Saturday, October 22, 2011

For investors, playing it 'safe' can be risky

That's the typical Wall Street fear mongering bull shit, "YOU BETTER BUY BUY BUY, OR YOU'LL MISS THE HUGE FUCKING RALLY"!!!!
Yea, well, YA KNOW, I remember you people saying the EXACT same thing in that red circle back in 2008, THAT WORKED OUT WELL!!!!!!!!!
Sigh, wad ever, my attitude kind of deteriorated pretty rapidly when I saw the head line, it's just that it pisses me fricking off!! Not for me, I could give a shit less about me, it's just that they are doing their best, AGAIN, to suck Mom and Pop in, they're tired of them pulling their money out of their funds, IF YOU DON'T BUY THIS THING HOW IN THE HELL ARE WE GOING TO MAKE OUR BILLION DOLLAR BONUSES?????!!!!! 
Anyway, let me gather myself here, the weekly chart at the bottom is pretty cool, they look like exact TWINS!! What those red square boxes represent is called OVERHEAD SUPPLY, every one that BROUGHT BROUGHT BROUGHT, is trapped, and what they are doing is sitting there with their fingers crossed, HOPING, that the market crawls back up into that box, SO THEY CAN GET THE HELL OUT OF DODGE, IE, SELL SELL SELL!! The sequence in 08' was just classic, "THEY", IE, Da Boyz, take it back up, in the red circle right at the bottom of DA box, they even penetrated into it, then turn it around and start going down, and those individuals that were trapped say some thing like, aaaaaaaaahhhhhhhhh, SHIT, and give up, adding to the selling power, and helping out Da Boyz, who are, NATURALLY, shorting the market, while all the while, telling their clients to BUY BUY BUY!!
HAHAHAHAHAHAHA, ok, it's makes for a good story at least, I should be a poster child for the Occupy Wall Street crowd, I mean, surely, SHIRLEY (she works for Wall Street by the way), Goldman and their buddies across the street don't REALLY do THAT, right.........RIGHT???!!!!
Ok, I'm done with my bull shit fun, hahahahaha, actually, this looks pretty simple, IF, I was going to BUY BUY BUY this market, I'd do it with a break out over that line, like, MONDAY, with a stop, ON A CLOSING BASIS, under that line. The daily, at the top, really doesn't look that bad, I mean, yea yea yea, we're over bought on the indicators, BUT, we can certainly stay that way, and I could see us going up to the bottom of that sloping neck line, around the $128 "AREA", which is also in the "AREA" of that 200 DMA, and combined with the over head supply to the left, COULD, provide some resistance. PERSONALLY, what I'd REALLY like to see, is we go up there, and then pull back and TEST the break out, back at that line, and what I'd really like to see would be for us to go down through the line, and then turn it back around, and close above the line, with like a long tailed doji under heavy volume, some thing like that, that would be REALLY cool, and probably get me all excited. Another one I would REALLY like, is we DON'T break over it next week, go down, and set up some thing like a cup and handle formation, like, pull back to the $120 "AREA", or there abouts, and then make another attempt at, THE LINE, and go right through it this time, I'd actually like that as my PREFERRED scenario. A pull back might not be out of the question, as the idiots that are meeting in Europe this weekend are mentioning some unmentionables, Official: EU banks have to raise $140 billion, the head line is talking about raising capital, but the big Kahuna is down in the article, where they actually have the gall to suggest that, GASP, maybe the bond holders should take up to a 60% hair cut on the Greed bonds! Da Street, of course, doesn't like that, as it's been written in stone, by our fearless leaders in DC, that the TAX PAYER'S should take the losses, NOT, the aholes on Da Street that made the piss poor investments. 
Anyway, I always keep it in mind, that I'm ALWAYS wrong, especially when it comes to how stupid the market can get when it comes to going higher, so it wouldn't surprise me at all to see us do my WORST case scenario, where we just BLAST higher into Never Never Land, probably surpassing that druggies target of 20,000 on the DOW before the end of the year, which of course, would keep my investing time frame in the five minute tolerance range.
All in all, it should make for an interesting week.

If you have a few hours to kill over the weekend, and would like a little education, which I ALWAYS try to do, there's some interesting concepts discussed in these videos,, see the ones on "Layering" and "Pivotal Numbers". This was JUST what I needed, as I'm pretty tired, and it instantly put me to sleep.

1 Comment:

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