Watching this market is like watching paint dry on the wall.
Remember when you were a child and the summer seamed to last for like an eternity?
Well that is our stock market; hours have turned into days, days into weeks past that I get sick.
If we erase yesterday’s rally then I feel we have more downside probing to accomplish.
I still remain fairly positive that we have found a short term bottom until market moving news hits the tape in either direction.
I’m guessing here that this is a minor pause or shake out before we get another lift. Upon any lift we need a S&P 1283 close for conviction the bulls are taking charge.
Otherwise, I can not wait till August since this is the month to scoff a Euro freaks and question the idiocy of allowing garbage to pile up everywhere during the height of the tourist season.
I’m thinking a gastronomic tour of Italy. Start north then head south for 3000 km. Perhaps the price of petrol will cause me to see the Badlands or the Grand Canyon…something domestic. Maybe a visit to the fam’ in CA. and then up to Sierra Nevada altitudes. Something must be done to kill off the Doldrums.
For now I’m going to skip and play hookey on a rainy river for some trout.
GLT
by GW
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Yikes, this market is anything but watching paint dry. Its the most volatile, fast moving market I’ve ever seen.
Yesterday, I wake up to big down futes. I’m heavily short, so I’m thinking, kaching. I take the dogs for a run, return just before the bell and futes are now flat. What the hell happened to those sweet down 25 nazz futes? Then I go out yesterday around 1:30pm when the market was down a little. I come back a couple hours later & the market had exploded to the upside. Today I go out for an hour & its exploding to the downside. Crazy shit.
Juice–well said. So many stocks that have just been H-hammered.
The Asshole Dip Buyer is Gone. Everybody waiting for the woosh for the VIX to 40–bull shit — I say fuck all of these little Wall Street bubba misa’s-
GW-
“For now I’m going to skip and play hookey on a rainy river for some trout.”
“After the close I went on small hike for Shrooms.
Holy shit you should change your handle to “Ewell Gibbons”
http://www.youtube.com/watch?v=5ZQAdCDcU0A
BTW- Your posts are must read– nice work.
mrkcbill,
Thanx….Yeah got to love them cat tails..LOL
I guess I picked the wrong afternoon to play hookey.
juice,
Figures up until 1:30 pm nothing is happening. I split out and then bam the action picks up. Just like when I leave the river the fish start jumpin’ saying look at me sucka.
I think we should send you out to go fishing whenever we want the market to move hard and move fast. The whole last hour I kept thinking, GW is missing this! Hope you enjoyed the fishing though.
Saw a gator with the kids this morning.
I mean, I was with the kids, not the gator.
___
boca,
I should leave for a whole month of August vaca’. Then when I get back I could buy everything since the market would be at zero.
Funny thing is when ever I leave this sort of thing happens.
My buddy is even worse than I am.
Peace
jake,
The second scenario is much better!
GW —
You may very well be able to buy all of LEHman Bros with a quarter pound of good black walnuts.
_
jake,
LOL….If that would be the case I think I’ll eat the nuts and use the shells to heat my home. Well maybe get a fire started.
Peace