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.
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JI
jimkane
Rep: 3,058
Posts: 33,089
Well, I'll have to be happy with a close on a new high tick for the day, at 6.25 points from entry trigger. Now let's see what they do in GLOBEX. When the direction is predecided it's just so much easier.
JI
jimkane
Rep: 3,058
Posts: 33,089
Damn, it feels good to be a 'banksta':
http://www.zerohedge.com/article/goldmans-42-100mm-trading-days-q2-absolute-unprecedented-record-just-two-days-trading-losses
This makes me want to puke. It's the biggest looting of a country and of its people I think in the history of the world. And right under everyone's noses, and we all just eat it, without a word. I'm just stunned, but I guess I shouldn't be.
http://www.zerohedge.com/article/goldmans-42-100mm-trading-days-q2-absolute-unprecedented-record-just-two-days-trading-losses
This makes me want to puke. It's the biggest looting of a country and of its people I think in the history of the world. And right under everyone's noses, and we all just eat it, without a word. I'm just stunned, but I guess I shouldn't be.
JI
jimkane
Rep: 3,058
Posts: 33,089
In case you didn't catch the reference above, it's become the cool phrase everywhere, a spin-off from the Geto Boys song 'Damn It Feels Good To Be A Gangsta', popularized in the cult classic 'Office Space'.
JI
jimkane
Rep: 3,058
Posts: 33,089
Just having fun today making fun posts. If hardly anyone is going to participate, I might as well just have fun. From the Rush song Subdivisions:
Opinions all provided, The future pre-decided...
Yep.
Opinions all provided, The future pre-decided...
Yep.
JI
jimkane
Rep: 3,058
Posts: 33,089
So, this does seem like the final frenzied climax phase. I rather suspect we will be at S&P 1,100 or 1,200 in very, very short order. The financials are really going nuts. Look at AIG, up about 70% today, CIT, RDN, MBI, PMI, ABK, XLF, or any financial. We may see 300%, 400%, 500% runs in these in the next day or two. It's all quite incredible. Imagine, your pension and mutual funds buying this stuff hand over fist at these prices, all based on momentum. After all we have been through, and all the toxic junk, nothing successful has been done to fix any of that, and they are fighting each other to pay up for this stuff with your money. Just incredible. I'm to the point where I can no longer hold my nose and buy, so I may have to hire someone to do it for me, I can't bear it:-) But the potential money to be made is beyond my wildest, wildest dreams, so I have to 'get long'. Long and never wrong. This looks like the final blow-off, folks, but we'll see. 100% bulls, and 100% calling the recession over. And GS making $100 mil a day. We must be close...
JI
jimkane
Rep: 3,058
Posts: 33,089
quote:It just about always is, in my experience...
Originally posted by roofer
its was in the geometry....
JI
jimkane
Rep: 3,058
Posts: 33,089
Some actual sellers? What a refeshing change. Anyone want to take the other side of a bet they finish it up today :-)
You all saw the setup for this last sell, right?
You all saw the setup for this last sell, right?
JI
jimkane
Rep: 3,058
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