It good to get fired up from time to time! After all, how else are you going to get everyone to wake up and smell the bulls**t coming from WallStreet and Washington D.C.?
“They” and/or the Elliott wave and crowd emotion jacked up this market to between 50% and 61%. Funny how Bernanke was pimping out the market the last 2 days. When was the last time we heard “the problem is contained, there will be little spillover”…hmmm housing market, sure glad that didn't hurt the economy or wallstreet. But the joke is the Bernanke conditioned his comment that Europe would not spill over into America as long as Wallstreet was OK. Huh? Blatant manipulation and lies. Wallstreet and the economy are hardly attached, but fundamentals drive Wallstreet rather than the other way around. Bernanke implied that it was the other way around, that Wallstreet could save Mainstreet. Before growth can occur we need at least 2 things—a reasonable level to grow from, and ATTITUDE change.
UPDATE This ramp put one of my accounts into a futures margin call. They were screaming…send us money TODAY or we will liquidate you. Yeah, we will see how that pans out–if may need to transfer money over to Interactive Brokers even though their trading platform is not as user friendly. TOS is now Ameritrade (really the transfer just happened weeks ago, amazing timing, but they can no longer be trusted–they are the establishment of financial entitlement.) They didn't liquidate my positions, and I didn't send them money, and the accounts bounced back nicely. I also didn't get stopped out, but a maybe 3 points over that 61 Fib they would have probably got my “uncle cry”.
That HBB sure got game, but they don't get up early enough in the morning and they go to sleep too quick on the way to the Hamptons. They won't do well when the spell of entitlement and connectedness get wiped off their silly Hummer driving faces by the reality that is coming. whew—-a rant.
I think we are going to gap down tomorrow on bad jobs data, so we can get past that 1040 support level. If it's not the jobs data, then it will be some other news event. Things are going to get ugly from here I believe.
It is most likely to be Monday morning, but what I've found with puts is that prices can actually be better before the actual bottom is reached, because of the uncertainty.
I like it Steveo…
It good to get fired up from time to time! After all, how else are you going to get everyone to wake up and smell the bulls**t coming from WallStreet and Washington D.C.?
Ramp of Pimp(see update at bottom)
http://oahutrading.blogspot.com/
“They” and/or the Elliott wave and crowd emotion jacked up this market to between 50% and 61%. Funny how Bernanke was pimping out the market the last 2 days. When was the last time we heard “the problem is contained, there will be little spillover”…hmmm housing market, sure glad that didn't hurt the economy or wallstreet. But the joke is the Bernanke conditioned his comment that Europe would not spill over into America as long as Wallstreet was OK. Huh? Blatant manipulation and lies. Wallstreet and the economy are hardly attached, but fundamentals drive Wallstreet rather than the other way around. Bernanke implied that it was the other way around, that Wallstreet could save Mainstreet. Before growth can occur we need at least 2 things—a reasonable level to grow from, and ATTITUDE change.
UPDATE
This ramp put one of my accounts into a futures margin call. They were screaming…send us money TODAY or we will liquidate you. Yeah, we will see how that pans out–if may need to transfer money over to Interactive Brokers even though their trading platform is not as user friendly. TOS is now Ameritrade (really the transfer just happened weeks ago, amazing timing, but they can no longer be trusted–they are the establishment of financial entitlement.) They didn't liquidate my positions, and I didn't send them money, and the accounts bounced back nicely. I also didn't get stopped out, but a maybe 3 points over that 61 Fib they would have probably got my “uncle cry”.
That HBB sure got game, but they don't get up early enough in the morning and they go to sleep too quick on the way to the Hamptons. They won't do well when the spell of entitlement and connectedness get wiped off their silly Hummer driving faces by the reality that is coming. whew—-a rant.
I think we are going to gap down tomorrow on bad jobs data, so we can get past that 1040 support level. If it's not the jobs data, then it will be some other news event. Things are going to get ugly from here I believe.
Yes, it's great, missed you over at HOB today red it was a lot of fun.
1052.60 here we come.
good point thanks. but i think it will come tomorrow anyway.
It is most likely to be Monday morning, but what I've found with puts is that prices can actually be better before the actual bottom is reached, because of the uncertainty.
make sure its extra well done, otherwise it may haunt us again
Yes, finding short term bottom, before the rally into next week… will be tough. But, I think I'll spot it when we get there.
Negotiating the bottom will be tricky.
I have left gobs of money on the table a few times through this whole process, including yesterday.