This churning may be a good sign for the bears. Let's see how the indicators react. I may try some shorts again soon. I got stopped out at the open on Friday with minor damage.
GL!
Morning Post 05/17/2024 SPX
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X is lit up this morning raging against the system.
Good v evil
On to the lie -
Minis flat. Struggling with double top resistance. At this point STB ...
18 hours ago
Test
ReplyDeleteI've got my Sith Army knife and I'm ready for some drop. I agree with a comment/post somewhere that you stated we need to back up and look at the longer term charts. Well P2, welcome back (ugh). However, stuff is going to get really interesting here soon IMHO.
ReplyDeleteDid you catch that story about the Prius in Cali that couldn't stop? Toyota has some issues big time..
Thanks, I'll see comments here better than on the other site cause I get email notification (I have that turned off for the other site). We're close. I did the post on stocktock.com today you may have seen or want to see about backing up. We're close, but would not be surprised to see some more upside.
ReplyDeleteWhat's the name? Shanky on stocktock.com?
ReplyDeleteBTW any one else read the 'Dark Side'?
ReplyDeleteNo one else invited here yet.
ReplyDeletehttp://www.stocktock.com/2010/03/08/keep-an-eye-on-the-monthlyweekly-indicators/
Was just reading it. Good stuff! I'm contemplating blow out of all shorts right now and definitely at 1150 on SnP. Maybe not go long just yet, but sit back and wait for the weekly to turn. (Especially on the RUT).
ReplyDeleteSilver needs to get its ass out of the clouds, and from all dollar charts I have seen it looks poised to rise, so hopefully this will happen.
ReplyDeleteSilver usually blows past gold after gold has topped (I'm speculating the dumb $$ chasing in at the top) As tot he price of gold. I'd expect a possible pop in SLV. See this
ReplyDeletehttp://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3186525&cmd=show[s180216591]&disp=P
Not sure what is going to move the market south at this time. If Greece did not budge it and if everyone knows it is rigged, then something "external" will have to make it happen. One thing os for sure, you know the big banks are positioned properly to make a killing on the downward move.
Ohh fuck yea.. with the VIX this low?!?! Can you say GS is buying puts? (Lol, that's prolly why the volume is low.. JPM and GS too busy beating each other off with the cheap puts!) I mean come on, who in their right mind wouldn't??
ReplyDeleteWhen it drops, there is no 'watch out below'. It is go to the fucking hills and set up camp. ..And people laugh at the concept of 'Red Dawn'.