Archive for December, 2009

Seems like another Dashavoo moment to me.  Wasn’t we here just yesterday?  Yes, we were… only 2 cents higher today!  Sometimes I think I’m living in the matrix, and evil computers are controlling the world.  Yesterday we hit 112.99 SPY, and today it was 113.01… wow, the market is really rallying now!  Someone wake me up when the nightmare is over.

I know it may seem like I’m a little crazy sometimes, and I probably am!  After all, I don’t drink anymore, (I need to start back though), don’t smoke, don’t do drugs, don’t watch Jerry Springer, American Idol, the latest reality show, or any news programs on TV… so I guess I’m not normal am I?

That’s because I woke up, and realized that the secret group of corrupt banksters, thugs, and hitler reincarnations (Obama) are ruling the world now.  It won’t be long before this blog, and millions of others are shutdown due to a “National Emergency”!  What am I talking about you ask?  Only the new bill (Link Here - google it for more websites) that Obama want’s passed that allows him to “SHUTDOWN” the internet whenever he damn well pleases!

All Hail Obama, the new American Dictator!  Folks, if you don’t think this economy is 100% controlled by these thugs, you are sleeping in wonder wonder land!  As long as the printing press is going (forever) they have full control of the market…. (and soon be our only “freedom of speak” left too).  It will go down whenever they decide to rob the bulls, as the bears are already broke!

Everything in this market is well planned out.  All the bad news is released during light volume days… especially during the holiday’s.  Did you know that they released the news about removing the cap on supporting Fannie Mae on Christmas Eve?  (And let’s not forget about how they released the Dubai news at Thanksgiving).  This whole economic collapse, which was centered around the mortgage bubble, was supposedly saved by the bailouts of not only the crooked banksters, but also Fannie Mae and Freddie Mac.

Remember, they moved all those toxic assets off the banksters books and onto the governments books through Fannie and Freddie.  Initially they set a limit or cap as to how much money would be given to support those firms, but now they lifted the cap… when no one was watching of course.

That means that they can put in a Trillion Dollars if they want too, not just Billions!  Those assets are truly toxic, and I highly doubt if they are even worth 30 cents on the dollar.  This is basically saying that “the economic isn’t really recovering” as they have been telling us how it has been for months now.  Believe me, if that news was realized during normal volume trading days, a sell off would have happen.

But again, the crooks pump up the bad news they can spin as positive, and sweep the bad news they can’t… under the radar!  There is NO really good news in the market.  Any company or economic report that “beats estimates” is worthless, as they all based that on last years’ numbers… which was horrible!  How hard is it to beat the worst numbers in decades?

Yeah… I know, I’m bitching!  Well, it’s my blog, and I can call a spade a spade… or a crook a crook if I want too!  Look, I’ve always known that this is just a big casino, and that the odds are in favor of the house… which I’m OK with.  But when “the house” knows every card in your hand, it’s crooked… and that’s exactly what they know!

Technical Analysis’s, Elliottwave, Fibonacci Level, and Astrology are all that we traders have too use to give us a fair chance of winning in this card game called “The Market”.  They have changed the way any of those methods work… which is cheating, or looking at my cards.

It’s like having a winning hand and the dealer folding, not allowing you to raise the bet and win back some of your losses.  (aka… releasing bad news when the markets are closed and you didn’t get a chance to go short).  And then pulling an Ace out from under the deck when you are chatting with the person beside you (aka… releasing bad news when no one is watching, which allows them to buy back any sell off… killing any short position profits you may have gotten).

I’m glad I’m still in cash right now, as these last few weeks have be nothing short of a living nightmare.  It seems almost impossible for a swing trader to make any money in this market, which is why I’m looking for individual stocks to play, that hopefully they don’t have too much interest in manipulating.  Anyway, I guess I’ve bitched enough for one day.  I look forward to another Ground Hog day tomorrow too!

Oh, one more thing… just a wild thought!  Do you think this Thursday would be a great day to release really bad jobs numbers, as every trader is gone for the holiday’s?  Another bad report swept under the rug…

Red

We are now at a dangerous point, as we managed to close at 1126 spx last week… which is at the 50% fib level from the 2007 high to the March, 2009 low.  But for now, I suspect that the light volume during this holiday season will continue to allow the market to move up higher or just sideways.  Therefore, I don’t see much change next week, as we are still in a “holiday season” until next year.

Now, that doesn’t mean that we can’t pull back a little next week, (Monday would be the most likely day) and then rally into the new year (just no trend worth playing yet).  Maybe a one day correction to fill the gap around 1103 (at the most)?  I can’t take anything serious until the volume comes back into the market.  The spx can be controlled easily through the dollar, financials or commodities.  Forecasting it now is useless, as any technical weakness will be bought by up.

Of course any major political event could cause a big drop for a few days, but who knows when something bad like that can happen?  Only those that are in power can know that.  Let’s hope that they don’t do anything stupid, as I certainly don’t want a major war to break out somewhere again.

Moving on…

The dollar looks like it is back testing the moving averages and support lines, before another move higher will occur.  That lends support to a bullish scenario for the market next week.  Couple that will extremely light volume, and that should stop and serious sell off.

Personally, I’m staying out of the market until next year.  I do see a big move coming, but I’m not jumping the gun just yet.  Everyday brings new challenges, and opportunities… at least for some players.  I’m waiting until I see something that has better odds of success.

Red