Monday, March 22, 2010

…sad weekend indeed

wallpaper_skan_srisuwan_01 By Steveo77 of Hawaii Trading Yesterday 07:29 PM

Evil Speculator (run by Molecool) is closing down.
This is a sad weekend indeed. Although Mole has been accused of having thin skin, he had market perspectives and charts that no one else had. I never got to try his subscription services, and he says these will remain open.
I was honored to be a moderator on the Evil Speculator site.

I immediately thought....this market has worn people down. The "worst tape" in history. I remember that after the Tech crash I had made some money on the way up, and kept some by selling off. But I also just left the market completely. Not paying any mind, and not even knowing that a bottom happened a few years later. The market had wore me down. I had distrust for the market.
All of the signs the last year of "this is the top" did not pan out. Lots of lines in the sand were crushed. Horrific fundamentals did nothing to slow the "Ramp of Pimp".
So here we are again.
* It's the spring equinox.
* A disastrous health care plan is about to pass.
* Greek debt is a pre-cursor of other debt defaults to come.
* Dubai is out of the new entirely, and they won't matter "until they do matter". Their stated burn rate of cash should place them back at the beggar's table around now.
* The Fear Factor is perhaps showing a blow off top.
* The Chart of Charts is showing one of the longest uninterrupted bull runs, and just Friday flipped a little bearish.
* EWI is second guessing themselves, and their following subs would have been stopped out of their Full Tilt Bear positions.
* The Euro is perched on tanking.
* Quad Witching week just ended.
And Molecool is shutting down his blog. What is interesting is when you have "skin in the game", i.e. you are human, you are influenced by that no matter how objective your observations are.
And finally, steveo (me) called the top, last Tuesday


By Steveo77 of Hawaii Trading Yesterday 07:29 PM

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