10 years…hard to believe

 

I will refrain from my usual pseudo – political mumbling this year and will just say

 

To all my friends who meaninglessly

lost their lives in the flames of WTC -

you are remembered, you are forever

in my heart...

 

Do people even remember that day?  DO they understand WHAT happened that day?

Did that day really “defined us as a nation”? (That is a usual cliché of main stream media)  As a nation capable to stand up and say “Stop diminish its own people!”?

Do “they” even care?

 

Sorry – I really tried to keep my mouth shut…

 

I’d like to finish this sad post wit Gold Gerb’s post from Disqus (Hope he would not mind)

 

 

Gold_Gerb 09/09/2011 05:17 PM

a few weeks ago, I was thinking about Sampson and the pillars.
Then I thought of the Towers.
"Judges 16:26-30 And Samson said to the young man who held him by the hand, “Let me feel the pillars on which the house rests, that I may lean against them.” 27 Now the house was full of men and women. All the lords of the Philistines were there, and on the roof there were about 3,000 men and women, who looked on while Samson entertained. 28 Then Samson called to the LORD and said, “O Lord GOD, please remember me and please strengthen me only this once, O God, that I may be avenged on the Philistines for my two eyes.” 29 And Samson grasped the two middle pillars on which the house rested, and he leaned his weight against them, his right hand on the one and his left hand on the other. 30 And Samson said, “Let me die with the Philistines.” Then he bowed with all his strength, and the house fell upon the lords and upon all the people who were in it. So the dead whom he killed at his death were more than those whom he had killed during his life."
Was the falling of the towers symbolic of the end of strong man? a strong nation?
Was America seduced as Sampson? to reveal it's source of strength?
and what was the source of that strength?
May that terrible day, not be in vain.
-GG

Old friend – megaphone lines

 

Watch that lower line (at the same time it is a big congestion area due to various reasons) – if it let go now – could be that “Pee on Tree” AKA P3 is not just a fairy tale.

 

Yes – that is a VERY OLD CHART

Green can’t buy you love

 

 

 

“Solyndra Inc., a maker of solar modules that received a $535 million loan guarantee from the U.S. Energy Department, suspended operations and plans to file for bankruptcy, saying it couldn’t compete with larger rivals.” [ Bloomberg ]

 

So much for GuberMint “Guarantee” and Pimpo-Rama by Obama – one more lesson that none should;d mess with economy ( Of course is is no longer “free economy” – has not been ever and even less last 30 years.  Don’t blame it all on Obama – he is just what Gorbachev was for former USSR – “all questions-no answers” – you know how it ended up for that country … it is NO MORE … No UNION, NO COMMON CURRENCY, NO COMMON LANGUAGE, just a lot of lonely scared people running around trying to make at least some living….

 

Crap … I could use those $535 millions!!! Well, MAY BE that money went to some private venture capital firm that was about to lose big? Could there be a fraction of the true in that unethical horrible assumption? No, can not be – corruption cannot be extended that high!!!

 

 

Now, on market related note – I am preparing to go short once again, we might be about to witness daily wave 2 down with normally could go almost as low as  low of wave 1 (and that is IF it is a beginning of 5 waves UP – I don’t care which way to trade – just like the speed of short trades more.)

I will wait to see at least count 8 of Sell Setup on daily = and will play by ear then.

 

 

Hourly reinforces that possible trade idea.

 

 

Looking for new beginning

Daily TDWave finally completed on August 5th 2011, fell off the cliff with TDSetup Sell 9 on August 9th and now dancing on TDST trying to bounce …trying … trying ….

I will let it dance without my money in it – for now.

 

 

weekly looks quite amazing – it might be the beginning of long awaited and ridiculed P3 – AKA – TDWave 5 down impulsive (then – and it fits – 3 wave up within wave 4 fit in the picture according to Garp… errr DeMark-ian woo-doo

 

OR

 

it might be a beginning of new bull market AKA wave 5 up, BUT… BUTBUTBUT…. – dream on – I think we are working off really oversold conditions (I don’t care about “oversold” standalone, but again – it fits the wave here ) and we will continue on our marry way down the slippery slope

 

And of course rumors of my death were greatly exaggerated – I just feel that countless efforts of the authors of this blog were mostly wasted or ridiculed by outsiders and human nature of blog visitors (most, but not all visitors – there is a core of old timers here who know that there is no better place to really talk about trade and sometime life – without 16 years old wonnabies running amok among us or 40 years old who want to be 16 )

 

But this is life and we are born and we die – that is applicable to blog too …. may be it would be better if I would be making up trades when there is none and posting pics of naked babes or orangutanishly looking grotesque of a man … Fabio-my-… you know… from “I can believe it is not butter … as well as anything edible – this stuff is made from real .. shit”

 

Just a lonely monthly chart

Even though we expected downside, more downside, but A/D ratio today was unheard of …1:30 ???

My prognosis was not quite correct – I joked on DISQUS this morning that “we might see 700 DOW down points day” … I was close without being serious … or was I?

 

Monthly chart proved to be a gem for longer term positioning and if you’ll look at it – you will see what I (AM AFRAID) SEE – …I have a question on my mind … could it be, is it possible, is there ANY chance that long ridiculed and laughed at any possibility of … P3 HAS STARTED???   Well – NOT quite “P3” as long departed (from the list of analysts calling for ANY respect whatsoever) Prechter called for, but as we, De-Markians call it – wave C – the last and most powerful CORRECTIVE wave of multi year bull market has started??? And if so – shall we embrace ourselves for 3 years of downside? Oh yeah … would not be the same scenario that was called for on this blog long ago – that it is almost total reminiscence of 1930th?

 

Ohhh…almost forgot – S&P futures are down another 30 points as I type – poor Joe Schmoe can get no break – I have never seen such a trusting people as here, in what is left of once great ‘ole USA.  “Tomorrow might have been a brighter day” – yes indeed – but not for everyone, only for those who bought villas in Paraguay.

 

I just hope that my worst fears will not materialize – history teaches that when ruling plutocracy is not capable of leading or at least, truthfully lying – extreme left/right might come to power … Hitler is one example

 

 

And now for something completely different - just a notch of “dark humor” -

Thanks to our unstoppable T’s resident expert Gold_Gerb (don’t forget to check his blog) here is some funny aspects of trading (funny when it is not you it is happening with – for more info read Jerome K. Jerome )

 

youtube removed that video, but here is the link at the different site

http://www.collegehumor.com/video/6477219/remix-e-trade-baby-loses-everything

 

 

 

 

UPDATE: 8/09/22PM

Was watching rinse and repeat a la Bear Stern funerals psychotic action … 700 down ….500 up…buy the dip…yada-yada-yada … sitting on hands and 100% cash and waiting for the next trading opportunity – no matter up or down …still thinking – DOWN….

“None saw it coming!” Huh???

Well, IF “THEY” say so…lets not to point fingers (is not that favorite phrase of idiots who caused the problem on the first place? “Lets not point fingers, but try to find solution to the problem…we created”)

 

WOW… feels like good ‘ole times, but easy on emotions – here are few charts

 

Firstly - SPX weekly – support located around 1050-1150 area and TDST conveniently located at 1090 area.

 

 

 

Daily – hit W3 target (wave down), but I don’t think it is w3 – I prefer to think of it as of wC of wave up.

 

and unless it will print lowest of 21 bars – I am not closing my short position (yeah, I know, I could have made way more, but any money made is better than money lost.

Beside, wC might be printed as soon as tomorrow – just watch jobs report – fear of it was a part of today’s sell off.

 

 

UPDATE 8:30sh PM EST

 

Look at the market breadth – was at extremes today – normally bounce after.

Also, little used, but helpful sometimes – TDSetup Buy 8.

 

88 weeks moving avg – forgot where I saw that it is important, but works quite well long term. (yellow arrow)

important support? Blue arrow (blue line)

 

In short I am trying to convince myself to close entire short position for now – I have “some” SPY Sep11 128 long puts that I bought on July 9th around $2 a piece – they closed $9.5 – will try to dump @$10 tomorrow morning or will put stop…but I never really trusted stops and back in May 2009 market proved me right by totally ignoring my stops and executing my orders where I would never ever touch them … mostly because I would be in the hospital with heart attack by then – which would be a good thing on a day of flash crash…Dave – stop looking back!!!

Quick Position Update

Eased up my short positions midday today based on completed TDSequential Countdown Buy (Yesterday) and started midday turnaround (looks like hammer at the bottom)
Will be watching 1265 area to re-open short positions or if 1300 area will act as resistance.  Otherwise will be really careful with shorts now – could be one big bull flag (Not that I believe in market, but I am a victim to inflation )
Some might want to go long, but not me, not here, not now.





UPDATE: Aug 4th noon
 Unable to post on DISGUST, but the answer I'd like to know:
"Will this http://mam.econoday.com/byshoweventfull.asp?fid=446890&cust=mam&year=2011#top be the final blow to "FICTITIOUS RECOVERY"?

“Lehman Handshake”

 

Few days ago while attempting to negotiate ownership of property in Costa Rica I have met and old friend of mine, one of those who you might not see for 10 years, but when you need his help or advise he does it like he saw you just yesterday and you are still his good if not the only friend.

He took a lot of beating and made a lot of money, ( I have never made it to his level - he was in Victor Niederhoffer’s gang before Vic imploded back in Asian Currency crisis times)

 

So, that son of a bitch, sees me and all of a sudden he grabs my tie and looks on the back of it … damn – was I glad it was Burberry! 

That always reminded me dog sniffing thing or juvenile “mine is bigger” contest, I was never fond of it even back in “ole days”, and was simply shocked that it is still alive and well now.

 

Well, I guess Wall St is still doing well and may be even this Christmas we will see Bugatti and Ferrari dealers driving to the old spots in downtown… some things never change … until deluded by “I can make it big too” American Peasants will realize that “American Dream” can be seeing only while asleep and may be, just may be, they will wake up from lethargic zombie like “tomorrow might have been a better day” state and will take what was taken from them … no wonder education suck – we don’t want Peasants to think – do we?   And all they have to do is just VOTE crooks OUT! (Not that I believe it might actually work :)

 

 

Well, time for me to stop being incredible usual bore and present your with incredible boring chart. (Disclaimer – even though I am inclined to trade on the short side now – I do NOT discount possibility of yet another higher high – in order for monthly to print at least #12 on countdown – then things might get REALLY interesting). So far – patience is a virtue (I’ll be damned – me and “patience”? How did THAT happen???)

 

Congratu-freaking-lations !

Now you can live rent free for A YEAR – don’t you worry – I’ll be paying your bills – my taxes just went up…

Announced Thursday, the loans backed by the The Federal Housing Administration or HUD developed in 1934, will necessitate to give 12 months of leniency.  Previous, the people with these loans could only qualify for a minimum of 4 months.

Also included are Home Affordable Modification Programs.

THIS is far exceeding anything I thought was possible in “non-totalitarian” society, things like that would not have been possible even in my home country … good ‘ole USSR … not after Stalin’s death at least(as oppose to good ‘ole USsA )

Well, some people saw it coming – that is why they voted

 

 

 

 

P.S. As I stated on Disqus I went short based on this

 

The end of 4th of July barbeque party

Well, some vicious people still call it “Independence Day”, but that is a true baloney – we depend on everyone everywhere and we are taxed to death without representation – well, I stand corrected – Corporations ARE represented quite well, and Gubermint does not care who and where makes them money … China, Russia, India…what else would you expect if there is not even NATIONAL LANGUAGE!

So let enjoy our hormone infected meat until our stomachs explode from fat – you can only keep Rome happy if you provide:

            “BREAD AND ENTERTAINMENT”

Although bread is getting quite pricey and quite soon masses will not be able to afford it…watch out then!

 

Back to charting woo-doo

 

My prognostication is playing out so far, wave B is raising its ugly head, watch out for 1345 area on SPX – if it reverses there – I will be short “all in” (Brave – not stupid – stops in place always… almost)