I – 9th letter of the alphabet
B – 2nd letter of the alphabet
C – 3rd letter of the alphabet
We have the answers moving forward.
This carries over into tomorrow. I’m going to buy some Russell here for a quick catch-up move.
There will be a short from above this week I want in on as well.
PS – All love, Bluestar
Hat tip @swingingforthefences for the 923 reference
OA
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hahahaha. Love it.
OA – you think options are still too expensive to play here?
Which ones are you thinking? Just look them up.
IWM
Ha, that’s crazy.
Totally! YOU CANT MAKE THIS SHIT UP.
Oh wow, hilarious! Wish I noticed that.
Out $SPXL about 10 mins ago 71.55 for +4.17 not bad for 2 hours
We are at the upper end of the range. thinking we have one more dip thats higher than todays lows and continued compression before starting the wall of worry process.
Got out of my AAPL $110 calls at just over a double…..don’t want to be greedy here.
Well done. i am holding my TNA, as I think probably the pain trade is up again which scares some shorts and may give it a little momentum. But I am still looking forward to turning this into TZA soon. No illusions of going into orbit from here.
I am probably leaving money on the table, but I was comfortable with the targets I had set and went with what I had planned. Sold at 1.25 – high for day was 1.5….we will see if this gaps up again tomorrow – if ti hits 112.5 and stalls, may get some puts – volatility and time on these should be tremendously down if that is the case
Being in options instead of shares changes the strategy for sure. If I was in an option that doubled and got a chance to close near the day’s high I would have booked too. No reason to be a hero with that kind of leverage in this environment.
OA – staying short /GC?
Yes
Just need to get through the chunk of volume from 1119 to 1114 and then 1090 is in the cards.
OA, hell of a call on the rally into the close today — I hope you’re also correct about tomorrow’s continuation
OA – bravo zulu
pretty much right on all counts today. 30 mins late on the start of the rally tho ;p
They key here is now timing the shift from discouragement to wall of worry. I think we need one more dip and a little bit more compression of prices/volatility before we start the wall of worry. Just my humble opinion.
When you visit Bluestar at Bellevue tell them to up his meds
dude did you not read my post. i think this 923 nonsense is a scam. reading comprehension?
It sounds crazy, but the number 23 does come up quite often if you look hard enough. That movie was real life! Sort of kidding 🙂
09/29/2008-10/10/2008 we went from SPX 1213.27 down to 839.8 intraday. A decline of a mere 373.47 points or 30.78%. This included 8 straight red days from 10/01/2008 to 10/10/2008
On 10/11/2008 we rallied 11.5% on the day up to 1003.35 (this was 163.55 points or 19.47% off the swing lows) for a retracement of 43.79%.
2 days later we were down to 907.84 on a closing basis, or 9.51% off of the close on 10/11/2008. We retraced the entire candle from that day.
Today after 6 straight down days we rallied 3.9% on the day, or 72.9 points. The decline from high to low was from 2103.47 down to 1867.08 for a decline of 11.24% or 236.39 points. So thus far we’ve retraced only 30.84% of the decline. To get a similar 45% retracement as in 2008 we need to rally another 30 points or so. That puts us right at SPX 1970.
Tomorrow, we may see a slight gap up, or we may see a slight gap down. Not sure it will be a huge gap either way.
My roadmap for tomorrow is an opening drive down of 0.75-1%, or around 15 to 20 S&P points and then a lunchtime rally only to see a late day fade to close very slightly down or unch on the day. In other words a shooting star candle.
Hypo 2 would be to see an opening drive higher towards our 1970 target. Then a reversal sometime after Europe close to give it all back and go red on the day. Then a rally back to into close to again make a shooting star.
Friday the streets run red with the blood of eager bulls. You will see a Dow down 600 type day, giving back all of today’s gains and striking fear in both bull and bear.
Monday? Who the fuck knows.
Anyone have any thoughts on what the rest of the week brings?
BTW, I think I’m finally on the same page as you are with this analysis OA. Let’s drink bull blood from our goblets into the weekend. When I get my signal my first trade will be to put $923 to work in some puts.
I personally hope for the opening drive down tomorrow or a gap down to book some $SPY put gains that I bought in AH today.
The young bulls want to run down and screw a cow. We will walk down and screw them all…
Guys,
You do realize I think this 923 stuff is a scam? I don’t for one second believe that the rapture will occur but I definately think that CNN is in on this bullshit.
Did you know John McCain created ISIS, or at least helped? I know shit like that sounds crazy, but then someone hacks his laptop and finds secret ISIS “stage managed” execution videos in his possession.
So some of that shit is off the wall crazy, but there’s a little truth in everything.
I know that it was alleged by some Ukraine hacker that footage recording of the recordings of the ISIS beheadings in a full studio was found on McCain’s laptop….
I wouldn’t go jumping to conclusions based off of speculation from what it means, but certainly poses a lot of questions.
Hattery, I believe their are a lot of bad people calling the shots for not only us, but the entire world. Whether the CIA created ISIS or whatever, I can’t dismiss it immediately because I know these people are scumbags in every sense of the word.
Regardless of whether stocks go up or down, I think these same people have fucked us for a generation economically. It’s not one person. It’s not Obama or Bush. It’s all of them. One day Congressional approval ratings will literally hit 0%.
I got sidetracked there a bit, as I’m prone to do.
I read your comments dismissing it immediately.
I read it that you think it is a scam in the sense that the end of days isn’t coming.
But on the other hand the scam has been co-opted by some elements of the government in a conspiracy that involves CNN to promote the idea and psychologically manipulate the population. It’s the latter part that you seem to take more seriously than I ever would.
You only seem to disavow about 20% of the craziness. Maybe my sensitivity to sarcasm isn’t what it should be.
The best part about this is all the hoola on stocktwits about broken trend and what not is that at the end of this, drop is going to be nothing but a long tail in the context of weekly and monthly charts.
Whole thing was designed to shake out the retail investor, catch shorts betting on crash, to rip it back into the range and to all time highs. Firmly believe this was all by design to fuel the next leg. Similar to what the RUT did last year but on a broader scale.
Eyewitness account of survivors of Flight 923 emerge on the Wild Atlantic Way
illuminati confirmed
Just to let everyone know my GDX and GDXJ trades failed as the cycle failed. Damn!
Dude, I tried. That was a rough, rough entry.
Thanks Jeff! Cycles seem to work when you’re going with the trend. Maybe a new rule for me.
Still really tough when you buy so late into the first move after the first rejection of resistance.
yesterday wasn’t the day to sell. Looks like its turnaround time for the miners with Gold down but miners popping BIG
Easier to manage when you buy at support for sure.
You really put 20% into it? Damn man where did u get that bad cycle shit from?
It hasn’t work since 2011. But when the pms are in bull mode watch out. Right now the cycle guy are anticipating a new bull!
Smart money does not chase the market…but don’t worry, we have a couple more weeks of chop for some excellent set-ups for the kill…
#923125
I meant #92315 – oops typo.
Although I need to think about what that extra two might portend. I don’t believe in coincidences.
http://jeffmacke1.tumblr.com/post/127634321378/a-brief-history-of-manipulation
Macke posted this at 9:22 am…
Oh man, if he only had gotten distracted for a few more seconds he would have posted it 9:23 and everyone would be flying off the handles.
Bought EXXI shares on the close…Crude sure looks like it wants to trade higher tonight.
Oil has bottomed. Time to buy UWTI
buying some in your IRA sethster?
I bought JNUG at 7.09
I agree. Holding DWTI short with a $150 target.
The only commodity that matters — weed. Long 57K shares of MDBX. A call option with no expiry.
went in this morning loaded for bear
All Puts
AMZN 510 – target 495/485
NFLX 108 – 107/104
AAPL 110 – 108/105
I grabbed TNA this morning on the dip. My conviction level is pretty low but worth a shot. What are you guys targeting for upside? I was thinking RUT could get to 1150-55 before pausing.
I had the same target
JNUG
You gonna stay long JNUG?
yes sir!
The futures move around 2:00-3:00 am EST were very interesting. Was wondering if it corresponded with any markets opening.
I’m a Clinical Psychologist, BlueStar suffers from a very common attribution error referred to in social psych as The Fundamental Error. There are 3 types of attribution errors. Interpersonal, Predictive and Explanatory. We all make these types of error on a daily basis, however, some people perseverate as a means of defending against their fears of mortality. Uncertainty is the hallmark cause of stress, anxiety, decision making processes. The market is filled with uncertainty, it draws us in and at times leads us to implosion. For traders, uncertainty in the market is like a moth to a flame. If you count, I am pretty sure this post has 923 charaters (including spaces) LOL. Good day.
How do you know he suffers from it?
Maybe he enjoys it.
He doesn’t suffer from it … He thinks it’s BS and has said so repeatedly
Bot NFLX next week’s 100 puts
Options are super expensive but I love selling this move on NFLX possible here or a little higher.
Ended up selling TNA when RUT hit 1150. Probably leaving some on the table but was a decent trade.
Holy crap jnug!
Do the opposite! Rather than laughing at the 9/23 conspiracy theory, obsess over it.
Rather than getting far away from CERN, camp out as close to it as possible and ask for a tour on 9/23!
Trying to determine how to handle the RUT continuing to lag… does that mean that there is still room to catch up, or do i close out this afternoon as planned and move on?
Well, I blew the opening today, hope you guys are benefiting from the massive move at least…still holding my puts as the 20 day moving averages are still presenting resistence…..if they give, then I am toast.
Bot AAPL next week 105 puts
Hi jeff,
IBB .. will it pause .. buy puts ? any ideas?
You want puts on IBB?
I ended up buying back into TNA around $68.7. I was clearly wrong selling it…for now.