I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.
I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.
Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.
JI
jimkane
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Well, I just got an e-mail from the most bullish trader I have ever known, and he said that the bottom for '07 is in, right there. We'll see. Good thing I don't need to predict to trade.
MR
mreiserer
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Well, a few more days like this and it will take a little more than convincing that it's all roses...
JI
jimkane
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Clarifying what my buddy said, he meant that was the low going forward for the rest of the year right there, not that the low earlier in the year wouldn't be violated. We would be up from yesterday for the rest of the year.
I just saw the results of a survey from after yesterday's close, and they gave several choices, like this might be the start of a bear market, a correction, a buying opportunity, wait and see. Guess what percentage of people said this could be the start of a bear market? Keep in mind they weren't asking if they thought it was the start, only if it could be. Yep, you guessed it. Zero percent. ZERO!
Not one person entertained even the possibility that it could be, even though this is the longest running cyclical bull market in history. You know what they say when every last person is on one side of the boat... Needless to say, even though it has been a nominal new low so far, yesterday wasn't the low going forward.
P.S. There seems to be someone (plunge protection team?) right under this market, so get ready for a possible 'manipulate ramp' to explode at any time.
I just saw the results of a survey from after yesterday's close, and they gave several choices, like this might be the start of a bear market, a correction, a buying opportunity, wait and see. Guess what percentage of people said this could be the start of a bear market? Keep in mind they weren't asking if they thought it was the start, only if it could be. Yep, you guessed it. Zero percent. ZERO!
Not one person entertained even the possibility that it could be, even though this is the longest running cyclical bull market in history. You know what they say when every last person is on one side of the boat... Needless to say, even though it has been a nominal new low so far, yesterday wasn't the low going forward.
P.S. There seems to be someone (plunge protection team?) right under this market, so get ready for a possible 'manipulate ramp' to explode at any time.
JI
jimkane
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quote:
Originally posted by jimkane
There seems to be someone (plunge protection team?) right under this market, so get ready for a possible 'manipulate ramp' to explode at any time.
I hope everyone is ready, in case this is it...
JI
jimkane
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This is very 'grinding' and doesn't look like a 'manipulation ramp' at all. It wouldn't surprise me (now, earlier today, yes) if they sold this into the close.
JI
jimkane
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quote:
Originally posted by jimkane
This is very 'grinding' and doesn't look like a 'manipulation ramp' at all. It wouldn't surprise me (now, earlier today, yes) if they sold this into the close.
Curious, huh?
JI
jimkane
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Well, the interesting part is what the charts showed for potential opportunities if I wanted to act on those suspicions.
JI
jimkane
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I have a key area here in the Russell, and notice how it is just staying there, chopping like crazy. Note this is Friday's POC, and the ES is also stopped dead, right at its POC. This is key. My bigger daily setups have all the indices bouncing up right off them, but it's pretty anemic.
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JI
jimkane
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Posts: 33,089
I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?
http://www.zerohedge.com/article/tale-two-decouplings
http://www.zerohedge.com/article/tale-two-decouplings