Monday, November 17, 2008

Now EOD 11/17/08



2:15PM: YUCKO!!! We did have one thingey, we had a nice "slim Jim" on that 10 minute chart at the bottom, cooooooollll, these can be fairly rare, but pretty predictable, you take them on a break, either way, over or under, it worked for some change going into the last hour, on the break to the down side.
My 60min trend indicator is going nuts, red/green, red/green, red/green, etc etc etc, that's really good, REALLY!!! Hahahaha, yeeeaaa, riiiiggghhtt, anyway, it "CAN" mean, we are trying to get a trend change, it has done that in the past, but, sigh, personally I think it's just chopping around, preparing for the next leg down. Since a week ago, we've gone, lower high, lower low, lower high, higher low, lower high, lower low, and now, it looks like another lower high, with a break of the lows today being, naturally, a lower low, and probably headed into the abyss.
The Q's look pretty bad on that daily chart, that's probably why they are called the NasDogs.
The really good part, is tomorrow is turn around tuesday (followed by turn around wednesday, etc etc), which probably means we turn around from going down, to REALLY going down.
Wad ever, I'm going out to the ranch, and watch the moo cows piss on the flat rocks, lator.
7:15am: The futures continue to just kind of grind along down at the lows, the SPY is around 85.65, which is about 2 points above the "LOW", that being the yearly lows. With the big dump we had the last hour friday, the open is going to be pretty over sold on the intraday time frames, so, we "could", get a bounce. Never mind, the idiots are taking us up into the open, this is later, about 7:20, SIGH, wad ever.
I was sick all weekend, puking out my butt, and in looking back, I was coming down with it late friday (just like trying to analyze the market, looking back, HAH), anyway, I didn't drink all weekend, which really puts me in a lousy mood, and to top that off, I woke up feeling pretty good this morning, which REALLY puts me in a shitty mood!! As you know, I've been fucking around with about 15% of my account, trying to get this thing to go up, and being a sleazy bottom fisher, and day trading hedges and crap like that, well, I'm getting tired of being Mr. Nice Guy. If the master planner's that control the destinies of the average mom and pop "investors" are determined to do their typical bull shit, which is to try and suck them in at the highs, and then destroy as much wealth as they can in the country, in an effort to accumulate that much more wealth for the top 1-10% of the ass holes that own just about every thing in this stinking country any way, then I'm considering using the cash I have sitting around, to PERSONALLY, drive this bitch into the untested depths of hell, and maybe catch even the master planner's off guard enough so, that I may break some of them in the process. I hate to do that, because I'm probably going to hurt some innocent little momsey's and poppsey's in the process, but it's for their own good, maybe some of them will start learning to accumulate some of this crap when they are supposed to, when we are in the destruction phase, and setting up for some great opportunities down the road, like in five to ten years (maybe longer, wooooo weeeee).
Anyway, good luck to everyone out there in La La Land.

6:30am: This is my intraday time frame, or day trading chart setup, or, one of them. I don't post this chart because the black back ground shows up like shit on the site, but that's what I'm on, so that's what I get, I drew the line across the top of the peaks "INSIDE" the triple bottom "pattern", the "TAKE IT" point is about 99 on the SPY, like I think I mentioned friday we also have the "possibility" of a Big W pattern if we go up, actually, in this case, it could be a double Big W. I wanted to point out in the white circle that Money Flow has been going up since we started going down from the top on 11/4, IE, a divergence, which is positive. My personal thought, as I have probably stated a number of times, is this pattern is a peice of shit, but it is very clear, a conservative "investor" would be inclined to take it if we can get over that upper trend line, or, even more conservatively, could wait for the break over the middle part of the W from 11/4, around 101.53. My trading rules (hahahahaha, yeeaaaa, like I have "RULES") would not allow me to do that, I would want to see the "break", and then a pull back, or retest, or throw back, that comes back and test's the break point, and set's up some kind of candle or daily buy type of setup, at that point. The other side of the coin, is I think the next time we go after the lows of this "triple bottom", we go right through them in a fluid move, IE, we don't test and bounce, we just break the damn lows, and head into the depths of hell, at least down to the 02' lows, and then, we shall see, what we shall see.

6:00am: Just out of curiosity I checked the stats on Triple Bottoms at Bulkowski's site, http://thepatternsite.com/tb.html , pretty neutral, but it's interesting that he classifies it as a bullish pattern. The fact we violated the first bottom on 10/10 is not, aaaaahhhh, GOOD, and to add to that, we are getting a "throw back" after the last bottom, on thursday, which also reduces the effectiveness of the pattern. Anyway, to confirm a "take" it of the pattern, you would draw a line from the first high on 10/14 at 105.53 across the second top on 11/4 at 100.86, and "take" it when we go UP through that line. Those are the highs that are "inside" the pattern. I'll post a chart if I think about it (I won't, think about it that is).
SPY just opened up DOWN about 1.06%, or 92 cents, Q's are getting hammered for some reason, down 70 cents or 2.42%.

4:55am: Futures are down, not much, the DOW about 60 points, or as all of them about .70%, it's interesting because they opened up down last night, about 70 points, and then by the time I went to bed, they were UP 70 points, so, just your ordinary over night 140 point range. Speaking of the over night, those numbers above reflect the change in the over night futures, if you go back to the close on friday, the ES is ACTUALLY down 16 points, or 2%, meaning the DOW is ACTUALLY down 153 points, I hate the way Tradestation does that.

Asia and Europe have been down, mostly because every other country has been talking of a coming recession/depression, or they are already in one, but the general concensus is that we are down because of the lack of anything at all out of the G-20 meeting, well, what the hell did they expect????? I mean, we may have opened down last night on the G-20 lack of news, but I think the rally was because they thought about it, and decided, hey, that's good that they didn't do anything, so they rallied us, and we are down this morning because of the unrelenting torrent of bad news out of the rest of the world. Besides, did anyone REALLY think they were going to try and reach any accords with the lame duck idiots currently residing in the administration, when all those polocies will change in two months, for the next eight years???

3 Comments:

sysin3 said...

haha, i was trading the TS simulator account today. just trying out some stuff and trying to get some rhythm.

it got so bad this afternoon that i didn't even want to trade PLAY money ..... must mean it will get better soon ;-)

Cucca said...

Hahaha, you be definitely right, woooo weeee, what a fricking grind.

sysin3 said...

aw, hell, watch this

http://www.cbsnews.com/video/watch/?id=4608198n

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