iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,080 Blog Posts

Welcome to the Summer Trading Range

Well thank you, hutzpah and all other pagan celebrations.  This week our benevolent overlords rolled out the dick guillotines into town square and sent a clear message:  We’re not crashing this summer.  We just wanted better exchange rates for our European vacations.

And my how simple it was for our Leaders (Leader is good, Leader is great) to shop vac the souls out of bears.  A fucking murmur or two and poof your bearish momo is dead.  They were getting way ahead of themselves, playing the European fiddle and watching the rats march out of town.  Read the blogs and tweets of Scott Bleir and you come to realize it’s a #Costanza market.  Fly knew and continues to know it too, but wants to play the bigger move.  They both knew the market would get weak into early summer.  Anyone who has participated in this market expected likewise.

This year the news cycle was Europe’s leaders are gluttonous retards who couldn’t balance their fat asses on an office chair yet alone ring-fence the fucking debt with a side of “Facebook: The Reverse QE.”  Last year it was we’re all going to die, one Greek or Egyptian Molotov cocktail at a time.  Lean in for a second, I need to tell you a secret…FUCK NEWS.  Fuck news and fuck our population for watching that shit every night.  Gint nailed it when he wrote (back in the 80’s) calling it Kabuki Theater.  Once you accept that it’s entertainment you can redirect your brain capacity to banking coin.  Don’t get me wrong I get the news, but I consume it new school: through the lens of real people (Twitter) filtering and interpreting.  Very nice, very clean.

Now this week, just in time to rout the bears, a couple cock suckers (Fedwire and them) told a couple talking heads the printing presses are warmed up.  And boom we’re forming the bottom bracket for a summer trading range.  At least this is how I’ll be paying the market in the weeks to come.

Talking SPY levels:  133.50-133.75 is our mid-point.  Lots of confluence there.  Look for the possibility of another attempted leg lower next week.  Any higher low around 130 is very bullish and could pump us clear to the top of our bracket, near 138.  Be cautious adding long exposure above 133.75 and look to accumulate stocks demonstrating relative strength below.  A new low south of 127 signals reassess.

If you’re not embracing the internets for all its data filtration might, catch up playa.

The bears thought they were clear sailing, but unlike this guy, they hit the fucking ground:

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2 comments

  1. Rhino

    Look for a dip, then another rally?

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    • Raul3

      I don’t know if we’ll see much of a dip, but we have a ways above for bracket high. Try to get involved near the mid-line IMO and don’t chase too far. Markets will be thin and fast if it’s going to be anything like the last two summers.

      Watch for news flow to turn defcon six again near bracket high.

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