October Brings The Big Nasty

This first week of October was designed to put your willpower to the test.  Equity index prices have come back to life and with them bring the promise of opportunity.  There are still sellers in this market, strong ones, who have had ample opportunity to take some profits on the recent move and retreat to their shelters.  Bull, pressed right to the edge of the abyss, falling off the cliff, then clinging with one hand to the loose rock managed to claw two hands into grip and sneak a shoulder onto the rock.  As we go into the weekend, here they are, alive, with a strong grip and fire in their eyes.

What is in store for them should they gain footing is quite another battle indeed.

My day featured very little action, some sell scales on a few winners who emerged from the rubble and I started a long about 8% higher in VSLR.  The market is not thrilled to have another solar stock in its ranks, what with oil tumbling and all.  A dangerous man who I keep contact with informed me two Mondays back about the Rockefeller Fund pulling out of oil and gas.  I thought, “This certainly must mark a bottom.”  Apparently not, and that tough guy hedgie (his name escapes me, very pompous) who Bloomberg recently lambasted must be a real pleasure to be around this weekend.  The biggest rift I have with VSLR is how they are competing with my good friend Elon’s cousins over at SCTY.  A clash of titans for the solar rooftop space which will certainly benefit mankind on the net.

Buyers showed their hand today and potentially expended lots of energy.  Come Monday they have a volume cliff to defend and a higher low to print.  And not some pathetic higher low job, something with purpose or it will be bunker bombed by this potent sell flow of late.  I have an interesting study I would like to produce this weekend but I also have a sold 20 hours of labor ahead of me so we shall see if the data is produced.  Overall, grand trading environment, best to you over the weekend, and let’s hope for some more action next week.