Open Weekend Post 04/21-22/12 #Rant #Entitlement Must Stop!

You know the drill, share the love and the knowledge.

Warning, this post is not meant to ruin your weekend, but to wake you up.

Want a taste of reality in America. Something some of the readers of this blog never experience or see. Want to know the Democrats big secret and who Obummer's biggest supporters are?

We must stop the entitlement system!

After this post "Your EBT Card Has Been Denied": 700,000 Are About To Lose Their Extended Jobless Claims Benefits | ZeroHedge I gots ta scrap aroung YouTubes ant foun dis - Warning! Try not to throw something or throw up after watching this.

Free everything BITCHEZ! And the more kids you have the better!

Afternoon Delight - SPX

Ramp me up Scottie!

60m chart is not quite there but where it could turn. That said, the daily chart has plenty of room to run. Without a whipsaw 30m should get a MACD and TRIX bear cross in the morning. Based on the daily position this would offer no more than a corrective, but in these volatile markets (the 15m charts were the best signal for the last 4 turns) you can't trust anything. Given the jobs report and Philly Fed report this morning basically noting what an economic disaster area this nation is, nothing matters other than news (does not even have to be factual - just a rumor will do) from the euro zone at this time.

SPX 30m -

Morning Post

Overbought, wedging and rigged are the three best words that come to mind. Last night Zero Hedge posted this - The Fed Finger: More Observations On The ESH0 Incident - for those of you wondering why we got the whipsaw yesterday on no news - there you have it. Take a peek at how much cash it took to pull off that trade. The inner workings of this market are simply intriguing to say the least. The shenanigans are simply insane and no one in our government gives a shit (actually, I believe they are behind it, so they do give a shit - about them - not us).

I'm still calling for a near term reversal cause that's what the charts say will happen. SPX is trying to hold a lower TL off of the low yesterday am. It closed the gap from the open yesterday (amazing isn't it?). The muted reaction the the slightly worse than expected jobs numbers is no surprise (4 points down on the minis). 

INTC reports tonight with JPM tomorrow night (earnings calendar from Briefing.com). I would not recommend swinging shorts or longs thru the weekend (you do what you do, but that is just crazy IMO). I would speculate that there is a chance the report early if earnings are good so the market can get the ramp going into the weekend.

With Opex upon us, no guarantees can be made.


SPX Daily - It is wedging and overbought and it whipsawed into a continued overbought situation yesterday. It should go down. I am in cash after closing shorts yesterday at even. I also think my call will be wrong for more downside at this time - I just don;t see the PPT giving it any lead like I thought they would. 1080 would be the expected number. 1118 would suffice. 

I'm pretty pissed right now. This bullshit has to stop. They are killing us for the banks survival and bonus structure. I'll say this, they say they have to pay the bonuses to keep the talent. I say let them throw the "talent" onto the open market and see if they can find another job paying 60% of what they are earning now. It is bullshit. I'd call it hush money, not a bonus. You may get a spirited rant soon.

GL and have a great day. 


Let me add this - RUT should be topping very, very soon according to this chart. I said should be, not is. 61.8% retracement of the fall and the upper bear market TL. 

Tom Brokaw Can Kiss My Butt (A Mini Rant)

In a must watch post for the ones that believe in disinformation practices. THE KING OF DISINFORMATION NBC attacks the bloggers and the Internet for spreading disinformation?

Brokaw, "There is so much disinformation out there that it is frightening. In a free society that depends on information to make informed decisions and this across the board access by the way....This is crazy."

You gotta be freaking kidding me that the parent of CNBS and the once mighty Tom Brokaw could be making this bogus statement. Excuse me, but you put fucking Cramer on TV and make this bullshit statement? Here is one bloggers opinion on your thought, get freaking lost and go back to retirement. Tom, I'd bet you don't even understand the information age IMO. I believe it blew past your old ass at 100mph, and you probably thought it was one of your farts. How's that for some disinformation.

Fucking bullshit I say. Tom, you did a great job in your day. You were my #1 nightly anchor when I used to watch the news on TV, but now you are basically calling all of us ignorant and incapable of making an informed decision. Why thank you, you god complexed ex anchor. I really appreciate what you did in your time, but now you can kiss my butt. Call me ignorant and ill informed and not capable of wiping my ass without help from a major network. Screw you!

So are you saying that you were able to lead the huddled IGNORANT masses all those years. Uh, OK, that says a lot for your accomplishments now, doesn't it? Now it is the internet's turn and they are stealing your viewers? What's the freaking difference, your shit does not stink and mine does? Listen, the propagandist bullshit that spews from your production rooms and the more than "truthful" advertising that support your bullshit programming is (along with ALL the other major media) the single greatest contributor to why we are a bunch of ill informed ignoramuses that can't make an informed decision you dip shit.

Guess what Tom, I got your quote off of a video on the Internet and I am making an informed decision from your words and that decision is that you and NBC and CNBC can all kiss off. I'll take my chances on the web.

SDS, EEV and QID - The Red Headed Step Children

Who the fuck knew things were so damn rosy out there? I mean looking at these three you would think that any hint of a recession or unemployment or the plethora of other issues that exist don't exist. This is the most screwed up shit I have ever seen. Notes are in the charts. The skid marks - I mean gaps are the brown sharts across the screen. All support resistance lines are with historical points included. These wedges were so easy to draw even prophit got one of them right in TOS.

EEV - Has fallen 91.75% from its 196 top. So things are so good in emerging markets that this has happened. WTF is gonna happen to EEV when things really do recover in 10 years? Previous all time low was 58.12.



SDS - Has fallen - get this - 61.8% off of the top. 40.38 is all time low.



QID - Has fallen 61.8 points from the top (not a fib number, but kind of cool in relation to that number). Anything below 28.46 is setting all time new lows.

SPX - An Overview Of Where We Are

Pretty self explanatory. A GSEC channel (black), a rising wedge (blue) with overthrow in the channel, a smaller channel (red), a mini breakdown if the larger channel and wedge and some targets. I'll believe the fall when the red channel gives way.

GL Trading.

Introducing The GSEC - SPX 15min

One of my spontaneous rants at KENNY's site generated the naming of a new chart formation that has caught on, the GSEC (Goldman Sachs Expanding Cock). This is a large channel up that is formed during an unexplained and unwarranted strong move up in the market like the one we have experienced over the past several weeks. When there are no fundamental or technical (or any sensible reason at all for that matter) for a market "rise", and it forms a large channel resembling some huge dildo that they use to fuck the shorts in some violent fashion.

Thus, the GSEC was born. Look for it frequently on a chart near you and be careful. This is not your standard dildo, it is the GSEC. This one is powered by your tax dollars and can be wielded by numerous male and female figures (Pelosi, Frank, Ben, Timmay et-al) without any regard to your personal preferences as to which orifice they decide to fuck you in. Since it has a virtually unlimited power source it can grow to any exponential size they can imagine.

The dangers truly lie in being short when one of these gets aroused. The beating can be humiliating and painful (as some of you know). To date there are no chat rooms that I know of offering support for GSEC abuse, but there should be. So, look out for the formation of these new chart patterns and warn your friends. See chart below for the most recent example.

GL trading.

Whenever You Are Ready SPX.

The "stair steps" are getting shorter and shorter as the wedge plays out. I'm gonna see if there is a "throw over" top, if not I might actually buy some short shit tomorrow. I'll post when I do and what.

There were several posts made today so look below. I'm still not short. Thanks for the views.