Saturday, June 15, 2024

Worthless Dollar…

worthless-dollar

Well, the dollar got pounded Sunday night,  and market gaped up big when the market opened Monday morning.  I missed this opportunity to profit on this move up, as I didn't get into a long position on Friday.  It seems that the market makers don't want to give us little guys a chance to profit, so they gap it open causing us to miss the big move.  Of course they would like us to jump on board and chase the tape up, but I'm not falling for that old trick.

Tomorrow should be a pause day, but anything can happen... so I'm setting on the sidelines.  Since today put in a double top, that kills the head and shoulder formation.  So, the next target up is around 112.30-112.50 spy.  Notice that where the market gaped open is about where the market closed today.  Just pennies in difference.

The only way to play the tape today was to day trade it.  It's not for a swing trader like me.  So, I'm now just going to sit and wait for the 112.30-112.50 level to be hit, or for Friday to come.  I do believe that they will take it higher to hit that target.

It's the 50% fib level from the 2007 high to the March, 2009 low.  This is the perfect time, as the market will be light on volume all week, as traders go on vacation.  Everything is looking good for the bulls right now.  We all know that the government has been manipulating this market in a HUGE way since the March low this year.  What do they want... to trick the average Joe into buying into this recovery, by giving a false impression that the economy is now good.  Of course they use the stock market rally as an indicator to lure in more suckers.

Moving on to another reason to push a little higher...

Looking back at previous news releases, I remember that every time an event was released early... it was good.  And, everytime they delayed the news release... it was bad.  Since this Thursday is Thanksgiving, and the news scheduled out for release on that day is the "Jobs Number"... when would you release it if it was really bad?

Friday of course.  It's a half day, which means really light volume as all the traders are already gone for the holiday.  So, if it was really... really bad news, you could easily support any selling with the money the PPT gets from the government to buy up the market with.  Then, the traders would have too wait until Monday to do anymore selling, which would give the government something to spin as positive on Monday to keep the selling from happening on a bigger scale.  Many times a rally could even be produced, as they could buy up the market before the open when only the furures are trading... which is lighter volume and easier to manipulate.

But... that's not what's happening!  No, No... they are moving all the news scheduled for Thursday to Wednesday this week.  Now, what does that mean, or imply?  Well, if I was going to release the news on a day that still has a lot of traders in the pits, and it's a full day, not a half day... I would only do it if it's good news.  That way the traders would react and buy up the market on basically the last trading day before the weekend.

That means that it would be the following Monday before all the traders come back, and normal volume returns.  Since many of them will take Monday off too, that means that Tuesday December 1st would probably the first big day back with real volume in the market.

That's a perfect way to close the month of November out positive... in a big way.  Of course this is all just speculation on my part, as I try to think like they do.  It's tough for me to do, as I am a real honest person, so thinking like a dirty rotten scoundrel is not in my nature.  But, sometimes you have to waller around in the mud to think like a pig... and believe me, those government thugs are pigs!

pig-man

Anyway, just like I said in my weekend post, I think we will go sideways to up this week, then down next week.  I'm waiting patiently for that magic number to be hit... or just for the week to be over.  If 112.30-112.50 is hit this Wednesday, or Friday... whenever basically, I will be going short!

Red

Red
Author: Red

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