Friday, October 30, 2009

Trick or Treat

SPX managed to send 100% of the gains from yesterday to the graveyard- and it seems like we've got some fairly good swing trading price action from day to day building up to something. What that "something" is remains to be seen, but I have a hunch today will give us more clarity. For now, it's as clear as mud, but we're at end of month and for many funds- end of fiscal year today, so perhaps we'll see them release the monster and scare this tape down, once and for all.... let's just hope it's not another trick.

We have a pattern worth watching today on UUP that could very well turn out to be a nice little treat for those who are short. I know we have quite a few traders who swing the metals and miners, and GLD is at another critical point at the trend line today...


[voice from the basement]

Hi gang, DDT here, would like to say few things before going quietly into the night of the hospital.

1. Keirsten did it again! At 11:07 she did yet another “it is so boring today” post and market plunged right the moment she pressed “publish” button.

2. Glad I held through yesterday’s mayhem – I would have no chance to reload today and I would feel extremely violated should I missed this move.

3. Next TDST support daily SPY 102 area, today marker might attempt to make it back to 105 to kiss it long time good night. (Looks like while I was typing it just did its best)

4. Comments count is unacceptably low today – and it is very good, it tells me that some people make money and don’t want to talk about it (if we’ll know where your money is – we will come and get it, right?) or at least not losing any money today (happens when that was done yesterday)

5. I was told I need to get hooked up to some “respiratory machine” and was assured that my stay will not be long and that is the way I like it – pull the plug and go with honor.

See you all on another side (did I say something wrong ….again???)

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