Everyone loses, eventually. This is the sort of market that befuddles both bulls and bears alike. I am sure many of you pressed your bearish bets into yesterday’s close, then redoubled them again into this morning’s weakness. You’ve played yourselves into a ‘fag box‘ and now you’re all bankrupted.
There isn’t a rhyme or a reason for today’s late day rally, other than the fact that some people have figured out a way to harmonize mathematics with price action, ergo, finding an exact level to bounce from (SHOMP). Will the market go up from here and will there be a summer rally? Who knows? I am merely moonlighting here, trying to panhandle enough dollars now to survive the real decline later.
This is what I do know. If you’re short going into this fine weekend, you will find yourself to be exceedingly uncomfortable after learning of a Russian-Ukraine peace resolution is in the cards. You might feel a bit uneasy after seeing the NIKKEI romping around, going GODZILLA on its shorts. And, finally, you will soil yourself, after seeing medieval devices rolled into the city square, for the purposes of silencing those who talk too much.
If you enjoy the content at iBankCoin, please follow us on Twitter
OPEX dude…don’t overthink it.
Tell that to the guys who OPEX’d at zero.
I made back 12% of yesterdays losses on the long side. Just need to do that 9 more times to undo what i did yesterday.
You are up 12% for the year? Damn!
No, i lost 2% of my portfolio value yesterday. Today I made back about .2%.
Long story. I have to update everything this weekend but i bet I am up 1% or maybe 2% for the year. Terrible.
Oh – sorry, read your comment too fast.
I’m up about the same for the year but I am also crippled inside. Especially after two consecutive down years, (the only two I had had since my utter ignorance during the dot-com meltdown).
Huggie
you’re out of your fucking mind. 12% in a day isn’t normal.
see above…i made back 12% of what i lost yesterday (which was only 2%).
Grandma Yellen style trading. And Brazil.
Next week should be interesting. Good luck.
Believe it or fucking not
(meaning I have some Awe)
The 1897 Intraday high from six weeks ago I thought was a top
Still relevant, Actual all time Closing high now magically is
1897
http://en.wikipedia.org/wiki/Milestones_of_the_S&P_500_Index
India, Sahib, India. Long and longer INDY
INXX, bitches. The story is about infrastructure.
I had a great week mad money every day only to give it all back with a SHIT stock I sold today. I’m one DUMB Son of a BITCH! However DXCM seems to be working. That’s all I hold right now.
It is worth 1880. Carry on.
Po Pimp still around and well? Miss his health advice on the benefits of smoking cigarettes while riding a bicycle to pick up a six pack.
Still here dog. Gave up the ciggies a year ago and ride the bike about 3x as much before picking up the 6er.
Word.
Glad to hear it.
Swiss francs. Swiss equity Novartis and Nestle have growth and safety. ACE looks too good.
Today the market held above yesterday’s extremely oversold SPX 1862 low. Then took out yesterday’s rebound high at 1872. Thus far, the market has held the SPX 1860 and 1851 levels noted yesterday. While a test of SPX 1860 is still possible, it would certainly create a positive RSI divergence on the hourly chart. Possibly setting the market up for a more sustainable rally. An interesting sector/index relationship will be offered in the weekend update.
Short term support remains at the 1869 pivot and SPX 1860, with resistance at the 1901 and 1929 pivots. Short term momentum hit overbought after yesterday’s very extreme oversold level. The short term OEW charts turned positive today with the reversal level now at SPX 1873.
http://caldaro.wordpress.com/2014/05/16/friday-update-397/
Given that both the Russell and Nasdaq are below the 50&100 day average, the Dow and s&P are currently sitting on the 50, it would seem obvious that we are in for a downtrend at the very least.
The question burning in the back of my mind is what comes next? With the Fed, indeed the world, effectively out of bullets, where does the rebound come from?
Tech will bounce over the coming month(s) – valuations are still strong in the VC market. This is a buying op folks.
http://blogs.wsj.com/digits/2014/05/15/pinterest-is-now-valued-at-5-billion-despite-almost-no-revenue/
That’s a mean guillotine
.
… Black Friday …
When Black Friday comes…
I’ll stand down by the door…
And catch the grey men when they…
Dive from the fourteenth floor !!!
When Black Friday comes…
I’ll collect everything I’m owed…
And before my friends find out…
I’ll be on the road !!!
When Black Friday falls you know it’s got to be…
Don’t let it fall on me !!!
~ Steely Dan ~
.
What song is that from?
.
… ah hem … Black Friday …
from the Steely Dan Katy Lied album !!!
.
I’m a PPT member but haven’t used my password in a long time. Do I need to sign in to change my little guitar pick dude?
Sloop
I implore you to sign in on Monday
OK, will do
Yen carry trade.
DEACON BLUES
http://www.youtube.com/watch?v=Ck1N1I-LzWc
This is me this weekend. I fucked up. Had a nice little chunk of change. Fucked it off in one unnecessary trade.
.
… Just Don’t …
… drink Scotch Whiskey … all night long…
And … die behind the wheel !
.
.
BlueStar stated … emphatically, in a previous post …
—
“All bear markets start from new all time highs. Its a paradox!”
—
I ACTUALLY wrote that shit down on a post-it !
I am NOT quite sure what he exactly means … but, I wrote that shit down !!!
Ah hem … on a post-it !!!
.
.
… I am holding off on a permanent tattoo for the time being !!!
.
LOL!! good one pop’s!
.
… GO TO YOUR ROOM !!!
You’re grounded !!!
.
.
… this belt isn’t for just holdin’ up my pants … young man !!!
Make NO mistake about that !!!
—
What are YOU (for Gawd’s Sake) ???
Like 55 years old ???
—
Give tha “pops” shtick … a rest !!!
.
Alf is truly the mayor around these parts.
.
… NO !!!
YOU … YOU … are the “Mayor” !!!
NO mistake about that !!!
—
I am nothing more than “Wavy Gravy” … at Woodstock !!!
—
What we have in mind is … Breakfast In Bed for 400,000 !!!
ENJOY !!! .
.
“fag box”
lol
Where does this stuff come from???
You are too much
I pray Mrs. Fly has a good sense of humor.
Black swan pipe man–good reference in these days of wedge . . .
Looking forward to next week…replete with visions of unmanned scrotums littered about the town square.
http://caldaro.wordpress.com/2014/05/17/weekend-update-448/
During a bull market these consolidations are usually bullish. But after a five year bull market they can also be considered to be a topping formation. This kind of action has kept many pundits guessing the next major move in this market. When one compares the SPX daily chart with the NAZ daily chart, both above, it is quite clear why the SPX has been in a trading range. The NAZ has been heading lower for most of that period. An upside surge in that index, which is expected eventually, will certainly usher in an upside breakout in the SPX.
—————————————————
Now you swear and kick and beg us that you’re not a gamblin’ man;
Then you find you’re back in Vegas with a handle in your hand
Your black cards can make you money so you hide them when you’re able
In the land of milk and honey you must put them on the table
You go back, Jack, do it again, wheels turinin’ ’round and ’round
You go back, Jack, do it again
Riki don’t lose that number
You might need it if you feel better, when you get home..
Sell some crap and move on.
But I can’t step off the ownership ladder, everything has to be reinvested except the debated 20% cash. Which same cash has made me feel foolish for several years, but it is really good for dampening volatility. Figured at first, cash was for opportunities but no. It was part of portfolio paralysis in the end. So there it still sits earning squat, but at least it shall not grow bigger.
Talk about your major pain and suffering
Now our self-esteem is shattered
Show the world our mighty hidey-ho face
As we go sliding down the ladder
It was sweet up at the top
‘Til that ill wind started blowing
Now it’s cozy down below
‘Cause we’re goin’ out of business
Everything must go ….
Hey guys here is a stock to watch VIPS this is a china e commerce stock. I bought it at 141 and like a fool sold it at 146 look at the chart. It jumps 5 to 10 points in a day. 170 is not far fetched given the mkt holds up its 151 now
http://video.cnbc.com/gallery/?video=3000266224&play=1
Thanks for that link… What can I say…. I have seen VIPS shoot up like hell. BUT FUCK!! who knew?? thanks again,
That was the reason for the 5 point drop Friday…now it makes sense