Tuesday, August 19, 2014

Morning Charts 08/19/2014 SPX /es

Well, yesterday was wasted, and today will not be much better. I go for my stone blasting this morning. By the time the market opens I hope to be out and recovering at home. No guarantees, but I'm first on the docket at 7:30. I'll be on travel computer when I get home. I hope to be in the office later, but really not sure what to expect. I did not get to purchase a new work computer yesterday. I tried, but due to pre-op timing this will have to happen tomorrow or Wednesday. Of course SC does not have my chartbook up yet. Told you this would be an issue. Their service is terrible.

FOMC notes, Jackson Hole, Labor day, Halloween - (complete holiday list - LOL) any excuse possible to keep the HFT algos in line as they co-locate. We are close enough to start Labor Day ramp - Just look back at the 4th. I will have to check the technical setup to see if it will be as devastating as it was in July.

No news is good news, and #Ferguson has everyone distracted .Idiots I talk to are brainwashed by ATH. Questions I get on the street are totally ignorant and void of anything that could be construed as negative. A good example are the AFL fans here in Columbus (where AFL is HQ'd). Do they know about Japan's debt/gdp? No. Yen/USD issues? No. Fukushima issues? Nope. (think cancer insurance risk!) A plethora of other issues such as aging population, savings, trade deficits, qe4eva? Nope. Those issues cover Japan where 70% of their business is done and and enormous amount of cash sits in Yen not being repatriated. Shall we address the issues with supplemental (ie- you pay xtra) insurance in this economy? Paying more for insurance .... hmmmm that will go over really well with Ocare kicking in. Fantasyland folks, just keep those blinders on.

It appears we're now in the final sentiment stage. Not that long ago fear was the dominant tone. Now we are in that blow off bulltrap phase that gigs 'em all every time. Be my guest. The sooner the better. Looks to me that the STB bill/bear line has been dusted and that only means one thing - ATH baby. Barring an enormous news bite in the next two weeks this train should only go in one direction. There should be a really nasty double top divergence if we get there. Blown thru several of those haven't we. Enough to where I'm now numb to the setup.

I'll get my chartbook back sooner than later I hope. I miss it and I know a bunch of you do as well.

I'll get on as soon as I can in the morning to give updates on the procedure. Till then, thanks for being here and holding down the fort.

Almost forgot - My BP went thru the roof at pre-op yesterday when they started discussing the cost of my procedure - ready for this - what will be billed by the hospital in order to get a realistic settlement to cover cost? Ready for this? For me to have my stone blasted in an ESWL will cost $33,000. My BP went to 155 over something, not for the cost, but for facing the reality of how fucked up the system is. $33k. $33 friggin K. I was floored. I have read and heard stories, but experiencing it first hand was completely overwhelming.

More to come below.

Have a good day.

GL and GB!

No comments:

Post a Comment

Keep it civil and respectful to others.