Thursday, May 06, 2010

Tell Mr. President to STOP SHELL GAME – it might not be too late…still.

 

Write to The White House ( http://www.whitehouse.gov/contact ) – tell corrupt incompetent politicians that

 

TIME

IS

NOW

 

To stop Wall Street's innovations which produce nothing but misery for everyone, to put an end to this outrageous shell game before bankers destroyed everyone without even launching nukes (which, by the way controlled by "computer innovations" as well).

 

Too much is at stake to let algo trading to continue and exaggerate selloff which is due, but it should not be a catastrophe like happened today!  People never learn until one day it is too late – have not learned after 1987 "Portfolio Insurance" computer games inflicted crash.

 

WHY? Because tomorrow or one day we all will not wake up because computers decided to start all out nuclear war – take the power away from machines!

 

Oh, and BTW – tell them to put Bernanke, Greenspan and their bankers buddies in jail and throw away the keys.

 

2010-05-06_1748

2010-05-06_1747

 

 

Now, some clarification is in order – below what I wrote yesterday:

 

Newly formed w-4 already retraced almost 50% of w-3 (w-2 retraced 38% - "shallow"), so the very best we can expect from w-4 is …nothing more OR The VERY VERY BEST 62%+ could put SPY in the 114-115 range. (But bounce to 117 first is more likely)

 

What happened today? SPY DID go up to 117 first – precisely, then it started to go down and we all know what happened next – and we all know that it can be called BS.

just like program trading brought market down within few minutes, just the same way same f..ng computers brought market back up to close on SPY at 112.88 (which is NOT that far away from 114-115 lower ballpark range I thought of yesterday)

 

And guess what? Based on CLOSING PRICE 30 minutes wave did NOT change – we are still in w-4 as of today's close.

 

2010-05-06_1922

 

Now – I took a hit today, big hit, Thinkorswim locked on me completely, my puts options orders (surprise) were executed at the worst possible prices, my long SP500 futures (/ES) trade was liquidated due to INTRADAY 50% margin raise (should I hold till close – I would have made very nice profit instead of hard to swallow loss.

 

So, obviously I am REALLY pissed off right now – my portfolio is 20% down in one day (I have to blame only myself – I was suppose to take few days off after my EUR trade…"the road to hell is paved with good intentions".)

 

What will I do?  I might look for a different broker, but I can see based on a lot of talk that no broker was immune today.

But one thing for sure – I am taking break from trading, I have to figure out if I am getting too old for this sh.t or there is something else interfering with my trading methods.  Posting will continue, but my "disclaimer" now is this:

 

I AM ON CASH.  I AM NOT TAKING ANY TRADES UNTILL MY SPIRIT IS RESTORED ENOUGH TO GET BACK TO TRADING.  POSTING MIGHT CONTINUE.

 

Feel free to throw stone at me…

 

P.S. I am sitting here watching dead guy shouting in my face some crap about some crappy garden auto auger (what WAS his name? Billy Something?) and CNBC's ticker first time in years (I turned news off long ago, especially CN.BS) – familiar ticker symbols scrolling in from of my aging eyes, I know at least 1 out of 5 of those tickers…time changes…I am getting too old for this computer game.

MATRIX has me

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