Part of my strength is the ability to surround myself with intelligent people. For those of you living in 0hio, regrettably, that is an impossibility. However, living in the financial capital of the world, I get to meet some smart people–people who know things.
I met “The Devil” a long time ago, many, many moons. He gave us some ideas and they all panned out, exactly as he said they would. His win rate became so absurd, so incredulous, I nicknamed him “The Devil.” I had no reason to believe he was not “The Devil”; hence, the nicknamed stuck.
During the course of today’s trading session, “The Devil” and I were bouncing text messages back and forth.
Have a look.
Now his name is revealed!
In case you didn’t notice, the Dow closed 6.66 points lower today.
In short, we’re going the fuck higher people. Get your space helmets ready.
[youtube:http://www.youtube.com/watch?v=PQyDCjXnahU&feature=relmfu 603 500] If you enjoy the content at iBankCoin, please follow us on Twitter
FIG
A sign from the Dark Lord DOW closes down 6.66
The number of the beast!
The S&P’s intra-day low of the bear market of 2007 to 2009 was 666(.78)
I ended marginally in the green today after being down something like 8% intraday…crazy.
I hope this is the beginning of a giant bounce. I needs it.
Just buy the dip fellas. Rumors are about to start. Doesn’t matter whether they could ever work or not, just matters that they’re saying them. That time of year. BTFD.
Donkey Punch thinks the world is going to end possibly in December, and not because of the Mayans. But Donkey Punch is going to BTFD right here.
Rumor Du Jour: Merkel is going to guarantee all Eurozone deposits.
Get on it.
Not the Devil, The Fly’s Fly.
So I didn’t buy TZA today like I thought I might. Will I regret not buying TZA today? Not sure. We finally got a day where they sold ‘em in the morning and bought ‘em in the afternoon after what seemed like an eternity of the opposite dynamic. Makes me think the odds are we’ve seen the lows for this pullback. Either way, I’m not adding to my longs unless and until we don’t go higher and instead go much, much lower.
Here’s the scenario I’m playing for;
I think we’ve reached the other side of the mountain in $RUT. I scaled into shares of AGQ, shares and calls of TNA and shares and calls of UCO over the last week. I’m looking for the rally portion of a bear flag setup that takes $RUT back to its 50-day around 805ish. I’m still long a bit of URTY from 2011 that’s underwater and want to use the gains from selling AGQ, TNA and UCO to cover the losses I plan to take when I sell out of URTY.
Then I will be completely out of longs and, in the immortal words of Alf, it’s time to get shorter than Verne Troyer.
When the markets are the toughest your posts are the best.
Bundesbank buying euros.
Greek exit “manageable”. ROFL!
The Buba is drinking the kool-aid.
I’m staying in the bunker.
Let’s fuckin do it, I am ready to dump YELP and ZNGA, and move on to far less stressful shit.
UNLEASH THE CLAM!!!
What happened to those headwinds?
Ben wants EVERYBODY in the market. He wants Grandma to buy high beta crap-shoots so that small companies can hire criminals that can cook their books to make them look even bigger than they are thereby posting huge profits.
This is going to be a rip your balls off election year rally that will make history.
To see victory only when it is within the sight of the common herd is not the acme of excellence. #suntzu
I had lunch with the devil @ 12:30. he forced me to buy spy june 135 calls @ .74 Its amazaing, and the dow is down 6.66, you cant make this shit up
regards
chuck
OEW Recap:
“Quite a volatile day as the market gapped down at the open, traded down to SPX 1297, and then rallied for the rest of the day. The DOW made a new downtrend low during the decline, but the other three major indices did not. This is a positive divergence. Remember the DOW made a new high on May 1st, while the other three major indices did not. That set up a negative divergence. The SPX was at 1415 then, and declined to 1292 afterwards. Today may have signalled the end of the downtrend. But we’d feel more comfortable about that when the SPX clears 1322 (see below).”
“Short term support remains at the 1313 and 1303 pivots, with resistance at SPX 1328 and 1342/47. Short term momentum swung from quite oversold to slightly overbought during the day. The short term OEW charts remain with a negative bias from SPX 1395, with the positive swing point now above 1322.”
German austerity beach party! Everyone’s invited!
http://www.youtube.com/watch?v=NNNR8UX7oKk&t=0m24s
Ohhhh, Rammstein! We can play 10 ways to make a Greek scream!
Not to mention facebook closing right at $32, which coincidentally, is reportedly where institutions were talking about during IPO pricing..
“Institutional investors, having digested the news of the underwriter estimate cut, were comfortable buying stock at $32 a share.”
“Retail investors, meawhile, who were presumably unaware of the estimate cut, were comfortable buying Facebook at $40 a share”
Oh, and the bullshit story about candy killing Afghan kids? This is the last line of the original:
“Following the press conference, Colonel Marshall tried to exit the podium, but tripped and crashed into a group of civilians, killing 9.”
It’s a fucktard’s attempt at writing for The Onion.
Tried to leave this on the news site and couldn’t log on.
thnx. I didnt bother reading,
Wow nice call on TEX Fly.
I wonder which ANR ‘The Devil’ bought..
Damn son, you have the new 6.5 inch iphone already!
It only appeared to be 6.6 inch from the drone at 40k feet.
staring at that red 6.66. helmet in hand.
Hello Sir.
Paranoiac suggestion: The conversations you have are valuable and make you vulnerable. I suggest not using plaintext to have such sensitive conversations, even though you chose to share this one with us.
Find some app that will encrypt your text messages. All war is based on deception – information is everything.
With love,
The Paranoiac
Snark
Thanks. Silly oversight.
Problem fixed.
Crazy day this—
Unleash the Clam, wasn’t that an Aretha Franklin tune?
Ironic how all those unintelligent folks in Ohio will probably decide upcoming election.
Classic post Sir.
Wow, he called SPY closing green at 240p? What did he know?! That’s just wrong.
I wish I were that smart, but guess what… I live near Cincinnati, so that rules me out.