Lots of stuff to look at here. First off, most of the upside ETF’s are OVERSOLD here. However, there is a certain waiting period involved for these trades to work out. It’s interesting to see oil, gold and the Euro ripping tits; but what about the Yen? WHY IS THE YEN RIPPING TITS?
Without a doubt, that is a big negative, in bold letters.
Treasuries are selling off and natty is up. Essentially, MOST of the ingredients for a rally are present, with a notable exception in retailers. Across the board, retailers are weak. I am not sure if it matters. People may ignore them and just go long, for fear of “missing out.”
All I know is this: we are supposed to trade lower. If I lose on my TZA and VXX positions, it was worth the risk. With my mammoth cash position, despite being tempted to go long, I am sitting on my hands in “do nothing” mode.
My largest long position is GLW.
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FIG….Its a tug o war….we need more COWBELL, wow thats the 3rd time…I’m done trying for the first post….
WTF gives!
The fucking bots just want higher prices!
Not sure about that. IMO they only want commissions from bulls and bears desperately chasing each other.
The Chart People are saying this fucker could end in the green.
what are the “car people” saying?
ha
Vandals.
Break out the black goat for some occult mathematical assistance
http://www.piney.com/MolechFlame.jpg
Goldman talking up a position, as if Crude will rip to $200 tomorrow. Looks like head fakes all around in stocks, thinking of pulling the plug on a 3rd of FAZ, but will wait it out a bit. Oil will rip higher the moment doom and gloom is out of the headlines and Roubini’s boner medicine wears off…..agree with the currency analysis, Fly Is God!
the one thing people have to watch out is the 200-300 points swings in the same day the last three months. This is happening more often now. This to me looks kinda like summer/fall 2008.
currently long MZZ and QID
“Unusual Uncertainty”
When the Fed is out of bullets, the market is the line in the sand – the last bullet, the psych ops, the “leading indicator”. B.B. is standing by, ready to act if need be. We could use the USS 12631 right now.
I guess Obama is on board with the bankers, he is on TV and the market really likes him on the View – sarcasm off.
Fly, believing in math is the holy grail to stock market riches will end up like LTCM. People seem to have short memory.
End of month markup perhaps – TSX closed Monday for Civic Holiday.
Some end of month dividend payouts.
Lost on TNA and now smth’s wrong with my broker–cannot buy TZA. What’s second best to it?
TWM maybe? I’ve never traded it though. Charts for today look pretty similar.
Thanks, Yogi! And Boo Boo, too.
And anything like 3x that?
find a new broker?
SPXU works too for general S&P 3x
i wouldnt worry much about retail. retail is doing what it normally does this time of year whether times are good or bad. talking heads are just making more of it cause they have no shit to report so they throw it into the mix to make it sound like there’s a problem. bull shit i say.ask any retailer thats been around, how much they use the old expression,” dog days of summer”.middle of summer has always been the worst.
Rather tough to ignore some of the Japanese Giants (earnings)…awwwOOhhh..3D T.V.
and
The Hang Seng ended up +2.6*% higher<—HIGHER
Globally,
It seems as if the U.S. market is driven by need, rather than actual demand.
IMO
Until the Chineese need a break, we won't see this massive drop the "Double-Dipshitters" keep calling for
* Anyone have another plan?
I think I’m Le Fly…Tropicana…
Whippin’ stocks…Clawhamma…
BMF remix
Fly, I have a cognitive dissonance. Basically every iBC tabbed blogger uses charting, and the fact they’re tabbed means you’ve recognized value of their analysis. How come?
I kid. I kid.
To the extent that charts are nothing but representations of numbers, and the PPT is a mathematical system composed of numbers, it does not follow that the PPT=charts.
The PPT can use correlations and multivariate regression analysis that ties multiple variables together, while a chart can be for simpletons that want to study one variable – it is better when charts show multiple variables to see how they act together.
This is interesting, check out this chart (I should have written that in all caps with exclamation marks for those in the know on this blogger): http://market-ticker.org/archives/2525-Fractal-Update,-7262010.html
If that chart repeated, we would rally higher then tank.
VIX and TLT are down now, we could rocket into close.
Obamalypse Now! Karl is a great kidder too.
I never said PPT=charts. I remember Fly pointed out the difference between charting and quantitative analysis, and I’m on the same page. Charting is just a convenient projection of a more complex n-dimensional world, so perfectly caught by the mathematical beauty of PPT. It is the modern case of Plato’s Allegory of the Cave, and I like to think of Fly as the one who taketh us onto the light.
Afternoon markups on 2nd to last day of month – right on time…short em if you got em.
Ahhhhh, the manipulation of the markets…just lovin it…no wonder Main St. hates Wall St.
Are you wall street or main street?
The fly makes money betting against main street.
audit the fed, and then we will see what they own. trillions I bet.
Nasdaq was down 30 f-ckin points to rally back unched to higher……no tears, but what a joke!
This market is more like cross dressing, fucked up both ways.
Your BS sell off is over … prepare for wave5 to 1133-1148 … did you buy the dip?
we are moving down nice and easy…not fast and rough….will gives a lot more firepower when we really test key advance/declind supports….
I called this bounce again, my feel for the market is improving due to heightened sensitivity using options.
Consider taking a look at options including pricing and playing small positions in SPY (I only look at this one due to liquidity and the fear of game playing on smaller names with short squeezes). In looking at the PPT.gov movements, this one responds. I am 80% cash but play small percentages in SPY options with at least 1-2 weeks left until expiration waiting only for extreme O/B and O/S with trigger + 3 days (more trust on oversold) and have made 40% YTD on options. If we experience a true or longer trend, I would allocate more capital to longs/etfs.
http://www.nhc.noaa.gov/gtwo_atl.shtml
I thought PPT reading was overbought? so buillish ETFs are oversold? Is that normal?