Rinse and repeat?

 

Went long /GC @1266 today at the lower trendline – HARD stop at today’s low (I believe gold will go to around 1100 – no need to be a hero on the long side)

 

 

 

Update on positions:

stopped out from /CL long (small position really) with slightly over a buck profit.

Watching carefully my long Oct 22nd /DX – hitting 100MA

Fooled by randomness

"While in theory randomness is an intrinsic property, in practice, randomness is incomplete information." – Taleb

“It has been more profitable for us to bind together in the wrong direction than to be alone in the right one.”
― Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

 

 

“When you develop your opinions on the basis of weak evidence, you will have difficulty interpreting subsequent information that contradicts these opinions, even if this new information is obviously more accurate.”
― Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

 

 

Now that you are fully saturated by unconventional wisdom – charts mumbo-jumbo time

 

Short term – time to be bearish – for as long as top blue line is not penetrated to the upside (which will, in plain English spell - “bears – run for your life”) that magically is in the area of 1(777) – don’t you just love these weird numerological coincidences … bottom at 666 … top at  … ?

 

 

 

30 minutes chart shows that bounce started off 9 setup buy (don’t you just love when buy setups work like a fine tuned watch and sell setups just getting ignored … hate trends!)  and now SPX is at TDST. Could there be that Monday will be as unexpected for bulls as Friday was for most bears?

 

I will elaborate on my “it is starting to remind 1980” point of view in few days – I need it to sink into my head first..

Just a thought

The more I think about SPX in historical perspective, the more, for some reason, even though charts do not rhyme, I think 1980. If it holds water – I will be using any pullbacks to close short positions and will be putting on a “difficult trade” – long into Jan 2014 …

I am still thinking …

One thing I do know for certain – I am in doubts … and when in doubts we need to get out because it is the only way to clear the head and see things the way they are.

Not a time for the victory dance … yet

 

SPX broke down quite where it should, if not my impatience ( as always too early for no reason, none at all) and most likely next down target is 1690-1700 areas for SPX and /ES

 

Mighty dolla [speaking with Chinese waiter voice] consolidated right at multiple TDSTs and in spite of TDSetup SEll 9 in place – ready to go to 82+ area

 

Now – lets have some fun, may be just a little – shall we?

 

Dim Twitted Nation

As(s) we eagerly await the “greatest tech IPO of all times” that forever changed how idiots who are not capable of putting together phrase of more than 140 characters communicate I’d like to note that November 7th ( or 25th of October 1917 by the Julian or Old Style calendar ) is a sad date in history – the date when lower 99% of the country who have been mixed with dirt for years without any prospects for decent life (unwillingness to work for that is a different story even if there was work to be done for money) finally revolted and blood was shed-a lot of blood indeed. That who was nothing became everything… and then history repeated – it took slightly over 70 years, but nothing became nothing again and the biggest thieves in history of the world became magnates … Rothschilds, Carnegies, Kennedys … wait – that was in the different country … but it is all the same anyhow – the one who has not gotten caught is at the top of the world … until those who are nothing and have nothing to lose will kill them and temporary become everything … and… rinse and repeat

 

 

Will the IPO of this moronic invention mark the top of the market? The future will tell. What I can say – DOW printed TDSetupSell 9 today and the fact that when index of 30 biggest stocks composing Dow Jones Once Industrial Average did not explode in historic short covering concerns me deeply … may be not – it would concern me if I was long this market. No matter how “frustrating” it is I would better be bleeding my money on the short side than be caught by surprise having long positions.

 

Tomorrow will be the day when retail crowd that did not get into FartBook will be paying up for the company logo of which says “F me”….good luck with that folks!

 

Here comes the doorman syndrome #N (those unfamiliar with “doorman syndrome”  look here )

Bears need to break blue line!

DJ Transports – TDSetup Sell 9

On 2 days interval – perfect short entry right under TDRL

 

GO LONG CRUDE OIL? (/CL)

My first target is 104, then (IF … stay tuned ) 108

Perfect buy point around 93

 

Full speed ahead - Down to 100MA

DO note – since chart is 2 days interval – that MA on the chart IS 100MA

If not now then … never? LOL

Two charts – as you can see on weekly SPY rose 200% of wave 3

and the same on daily – quite coincidental to call it coincidence? Staying put at least till Monday.

 

 

 

I’ll be damned – same chart – two weeks interval – we are right at the wave 3 target!