There are very specific correlations that I am watching, all to do with predicting a sharp rally higher. It should be no surprise to non-members of The PPT that we are oversold. I don’t think that betrays the data paid for by members. What’s even more interesting than that is the incredibly low level of percentage of large cap stocks rated buy.
As of yesterday, just 1.35% of large cap stocks were rated buy, the second lowest reading ever. The last time the reading was this low was on 9/22/11, which led to a sharp rally in the S&P from $112 to $117 in a matter of days. On 8/8/11, the level was below 3%, leading to another monster rally up to $117 shortly thereafter. Algorithms are unable to read news and discern whether Greece is going to get a bailout or not. So it’s important to fall back on intuition and market experience when positioning.
For me, this is an opportunity to buy into fear. I do not intend to overstay my welcome due to the unresolved issues at hand. However, based purely on the laws of mathematics, we are due for a cocaine, Rick Ross, GORILLA rock smashing rally.
Top picks: long WNR, DECK, IPGP, TEX, CLF, short EXH.
If you enjoy the content at iBankCoin, please follow us on Twitter
This market is insane, hopefully Ricky “Freeway” Ross will roll into the rescue.
nice beard reference
I like Fibonacci for my Math Class. You know I am waiting for AAPL to fall apart so I can make a “they Killed Kenny” joke.
Talking about Fibo and AAPL…367.71 is major Fibo MA support on the daily multi month…come on, lets take that puppy out.
Don’t be a hater, nymph
I’m not..I just love a good set up line,lol. Plus, I need AAPL to get back to 278 so I can get my SPX 1020 after AA earnings and China comes back and doesn’t restock. Markets won’t roll until AAPL gives up.
AAGGGGG, AAPL KILLED Kenny (from the prior blog), YOU BASTARDS…things that amuse me.
Congratulations. You called the bottom to the exact minute.
the mkt runs on psychology, repeating chart patterns, and kale.
Mother Market runs on blood and we are merely it’s servant allowing her to feed on our life essence…
And here come the collapse.
Apropos
Le Fly,
Your short TROW call a week ago was excellent. Why is it no longer a recommended short?
No bounce until we reach 820 on SPX. Who will buy this blood.
>Algorithms are unable to read news and discern whether Greece is going to get a bailout or not
When will this be fixed?
cocaine!
holy chit kale that’s a good one
I rwarned you Fry. There rill be no frucking rarry. I rill not buy fancy ramb skin boots and rill not buy this iPhone 4s.
squeeze playing this market is like threading the haystack needle
Hell of a rally. I’d hate to see a downward correction…
Lovely tape.
“Algorithms are unable to read news and discern whether Greece is going to get a bailout or not.” How sure are you of that? Algorithms most certainly *can* read the news, but they can only “predict the present.” http://meb.tw/nleIhu $$
Fly you tout mathematical precision, yet you lose.
CHEQUEMATE….
LOL I don’t think I’ve ever seen so much rally in so little time.
It’s pretty sad when you rely on a guy in a cash dropping helicopter to prop up this joke of a market.
Wow, these 3x WMDs don’t work too well in a 40+ VIX environment.
You could lose a finger real quick.
Well we’re approaching do or die here. If SPY drops below about 108.5 we could crash and burn. if we can make a push into close fly’s rally looks like it will materialize
So what your saying mhass is…if we go up we will be fine long but if we go down we won’t?
Sorry, just trying to grasp at your wisdom…uh huh…uh huh…
what I’m saying is we are at critical point. its been breached. VXX and TZA time
well i was wrong
It is better to have guessed and lost than have to never guessed at all
but not really
beep, beep…Fazmobile coming thru.
French Govt…Grrr..you have to come to the aid of that Bank in the last hour of trading. I so dislike Govt Stimulus..that is the weakest part of my analysis.
Being a permabear idiot is the weakest part of your analysis.
CHEQUEMATE.
Analyzing stocks is based 40% on earnings,
30% on the economy in general, and 40% math.
and 10% too much
Stocks are a market….. “within” markets…and in all…… the #1 highest risk/total bullshit/crapshoot ballsuck market of em all.
I use SPY as a “risk barometer” for my currency trading – to see what the “silly of the silly” are actually considering doing ( in general that is….I love what everyone is doing here )
In this investment climate..anyone (again in general) focused on gains made – buying U.S equities must be riding a “golden magic carpet of….uh….”blow bound” spiders silk”
smuggles outta Göbekli Tepe.
I want one of those by the way….but for now am satisified with my solar powered shuttle with U.S Dollar Shields.
Classic bear market price action. What does that mean? Have you ever seen a big dog taking a big dump then slurp it up like it was gourmet dog food?
Can anyone explain the behavior in TZA? Shouldn’t it be positive today?
The Russell 2000 Index is up, check IWM
Got the punch cards, gold and Rakesh back today from JFK just in time for the 12 Noon launch.
All we had to do was grease some palms.
The sell, sell, sell program is in control now.
This is what you get for outsourcing your labor.
Bear market just getting started!
What is the short term market direction? A little up, a lot up, a little down, a lot down…..or flat.
Place your bets.
I am not gonna play that game.
If a good company hits my low ball price target, I buy. If they hit my sell target, I sell.
Funny, but in the long run I am buying when the market sucks and selling when the retail investor is buying.
Seems to work out o.k.
just started?
looks like perfect timing for the face ripping rally.
gotta love thE IRONY HERE.
Im 100% CASH AS 12 MINUTES AGO.
SHORT NFLX!!!!!!!!!!
I think your gorilla showed up.
CHEQUEMATE
IBC leeches bow…
The market runs on meth.
25 S&P points in 20 minutes. Ridiculous. Embarassing. Casino.
All on black!
BOTs are like women…on or off
I got a fresh line up, fresh outfit / ‘Bout to have the parking lot on smash / Plus I got a Chevy with a 4-54 in the hood that bitch got 1-25 in the dash. Fly’s the biggest boss that ya seen thus far.