Tuesday, November 11, 2008

Now EOD 11/11/08




2:00pm: The old saying is never short a dull market, much less a dead one like this, so those nasty old bears didn't, they just let "investors" do their merry little drip drip drip selling (remember, always buy high and sell low, that's an investment staple), and waited for the release from the Franedies this afternoon on their latest bail out plans for the dead beats, that combined with the ones from BAC, JPM and C should keep housing dead for decades to come, but that's another story, ANYWAY, we got a buy the news pump, hahahahaha, geesh, every body knew about it, but wad ever, so the bears waited and twiddled their thumbs and then said OK, lets check this out, and they did, and promtly sold the shit out of it back down to where the pump started. Remember, always short an active market, especially one being pumped off on a none news event.
We huffed and puffed the last half hour, but couldn't quite get it back to the open, but hey, all in all, not to bad, it's better than being 10% under the lows for the year.
We put some fairly decent little doji type narrow range bar candle thingey's on some of the index's, if you have any balls, you "could" "probably" buy them over the highs of today, tomorrow, that is, if we get a turn around wednesday tomorrow. Of course, you could just as easily short it under the lows as well.
Lator gators.

7:00am: Gee, I think I personally know at least one IDIOT that is searching for a bottom, hahahahaha, Bottom debate finds contrarians contrary , I really don't have much doubt that we take the previous bottom out, and probably fairly decently, maybe that will provide the necessary scare the shit out of them that is needed.
Futures are just kind of wallowing around in their death rattle, I would kind of expect a bounce after the open, that might set up some kind of short signal, who knows. I'm going to shut down and install the updates to TradeStation, and see if that straighten's it out, good luck out there today.

THIS IS EXACTLY, WHAT I THINK IS GOING ON, Paul b. Farrell King Henry's bailout like Rummy's Iraq !!!!!!!!!!!!!!!!! History is not going to treat these roach's kindly, invest in all the law firms you can, because the law suits are probably going to be going on for decades, after we start finding out the graft and corruption involved with this thing, and where the money actually ended up going.

This is an up to the minute chart of the S&P futures, the ES, I bring this up because it is almost a picture perfect example of the avanche setup, we get the drop last week, then the little rally friday, then yesterday has the tail on top where we tried to get over friday's high, and the MA's, and failed, and now we are trying to take out the lows of the pattern. I probably don't have to say that a break of those lows, 90.06 in the SPY, is "probably" going to result in a retest of the yearly lows at some point down the road. Anyway, it's some thing to look forward to, short the hell out of this fricking thing.
I wonder if they are called the futures, because they show you the, aaaahhh, well, FUTURE?? The ES broke the October 10 lows on the double bottom attempt on October 27, while the SPY did not, I guess they are trying to tell us some thing about down the road.

6:15am: Well, this is great, I'm not getting that warm and cozy feeling, as TradeStation didn't want to open up this morning, it probably didn't want to show me what's going on, what are we, limit down?? Oh, no, we aren't, DOW's only down 155, ES and the rest about 1.74%, I guess it's the market's way of wishing me happy birthday. I know it's my birthday, because everyone puts their flags out on this day, and oh by the way you young'ins, reach into your pocket and put your hand over your money clip, because I'm taking my SS early, hahahahahaha.

"Citi expands foreclosure-avoidance effort Will contact 500,000 mortgage holders — involving $20 billion of balances — to try to ensure they can pay loans, stay in homes." Geeze, 500K of them, amazing stuff. Toll says homebuyer traffic and demand at record lows , I continue to say, like I have for two years, this thing is years and years and years away from a final resolution, I mean, forget the unreal bubble area's like PrunePickerVille and Florida and Neveda and Phenoix, that national average I mentioned in the chat room last night will have to fall AT LEAST, another 50%, AT A MINIMUM, before Toll and the rest of them start seeing demand pick up.

BUY BUY BUY, Thornburg swings to profit !!!

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