I’d be remiss if I didn’t talk about the iBankCoin 7th Annual Dinner, starring the world’s best financial blogger who has ever lived.
In attendance was The Option Addict with wife, CHUCK BENNETT with girlfriend, VINCENZO ILLUMINATI, Ragin Cajun, ChessnWine, Cronkite, “The Fly” and my wife. On the menu was mutton, excessive quantities of raw oysters, shrimp, lobster–and as much bordeaux, bourbon, cognac and white russians (extra Dude) that our bodies could contain. One thing that was discussed and possibly agreed upon was for Option Addict and Chess to host a two day seminar, most likely to be domiciled in Las Vegas, a fine excuse for some of you perverts to come out and hang, learn a little, then proceed to cheat on your wives.
As for The PPT: I’ve been informed, in no uncertain terms, that it will be done within a month or two. Mr. Illuminati is working extra hard and has upgraded every single aspect of the software. Current members and prospective members will be thoroughly impressed.
Here is a screen shot of TLT’s August seasonality.
Futures are edging higher this evening. If we do not tank on the open, we shall shoot straight up. That’s my call and I am sticking to it. Ragin Cajun believes we are going to tank this week. Let the best man win.
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The more I think about it, the more it feels like a top, and this is the first time I’ve called top I think ever because I was too dumb in 2007. But ARGH, I can see OA’s scenario too. One could argue that it would be obvious… well I’ve seen some obvious things like outflows of money even on up days etc. This is a tough one.
It is NO QUESTION, a topping process
Which started Dec of 13 give or take
I have tried to call a couple specific tops, bc I KNOW, someone is using numerology symbolism with closes etc
That, is the only reason I’ve tried though, bc the “stupid factors” that exist for a top have been there for “quite a while”
In other words… forget it. irrelevant
it seem like it should be a top but it isn’t I wish it were because I’d love to sell and buy the pieces like I could have done in 2009.
I hope you are right going straight up . My guess monday down. tuesday flat .. wednesday shoot straight up
Yes, straight up the ass. Indeud.
We open up Monday, modestly. HuggieBear closes the remainder of his TNA position for a very modest, but nonetheless infuriating, loss.
We then proceed to decline for the remainder of the day. Not a venomous decline, but a slow, listless, and yet persist decline. Tuesday, we open down and go lower from there. We bottom out sometime on Wednesday, after dipping down into the 1800s on the S&P, we reverse higher and close decently off the lows.
Thus begins what everyone believes will be a run to new highs off of support. And run we will, but we won’t touch the highs again. We’ll find significant resistance back around 1950-1960, and then we will begin the serious decline which will commence in late august and continue for many moons.
I plan to short the coming bounce with a great deal of fervor, focused on some of the dotcom companies that are either without profits, or those that have ridiculous multiples.
The day of reckoning is coming.
i you say so , it probably wont happen
or maybe it will
The world is leaning short. We rip higher tomorrow.
We are not the world. Lots of people expect a bounce tomorrow. Then again I dunno WTF the general public thinks. They apparently don’t have their money in it anyways, which is another reason it might not crash… then again lots of money is in it from COUNTRIES. 😀
Bullshit. 95% media is bearish. We rip tomorrow.
Everyone loves a motherfucking bailout son. This is a can’t lose world foo, get your beak wet.
where/how do u get the 95% number? ty. i bought some calls at friday close.
Ah crap MW is saying crash so you’re probably right.
Everyone on stocktwits is calling a bounce for Monday
Short? Who the hell is short? It’s positioning that matters. What happens tomorrow I have no idea. The question is were are we in 2-3 weeks. My guess is lower.
That seminar sounds like a winner to me especially if it’s scheduled in the dead of winter, say between November and March. Playing defensively now until your promised rally kicks in.
I will definitely attend the seminar. Great idea gentleman!
I might attend the seminar if it is properly appointed, and i can attend under my pseudonym.
It’s not the top. It needs one more…. Prepare yearlings.
Tops do not happen when people are talking about tops. Or. That is total bullshit and people are always talking about tops when tops are happening.
What matters at Tops is positioning. Talk is cheap. People having been calling the top since 2009. What is interesting is that we have wiped out the whole years performance in the DOW in a few days. Just step back look at the DOW chart and ponder that. Then look at the 15 year chart.
Like this bluestar?
http://imgur.com/4DtzwCu
Watch the Dax. Under 200dma. Europe/us market control is fairly coordinated. If they restore the Dax support/trend, we probably will too
DAX can’t do it all night.
top or no top, the OA and Chess were just in the same room and the market did not crash. now we are talking of tempting the fates and doing it again? EPIC.
looks like a big rally today
Mutton and oysters…got to be Keens
I have been to the Keens. Loved it. It reminds me of Warren Buffet’s haunt here in Omaha called “The Drover”.
Mutton nd oysters? Rocky Mountain oysters?