Man, what a cheap thrill with that pop & drop the last 2 hours. The stock market is just a big playground where the rich play with everyone else’s money. Or maybe one of Madman Ben’s interns said, “What does the PUMP button do?”
New video update should be up within an hour gang. Sorry for the delay, these HD video’s take much longer to process, and then upload. All in all, I’m still looking for a bounce, but I think it will be sold and we’ll continue selling into Thursday and Friday.
Today was step 3 down the ladder. Looking for a possible countertrend rally after this AM’s print is hit. A real rally doesn’t have an immediate retracement like this. Total BS sham. This fat bloated pig is going down. I’m somewhat short now, I’ll be even shorter on any rallies.
I’m not overthinking it. I am keeping some dry powder in case that happens, but I don’t want to game this too much. I am pretty sure I know where they’re taking it, so I’ll just wait for that moment and exit then.
My biggest problem in the past was not trusting the levels and then seeing them taken with me on the sidelines! No more!
I can’t see them continuing straight down without a bear squeeze… which I think starts tomorrow. As to when it tops… I can’t answer that one, but with Friday being opx I don’t see them letting the bears cash out on all those puts. Maybe we only have a one day bounce tomorrow to squeeze them out… and then resume the selling into Friday? It’s another possibility…
The dollar is getting killed now gang… remember the FP of 21.25 on the UUP.
ES Resistance levels: http://niftychartsandpatterns.blogspot.com/2011/07/es-resistance-levels.html
Refresh page for new video update…
Man, what a cheap thrill with that pop & drop the last 2 hours. The stock market is just a big playground where the rich play with everyone else’s money. Or maybe one of Madman Ben’s interns said, “What does the PUMP button do?”
New video update should be up within an hour gang. Sorry for the delay, these HD video’s take much longer to process, and then upload. All in all, I’m still looking for a bounce, but I think it will be sold and we’ll continue selling into Thursday and Friday.
Today was step 3 down the ladder. Looking for a possible countertrend rally after this AM’s print is hit. A real rally doesn’t have an immediate retracement like this. Total BS sham. This fat bloated pig is going down. I’m somewhat short now, I’ll be even shorter on any rallies.
I’m not overthinking it. I am keeping some dry powder in case that happens, but I don’t want to game this too much. I am pretty sure I know where they’re taking it, so I’ll just wait for that moment and exit then.
My biggest problem in the past was not trusting the levels and then seeing them taken with me on the sidelines! No more!
Red Dragon Leo
S&P 500 Analysis after closing bell: http://stk.ly/q2PhRA
I can’t see them continuing straight down without a bear squeeze… which I think starts tomorrow. As to when it tops… I can’t answer that one, but with Friday being opx I don’t see them letting the bears cash out on all those puts. Maybe we only have a one day bounce tomorrow to squeeze them out… and then resume the selling into Friday? It’s another possibility…