Tuesday, July 21, 2009

SPX Failed breakout?

wrote yesterday on Disqus:

in Bear Capitulation Monday Rub Down on evilspeculator


this week:
restaurants = short
retail = short (GYMB = sweet)
semis = short (INTC, NTAP, SNDK)
shippers ~ short
Transports = lagging and IYT does NOT truly reflect performance of components
Financials = SHORT (GS, STT, MA, V, HBC, PRU)
FCX, GG, CAT - short
VIX = long and on tl?
People who watch CNBC say Cramer says: "Yeah, wear the blinders and buy-buy-buy - just like back in Oct 2007 - you'll be glad you did"

End of quote

Now, nothing much changed, dollar trying to find local bottom on TSDetup Buy daily

Oil sold off for “no reason”  other than dollar(?), bonds moving up second day in the row, market dived on great CAT ER (great??? selling off PAID manufactured goods???), TNX sees no light in 2010, APPL proved time and again that stupidity of John Q. Public knows no limits (buying I-shit-phones instead of paying off credit cards) – everything progresses as planned for Thursday selloff.  One of the most prominent bears (at least he thinks of himself as “important bear”) declared himself surrendered and admitted not making any money in 2009 (wow – how in the hell was it possible with at least 2 major trading opportunities – down into March and ride up since March 6th [somehow I managed to spot it dead on as oppose to most of “greatest” going long 2 weeks after the bottom] - well – this is what BIAS does to traders – they see what they WANT to see, not what it IS   – time to make some money on the short side now.