I invite you to appreciate your insignificance to me, as you type words onto your computer screen. While it may seem to be important to you (your words), the universal reality is you are nothing more than a series of digits archived at your local census bureau.
Most people in my profession scoff at the idea of enlightening the proletariat about things to do with proper money management. The closest most of you get to cogent ideas are via Fast Money reruns or old clips of Paul Tudor Jones, circa 1980’s. Viz.
The blogosphere is populated with oversized babies who lash out for attention, while attempting to minimize the efforts of others. “The Fly” does not care to rip the spines out of his fellow bloggers, for they are not competition. Their prolific blogging efforts only enhance the traffic statistics of ibankcoin. Quite frankly, once people read them, compared to me, my website’s value doubles every 6 months.
In closing, next week will mark a massive movement in the Dow Jones Industrial average. I hope many of you are prepared for the action and reserve your little comments to yourselves, as I am unwilling to play “good host” any longer.
If you enjoy the content at iBankCoin, please follow us on Twitter
Not to worry sez I, placing next week’s fortunes in the hands of PPT, The Fly, the Owl of Minerva and my own extraordinary sense of impending peril for the faint of heart.
PPT scores is at 3.12 due to the law of PPT we should reverse or not?
lol. wtf? Who hurt your feelings this time?
Fly added an additional criteria for the PPT for sell offs. Must help with the few false signals that have occurred.
The Fly Says:
Official OB is 3.10 and 75% of large cap rated buy. If that happens on a closing basis, I will position for weakness.
It would be interesting to track how many PPT subscribers you’d attract if you REDUCED your buys and sells here. What people don’t realize are the other features of the PPT that make it worth the price of admission plus the feedback ypu get. However, I am still unable to locate the oversold/overbought chart you often show here – all I see are the scores posted.
because there is no such chart inside the ppt, just the historic scores.
Plus lots of other goodies.
if no demonstartion of excellence is made public, tho, the public has no motive to subscribe.
I wonder what the subscription stats would be like w/a mod of the presentation from highly entertaining and over the top to something else. Most people I rec ibc to scoff at the antics. Flip side of that is that the highly entertaining presentation is, well, highly entertaining and no doubt draws a crowd.
I also wonder if ibc would be easier marketed with just one product. I would guess the preponderance of companies that go from 0-big do it on a highly focused product offering.
Just thoughts
“The Fly” is a beacon of truth and integrity in a world of dishonour. If your friends scoff at my “antics,” it is because they are of low grade DNA and are not made from the cloth of gentlemen.
The thhoughts above may or may not be worth what I charged for them, but they may. Reiss and trout are worth a read on biz marketing.
And, alas, I have all but no friends, 2 exactly, who are into the markets. Unless you count people from the internets as friends
Trout is a big, big BS. Don’t waste your money nor time.
Those 2 were helpful to me in my biz life
Taking market share and profits from legacy corporations that are burdened with retiree pension and health care inefficiencies, as well as with retiree shareholders and retiree bondholders, will be one of the most profitable business strategies of the coming decades. For the destruction of the inefficient is the very basis of capitalism. What happens when the cannibalistic American Corporations have nothing left to eat?
Since these legacy corps that you speak of are already owned by the government, the cannibals will feast on an ever-dwindling tax base.
Bon appetit.
And what happened to my avatar???
damnitall, these corps are still capable of sustaining their profitable existence DESPITE all these inefficiencies you’ve mentioned. Just imagine what competitive potential is hidden there.
That potential is being greatly hindered by the Congressional-Behemoth Corp axis.
Another thing we need to look into is who — or what — was backing the new — recess appointed without even a SCHEDULED hearing — Medicare/Medicaid Chief Don Berwick’s old “non-profit” healthcare advocacy group to the tune of $50 million a year?
Apparently, Obama made the unprecedented snap-decision to “recess appoint” without even a hearing when that one question came out of Charles Grassley’s group in the preliminary question submission period.
Odd, no?
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Actually, the chart is on the ppt blog right now
Devil Dog, may he remain silent, would probably connect the gulf spill, austerity, N. Korea, Iran, and the DOW decline in January and the first half of 2010 as bearish oracles for the close of 2010.
But, like any other dog, his basic instincts are ruled by his senses. Skin and bone he scampers from dumpster to dumpster, unable to disconnect from the matrix long enough to see the machinations that forge his reality. The trail of scraps before him and the frightening sounds from behind are from the same source.
It is the call of the new Master.
Fly, you should have watched Dateline tonight. The guy said there is something wrong with our civilization today. Rather than people giving their excess to others in need we now self promote our own money and power in a very self centered way.
I didn’t agree with him either
It’s amazing! None of you mother fuckers even has a clue, do you? When you’re done destroying everyone else the only thing left to destroy is you. Then what? You will finally realize that eating your own shit doesn’t taste that good, does it?
That was insightful, but what do you suggest we do?
deleted comment
Must have been a good one then.
What did top management do before Enron came crashing down? What did Martha Stewart do when she got a tip that a stock she owned was about to go to hell? What would you do if I told you your house was on fire? The United States of America is putting bandaids on gaping fucking wounds. And most (but not all) of us are back to business as usual while those in the know are getting the fucking hell out of this country before it goes to hell. I suggest you do the same. There was a time when people were “in tune” with this planet and acted accordingly. That time has long passed.
Stop speaking fairy tales.
We are a failed humanity, and we always have been. There is no peace on this earth.
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The USA has suffered some setbacks in civil liberties and individuality. Perhaps it’s the whole dark aged mentality that stems from being a war torn nation. Fifty years of peace would do this country good, but there would be a lot of unhappy interests, both domestically and abroad, who would do everything within their power to end that peace in order to keep the U.S. from gaining a solid sovereign independence.
Unfortunate as this state of affairs may be, my ancestors settled New York before it was called New York and before the revolutionary war. The way I see it, we’ve always been at war from inception.
Jake is right, there is no place to hide. We will work through this.
Ha ha! Finally you have come to your sense’s…These jerk-offs don’t deserve you and your knowledge. Jos. A-Bank slacks for every member of the PPT.
I’m already a member of Woodshedder’s powerdip system premium service. Someone sell/tell me why I should also join PPT and what I’m gonna get from it… from the preview page, I cannot seem to grasp what informations is available and how to use it to fine tune my trading system. Fire away!
No disrespect to Woody, but the PDS is a mere conjurer’s wand compared to the Gandalfian staff of the PPT.
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What a dick.
That angry fistula acting up again, today, Perdoo?
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Forrest,
I’m a member of both. Wood’s system provides more clarity as to actionable trades as it’s all spelled out for you.
As such, I really like it!!.
The PPT,while I like it , is harder to understand, however, it presents you with a lot of data and choices for the use of said data. Plus, you can see what other very highly skilled traders are doing in real time.
Also, the data base for some of the actionable trades are currently being populated at a very rapid rate.
I would buy both as I have!!!
futures are up right now…euro is up right now also
Forrest
Think time machine
Aaaaaaaaaaaaaaaaaaaaarrrrrghhhhh!!!
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and think Objective Elliot Wave not EW ….
SHORT TERM
“Support for the SPX remains at 1090 and then 1058, with resistance at 1107 and then 1136. Short term momentum ended the week slightly overbought. As noted earlier we labeled the SPX 1011 low as the potential end of this correction. Then we labeled SPX 1099 as Int. wave one, SPX 1057 as Int. wave two, and Int. wave three should be underway now. The OEW short term charts are positive and are displaying a small wave 1 (SPX 1089) and wave 2 (SPX 1065) off the SPX 1057 low, with wave 3 underway now. We also noted earlier that the double WROC buy signal is a rare event. This suggests an uptrend is unfolding and the likely price target is between the OEW 1187 pivot and the OEW 1291 pivot. If this potential uptrend remains impulsive the upper pivot should be reached around October. If not, the lower pivot comes into play.
For now, this market still has to clear the OEW 1107 pivot before we have any chance of getting an uptrend confirmation. Important support remains at the, four times tested, 1058 pivot and key support at the 1041 pivot. This week the SPX sector XLI (industrials) confirmed an uptrend. This would suggest the DOW may be the first to confirm of the four major indices.”
Buy the Dips!
“we count five waves up from the Mar 09 low to complete a bullish Primary wave I, and the recent Primary wave II correction is more complex and steeper than the two previous corrections, Major waves 2 and 4. After nearly thirty years of Elliott Wave analysis, and having examined every wave during the past now 125 years of historical data, the highest probability for this type of market activity is a classic Elliott Wave bull market. A much, much lower probability would be assigned to a bear market rally. Yet, most EW’ers are bearish!”
Oh shit! Black pod disease is surfacing in southwest Côte d’Ivoire as a result of rain and humid conditions. “Bob’s your Uncle.”
They account for 36% of the world’s cocoa … there goes the price of chocolate.
new post – challenging consensus again. http://www.ibankcoin.com/peanut_gallery/index.php/2010/07/26/consensus-alert/
What to do what to do.
dont know about you but im tired of running around on the same mental circuits day after day ,,so im just saying fuck it.. i have what i have …its the same stupid shit all the time.. i remain stout no matter what …not selling..probably wont be buying today either ..im here till at least noon
That Tudor Jones documentary is fantastic, despite it’s date.
It may not be the ripest picking ground for ideas, but there is much to be learned from the man himself. Are you trading currency futures at 5am Sunday after a brisk 10 mile row in your private lake?
Yes – In fact I have traded futures at 5am. On a recent occasion, I refrained from sleep altogether, and traded through the wee hours on the ES-Mini and did not stop until close of market next day.
My conclusion is absolute, and without a hedge I can state — it accomplishes jack shit.
Conclusion – waking up early to trade (or not sleeping at all) will not make up for any amount of stupidity – no matter how small you think that your particular amount may be.
Written – so mote it be.
Oh – and fuck the lake part.
5pm?
You, sir, have a drinking problem.
I salute you.
Fig or fag
One thing I like to watch in helping me to decide market direction on a Monday is how the stocks that are mentioned in Barron’s react.
For example AAPL,MSFT got a bullish thumbs up and yet they are dead in the water early.
Can’t be good.
It also works the other way although I believe over the years Barron’s has lost some importance.
In and out of SSG (inverse 2X chips)- Done for awhile.
SLW and PAAS are flat as well.
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Yes, I noticed that also.
Although I also see that the smaller cap golds are acting better thatn the larger cap golds.
GDXJ etf (flat) v. GDX etf (down almost 1%).
Chips (and AAPL) sucking wind-NASDAQ should reverse soon.
In Futures—Next volume composite profile support levels are 1090 in the ES, 10300 in the YM, 635 in the TF, and around 1845 in the NQ
Im guessing we test all of those at some point today.
http://chart.ly/kvesyh
I try to diversify my blog reading, to no avail. You are a wordsmith, a gentleman, and a scholar.
Seen in Purdy’s neighbors’ driveways.
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ROFL
Jake, the market wisdom that you share on this site is much appreciated (by me and many others). Your political views are already well known so may I please request more of the former and less of the latter?
My political analysis informs my market analysis, as it should yours.
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Too bad about that eight year political analysis blind spot that your suffered before the Dem label was attached to the folks who run the country.
No, it was there as well, Perdufus.
I’ve been in gold since mid 2000, remember? That was before even Bush got into power, and before the GOP Congress morphed into porcine-o-crats.
But gaze upon Obamacare and this recent 2300 page “financial reform” monstrosity that does jack-squatola with the two largest initiators of the mortgage bubble — Fannie and Freddie — and tell me how it doesn’t matter who’s running Congress or the White House.
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Very nice …but, you know I didn’t vote for Obama.
FLY,
my stock market gains in this lifetime will far exceed yours…
I’m confident of this, however insignificant it may be.
Curiosity was eaten by my pet owl so must ask, who exactly gives a rat’s ass about this undocumented assertion?
hey ruggy,
kindly fuck off.
You all suck compared to our sec of State – her very first trade made her about 1000% on a tiny investment …for a quick $100K ….back when a $100K was $100K.
my first trade was a winner as well… it wasn’t necessarily a good thing – it made me think I knew shit.
Y
Long a small DXD allocation at 26.54 .
XLY IBB IYR JJC–So many sectors look absurd, trying to go up at 90 degree angles.
King dollar could bounce to 82.73 before hitting any Volume profile resistance. The 30 year bond has no resistance until 128. That should be good for TLT
Volume profile charts—
http://chart.ly/kvesyh
So is the fly all in or planning on destruction today?
Nice calls on TSO and BAC.
well i fucked up today.
thought the housing numbers would be bad. shoulda made my moves at the open (which was to go long and remove hedges)
getting ape raped on these hedges. need to decide when to take my medicine….hate HATE HATE to do it with current PPT readings and econ numbers coming out this week.
fuck
I think i will just wait until we have at Least one down day this week.