I spoke with “The Devil” today and we went over the current state of affairs. He’s never been so convinced of lower prices, looking for a “Minsky Moment.” Essentially, he believes the decrease in volatility/spike in complacency is the market’s biggest headwind now. We are setting up for a large downside reversal and no one will see it coming, except Scott Bleier of course.
I’ve taken liberties to raise more cash, booking a 12% gain in DMND. It was nice playing with the ideologues who swear on bibles, but I have money to make and don’t have time to play games with you. Chalk up another win for Senor Tropicana (African jungle music).
I’m tempted to buy JMBA and PSUN, both small cappers with interesting turn around stories. However, I am exhibiting patience on a monumental scale. After all, someone has to set a good example for the children out there reading iBankCoin. Why don’t you infants grab a bib and BEHOLD what I am about to serve you?
Look for the dollar to trade up in the short term, as it is bound by certain parameters, most expressly communicated through the harmony of mathematics (SHOMP).
I will be taking on a hedge today.
UPDATE: I bought HDGE
http://www.youtube.com/watch?v=XfSJwK_V3Bs
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lol…
Just a reminder of my last weeks media appearance:
http://finance.yahoo.com/blogs/breakout/costanza-trade-why-market-irrational-113021826.html
ya helped me decide to keep my gold trade n buy more.. thanks
took 25% of my acc. and bot a rehab. i hope for a10/15% return(rental). hows that for sitting this mkt out.
Everyone’s going to realize we’re in a global recession all at once, and that China is not here to build a couple thousand vacant cities to keep growth alive.
Time for the TZA? Don’t tell me you’re thinking VXX again. That’s a POS.
sold vxx today for 4+ gain. its not a long hold. days at best.
Waiting on any particular catalyst in $MRVL?
just bot slv, holdin bas.
I have %110 confidence in the PPT to guide me through a profitable autumn of oversold and overbought conditions.
C’mon men! Let’s hold together and come out of this with banked coin!
Romney says he does not support another Bernanke term.
IDIOT!
Doesn’t matter since he’s not going to get elected.
I think most have been waiting for at least a pull back. I just hope it’s not a flush lower.
“If the market does break through SPX 1407, there is good support between 1392 and 1396 for a Minor wave 4 low. Breaking that support area, and then SPX 1375 would suggest the uptrend ended at 1427. ”
According to OEW, if we hold support at 1392-1396 then we will have a minor wave 5 rally to new highs.
If 1375 is breached then a good correction can be expected ….
Nice chat hey.
Futures are at oversold levels on day. Below here – hard hats.
Storytime: I bought this fabulous pocket watch from a local antique outfit in the small town where I reside the other day–so cool–made in, like, the 20s, the 19s, I mean, and the number font’s stunningly attractive and unique as hell, so, naturally, I had to have it. Besides, I’d been looking for something like this to tell me the time for years. Never found it when I looked before at a million antique outfits, so i grabbed it, without a second thought, for 200 U.S.es. Good thing is it don’t need one of those dirty batteries, you just wind it. Sad thing was, the winding apparatus was a bit slow. However, I took it into the local jeweler and he fixed it up nice, it ticks and tocks, cost me five bucks, now, it runs splendidly, I wind it each morn’ and I know the time AND I get to gaze into the beauty of that face. It gets better. The thing has a history too! I mean, it’s like value on a stick that just got longer! I am telling you. The jeweler suggested I look up the watch’s value online, so I did. I found a website that described this said history, and I found that the watch, an “Illinois” ran by a couple richoes in the late 1800s, were the very financiers who brought the young Abraham Lincoln to Political prominence, during those times. And, they were the very force behind upgrading the time’s technology by synchronizing time at all railroad stations, worldwide, the railroad being another of the time’s definitive, innovated technologies. I’m not saying, particularly, that I’m proud to have this clock because of the history of monied corruption, I’m just saying, this watch I stumbled upon via my eye of spotting beauty, has value, not just because of my eye’s innate ability to do so, but also because of its story and because it lived through a history we all share, and of course, it is made of gold and things of this sort of value, (no plastic). If, for instance, my find had been a relic from the South’s influential past, the item would have had value as well. Value. What is it? I’m just thinking about it these days..
Who’s going to read this shit?
That was a very lovely story and you told it so well.
Nevermind. This story’s got a blue ending: the thing has lost all value as a time piece. It won’t tick, nor tock, consistently. Value’s a fickle concept.
“…and no one will see it coming, except Scott Bleier of course.”
HaHa, good one! Some people are so interested in trying to capture the pullbacks, while ignoring the trend.
By the way great entry/exit on DMND