Let’s be clear: the market should be down over 2% right now; but it isn’t. We are seeing rates simply disappear and bonds rallying like a motherfucker, yet zero market reaction. The yen is absolutely parabolic to the upside, while the dollar suffers, making today an extraordinary day. Perhaps the yen carry trade is over, swapped out for dollars? I am not sure about that. However, one thing I am positively certain of is this: we are not supposed to rally while bonds are screaming to the upside.
Imagine you are dancing at some party. The music is going fast paced and loud. Girls out number men 3:1 and you are having the time of your life, until 10 fucking dorks step into the small club, dressed with pocket protectors and velcro pants. They take over the DJ booth and put this shit on:
[youtube:http://www.youtube.com/watch?v=ICm42vKNDMY 616 500]Then they starting “nerding” up the joint, officially fucking up your party, with their robot- like Hugh Hendry dances. The girls leave and you are left holding your dick in your hand.
That’s what TLT represents, right now. It is a fucking cock-goblin and needs to be stopped, else we will all be inserted into the funnel and effectively smashed to pieces by the nerdy hordes.
Howsoever, “The Fly” does not participate in your little quibbles, as he has an aerial view from above. Nevertheless, for the sake of my longs, TLT needs to sell off.
Bottom line: tech has been obliterated in recent weeks and offers a decent set-up, right here, right now. If we get a reversal to the downside in the bond market, we will have a rally, AND MORE.
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First. We rally today after a bitter week.
Fig
Oversold readings will probably still remain for most of this week, but a good chance for a bounce to initiate either this week or next week.
Back to 10,700-ish, then the rest is hazy (crystal ball started fogging up again).
Those nerdy guys are the quants who set up the bots that rule the market.
“Quintuple Bottom” Working well in SMH. Looks like it will hold here, thereby saving tech. “Reverse Head and Shoulders” still valid in most indexes , and several sectors.
If TLT makes a “blow off top” here , I think we have possibly just seen the last Dow dip of 2010.
“I think we have possibly just seen the last Dow dip of 2010.” Awww, you used that “possibly” word. Otherwise, new Dow low coming soon. The market must go down before it can go up……there can’t be much of a year end rally from this level.
TLT sure looks like a shooting star, and it’s oversold on weekly and monthlies, like a mofo.
Lock your rates in today, I think.
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why the fuck do you have to go after us nerds?
Why not go after the dumbass football players or the stoners or some other group.
Nerds are the ones who do well. Yet we get shit on all the time. Fuck all you sports fags. I rather read then play fantasy football.
LOL
STFU NERD!
LOL. My theory on Nerds- They wind up working for some shit tech company, inventing some shit that nobody fucking cares about or will ever need, earning 50K/year and driving a used Taurus.
Fly…. Great Post, LMAO
Does someone need a wedgie?
Little known fact—> Hugh Hendry has had a remarkably robust acting career.
http://familyguy.wikia.com/wiki/Buzz_Killington
http://www.youtube.com/watch?v=CcyiskNIiBI&feature=related
Fly, how confident are you in PPT oversold and overbought ratings working if we go into more of a trending market, or “exhuberant” market, or a forced selling market (2008). Is there a way to see how the PPT overbought/oversold ratings would have been in the past? like 2007-2009, late 90s or 2000-2002? It would be nice to see extreme conditions too like hyperinflationary markets, deflationary markets and stagflationary markets of the past.
Mr. FIG,
I do not profess to speak for Mr. The Fly, but I have been eyeballing, make that obsessing, over the PPT scores for more than a year now. It is my opinion that the hybrid score is indeud better in trending markets than in choppy markets. Choppy markets tend to have a few days lag from the hybrid signals to the actual reversal. Back in the good old days of 2009 the fucker nailed them within the day or two at the most.
It is still the best market timing device known to mankind or those PumaPunkaPumpkin whatevers.
Bought TBT last week, brilliant, as I get parabolically poleaxed by TLT.
Let it be known, The Fly is a gentle man.
Well we know that the Players that needed to jump the gun on our weekly relief rally and SNDK, etc will probably get punished today or tomorrow for not being patient.
and Buy SNDK…can’t seem to edit today?
Put your one foot down in front of the other, put your other foot down, down, DOWN!!!!!
Hell yah!!! I’m in heaven!
Great flick and I’m loving that tune. Nerd brains taste the best.
Now if they would play this the panties would be dropping!
http://www.zappinternet.com/video/tucNboDwoH/Revenge-of-the-Nerds-Song