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Loopy misguided hippies aside, you know it’s a crazy world out there, when even the closest brother quarrels to the death with his brother, Cain and Abel-style. Soon enough, there will be dogs living with cats, and hippies trampled into dust by Mayor Bloomberg’s horsemen. All around us will reign confusion and despair.
Luckily, there are still some things we can rely on. The return of parachute pants within the next three years, Kim Kardashian’s made for TV divorce, a Texas win in the World Series … and Skiffles (SFK) on the bounce. Lookee here, son:
Note that we’ve already started seeing bank numbers from Schittybank, JP Morgue and Wells Fargoff— numbers that are less than picturesque… did you believe you’d see otherwise? Did you also believe that this present imbroglio in Europe was going to end with a happy landing, with no brimstone-reeking dragons pulled out from beneath the four poster beds? Do you really believe those patchouli hatted white rastafarians were going to leave Zuchinni Park without at least one projectile defenistration from the 55th floor of 85 Broad?
Think again, my brethren (and sistren). It’s highly unlikely that the banks will be allowed to proceed from the Bastille any time soon, and if they do, it will likely be only for the purposes of lightening that awful burden upon their shoulders.
And so be it. Know that the one thing you can rely on in the upcoming months, is that Skiffles will be with you, bouncing in its above-apportioned range, looking to shower you with profits. Ladies and gentlemen, bring home a box of Skiffles today.
Best to you all.
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Raise the Golden Goblet to the JIG!
and the GOP owning up to income inequality:
http://blog.reidreport.com/2011/10/the-ows-effect-eric-cantor-cares-about-income-inequality/
Wow, what a staggering admission. Lol.
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Right as usual (except for the Texas WS win)
I’m rooting against, since Albert Pujols is like… a saint & shit.
Otherwise, I’ve no dog in that hunt.
My Yanks lie peacefully in their schitty pitching graves.
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I don’t think SKF gets a bounce today.
That should be seen as an opportunity. Note the banging against the 50-day?
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Spoiler alert:
Cain wins.
So does “Cane” and of course, “Kane,” (grasshoppah).
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TA, moving averages, all of that…not valid on ultra ETFs. There is no direct supply/demand as it derives its value on a daily change from another instrument.
Yeah, amazing that, eh? No one is trading SKF for it’s own sake you are saying?
LOL.
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on top of that, if its reflecting an underlying instrument, wouldn’t the moving averages be at relatively similiar places?
No, not necessarily. Ultra ETFs price off of a multiple of the daily return of an underlying…no one left on the planet doesn’t know about this, and its grinding effects on performance due to compounding. The funds that do this employ swaps and options to even out every day. So if that’s the case, how can you point to “support” and “resistance” and MA’s, if each daily price can’t be anything but -2 x % change of the XLF? Over time the performance vs XLF becomes very distorted. If you want to trade an Ultra using TA, then use the TA on the vehicle that approximates that underlying, aka XLF.
key word is relatively, bud. while i agree that showing key resistance and support on the underlying NAV might be a better idea, it still translates to the ETF. just look at the charts for crissakes, they are relatively similar, if not percise
Not to mention the 200 day has illustrated both resistance (earlier this year) and now support at mulitiple points on the chart.
I guess that’s prolly just “coincidence?”
LOL @ what “everyone on the planet” knows.
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yikes!
Why Skiffles and not the FAZmobile?
SKF allows one to play the trend without inducing vomiting from the volatility
Thank you for answering that question for the zillionth time.
FAZ is an “every minute” stock.
Skiffles you can play the trend, despite the lurches.
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bot little more SFK a few days ago at 71.90 and a few more in 72.80 range.
Amazing… bounced on the 200 day EMA again. If it breaks there ($71.42) we are out… like Heidi Klum says.
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Did you dump? Looks like a trade or two below 71.42, but back above now.
I put in a little bit longer leash (GTC stop 71.20)
No, it has to close below. Note that the other day it long tailed beneath only to take off the next day.
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Looks like I was stopped out at 71.20. Considering a close @69.57 I’m pretty happy.
but lets see what happens tomorrow.
Another new low since making that double top recently … Cowboy up, spit out those skittles and pack some chew for this bucking bronco. Back up tomorrow on the false $2T bailout fund news … someone must be friends with the editor at The Guardian and looking to add to their SKF … Jake?
I am no friend of the Guardian.
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Anyone adding SLW here today?
Definitely considering a suite of options here.
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Jake,
Do you or would you use stops on SKF say somewhere under the 200 day EMA or no?
Yessir, see above.
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Out of all but a sliver of Skiffles at just under $70.
Could be support at $67.50, but I’d rather not chance it.
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i think the skf bounces from here.
while it tailed below, it closed on atrendline dating back to its august 1st liftoff
the xlf bounced right up into its own descending trendline, dating back to late august
and the ppt is .01 from reporting an OS signal, deadly accurate as of late(prev 6 mo’s)
maybe not a huge winner like earlier this fall, but should get a bounce here
Overall PPT?
Or the SKF?
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SKF
Humorous skit from Conan on teleprompter-less 0bama
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