Thursday, November 14, 2013

WOW! Un-fricking-believable premarket this morning, two DOW components, WMT and CSCO completely WHIFFED earnings and are down, CSCO by 12% and WMT by 2%, so what does the DIA do??? It promptly makes new all time highs in the PM!! Another Mom and Pop store, KSS, meeced earnings and warned for the full year and next year, down 9% in the PM, so the SPY promptly makes new high time highs in the PM!!!
The EURO is DOWN, with the dollar UP, so, NATURALLY, gold and sliver are up over 1%, with the ATH's in the markets, bonds are, NATURALLY, up MORE than the indexes, TLT up .54%, JUST ALL YOUR TYPICAL INTER-MARKET CORRELLATIONS, HAHAHAHAHAHAHAHAHA!!!!!

After the new ATH's in the markets yesterday you would, THINK, the internals would be flying, but the $NYSI actually went DOWN, with the $NYAD's flat, just awful shit, it is.

Oh, yea, right, data out of Europe this morning showed German growth slowing and France and Italy going back into recessions (on going DEPRESSIONS??), so Doctor Copper dropped to three month lows over all the fantastic growth around the world.

Don't forget the Pristine Trading room open house today,

If you want an easy way to keep up with all the premarket action Benzinga has a wonderful broadcast on the internet every morning,


Here's a couple that I'm "watching", both of them are butting right up against their big enchilada upper trend lines, and a break above them, "COULD", lead to further gains. SO run's into an air pocket on a break over $42 and might be headed back to first resistance at around $44.50.

BAC has this big "Bull Flag", it had good volume today and Monday, and a break higher could take it BAC to first resistance at $15. I actually sold my options today when it reached that trend line on a 60 minute chart, hahahahahahahaha, soooooooooooo... you might say I don't think it's going to do it, but if it does, I'll look to try and get BAC in.

Here's another one I kind of like, Goldie, GS, above $164 and it run's into AIR that "MIGHT" allow it to get back to $170, hell, if you are going to play you might as well play with the devil himself.

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