Germany’s Wake Up Call

We all know about the bond auction today so i’ll skip that. The failure of the auction should have raised a giant red flag with these assholes today. Their unwillingness to come to a resolution has brought the crisis knocking on their door, and it is armed with a hatchet. As fearful as it is, they need to invite the hatchet wielding stranger into their home and make him comfy. If they don’t, he will get up and slash everyone’s throat without a care in the world.

This god forsaken illness still lingers into day 6 of the battle. This fight has had both its high points and its low points. Moments of despair and the begging of mercy (my cold) and me laughing in it’s face, telling it “go fuck yourself, you’re dead”. A formidable opponent this one is indeed, lashing out in it’s last moments of existence, holding on by a thread.

I see this morning my cold isn’t the only thing lashing out today, bears are back in the markets of stocks. Currencies still linger almost motionless and will probably remain that way this entire week. The phat cats like the entire holiday week off rather than the day or two the pee on’s receive. I’m currently doing little more than watching and will likely continue this watching until the new year kicks in. Unlike stocks, currencies tend to come to a grinding halt the last few months of the year.

Stocks, currencies, they’re both one big circle jerk. It’s disgusting.  Major currency pairs are at a relative stand still. Stocks are slapping people across the face with a big, cold, dead, fish. Both bull and bear. 2012 better see some “normalization” otherwise we’re trapped in this fuckin’ pinball machine for who knows how long.

It’s never easy to see oil stomp on somebody, and force the waving of white flags. However, at times we all must wave the white flag, otherwise we’d be faced with becoming and OWS protester. Nobody wants that, unless you’re into sleeping in tents and not showering that is. The next stop for oil as I see it is $112. We hit our supply level and turned down for a total of one whole day before it punched oil bears square in the nuts.

MCK is holding up and we may not fill the gap before moving higher. If so this gap looks like a good place to play a bounce on the way back down. My first target is $96, although we may see $114 longer term.

Not the market today, ME. This is the first time I’ve checked what’s going on all day long. I see i didn’t miss anything spectacular. The turkey gods must be lying in wait, like a hunter, to put a bullet in a bears head. Truth be told I don’t much care at this point. All I care about is shaking this illness as soon as possible. The last little bug I caught was no match for my superior immune system and lasted a mere 6 days before I grew tired of it’s menacing presence and expelled it from my body. This one too, shall perish in flames.

“Romney’s an attractive candidate in many regards, but in the midst of an economic crisis, it’s impossible not to overlook some of the misconceptions he propagates.”

A good article by Cullen Roche. Nice to see that i’m not the only one that threw a fit when the statements equating The US to Greece and Italy were just flat out wrong.

Click Here To Read Cullen’s Article

Red prices are areas of selling interest, green areas are buying interest. These are weekly time frame supply and demand levels.

It was November, not long after WorldCom went belly up, but the stock was still traded publicly. I remember sitting at my desk at work staring at that chart, for hours. I was dead set on trading a bankrupt company and make fucking money doing it. I wasn’t going to do it lightly either like some sissy. At this point I don’t remember the exact number of shares I purchased, but it was in the thousands. What did I pay for them? 10 cents. What did I sell them for? 20-25  cents. Why? Seasonally WorldCom saw a flood of buyers in the month of November. Even while bankrupt, the well didn’t run dry. The Turkey Gods are real and you my find yourself on the receiving end of beaks in your eyeballs, pecking away mercilessly.

In previous posts I’ve discussed the difficulty of FX and a few quality resources resources for education. This is one tool I use, not very often, but it comes in very handy for trying out new ideas and strategies. Any time you want. This is also a good alternative to live demo accounts as you can trade when you like and over a time span of years in just hours if you really put the hammer to the nail. Again, this is my unpaid endorsement. To prove so I’m not going to provide a like that way be deemed suspiciously as an affiliate link. Do yourself a favor and Google “Forex Tester”.