Thursday, July 30, 2009

Another Breakout? (A Mini Rant)

What the fuck, just invite everyone to the party. Who gives a fucking shit about unemployment, debt, bubbles or anything for that matter. It is a fucking party and we're all tripping on the Fed's shit. Whoooo hoooo! We got thru the trouble stage and it as all fucking goody goody now. I got news for you bastards trippin on the green shoot shit. It is a fucking drug and drugs are bad (umm hmmm). Drugs lead to lies and stealing and other criminal acts that will lead your happy little fucked up ass to jail or in this case to the eventual "bad trip".

This fucker is gonna turn and goody goody is gonna become some really fucked up trip you never wish you were on. Fuck this blue pill red pill shit that our possibly Kenyan born definitely teleprompter reliant nicotine addicted leader keeps shoving down your throat. They are both bad. Leave it to "this" leader to begin the "drug" analogies for us to become addicted to - ROF LMAO. Get used to the ramp up hand job that the hookers in Washington are giving out for free (well, not really for free - you see you and the next 5 generations of Americans are paying for these so called moments of joy - that is if there will be any more generations of "Americans").

Fuck this shit. Here are some meaningless bullshit charts that you can look at. Guess fucking what? They are headed up. Surprise! It is another breakout on the news that we only lost another 500k plus jobs this time and GS's UPGRADE of GE. Glad things are improving aren't you. Thank fucking goodness that we're bottoming out.

More to come later if you care to stop back by. I'm pissed.

Three daily SPX charts showing a top trendline being VIOLATED. Ohh, ouch, ohhh that feels so good. Will the violation continue? Don't know. I hope the fed auctions fail miserably and we can't support this bullshit bubble reflation so we can get this fucking depression over sooner than later. I'm on record for a near term pullback to reset the bottom wedge line and then (surprise) further manipulation to drive the markets higher.

2 year daily SPX - Note red top trendline (My target at this time is the blue top trendline in October).



6 month daily SPX - Note the black wedge with the B-D line now acting as the top trendline for the markets rise. I am guessing this next pullback will reset the lower wedge line slightly lower.



60m SPX close up - See the breakout of the top trendline? The brown box is the fib retracement zone. I'll get more in depth later on this move. want to see what the reaction is to the auctions this week and what GDP has in store for us. I have speculated that this is 3 of C of P2 up, but have not bought that move yet. More to come later.

GL trading!

5 comments:

  1. shank

    You always had seemed to be bearish,
    but now calling for spx of ~1200 ?!

    THATS ANOTHER 20% RUN FROM TODAYS HIGH !


    Note: I noticed that nasdaq 3yr wkly and daily
    at resistance.
    I would post link but unable to on this site.

    Uszly

    ReplyDelete
  2. I am permabear. I believe in the inevitable, but not till this BS has run its course. They have the market by the balls and will not let go. 1050 to 1121 is my call but not ruling out the full 61% retrace of the "whole fall" at the 1243 level. Hell, I'm not ruling out a complete collapse at any minute either. All it will take is for China to pull the rug out and boom. This post's intention was to show the breakout. It is lacking in the normal level of commentary and TA I provide - sorry. I want us and fully expected us to turn here (and a few other places on the way up) based on the indicators. I'm watching the monthlys now (see my monthly chart or the "we better turn soon" post. Those trendlines on the indicators better hold or 1200+ will be a reality. One that belongs in Ripley's if you ask me.

    ReplyDelete
  3. "This post's intention was to show the breakout"

    Just be aware of false breakouts.
    They like to do that a lot.
    Claim a breakout to sucker more in, then BAM !

    I have been using charts for ~8yrs now,
    when I started it was easy making money with charts.
    But the mrkt especially the past couple yrs,
    has used the charts against the traders like myself.
    In fact they use the charts against us,
    and they also use elliot wave theory against us.
    Just about every trader these days use charts
    and elliot wave theory, and the mrkt knows it,
    and uses it against us now.

    uszly

    ReplyDelete
  4. I don't get what you mean by using charts against us?
    Bears thought we would go straight down from 1555 to 300 on the S&P. And when that didn't ahppen, they started to cry that ohhhhhhhhh what's happening with this rally.

    Well folks, this is secular bear market, and they will be many rallies of which one of them we are in right now.
    It will end eventually, when, who knows.

    ReplyDelete
  5. Cramer's 2007 calls.
    http://www.youtube.com/watch?v=uTOUxS0Vj9Q&feature=channel

    ReplyDelete

Keep it civil and respectful to others.