Friday, June 19, 2015

Morning Non-charts 06/19/2015 SPX /es

Not much to say other than Greece is in the balance (or so we're lead to believe). There is waaaaaay too much calm out there for my taste. Complacency breads .... well, you know. You've heard me moan about taking profits at the top all the way out of their system (the Greeks are at a point where getting anything all the way out is imperative). Maybe if some wigged out blogger like me is not credible, why don't we at least entertain a large fund manager

Storfaelt says going with the flow is starting to look risky. "There are clear advantages to going against the herd at the moment,” he said.“You get more return taking less risk by not joining a herd that goes for an asset without fundamental backing.” Ultimately, investors are aware of the disconnect between fundamentals and valuations, so they’re “trigger-happy.” That means they’re ready to “reverse as soon as things shake a little,” he said.

On to the lie - 

A week without charts has been refreshing and enlightening to me. I apologize for any inconvenience. They will be back I promise. I have enjoyed the chartless perspective, possibly too much. (I actually have had my trading platform charts FYI). It's cleared my head, taught me to take other foregone angles and see things from other perspectives that can't be ignored. It's been a good exercise personally. Sorry you had to endure it. I believe I will come out of this better or more confident in directional calls.

Pretty simple, at the top of my range near 2120. Price really should make it to a new ATH (they are batting 1,000 when crossing the STB bull/bear line since the year 2010). They don't like staying above the DoD long though (which they are above now). It will be a quick round trip if they do manage to pop it up.

I hate the lack of fear here. It's really disgusting and ultimately bubbleiscious. Be my guest, bet against team manipulation if you dare. I believe you can't bet ahead of them, you must follow their lead. Don't fret about missing the first move, there will be plenty there (either way) for the heard to feed on. Remain patient, have a plan, react and then watch it like a hawk. 

Freedom watch - 

Gun control is coming again. Yea!

More to come below. 

Have a good weekend. 

GL and GB!

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