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Dr. Fly
Indeud

MARKET REVERSES MONSTER GAINS; ANARCHY ENSUES

Dr. Fly Wed Dec 9, 2015 12:13pm EST 8 Comments

I spoke too soon. This fucker isn’t done going lower. However, now that I’ve said that, we’re liable to rally.

Market has reversed nearly 200 points in Dow wins. We’re now descending into the 5th ring of hell, fending off centaurs and blood sucking bats.

SPY

This has the feel of end of year tax loss selling, fuckery at its finest.

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8 comments

  1. og
    og
    December 9, 2015 at 12:24 pm

    Damn. Drive to work and missed my chance to sell this morning.

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  2. levrage
    levrage
    December 9, 2015 at 12:30 pm

    For a market anticipating FOMC liftoff in 5 trading days, this sure is a curious tape. It just looks like mass confusion, as expected correlations are out the window.

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    • frog
      frog
      December 9, 2015 at 1:04 pm

      Well, the market’s behavior corresponds well to one technical chart pattern– the randomly staggering drunk pattern. Are you familiar with that one? RickyRoma0 over on Twitter has been discussing that pattern.

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      • levrage
        levrage
        December 9, 2015 at 1:36 pm

        Well, I’d say its a mob of drunks, stopping to pee on the sidewalk and passersby from time to time.

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      • k_melancon
        k_melancon
        December 9, 2015 at 2:04 pm

        Squirrel sitting on a clown’s shoulder – definitely a hold pattern unless the squirrel jumps.

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  3. Dr. Fly
    Dr. Fly
    December 9, 2015 at 12:31 pm

    HIKE RATES NOW!!!

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  4. nocturne
    nocturne
    December 9, 2015 at 1:04 pm

    From a 2.2% gain at 10am to a 1.1% gain at 1:00pm. Ironically TBT is still positive for me.

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  5. the dude
    the dude
    December 9, 2015 at 3:02 pm

    I hate blood sucking bats.

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