This just in:
I employ many people. One of these individuals happens to be a “chart chomping” fool. Every day, he prints out like 10,000 charts and draws ridiculous lines on them.
I tell him: “Hey fuckface, why not wear a Nostradamus style hat when your predicting the future over there”?
His reply, like other “technicians,” is: “I am looking for breakouts of the 50, on large volume, out of a base.”
As you know, this is all rubbish. He, like other “technicians,” just make this shit up as they go along. When their charts work, they say: “classic breakout.” When they fail, they say: “this was an unusual exogenous event. An anomaly, if you will.”
They (chart chompers) believe they have found the keys to the secret treasure or some shit. When in reality, all they are doing is buying shit that is going up anyway.
Hey asshole, when a stock is ripping higher, 10 out of 12 days, it’s not rocket science when it goes up a couple more.
Anyway, “my guy” is telling me: “the FXP looks poised to bust the fuck out. And, CHL looks doomed for a 6 handle.”
I tell you this, with the utmost amount of selfishness, because it fits into my “fuck China” thesis.
That’s all. I just wanted to say that. Now quit reading this and go eat a cupcake, you fat bastard.
UPDATE: AlphaDawg speak the truth. Fuck Chairman Mao and his fucking boxes.
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Feel like kicking the dog tonight, huh?
Ducati would respond to this post using the term ‘cognitive dissonance.’
As a chart chomper, just finishing my cup cake, I have to say Fuckah Chinar….
BTW is it not the point to look at a chart to find that next breakout?
last session on FXP was a shooting star japanese candlestick —
christ — it took me about 3 seconds to deduce FXP is going to gap down like a fat whore dropping her bag of M and Ms.
commodity ‘selloff’ has at least 2 more days.
Everything else rallies
Agree with Sir D. Short MON, long SMN & short SSL.
Holly shit I just found a picture of “The Ducati’s” wife:
http://takeareport.com/wp-content/uploads/2008/05/gunt.jpg
This shit was a gold mine find. Expect good things to come of the FXP tomorrow due to this find.
You should kick your chart boy down an elevator shaft next time you get the chance. Or better yet – fire him. How can it be ready to break out of the 50 day when it has not touched the 50 day since late April. Another words, the fucker hasn’t even tested the 50 day since it broke down from it. In reality, FXP doesn’t have enough data points to be reliable. You are better off tossing the chicken bones with dice if you don’t have a fundamental reason to go long FXP. Did he really say it was breaking out? If he did, are you really following his advice. I once hired a guy who said he was a grad of Cornell, but this fucker could not write worth shit in a business that demands writing skills. So, I called the University to confirm that he in fact attended and graduated from that fine institution. No dice. They never heard of the SOB. Call Fly. Check it out. This guy is blowing smoke up your ass. Maybe that is what you like. In which case, that’s fine. Just let us know that your latest purchase was made based on his advice. Just fuckin with ya – I get writing and can’t stop some times. The “W” formation is fairly obvious – not sure how that translates into a “breakout”. Can he post to explain his shit, or is that asking way too much? I know, I know “Hey fucktard, what do ya want for free.”
Ha.
Alvari, you truly do waste your time with a thoughtful retort.
Listen up, “The Fly” bounces to his own jungle drums. I listen to no man and heed no advice.
Regarding the chart chomper, he did not say the 50 day of FXP. It was more of a general observation of what he does.
Regarding FXP, look to FXI for more info on the underlying stocks.
FXP to $100 by 7/4/08
Bring back the mother fucking futures box.
John:
Click on the “Market Summary” box, where the futures used to be.
we moved it to its own page, since Vincenzo the IT guy is unable to prevent it from crashing the whole site.
I’ll stop here because I see a reverse H&S forming on the FXI weekly, which (if it plays out) would be opposite what you say is going to happen. I am seeing way too many patterns tonight – must be the shrooms.
you apparently know nothing of Dan Zanger. Read about him – chartpattern.com or danzanger.com I guess
Dan Zanger is a liar.
He lives on top of a Brooklyn Pizzeria. I know this because I eat there. The guy who serves me Rainbow ices is Dan Zanger.
True story.
Fly,
not the only one that thinks Alvari40 might be right
http://maoxian.com/archive/freebie-long-idea-in-china-etf-fxi/
Only time I’ve seen Fly use a chart was RMB currency. Amazing article on money inflows
http://piaohaoreport.sampasite.com/china-financial-markets/blog/What-74-5-billion-Is-this-a-mist.htm
Adam:
Fuck Chairman Mao and his boxes. He shills for his country, surely.
Unfortunately, China is to be dealt a serious blow, followed by a full scale land invasion—led by the iBC bloggers.
See above for more proof, in update.
“go eat a cupcake, you fat bastard.”
Good stuff, LMFAO!
just trying to talk my book.I got kicked down a manhole by FXP.
It’s fuckin scary if “china’s reserves grew in the month of April by $74.5 billion, the biggest one-month reserve jump in China’s history (and probably in the history of the world).”
Any pegged currency right now looks like the safest(fucktarded) financial bet in town
In all its short (and utterly useless) life FXP has been nothing less than a Tasmanian whirling dervish flying through the smog filled skies of the finer Asian shitholes. Trying to short China through some f@cked up ETF is almost as stupid as those thinly traded small caps you tout. Pull your head out Fly.
Fly, you made that up about your chart chomping technician under your employ. The long FXP trade is over, for now, besides a small retrace higher.
Its time to go short FXP again. The HSI & SSEC are ready to turn back up, taking FXP back down, again.
This time I foresee both the HSI & SSEC taking out the highs of just under one month ago, sometime before the Olympics begin, say mid July. This may also underpin US indices combining with a fucktarded drop in crude to perhaps $100ish.
Needless to say, all this will set up a bear trade that will make the January downtrade, seem like afternoon tea & crumpets.
In the mean time, FXP has eyes for 50-55.
Don’t give your money back via stubbornness.
Ever been to a cow barn? There are flies all over the phucking place. At the end of milking, you shut all the doors to the barn and spray the barn until all the phucking flies choke to death.
As I was pulling cow tits this morning to get you city phucks the milk you need, it occurred to me … I need to spray this fly phucker. He’s short China and long Energy. I’m going long China and shorting Energy. Energy always tops Memorial Day Weekend. Why should it be so different now? And those China phuckers are going to steal pigs and buy stocks all the way up to the Olympics.
Alias: BPOE
Charts seem to work in China because most China traders use charts. Mostly candle sticks. I use charts in small cap stocks because most of the herd uses charts. It is not that charts work. It is because 16% of traders think they work. Almost 38% of a stocks price in China is herd charters. So to me it is worth learning how to read charts ETC. Just keep the % of the herd in mind.
For a brief shining moment, AMR is a stark raving buy. Probably for about as long as an oil pullback. Or a couple decades, if you’re the patient type.
“When in reality, all they are doing is buying shit that is going up anyway.”
^^^
Bwaaaahahahahahahaha!
“The Fly” will have you know that LEI (micro cap oil) was up 14% yesterday. What is happening with oil? It is falling precipitously rather than a normal pullback? If it was a bubble, it was a small one.
Keep an eye one BTU and ACI. Both are buys at the 50 day.
AUY is met with some buying near the fifty also.
VLO is in play! buy now!
KEY blows, the fuck, up. More charge offs. Shocker. Taking down other regionals.
I am back short FXP. Hoping she goes higher. I’d like to get a larger position on.
Anyone have an opinion on CME? Its getting much much cheaper down here. Also what about a short on NCC?
NCC is heavily shorted. Likely a short squeeze before she heads to zero.
Wow who would have thought REAL TIME quotes on Yahoo! Finally someone decided to listen.
Jesuit backed BAC goin’ down boys.
Who here at iBC doubts gold to 1500?
I doubt gold to 1500. I think it trades in the high 800’s to mid 900’s the rest of the year.
CLHB breakout…see you on the other side boys.
FTK rebounding nicely.
I can’t find my cupcakes…distressed.
I had a dream about this site last night (a regular dream, not some divinely inspired YHOO dream).
In my dream I visit a friend in a suburb of Washington DC. He’s a lobbyist. His office was grey and dank. Long narrow halls. High ceilings. Exposed fluorescent lights hanging high above casting an other-worldy pulsing blue wash of light.
He greeted me in a brown suit, which I thought was strange because he is not a brown suit kind of guy. He offered to show me his latest experiment – a stock website – used by his clients to influence investing patterns. “A grand experiment,” he said.
In the darkest, nastiest, most removed corner of the building was three or four offices. Stacked with papers, white boards, pizza boxes, mismatched funiure…looked like college dorm rooms.
“We have programmers and couple of finance guys…all from Georgetown…grad students…this is their doctoral thesis. We are funding them to do this for one of our clients, and the school has allowed them to use this experiment for their thesis paper. Something on th influence of pop culture on investing. They are studying the effects of community, celebrity, and language.”
I walk up to one of the geeks (whom I believe to be Danny) and say hello. He shakes my hand and introduces himself as Ravi or something. I say…”uh…I’m BOOMER.” He drops back into his chair and says…
To be continued.
“I can’t find my cupcakes…distressed.”
That cracked me up.
Good story Boomer.
I walk up to one of the geeks (whom I believe to be Danny) and say hello. He shakes my hand and introduces himself as Ravi or something. I say…â€uh…I’m BOOMER.†He drops back into his chair and says…
“Oh, hey…. HUGE Jets fan, man… really, it’s an honor.”
_
If yah not long FXP, yah rittahded. Yah don’t need a PhD from Hahvid in chahtin’ tah know that.
Not knowing what color socks the brown suit guy is wearing makes the whole story rather pointless.
leh couldn’t trade higher if its life depended on it… it can’t even trade up to its fib line