iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
2,988 Blog Posts

Hard To Argue with Logic: iBankCoin Labs Find No Reason for Concern Heading into Week Two

Greetings from the iBankCoin labs watchtower.  At over 15,000 vertical feet of elevation, the observation deck allows for spectacular views of the financial landscape, and with it an honest conception for world affairs.

The market tipped its hand Wednesday, just enough for the supercomputers inside Exodus to alert members of an impending blitzkrieg from the bulls.  It looks like bullish dominance will continue to assert itself next week—but perhaps in a more subtle way.

There is likely to be more action in the momentum space than the indices.  When we float around all-time highs, there usually isn’t much opportunity for a fella like me to earn money.  My market profile fire levels are are left below, and the rotations are often small and slow.

If I needed to engage the market next week, intra-day, to extract moneys, my attention would be on the Momentum screen inside Exodus.  I would refresh it at 11am and again at 1:30pm and look for names setting up a nice pullback after an initial surge.  I would buy said pullback, ride it back to intra-day highs (god willing) then GTFO and move to the next one.

The best part about building your own model using quality data, like the raw futures data I pipe in from IQFeed and the elegant algorithms inside Exodus, is you trust it and know when to act.  There is no better approach to engaging the market than a consistently objective one.

Most people want to be told what to do.  Unfortunately, they depend on others.  I depend on robots.  My robots.  It’s better that way.

If you are good to your robots, they will be good to you.  Keep them calibrated and oiled.  Offer them zero time off but also a comfortable place to call home and appreciation for their service.

Despite my headline boldly claiming ‘no reason for concern’ there is one.  The Russell 2000 began to turn lower at a curious level last week.  It is the weakest looking index.  Keep an eye on it this week to see if it can lead lower.

Otherwise, all is well in 2017.  A new leadership shall be ushered in soon, one that promises to make the USA stronger than ever, and investors seem emboldened by these prospects. Yes, the rally is long-in-tooth, but the music is still playing—so keep dancing—monkey.

BULLISH

Exodus members, the 113th Edition of Strategy Session is published.  Go check it out now.  Three days hence its relevance is less.  By Friday, practically useless.  Now is when to read it.  Go.

 

 

Comments »

NASDAQ Prints Powerful Trend Day To End First Week of 2017

Welcome to Trend Day.  The first and second rule of Trend Day are you do not talk about Trend Day:

Third rule of Trend Day: engage every pullback.  Fourth rule: always keep a runner.  Fifth rule: one trade at a time, fellas.  Sixth rule: trades are intra-day only.  No overnight shit.  Seventh rule: trends will go on as long as they have to.  And the eight and final rule: if this is your first Trend Day, you have to trade.

Ladies and gentlemen, just two days after Exodus algorithms ended the Krampus Alert, and on the final day of trade in this first magnificent week of 2017, the NASDAQ goes out and prints a delicious and powerful trend day.

I am so fortunate to understand auction theory—the cornerstone of my trading approach—and how to supercharge it with “The Fly’s” fucking time machine.  What for most was just another data point in a sea of information was for yours truly a nudge to flip my bias:

notes-jan2017 historical-jan4-2017

Trend days are the most powerful day type in auction theory.  They tell us something going forward.  They also offer tons of reward to their riders.  In short, I did my job, and now I want to go back on vacation.

GOD BLESS AMERICA

Comments »

Musk Hints That The Trump Administration May Be Surprisingly Good for Renewable Energy During Gigafactory Unveiling

When you’re in the business of building the biggest factory in the world right here in AMERICA, it makes sense to align your company mission with an administration hellbent on MAGA.  And while it seemed like common sense that Tesla would succeed under a Trump administration, it became even more evident when supreme leader Musk (all Praise and Glory to The Leader) joined the President-elect’s Strategic and Policy Forum in December.  Now we’re hearing hints from electrek that our upcoming administration will be good for the clean energy industry.

Investors attending the event told Electrek that Musk said the following when his meeting with Trump came up:

“The President-elect has a strong emphasis on US manufacturing and so do we. We are building the biggest factory in the world right here, creating US jobs… I think we may see some surprising things from the next administration. We don’t think they will be negative on fossil fuels… but they may also be positive on renewables.

When someone like Musk, who had access to Trump, says something like that, it’s significant. That could represent an important change in the perceived approach to renewables that the upcoming Trump administration has been taking.

It helps that Tesla employs more than 25,000 people in the USA already and wants to add another 10,500 to the roster.

So while the liberal front cringes from a belief that the world will resolve to a giant pile of carbon soot over the next four years, it seems their concern is misplaced.  Shockingly enough, it seems a grand company like Tesla might be able to compete with traditional, dirty energy production without the government heavily sanctioning and restricting the fossil fuels industry.

No, instead the Great Emperor of a sustainable future will out hustle traditional energy production for the win, naturally.

BULLISH for Earth and $TSLA

 

Comments »

Solid Non-Farm Payroll Data Keeps Bidders in The NASDAQ

NASDAQ futures are coming into Friday with a slight gap up after an overnight session featuring normal range and volume.  Price worked higher overnight, moving up beyond the Thursday high after a Non-farm payroll data came in better-than-expected:

Non-farm Payrolls for Dec 156.0K vs 178.0K Est; Prior 178.0K

Unemployment Rate for Dec 4.70% vs 4.70% Est; Prior 4.60%

The economic calendar is otherwise light today.  The Factory and Durable Goods orders data is out at 10am and Baker Hughes rig count is out at 1pm.

Yesterday we printed a normal variation up.  After opening flat, a strong drive higher began the day and buyers became initiative during the afternoon, extending price higher and closing near session high.

Heading into today my primary expectation is for sellers to work into the overnight inventory and close the gap down to 4961.25.  From there, buyers step in and press through overnight high 4970 and continue higher, up to 4984 before two way trade ensues.

Hypo 2 sellers press down through overnight low 44958.25.  Look for buyers down at 4957 and two way trade to ensue.

Hypo 3 stronger sellers work down to 4944.25 before two way trade ensues.

Levels:

01062017_nq_mp

Volume profiles, gaps, and measured moves:

01062017_nq_vpgapsmeasuredmoves

Comments »

iBankCoin Labs Krampus Alert Lifted; Children Run Free, Enriched With Christmas Gains

While tomorrow shows a slight statistical edge for a range extension down (per an outdated 3 consecutive unidirectional days study) and while the Russell futures are attempting to turn lower at a curious level (from Exodus Strategy Session) the KRAMPUS ALERT issued before Christmas has been lifted.

I scratching my $QID position in a non-event of a round-trip, but the alert still proved indispensable.  Over the course of our Krampus conditions, the /NQ_F went range extension down 8 out of 12 days.

Two of the days when the NASDAQ didn’t go range extension down it offered huge morning rallies that faded.

Thus for ten days, or 83% of the time, it made sense to have a short bias, intraday.  Some of you may not grasp how valuable that edge can be.  For a small group who cares to study auction theory, good times.

It appears investors who held through the alert, long stocks, were good little boys and girls this Christmas—for they managed to escape the wrath of Krampus instead being showered with massive gains and winship on a national level.

iBC Labs threat level has been reduced to to Blue.

BULLISH

bluehomeland

Exodus members, stay abreast with the Exodus Strategy Session. With a naked eye, it appears we are still near RCS conditions.  The next report will be out Sunday around noon.

However, also take a look inside the community notes regarding some observations of the system-wide algos.

Noobs, if you have any questions about my esoteric readings of the algorithms, auction theory, or plain old trading 101, fire away.  I’m grateful to understand many of these concepts and to be among others who are curious.

Comments »

NASDAQ Transportation Index Traps Short Sellers Right Off The Rip

The NASDAQ Transportation index is currently performing one of the stock market’s favorite pastimes, converting former resistance into support.

If you only understand this one tenant of technical analysis, you will be a long way towards better risk management and position entry.

In early December the TRANX.X broke up through prior all-time highs.  Since then price has retraced, right back down into the prior resistance.  Low-and-behold, a bid is present:

nastran-jan2017

The index made a powerful move out of consolidation in November, declaring a definitive and explosive victory for bulls.  Going forward, we need to monitor whether or not investors become initiative, allocating more funds to the economically sensitive industry-group as the year matures.  So far, bulls remain in control.

BULLISH

Comments »

Tesla Motors Skips Detroit Auto Show for Second Year

This upcoming Sunday marks the official beginning of the Detroit Auto Show, and despite it being the second consecutive year Tesla Motors will not be in attendance, there are still some modestly interesting presentations worth seeing—mostly in the automated car department.

The Detroit News is loosely promising several automated or semi-automated cars will be on display:

[…]more and more of the new production models on display at Cobo Center will be featuring the latest in semi-autonomous technologies capable of watching your blind spot, minding oncoming traffic as you back out of a mall parking lot and even slamming on the brakes automatically if you don’t respond quickly enough to a potential collision.

If it weren’t for the public’s fascination with autonomous vehicles, the lack of a presence from Tesla would likely keep 80% of the population from braving the arctic conditions that exist in and around Cobo Hall (situated on the Detroit River aka cold AF).

Tesla motors skips the Motor City because they are mistreated by the state of Michigan, whose politicians are fighting a losing battle to protect car dealerships—the worst cadre of charlatans in existence.  In other words, they don’t like change and they’re trying to bureaucratically resist it like a bunch of bitches.

Expect lots of auto news to come out over the next few weeks, with much of it focusing on driverless cars.  As for news on Tesla, well, it won’t be coming out of Detroit.

BULLISH for TESLA

BEARISH for DETROIT

Comments »

GIGAFACTORY ACTIVATED: ALL HAIL THE ALMIGHTY ELON

Pardon my being a day late to report this, but our Supreme Leader, The One who forced the malignant auto-industry to chase him into the electric car race, The One who wants to save Spaceship Earth from the corrosive grip of Big Oil, The One who’s hashing out plans to abort Earth and save humanity just in case it is too late to save our blue marble, yes Elon (All Praise and Glory to The Leader) flipped the switch and activated the GIGAFACTORY Wednesday.

Jubilee rang out in the streets as the townsfolk held an impromptu Triumph for earth’s living deity, as what will soon be the world’s biggest factory began cranking out batteries filled with sweet-sweet lithium ions.

Hidden in the scrubland east of Reno, Nev., where cowboys gamble and wild horses still roam—a diamond-shaped factory of outlandish proportions is emerging from the sweat and promises of Tesla CEO Elon Musk. It’s known as the Gigafactory, and today its first battery cells are rolling off production lines to power the company’s energy storage products and, before long, the Model 3 electric car.

The start of mass production is a huge milestone in Tesla’s quest to electrify transportation, and it brings to America a manufacturing industry—battery cells—that’s long been dominated by China, Japan, and South Korea. More than 2,900 people are already working at the 4.9 million square-foot facility, and another 4,000 jobs (including temporary construction work) will be added this year through the partnership between Tesla and Panasonic.

By 2018, the Gigafactory, which is less than a third complete, will double the world’s production capacity for lithium-ion batteries and employ 6,500 full-time Reno-based workers, according to a new hiring forecast from Tesla.

Henceforth, the calendars will now read 1 A.G.F. as humanity leaves the dark time before the Great Gigafactory, son of Elon (all Praise and Glory to The Leader) was born.

gigafac-bloom

The project is moving ahead at a brisk pace and promises jobs for the good lizard folk of Nevada, who will clock into the Gigafactory 6 days a week and lead the charge to save us all, one liberating battery at a time.

Said batteries will be the fuel for Tesla to achieve the greatest feat in industrial history—delivering 500,000 Model 3 sales by 2018—a milestone claimed impossible by the angry old men of the car industry, the worst cabal since pre-World War I imperial Europe.

However, what seems impossible for the common man is obtainable by the all-powerful Elon (all Praise and Glory to The Leader) for he has proven himself capable of creating greatness.  He has also aligned himself with the upcoming executive branch, ensuring little friction from the Feds, an important alliance for a modern Leader to make if he intends to succeed in today’s cold, corrupt world.

The Gigafactory is live gentlemen, and shares of Tesla are responding in kind, trading above $220 after being sub-200 before the Christians and pagans celebrated their Xmas holiday.

With the advent of a factory producing batteries cheaper than anyone else in the world, the future looks bright for the scientists and engineers at Tesla Motors.  Soon humankind will have an energy-independence choice and self-driving cars, a prophecy laughed at by staunch deniers.

BULLISH

ONWARD TESLA SOLDIERS, MARCHING ON TO WAR, WITH THE GIGAFACTORY, GOING ONLINE BEFORE!

Writer’s note: I am long of $TSLA shares, in USD terms, and will continue to be long $TSLA shares, accumulating more after Q1 earnings, and again and more until I have thousands of shares to bestow to my kin.

Comments »

ADP Employment Data Comes in Below Expectations; NASDAQ Set To Begin Thursday Lower

NASDAQ futures are coming into Thursday with a slight gap down after an overnight session featuring normal range and volume.  Price was balanced and held the Wednesday range overnight.  The ADP Employment data at 8:15am came out below expectations while Initial/Continuing Jobless Claims data at 8:30am was mixed.  However, investors are more likely to react to the upcoming Non-farm Payroll data which is due out Friday morning.

Also on the economic docket today we have Non-Manufacturing Composite data at 10am and crude oil inventory at 11am.

Yesterday we printed a normal variation up.  The day began with a gap up and drive higher which initially faded after trading 1-tick above last Thursday’s high.  However, sellers became initiative before lunchtime and pressed range extension up, reclaiming the well-developed value zone established late last year.

Heading into today my primary expectation is for sellers to press down through overnight low 4920.50 and close the open gap down at 4907.  Look for buyers at the 4907 zone and two way trade to ensue.

Hypo 2 buyers work into the overnight inventory and close the gap up to 4933 before working up through overnight high 4936.50.  Price continues higher, up to 4953.25 before two way trade ensues.

Hypo 3 strong buyers press up beyond 4953.25 and sustain trade above it setting up a rally to 4984.25 before two way trade ensues.

Levels:

01042017_nq_mp

Volume profiles, gaps, and measured moves:

01042017_nq_vpgapsmeasuredmoves

Comments »

Ford Bends The Knee; Cancels Plan To Build Billion Dollar Mexico Plant

Despite Ford’s CEO Mark Fields claim that the company would have decided to axe plans to build a $1.6B plant in Mexico regardless, it is abundantly clear that their management team is submitting to pressure from President-elect Trump.

Fords [sic] thinks the opportunity all the sudden is better domestically, as if America is becoming great again for some reason they didn’t anticipate back in May when they began planning the Mexican factory.

The automaker would have made the same decision even without Trump’s involvement, Fields told Bloomberg Television today. U.S. buyers are simply not as interested in the small cars that are being built in Mexico, while electric vehicles and hybrids have the potential for growth, he said.

“It is the wrong time to build new plants in Mexico,” Erik Gordon, a professor at the University of Michigan’s Ross School of Business, said in an e-mail. Ford will save money, “American jobs, and will avoid the risk of a border tax and a smack in the face from the new president.”

Wall Street rewarded the second-largest automaker for pivoting away from Mexico, $F shares were up nearly +4% Tuesday.

Overall, however, it paints a company that is behaving in a reactionary way.  Notice how Fields now wants to pursue the electric car market?  Could it be because Elon Musk (all Praise and Glory to The Leader) was included in Trump’s new strategic team?

Either way, this is good news for Michigan as the company is projecting the move will save about 3,700 jobs in the Flat Rock area.  This is the world Ford lives in–where they assume a beta role in the auto industry and do what they’re told.  Acquiescence to the Leader(s).  And it might just work.

Bullish.

Comments »