourne Bridge, tossing my spam to some homeless fucker and reconfiguring the GPS for Whole Foods Market now … Filet Oscar with a nice Pinot Noir tonight!
I’d like to add to Jake’s post. Mr. Teahouse if you’re making so much “coin” why not spend a little of it and step up into the big leagues and use the PPT?
I’d say it’s because you’re probably dirt poor and you’re most certainly incarcerated at some state institution. So I realize you have a lot of free time to waste searching for “free” info about market trends written by idiots who would give advice away for schmucks to read. Then you post here just to get a small thrill of being around a few men of high society instead of getting butt raped by gang bangers in you cell. Hence your need to come here and blog…to ease the pain of being you.
Wow! You must be a hoot to hang out with.
That’s why your pumping iron and I’m banking coin … hahaha!
Some people have to lead the way, create some stats for PPT to read and tell the other folks what to do.
nice call, I should be reading teahouse’s blog.
12631 here we come, told ya so!
Long an additional 1/8th DXD allocation at 25.63. 3/8ths allocated short via VXX+DXD. Looking to scale back to 2/8ths or less by bell.
Market has No real support until the R1 pivot levels on every major index
http://chart.ly/k97wrx
I find it relaxing to eat spam under a bridge.
There is a reason for “ass” in assume/assumption.
Oops Timmay is talking shit again, calling people morons when he’s the one with over 200 short positions. Fortunately he’s been a big enough ass over the past few months that there is plenty of fuel for the fire. I guess he’s worked up because his self-invented comments system appears to have been designed by sixth-graders with a lesser understanding of the realities of the internet than my mother. He puts a “feature” in place that allows users to suppress each others comments after one or two clicks and he’s not the moron? Now he’s hurriedly sifting through account information to uncover the culprit(s) so that his tribe of nincompoops can take revenge. It’s bad enough that he’s trying to re-invent the wheel, but doing it in such a sophomoric fashion makes you realize why so many I.T. projects fail, because the guys that think they know the most know jack squat.
I have an 80/20 rule for that sort of thing. It’s purely empirical, but it seems to work. “Eighty percent of all people in I.T. are incompetent.” Simple, elegant, effective.
I’ve made a small fortune off of that fact. The boobs usually fall into two groups. Group A hides from anything that smells like a detail or a nugget of knowledge. Over the years that hiding atrophies their brains to the point that all they can do is schedule meetings and refill their coffee cups. Group B spends their entire day spewing forth a seemingly limitless torrent of high-level concepts and regurgitation’s of other peoples words. They only stop talking long enough to breathe under the assumption that if they use up every free moment nobody else will be able to point how little they actually understand.
Hilarious and excellent
I went over to check out what you are talking about and came by this post:
Although my full-time occupation is hedge fund management, I also direct the feature set of my first-born child, ProphetCharts.
WTF?? Is this toolbag actually claiming he’s running money for someone? Who could be that dumb, and when can we expect a head-line on this?
Then there’s this…
Speaking of ProphetCharts, some of you may be wondering what’s new about the Second Edition of my book. Is it just a nice new cover and an updated copyright date? Nope. It’s about 25% larger, three years more up-to-date with respect to features, and it has a lot more with respect to my own trading philosophy.
Holy creestmus, and I thought Denninger was deluded….
As I’ve mentioned, I’m happy to send you a signed copy of the book at a 20% discount. Just sent a $60 check made out to Tim Knight to the address ….
Get that? Submitting to the autograph earns you a discount!
You could not make up higher “carmedy” with a passel of Benny Hill writers….
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Like I said, a lot has transpired since last we discussed ole Tim and his merry band of “professional traders”. When he decided to run with the concept of being a hedge fund manager he put up this web form to gauge the interest of his readers. It was high comedy when he had to post a follow-up reminding everybody that you have to have more than $25,000 to your name to invest in a fund. Or how bout “Slope-Fest” the first ever physical gathering of his brood, he did another web form to gauge interest and got a huge response, then when he mentioned that attendees would have to pay for food and drink the number fell off a cliff. They ended up pushing two tables together at some bar and calling it “Slope-Fest”…….
You’d think his hedge fund would be able to expense a shin-dig like that….
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When eveyone is greedy be fearful does that apply today.
sick of holding my AGQ that I bought at 57, so I’m seling it for a tiny gain @60.50
I’m raising cash now as these markets wil probably be quite bearish when they finally top out. Volume declining since May, rallying into oversold conditions in many indicators and again resuming this rally after only a slight rest. RSI is uptrending, but doesn’t have a ton of room to go until it is also oversold. Will clear out to cash completely at around 1140-1175 SPX, potentially gradually adding inverse etfs, depending on several things