Monday, November 10, 2008

Now EOD 11/10/08

2:15pm: YUCKO!! Another one of those stinking gap and craps, nothing like looking at history to see that one coming, the fricking roaches, both the SPY and Q's, oh hell, all of 'em, came within a gnat's ass of putting uuuuugiillly bearish engulfing candles on, we had a last half hour rally, or it would have happened (wad' they stinking rally for).
The 60min is putting another Witch's Hat on, those Witch's must travel in packs, you don't see any for eon's and then they come like wild fires. Since it's pretty obvious, NOW, that friday was a continuation day, the next wave should be an equal move, which means it would be equal to the drop on wednesday and thursday, which takes us back down to the yearly lows, or there abouts, who fricking cares, I don't.
Bloomberg has a sense of humor, their big guest this hour is Marc Faber, better known as Dr. Doom and Gloom, hahahahah, way to go Bloomey!!
We rallied a little after the close, I guess Starbucks must have beat.

Just a policy note here, since I can't use Dave Landry's stuff, or he'll probably sue me, the witch's hats I show, are the opposite of what he outlines in his books, in a down trend, the hat is supposed to be upside down, vice versa in an uptrend. I like them the other way, they actually set up a convoluted head and shoulders, or more of a continuation pattern. Anyway, I thought I'd mention that.
5:30am: Futures are continuing upward this morning, well, actually, no, they are well off their highs, but still up about 1.7%, DOW up 140, the ES hit the R1 level and then dropped, and just tried to hit the daily pivot at 950, R1 is at 960 so you can see how much they fell.
Everyone is all excited because of China, CHINA $586 billion road to recovery , I have not idea why it's 586 rather than 587, hey, go for the gusto baby!!!
All the commodities are moving in sympathy, oil up 5%, the dollar down, etc etc etc, including the commodity stocks like BHP and RTP and BNI, hmmmmm, haven't we seen this movie some where before????

I don't see what all the excitement is about, hell, we gave Jamie Dimon and his buddies $700 billion just to fatten their wallets, such as Citigroup said in talks to buy regional bank , and the thanks we get is a market crash, what's the big deal??? Jamie's buddies of course, are the big three, no no no, not C, WFC and JPM, I mean Bushie, Chenney and Paulson, I mean, come on, do you REALLY think they stole 700 billion from us with just a couple of months left in the imperial administration, to NOT get a big chunk of that money when they leave?? Do you REALLY think that big meeting they had with them, was to talk about looseing the purse strings to let us borrow more??? Hahahahahaha, it was to finalize the details of all those off shore banks that the blood money was going to be put in their secret bank accounts!!! Woooo hoooo, nice work if you can get it. I guess they feel they still don't have enough, Financials AIG and U.S. revamp bailout , what's it up to now with them, 160 billion???? I love the way they put the headline, AIG AND US, hahahahaha, what the fuck does AIG I have do with it, all they are doing is GETTING the money!!!!!

Some of the stocks moving are shipping, like PRGN, EXM, steel MT, X, etc, metals like ACH, RTP, TC, BPH, FCX, BBL, gold is moving up, not to mention all the China ADR's. For some ungodly reason banana's are going up, CQB, Chiquita, since those people only make a dollar a day, I guess banana's are one of their diet staples. Some of the coal names are starting to move as well, like YZC, not to mention the energy names, I also notice the stem cell names are moving again today, STEM and GERN and ASTM, they went up before the election, dumped after the sell the news, and are now moving again.

Amid all this bullish hesteria this morning, it's nice to see the comedy store hasn't lost their sense of humor, [GM] General Motors cut to sell from hold at Deutsche Bank , hahahahahaha, nice fricking timing Deutsche, you need to get out of your cave a little more often!!

It's kind of funny because I distinctly remember last week, some analyst saying that they would probably hold off until after the holiday season, to see how they did Circuit City files for Chapt. 11 bankruptcy , you know, even back in the seventies or there abouts, these stores were always kind of scuzy peices of shit.


sysin3 said...

Dave's a good guy. He probably wouldn't charge you much ;-)

Did I say "buy". Well, of course you know that means "sell". I'm practicing to take over Mad Money when the current entertainer gets retired with extreme prejudice.

sysin3 said...

BTW, Dave's service has been catching some nice shorts over the past some months (based on his weekly educational sessions, which are free)

His service is probably worth the price, but I haven't tried it.

Cucca said...

Hahaha, I had to go back and look at the post to see who you were talking about. Yea, I got two of his books, not bad.
I think you can get a free one week trial to his service, at Trading, I think I took it once.
Yea, ya know, my greatest fear was the fricking gap and crap this morning, the fricking roaches, god I hate that.
I'm done. I'm never "doing" the markets again, EVER!!!!

sysin3 said...

well, i saw it (gap and crap), didn't do it.

still a bit wonky for me, but i think it's more "normal", for whatever that's worth.

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