No, no! Not Obamacare! Not yet, at least… not if these “scary mobs” have anything to say about it , at least.
No, I was just talking about my vacation next week, when I will be away from the office and away from this blog for quite a bit. So much so that I have decided to hire on a Vacation Blogger to deal with you all during the week I’m gone.
I’m putting him/her through his/her paces now, so we shall see what we shall see. I have known this person for a long time, and, somewhat like a Jedi Master and his paduan leaner, I believe we have forged a special bond that will result in him carrying on the Jacksonian tradition here with honour (sic).
Oh, and he will also light into any Canuckistanian leftoids with very little prompting. Which is always good.
That all said, we had a wacky day today in the market, did we not? Up, up and “bonk” on the [[SPY]] 38.2% retracement line (well, almost), instead of “away.”
Remember this chart from some weeks back?
Well, let’s look at what it’s grown into — we just hit that second resistance line today!:
Now that’s a ton of money flow moving into this surge, and we still look like we’ve got more room to go. Don’t be surprised, however, if that resistance line forces a breather here. I hope I’m wrong, as I’m egregiously long, but I have to expect this second line will act as a similar “rest” area for our raging bull, just as the first one did.
So we have some work to do and a dollar resurgance to fight next week. Unfortunately, I will not be here to hold your hand for that. I will be here through most of the weekend however, and will try to get you a Jackonian update tomorrow, in between packing and other errands.
In the meantime, gird your loins for a week of…. Vacation Blogger!!
Best to you all.
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I look forward to spilling a glass of Bordeaux on your white dockers.
fly I think you forgot to put no homo…
If it is Petrus, I will take them home and squeeze them out…
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Enjoy the tea party, tea bagger.
And have a fun-filled vacation, Jake.
Remember when we were both getting egregiously long at the end of Feb/beginning of March?
I was sweating bullets back then.
Now, very glad I took the plunge.
Have a great vacay.
Yes, as I recall, you were loading up on your favourite (sic) stock in the mid single digits.
Profitable!
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A bunch of different names, actually. None to the size of 100k BOOM @ 5.2 howevah. Best trade evah!
Sold half in the 12s. Shoulda held longer.
Prudent, though.
That’s what we’re about here… your ugly sister Prudence.
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Dollar Higher = lower Oil = Lower Commodities = lower equities = pullback = SDS, THANKS and Petrus is Over rated, OPUS is the way to go to get the chicks panties off quicker.
I am a big fan of Opus (One), and I’ve never actually tried Petrus so I can’t comment. I don’t know how loaded I’d have to be to spring a couple of grand for a bottle of vino, but I ain’t there yet, I can tell ya.
Don’t be so sure about the dollar refiring here… there’s been a lot of technical damage done in the last few months…
Here’s what my friend, Gary Savage, is saying about it.
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I’m not a wine guy, so I looked it up. $36k for a bottle?!
http://www.winecommune.com/stores/item.cfm/storeID/143/lotID/2989381
Yeah, it’s not all that much, though.
You can get a decent bottle retail (ie, not at the restaurant) for a couple thou.
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Not me, however. No matter how good it is, I’d have guzzler’s remorse.
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That was a 1998 — one of the best years of the centuy, btw. Here’s 2005: Look down the page At the Auction bottles.
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Average wait times in the UK:
Cataract surgery – 8 months
Hip Replacement – 11 months
Knee replacement – 12 months
Slipped disc – 5 months
Hernia repair – 5 months
source?
Look it up, bitch.
lol; too funny.
Ha ha… Sorry for the terse response (not really) but i was on my way out the door…. Glad i could amuse you rather than wasting any more of your precious time.
My ‘source’ was the evil Fox News/Glenn Beck where they listed these average wait times. Now i think these stats are from 2004 records but the BBC reported these figures again recently. I’m sure they’ve GREATLY improved over the past 5 years (not).
This clip is with British MP, Daniel Hannan, bestowing praise on the UK’s national helath care system.
1:43 on the vid
You, Sir, are a champion and a scholar.
According to the official NHS statistics, courtesy of HES (http://www.hesonline.nhs.uk/):
Median wait time for Hernia: 2 months
The others are not broken down as much, but for lower back/lumbar/etc injuries, the median wait time was 1 month.
For “disorders of the lens (inc. cataracts)”, the median was also 2 months.
I couldn’t really find anything too representative of the hip/knee replacements (the categories seemed too broad to correspond too well to your figures).
But, fwiw, “injuries to hip & thigh”, median wait: 6 days
“injuries to knee & lower leg”, median wait: 1 month
Keep on douching.
Beware: I have moderation ability and I AM DRUNK W/ POWER!!
scheisse! i’m still logged in as Jake -DMG
Let’s hope that little bro DM is not the vacation blogger.
I promise it will not be a D-bag Anonymous “one time/one namer” how’s that?
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The Canuckistanians should probably take the week off, however.
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Nice =
– dpz?
– goinfawr?
– some other douche with a little too much estrogen in his system which resulted in his man-boobs and diminished self-esteem.
No, none of the above. I’m just a dude who occasionally taunts dimwits on the internet. Seems I got a twofer this time out. whooah.
A) Bullshit
B) Anyone who refers to themself as “i’m just a dude who…” is ferry, ferry ghey.
Don’t make me knock all your toofers out.
DMG=Cruisin? Anyone this homo-fop-ic…
UPDATE:
Goin’Fawr now =Goin’Fawr’er yet.
GF ‘manboobs’= Muscles of Power.
Sourgrapes=you.
Should’a’ paid homage instead, or Au, or even just ‘attention’: too bad so very sad
Have fun. Be safe.
I love how you do all this chart work — clearly identifying a topping area….
and then ignore it completely, remain “egregiously long” and — like a true amateur — “hope” you are wrong.
Why do you even bother to post a chart like that if you’re just going to ignore your own findings?
Either you don’t believe in your own nonsense or you’re just plain dumb. We shall find out soon. I’m guessing both.
LOL. There’s certainly a a good chance that “I’m just dumb,” but then, you dont’ know what I’ve done in my own portfolio (which is not solely Jacksonian, of course), so I’ll take your attempt at provacative behaviour (sic) in stride, Anonymous Douche.
If you laid your poison pen down for half a minute, you might wish to take a look at what the Jacksonian Portfolio consists of — it is not a short term trading platform and it’s performance is not well correlated with the S&P returns. For instance, I’ve been in gold and silver and their miners since mid -2001. I’m quite certain you are a supertrader, having amassed returns in the thousand percentile range since then, but I’m quite happy with the 400%+ or so I’ve done since then, given the circumstances.
Now should today’s touch confirm a pullback in the coming weeks, we will take the appropriate action. That said, any rube who believes he is looking at the only chart available in some sort of predictive and isolated vaccuum, and who acts upon such alignments without confirmation deserves the biscuit meal he’s brought upon himself.
Now, back under your bridge, I believe there are some juicy goats approaching.
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I made the same conclusion by the way.
I sold a lot of longs — kept some and bought a bunch of SDS/SRS as a hedge with a moderate stop.
That’s what real traders do — they take action — they don’t ‘hope’
With all due respect, what a load of horsecrap, Anonymous Douche.
I’m really sick of rank amatuer wannabe’s taking this “hope” cliche to the outer limits. As if such silly simplification conferred some kind of authority rather than the illustrated a desperate lack of the necessary humility any good trader must display in order to survive.
You’ve taken trades in anticipation of a “hoped for” move in the SPX in concord with a chart position that every tin bucket trader with a 56 baud modem is looking at, including the big boys that have been reaming you out of your bearish positions for the last five months.
Dont’ come here and spout meaningless cliches and pound your chest, little goat, it’s decidedly unimpressive and worse — boring.
If you want to come here under your real name (or at least a permanantly recognizable name), rather than as an ever changing troll, we can discuss the markets and our respective moves with civility.
If you’d rather play the douchebag troll card — and I suspect we’ll never see you again — please go do it on some more receptive arena. Might I suggest a return back to the Daily Kos?
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Hey Jake, That is funny, but you shouldnt get all hot and bothered by the dumb trolls. The smart trolls have 12 heads anyway, and knots on their tails, and this bobolone does not have 1.
By the way , your sub is male, as you forgot to do the him/her on the third ” he ” up there.
Hey , besides that , where is your vacation destination – NC ? Fla ?
Any Biotechs you looking at – upcoming flu OH MY GOD attack for some poppers ……
Have a nice one……
RICH IN NORTH KAKALAKA
Thanks, Rich… We usually do a week in SoCarolina or NoCarolina though because of camps and such, have not done so this year. But this week I’m headed up for the annual “Northeast Summer Trip” not to be confused with the Northeast Thanksgiving Trip or the Northeast Giant Game trip.
Will be visiting relatives in Maine and New York (Mom).
I still have SVA and DVAX as “flu-plays” but both are small positions. I’ve got most of my port in hedged hard money plays — and UPS. Also have a pretty large position in MON, if you want to call that “biotech.”
Be careful with those hissing hand grendades.
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And yeah, I noted the “he” this morning… wrote that piece a little “late” last night… so much for subterfuge. 😉
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Jake,
Go fuck yourself
Thanks eh.
Go trim your mullet, eh?
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Have an enjoyable vacation.
Jake , Sovereign Society Offshore states Australian Dollar has the best chance for appreciation against
the dollar, since the also have a high leverage with commodities – what are your thoughts – are you using any ETF specific for the hard currency plays against the buck ?
~Yeah ~ sizzle and burn or sizzle and pop is the way I like it , why else do we do it unless we get the rush we all need.
Well , I am a Jets fan , so this is the last year we are playing in each others house, and our new coach is , well, I have high hopes! As I have the last …… years……
I recently bought GDX, hasnt done much , becuase of all the hoopla about the flag setup , tired of flags never panning out,
Rich,
Yankee in Red Neck N.C Land
Love NC, btw… are you near the coast?
Jets look promising w. the new QB & coach. Very high recs coming from former players in B’more, which is huge.
Jackson port owns GLD, GDX and TBT as far as ETF’s. I also own SLV and AGQ (double silver). GDX is a good buy and hold, watch the $HUI for reference.
Aussie “j’ loves the Aussie dollar here, fwiw. And he is a currency trader, so…..
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FXC broke 100DMA on the weekly chart btw,
http://stockcharts.com/h-sc/ui?s=FXC&p=W&b=5&g=0&id=p55818857767
Thanks for a great post Jake!
Thanks for the work JG, now go enjoy your break – I’ll pass the word around so that you’ll get a warm welcome here in Portland should you be in the area. Don’t forget to get your fresh fish sandwich at Benny’s by the tracks alongside Commercial St. on the way into town – not a Fore St hanger steak, but well worth the stop.