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.

Yep, I agree. They are the bottom of the dirtbags and they deserve to go down just like the Enrons and Worldcoms did.
Here is the transcript:

Then Ackerman put this doozey of a question to the panel: "How much of your personal money—new money—have you put into your company?"

Goldman Sachs CEO Lloyd Blankfein stammered to explain how his wealth is already in the company before Ackerman squeezed a "nothing" out of him.
JPMorgan CEO Jamie Dimon: "$12 million."
Bank of New York Mellon CEO Robert Kelly: "Nothing."
Bank of America CEO Ken Lewis: "I've bought 400,000 shares."
State Street CEO Ronald Logue: "Nothing."
Morgan Stanley CEO John Mack: "Nothing."
Citigroup CEO Vikram Pandit: Inaudible, but Pandit has bought several million Citi shares in the past 12 months.
Wells Fargo CEO John Stumpf: "Nothing."

It's pretty funny (read 'pathetic', or 'bizarre') how many times lately the market has gapped down big, and shortly after the open, frequently (but not always) about the same time (around 10 AM), they come in and just buy and buy and buy. Must be bargain hunters, right? Too funny.

But for trading it's awesome, don't get me wrong.

quote:

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Originally posted by TonyC

sweet reaction off the 4PC...

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Is this sweet, or is it sweet, or, well, is it sweet? Now that's what I call a swing trade.

So, this thing was right on the edge of completely collapsing in my opinion, and the Ba-Rock-Star Obama crew announces they will now subsidize homeowner mortgages, and up it goes. Too funny. Great trade, I love it, but just too funny.

Okay, so now we hear "They are considering the possibility" of subsidizing mortgages for some select homeowners. And that implies stocks are much, much more valuable and desirable? That was worthy of the S&P putting on almost 30 points in essentially a blink? Here's what I think. The PPT, working in concert with 'The Team', sees the market ready to crater, and they make the announcement and right then start to buy futures like crazy. That kicks off the short covering, the new longs pile on, and the rest is history. Same exact pattern I see when a huge report come out negative, the market starts to drop fast, and then 'they' come in, it ramps straight up huge and non-stop. Hey, who cares, it's beyond awesome for trading, but it just has me chuckling, thinking about how they keep saying it is a free market, and so on. It's a joke market, in my opinion. Great for trading, but I almost (not quite, but almost) feel bad about thinking about making money 'front running' taxpayers.

Isn't it amazing that they patiently waited with any action until the main index will reach the line, which is very well known at this forum, almost exactly to the tick? :-)

Yep. I was going to post that exact set yesterday and mention that, but I never got to it. Thanks. It is amazing to me how often that happens. I guess, as roofer would say, 'they' know what we know, and knew if that gave way, it was toast. So, 'they' didn't let it give way, in my opinion.

BTW, look at all the choices for spike lines at that low, too. And what I have taken to calling, to myself, a 'double barreled 1.128 shotgun', was there, too.

Wow, this selling into the close and after cash in the futures is something. I can't recall seeing too many ES 1-min bars with near 100K in volume. This thing is still selling. Very, very curious. Good thing for cash they closed it down, or it really may have been something. On the other hand, cash closing was factored into the big sell, I'm sure, by whoever it was. This is such an odd market...

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