I do still see the monthly chart as being bullish… on a technical basis. But, from a standpoint that the entire rally was manufactured by the PPT, with almost NO participation from the retail trader, it is just to dangerous for me to go long.
It is also too dangerous to go short, as you know that the PPT will step in a stop any natural correction from happening… even if the technical picture says “Sell”.
That's what makes it so hard too trade I guess? Everyone is too scared to go long or short. I'd love to go long… after a nice healthy correction. I think a lot of retail traders would jump on too, but no retail trader I know will buy at these levels. So, I guess the PPT and other crooked banksters can just continue to play ping pong with themselves.
Great rant. All of the lines in the sand, all of the timing, all have been blown away. It is obvious that the PPT wants to use our tax dollar to continue the “con” game….i.e. if their is confidence, all will be good. The ramp of pimp is sad. It will result in so much more pain down the road…as you say. When will this occur? 1 week, 3 months, 7 months?
I can agree with everything you wrote and still I am bullish. Why? Because long term and in the macro view you are right but to make money trading you have to trade what you see not what you think.
I think you are right……………….but I see a bull run and so I have to trade it.
Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.
Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…
You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.
When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.
Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.
Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…
You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.
When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.
I do still see the monthly chart as being bullish… on a technical basis. But, from a standpoint that the entire rally was manufactured by the PPT, with almost NO participation from the retail trader, it is just to dangerous for me to go long.
It is also too dangerous to go short, as you know that the PPT will step in a stop any natural correction from happening… even if the technical picture says “Sell”.
That's what makes it so hard too trade I guess? Everyone is too scared to go long or short. I'd love to go long… after a nice healthy correction. I think a lot of retail traders would jump on too, but no retail trader I know will buy at these levels. So, I guess the PPT and other crooked banksters can just continue to play ping pong with themselves.
Thanks for stopping by ol' buddy. It's great to hear from you. I stopped by your website… nice.
Great rant. All of the lines in the sand, all of the timing, all have been blown away. It is obvious that the PPT wants to use our tax dollar to continue the “con” game….i.e. if their is confidence, all will be good. The ramp of pimp is sad. It will result in so much more pain down the road…as you say. When will this occur? 1 week, 3 months, 7 months?
I can agree with everything you wrote and still I am bullish.
Why?
Because long term and in the macro view you are right but to make money trading you have to trade what you see not what you think.
I think you are right……………….but I see a bull run and so I have to trade it.
Great blog and awesome posts Red – keep up the good work!
Take care
Piet
Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.
Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…
You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.
When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.
Red
Well I think what would have made the market sell off hard would be outstanding job numbers, with the anticipation of the FED rising interest rates.
Another interesting thing I have noticed about their games, is like today, they ran up above the weekly person's pivot, and they made that support, how did they make it support, each time it came down they turned it on a dime at that spot. Got me thinking whats going on, anyways when they probed the above pivots and eventually launched it into the 30min opening range, is that they were weakening the resistance, when they came back down to consolidate and build orders, it was a big tip of the hand. Anyways in summary it looks like they break through a level then make it support and build orders, so if they gun higher resistance levels they have support if they fail, and they probe the levels they want to break as to slowly bring those orders out onto the market as to not cause any major disturbance to the game plan, then they trigger the stop run and off we go.
Yeah, that was also another good reason to sell off. But, light volume allowed them to keep the market up. It's almost as if they have told all the big institutions to “stay out of market” until ?…
You and I both know that if the big boys come back into this market, they will be selling! Look at the last 3 months or so, every large volume day was a DOWN day, not UP.
When volume returns, I believe it will be selling… not buying! But until then, they can control the market and keep it afloat with the late day buy programs.
Red