Here is the Emini chart. My trendlines have been kickin it for weeks now. They are dead nuts on.
All I have to say is the yellow wedge looks complete. What do you think? Guess what - it most likely is not. LOL, that's funny (not). The daily indicators say you need to have your head checked if you are short. They were rolling over this am and whipped right up into a frenzy. Simply amazing. 20% unemployment, wage devaluation, no credit at all, the dollar is getting pummelled and the market just keeps on trucking. I mean they are ripping us off right in front of our faces and we are to stupid to give a shit. Mind boggling stuff. All is fair in love war and business.
Buy the dips and sell the rips is the only way now. Screw logic and any other theories of "it must fall". This market has proven it "must" not do anything but go up.
C ya in the AM.
No open positions - I WILL at the end of the great fall put ALL my money in GS and walk away. Safest place on earth for your $$ right there.
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ReplyDeleteIgnore the anonymous poster---your blog is great and is appreciated by many, that I am sure of.
ReplyDeleteAs to your rant----totally understandable. The problem that so many traders are encountering now is that fundamentals and technicals do not work in an environment where the government is deliberately destroying the dollar to "redistribute" the nations wealth. The times we live in are unprecedented; combine that with HAL 2000 at Government Sachs, a corrupt treasury, a corrupt Federal Reserve, a White House administration beholden to the unions, socialism, and a ideology rooted in facism, and frankly, betting one way or the other is nothing more than flipping a coin.
In hindsight we will be able to look back and say "I should have done this, I should have done that", but the fact is what this country is facing is a confluence of events never before seen. Yes, history repeats itself, and the Elliott Wavers will hold on to that until every dime of their money is gone----it will repeat, and the predictions of a total U.S. collapse are getting more and more likely every day---but it won't happen next week, or next month.
This market will trade much higher as long as the government continues to deliberately destroy the dollar---that you can be sure of. What you cannot be sure of is when the ponzi scheme ends, and for that reason, investors should be looking for real assets----like guns, gold, food, etc. Inflation is coming, and so is widespread unrest.
At any rate---you are good ananlyst Shanky----this just isn't a very good time to be a good analyst because you can analzye until you are blue in the face----the government is in control today----who knows if they will be tommorrow. What we do know is that we are not trading in a free market, and when the odds go to the dealer, the best thing to do is leave the table.
Thanks Anon. I agree 100% with everything you wrote. Widespread unrest will have everyone in the streets at one point (even the clueless now - as they WILL get a clue when it all falls apart). As I noted, buy the dips and sell the rips, I proposed this months ago (I'll have to dig the post up) when I became convinced that manipulation ruled. That has kept me (IMO) ahead of the top calling pack. Simply amazing stuff. Thanks for the kind words, they mean a lot.
ReplyDeleteBlue pill or Red.
ReplyDeleteDon't fight the Fed.
Shanky, The above posts counldn't have said it better so I won't even try. I'll just second them.I always did know of coruption in people but after seeing the last 24 months I could even almost buy into the 9/11 conspiracy crap. It is almost beyond Clockwork Orange shit. The founding fathers had a saying that " sometimes you have to water the tree of liberty". They knew better. I'll let you look that up to see what it means but you probably already do.
ReplyDeletePS:I'm a lurker and do very much apprecitate yout blog. Unfortuantly I'm also short right now. Dave.
Jim - LOL - does it really matter at this point? End the Fed!
ReplyDeleteDave- Keep lurking! Thomas Jefferson was one smart dude. Thanks for the tip. Did you know his south 40 acres was growing canabus? It is a remarkable plant. Can be used for many things. The more we learn about our founding fathers (masons or not) they somehow knew what the heck they were doing (scarry in a way).
As for 9/11, all i have to say is building 7 dude - they don't just fall down into perfect little piles. That is the only problem I have with that.
Thanks for the compliments and the views.