The religious zealots of the House of Technical Analysis (HoTA) hates it when I go “full metal jacket” on their religion. I get it. The truth of the matter is, you stupid bastards aren’t even reading charts. Most of you are using your 6th sense to anticipate future stock movements. Tell me guys like CA, Fool, RC, Jakegint and Bleier use charts— just charts— to pick all of their winners and I will kill you where you stand.
I won’t recycle the classic cliches that explain tape reading. Instead, I will tell you, and I know this for a fact, you fuckers are winging it, similar to slapping angry pitbulls in the face with peanut butter. Eventually, using TA, your fucking arms will get bit off.
Pardon my digression. I did not mean to turn this post into a “fuck TA” rant; but it just sort of happened. Seriously, I respect all investment methods, some more than others. Like they say, “all men are created equal, some more equal than others.”
Into this tepid sell-off, I am flipping through teevee shows, while avoiding personal contact with business associates.
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Loved the pit bull point! Still rolling on the floor laughing!!!
Lets all learn from sesame place
LOL – kill me where I stand because CA(although not the others) uses exclusively charts to make money. He’s just very good at it.
FUCKING LIES!!!
Bang, bang, you’re dead.
CA “thinks” he uses charts, when in fact he is psychic.
Fly,
What’s your cash or cash equivalent position currently?
10% VXX, 15% TLT, 30% equities, 45% cash.
10% in VXX? Holy shit
Fly,
what are your thoughts on the fact that VXX is a “Note” backed by the issuer as a opposed to a vanilla ETF? do you think there is any counter party risk to said note?
Buying the absolute “Donkey Shit” out of ZSL today.
What makes you think Silver is headed lower? Overall market dropping?
2 things….right now……..I’m under the impression the ECB will begin selling large quantities of its gold reserves to help endure the “Mt Everest-esqe” mourntain of debt they’ve buried themselves under. Not to mention the fact that Gold has no business being above $1100 (for the time being anyhow) with the rally we’ve seen in the US Greenback. That being said they’re are still a lot of ?’s pertaining to the US dollar. If SP’s challenge the sub 1100 mark again, Gold and Silver will plummet $50 to $100 and $3 to $5 respectively.
I’m under the impression the ECB will begin selling large quantities of its gold reserves to help endure the “Mt Everest-esqe” mourntain of debt they’ve buried themselves under.
That would be akin to a capitulation signal to the rest of the world. Lying throwing water on a grease fire, w. similar results.
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What’s the point of bashing another system?
Most people trade based on charts – they usually use volume, trade flow in conjunction.
The Fly uses charts just as well, only he mostly does swing trading and doesn’t have a formal set of rules. I don’t understand why you harp on a system you use yourself.
Often I feel a large percentage of it’s success is based on the fact so many use charts even though there are very good reasons they work otherwise.
But I am not bashing charts. This post is supposed to make amends with the chart people.
I did a bad job, huh? Damn it!
I will try again at a later time.
It’s like a Tourette’s thing sometimes. Believe me, I understand.
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Charts are the first derivative of order flow. If you don’t understand market structure and orderflow, the squiggly lines mean very little.
(laughter) look at GKK; I’ve been getting slaughtered all morning.
Aside from losing a little more than a dollar a share, there was this fun note at the bottom of the earnings conference where the executives mentioned that up to 2/3 of their CDO exposure is teetering on the brink of despair and could drag the entire operation to the grave.
God this stock is addictive, good fun…
Isn’t it fun how they go down much faster than they go up?
I don’t know, I’ve seen this one rally over 70% in a day. People will be back in a couple of weeks…then run screaming out again. It’s liquid cocaine for the masses.
Me, this is a little hail mary pass I’ve been setting up for two years. The CDO business scares me though; I wonder if I shouldn’t look at what they’re insuring?
Probably fucking Greek municipality debt…
A classic fight between those who blow through charts like a pile of leaves.
http://www.youtube.com/watch?v=mjS68mtP4ko
Santelli is GOD!
Senior Fly,
Do you think these rallies we have seen lately are indicative of Obama using the powers that be to make us all with 401k type accounts feel Fat, Dumb and Happy so he can ramrod this health care bill through without us complaining about the costs?
If this was truly the situation a decision either way would cause the next market collapse as they would have no reason to hold the market up any longer.
Just brain_fucking myself…
fly, i think oil says 90 before 70
because of a chart…
What’s Technical Analysis?
All you need to know is to be deathly afraid of the cock and balls pattern. We’re talking Quad Damage, Five Point Palm Heart Exploding technique level of OMFG. It’ll blast a crater in your racial memory so deep that you won’t come within a thousand klicks of a McClellan Oscillator ever again.
shoo
Does Fly even know how VXX works? It does not track the VIX if that is what he is hoping for. Do some homework
I was trading VIX options when you were mopping floors for your wife’s parents. STFU
Good comeback Potsie. Maybe I’ll buy some TLT and watch it tank as the dollar moves up…. dumb ass
What is today? International Day of the Troll?
Whole bunch of the mofos out from under they bridges today.
Did someone bring goat?
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…and thats how you do it.
Where are all these haters coming from?
Well this market does have Barry Bonds head, Jose Conseco’s chest and knocking bombs like Mark Mcguire,what am I suppose to think?
Explain to me how the PPT ratings aren’t technical analysis. Even if its an algorithm of the fly’s brain (yuk, yuk) it would still be technical analysis.
You really are stupid. If you cannot tell the difference between analytic engine, using complex algorithms to identify predictable ranges, then you are wasting my time. Go ban yourself.
Most people decide where the market is going, then find a chart to support that thesis changing what ever method they usually use to one that fits what they want.
“Confirmation bias,” tis true.
Let he who is without sin… etc, etc.
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Some people (myself included) just have to learn the hard way = losing money many times before you actually make a good trade.
yo srsly guy
fly
usdcad needs print under a buck, does it not?