Wednesday, November 19, 2008

Now EOD 11/19/08

Geeze, I was so bumbed out about the close, I forgot all about the cooooooolest part of the day, that was the 2T on that five minute chart above, it showed up on the 10 minute chart as well, my goodness, that was the most classic 2T I've ever seen, and if you caught it, you caught the entire down day. We went up for a couple of bars, sold off, blah blah, and then, we started back up, settled right on a double top, and then at the bar at the arrow, we poked through the top, making a new high, and immediately turned the candle around, and went under the low of the prior candle, wow, that was a classic. Remember also, that the whole thing was a lower high, as we couldn't even get up to the gap fill from the prior day, over to the left. I'm posting this for my future refference.



2:10pm: The GOOD part, is we finally look like we made a solid break of the lows. The BAD part, is that it looks like we finally made a solid break of the lows. It's probably good, if you are short, as we "might" start trending again, rahter than all this chop chop shit, as we start the next leg down. It's "probably" bad if you are long, as I don't see much chance we aren't going down to the 02' lows, which is about 5 points away on the SPY. The Q's really made a solid break today, pretty ugly looking.

I really don't have any thing to say, I'm probably going to take off on a trip for the truth again, before Thanksgiving, it's supposed to snow here on that day, so I want to go see the kids before then.

Have fun out there.
Oh, by the way, the new low/new highs differential closed at -192 today, that's still higher than the two previous lows on 10/10 and 10/24, but it's more than the low we made last thursday. Do what you want with it.

7:00am: It's encouraging to see the new highs/new lows differential continue to diverge higher each time we make new price lows, and "test" the bottom of the triangle, BUT, it's obviously NOT good to be increasing the number of new lows on an UP day like yesterday, sigh.
Futures kind of whipped around and stayed in the same general "area" after the economic reports this morning, after the latest "worst since" data points, Economic Report: Housing starts fall to record-low level in October , combined with one of the "record drops" Consumer prices fall record 1% on record energy drop .
After da Boyz got done whipping the premarket kamikaizes around, they have resumed their general downward direction, back down over 2.30%, about 20 points on the ES, with the SPY at 85, or two bucks under the close from yesterday. 84.50 would be about a 50% pull back of the run up into the close yesterday, so that's a starting point. Personally, with a dump like this, I want to see us head south after the open, and look for a trap door, where we go down three to five bars after the open, and then set up some kind of reversal bar or pattern, I haven't seen that in quite a while, as the general move at the open after a premarket dump has been to go up out of the open, which totally screw me, in that case I wait for the first half hour or hour to see what they have in store for us.
Good luck out in La La Land today.

5:30am: Futures are down, they were down pretty good last night when I hit the hay, DOW about 144 points, ES and the rest about 1.44%, we haven't completely taken out the big dumb green bars going into the close yesterday, but, "they", are working on it. The bad part is the Boyz aren't even using any manufactured news to put a label on the dump, we are just, down.

I'm screwing around with the DeMark count, just going back and checking it out, I don't have the book or anything, but I know the count starts and continues when the close is lower than the close 4 days ago, so I set some thing up in TS that shows that count, it's the yellow dots in the chart above. The basic buy signals start with a nine count, he has other parameters as well, it's kind of interesting that we hit the nine count the day before yesterday, and sure as shit, we bounced yesterday. The count supposedly has more power when we are over sold, or sitting on a support area, stuff like that. I'm not a conpiracy nut, but it sure seems convenient that we hit the count, sucked the DeMarker's in, and then took it to them over night, hahahahaha, that can't be true, can it?? Nothing is ever manipulated on Wall Street, is it?????

Speaking of the DeMark 9 count, I've told you this before, but I once made nine nine's in a row on the crap table's in Vegas, I didn't roll nine straight nines, it took like 50 some rolls or some thing, but my number was 9, nine straight times, and I made the roll. So, what do you think is my favorite number, hahahahaha???!!! Actually, it's 11, as I was born on the 11th day of the 11th month at the 11th hour and I was the 11th born, my pappy was a pistol, I'm the son of a gun!!

Futures just took another dump, Paulson must have come out wearing his Rambo outfit, demanding another trillion dollars or some thing, with no strings attached, or we will all die by the close today. Was it disgusting or what, watching a bunch of grown men from the auto companies, sitting there last night, crying and pouting, give us welfare, or, or, booooo hooooo, we'll have to declare bankruptcy because of all our lousy business practices!!!!

I've been looking to get into GDX, to complete my Core account allocation percentages, but this really gives me pause, " Demand dichotomy Retail-based demand for gold jumps, flying in the face of institutions opting to exit positions. " Any time you read where retails are piling into some thing, while the insitutions are more than glad to sell it to them, should scare the shit out of anyone. I have a number on that GDX I'm looking for, some where in the 17's, and I'll be proceeding very slowly.

WOW, the futures REALLY dumped going into the premarket open, every thing is now down over 2%. It can't be the data coming up in a half hour, the CPI, that will probably show another record drop. Hmmmmm.

6 Comments:

sysin3 said...

damn Cucca, that uglier than the south end of a north-bound elephant.

what you do ? sell all your GE or sumpin ? ;-)

Cucca said...

I said, monday or some thing, I WAS GOING TO CRUSH THIS FRICKING MARKET, THAT THEY PISSED ME OFF HAHAHAHAHA!!!
It must have scared them pretty bad. I'm still in the UYG and SSO, hedging and trying to pick up double shorts with puts and sold calls, etc etc etc.
The fun is going to start when we hit the 02' lows, NOW THAT, WILL BE INTERESTING.

Cucca said...

I checked, it was monday at the 7:15am update, I said I was going to drive this bitch into the depths of hell!!!! Hahahahahaha, hey, I am a man of my word.

bzbtrader said...

Hey Big Guy, sorry I missed your birthday. Here's a belated best wishes.

Happy Birthday

Remembering the good times past,
Those memories are fading fast
I now rely on drugs and such,
Attempting just to stay in touch

Fallen arches, swollen ankles,
Blotchy skin that really rankles
Weepy eyes, post nasal dip
Fever blisters on my lip

Leg edema, bleeding gums,
Carpal tunnel’s locked my thumbs
Forehead’ s feeling kind of cool,
And please don’t ask about my stool

High blood pressure, halitosis,
Impacted ear wax, pigmentosis
Nocturnal cough, might have some staph,
Bladder leakage when I laugh,

My few good teeth are looking stained,
And TMJ still causes pain
Hammer toes and ingrown nail,
Sure hope my new Depends don’t fail

Heartburn, reflux, indigestion,
Tendonitis, throat infection,
Muscle cramps and neck bursitis,
Only aggravate my arthritis

Hip replacement needed soon,
Prostate feels like a balloon
Chronic snoring, evening gas,
Waiting for that stone to pass

Liver spots and night time sweating,
Might be lupus is what I’m betting
Some mild angina in my heart,
And sneezing tends to make me fart

For now, I’m quite content to dream,
Of bunions, warts and hemorrhoid cream
This birthday wish I send to thee,
With my best wishes, symptom free

Cucca said...

TANK YU!!!

Cucca said...

Actually, after reading it, I feel GREAT!!! I can only identify about 19 of those items, hahahahahahahahahahahahahaha!!!!!

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