Wednesday, August 31, 2011
That's another nice scam down the drain for these scumbags. Thankfully
If anyone offers you the opportunity to trade at one of these firms, ask them what their cut is. They will likely lie or avoid the question. They'll blame the hurricane (even if they are in the midwest), someone being sick, or some other made up story in order to avoid the truth.
DONT BELIVE THE HYPE
If the firm is legitimate, they wil inform you that you must be licensed and they will tell you the proper procedure for getting your license.
Ill try to throw something up on the blog every day so the hag can earn her 50k a year for spying.
I'll probably do the SPY video, but the Stock Market Watch List videos will be paused until the day after Labor Day.
Have a great holiday.
From here, we can either chop it out into the Friday or start a pullback, but I tihnk the former is more likely.
Tuesday, August 30, 2011
It may be a bit premature, but we'll see soon enough. I think we get at least to the measured move that I've been talking about, if not the 50 day moving average before we get a decent pullback.
Watch for failure up here for a possible short sale opportunity if there is no confirmation of a break.
Trading isn't easy. If it was, NO ONE would make money. Don't let these con artists hoodwink you into thinking that they care about you. They want your money, and will do whatever it takes to pick your pockets, all while screaching "we help people!"
The sheep get slaughtered another day. Seek higher ground, grab an education, and formulate your own day to day trading plan. It's fine to look for information but make your own decisions!
Monday, August 29, 2011
10 years ago my country was attacked by a bunch of cowards. They slammed airplanes into buildings and changed many people's lives forever.
My President at the time was George W. Bush. After he sent our soldiers into Afghanistan his approval rating went through the roof. The same people that later criticized him were praising him and one liar I know in particular was telling me how he hoped that Bush "bombed the living sh** out of them", and then later he went to sing "nah nah" at him when President Obama was inaugurated.
My favorite twist was when people like Michael Moore and his alleged movie pinpointed when Bush was told the news that we were attacked and didn't jump up and run out of the classroom, but instead sat their in shock, composed himself and then left without scaring the crap out of the kids he was in the classroom with. How dare he not get up and start going crazy!
President Bush vowed to never let these scumbags attack us again on our homeground. At the time, a friend who's not a friend anymore (and I dont know why) said we would never catch Osama Bin Coward, and that Bush would eventually go down as one of the greatest Presidents we have ever had. he was wrong on the first part, and the second remains to be seen.
If anyone hasn't seen the special that National Geographic is airing this week, they should. Even the strongest Bush hater would have to respect the man after watching the interview with him, or they have no patriotism, and no comprehension of how difficult the situation that he faced actually was.
I know there are many that blame Bush for the current economic crisis, but no one was blaming him when they were making a million dollars a month, or exploiting the common folks with their get rich quick and easy schemes because money was flowing like water. I guess it was ok then, huh?
I would say they ought to be ashamed, but they have no shame left in them.
If you think I'm going to end my rant with a bash of President Obama, think again. I'll lose more followers because of this, but I don't really care. President Obama got Bin Laden. Yes, Bush started the hunt, but Obama got him. I know the stories about who really gave the order and he did this to deflect the job he's doing or whatever, blah blah blah.
I'll worry about the economy and pointing fingers another week. For this week, it's time to give some credit where credit is due.
It's ironic that the people I helped get ready for the hurricane didn't need it, as they, like me managed to avoid any issues, but others just got slammed.
Anyway, from what I have heard the super gurus gap fading following sheep got yoinked as there was no fade today (even though GOOG fired off and is ugly underwater..... ouch!) and as of now it looks like we are in chop mode. Breadth is very strong, and volume is on a light pace, as expected.
That's probably it for me today, but I'll be back tonight with the videos.
Sunday, August 28, 2011
Here's some POT analysis for a reader of my blog.
Friday was a nice day for POT, as the stock gained 4.65% and busted through the key moving averages, which are stacked quite nicely. Volume was good, as it managed to turnover greater than it's 50 day average, but was not great, as we saw better volume just a few sessions ago.
Resistance is just above at the 62% Fibonacci retracement of the last swing down, followed by the 78.6% retracement at 59.60s. Support sits at the 50% mark of Friday's big green candle, and the moving averages that were just freshly broken.
After expansion days, I like to watch for consoldiation, at least in the AM, so watch for moves BOTH ways for potential fading opportunities until a consodlaiton pattenr forms.
Saturday, August 27, 2011
If I save one person (in this case 2) by ranting the way I do, then I've done my job and it's all worth it.
By the way, I wasn't told what seminar they canceled, but there are no shortages of scamathons available!
Are they just being overly cautious, or could this really be the case?
Time to do the videos I guess.
If you don't hear from me for a bit, have a good month or so trading!
Friday, August 26, 2011
Thursday, August 25, 2011
I missed the sweetheart fade, and I'm on about 2 hours sleep, but never the less I'm watching to see if AAPL can get green
Hope you had a good fade if you grabbed it.
Wednesday, August 24, 2011
More on this tonight in the video
Let's see what happens when lunch ends at 1 (contrary to the super guru's beliefs that lunch starts at 1, ahh the idiocy never ends)
Tuesday, August 23, 2011
I don't feel "the low" is in, but once again, we could have "a low" here as this test down had shown an inter-market divergence. The NASADQ 100 ($NDX) and Russell 2000 ($RUT), which are considered leading indexes did get a test of lows, while the Dow and S&P 500 had higher lows put in. Usually this means that the "work is not done". This doesn't mean we can't bounce here for a little bit, as we continue to fill out the corrective pattern that started a few weeks back. The $NDX and $RUT did LEAD on Tuesday's bounce, which is a good sign on the short term.
My opinion remains the same: Ultra-short term bullish, longer term bearish. I think we have lower to go, and believe we will go lower after we finish up whatever pattern we are forming here.
Monday, August 22, 2011
It may or may not get to $2000, but its stretched enough here to start watching for a signal. Stay patient, but alert, as an opportunity for a quick move to the downside could come sooner than later.
Sunday, August 21, 2011
They are rounding up the scoundrels, time to grab the super hypesters that lose their sheep all their money.....40 milion is a drop in the hat compared to what these super gurus have scammed...
Friday, August 19, 2011
Volume on a brisk pace as expected, but unless something breaks in the afternoon, we should remain choppy.
Im gone for the day but this weekend I'll be doing a video on the Euro move that is setting up. Just to take all the "mystery" out of it [lol] I won't be predicitng direction, that's a fool's game based on the pattern that the Euro is currently set up in.
Have a great rest of the trading day,
Thursday, August 18, 2011
After Thursday's action, my thoughts haven't changed, BUT there is no evidence that the support has held, yet. Yes, we have held the 62% Fibonacci retracement of the bounce off the lows on a closing basis, but so what? We'll need to watch the action over the next few days to confirm that this low is holding, even for a small bounce.
P.S. If the lows of today are taken out, next support is 112.61. Below that and I think we get at least a full retracement, if not a 127% external retracement of the last swing.
I can't get off the fence, my rules are my rules
Get away as quickly as you can from these maggots and their henchmen (and henchwomen), they can do nothing but harm you...
As I've said multiple times, everyone is wrong at times, but when these scum tell you how things are 'easy" and make you feel ashamed for not making money, they are the lowest of low.
It's all just a scheme to get your money.
They make you feel that you aren't paying enough to get the "good stuff" and then the next pitch is for them to manage your money for you. They never quit at their scams.
Wednesday, August 17, 2011
Tuesday, August 16, 2011
Monday, August 15, 2011
No hype, no double talk, just great information that will assist you in your trading.
More to come shortly!
Market is choppy here as another no fade day sheers the super gurus sheep! PLEASE check out a real trading room for the love of kittens! You don't need to be paying a mortgage payment to get front run and pumped and dumped!
The Euro is getting a nice move on the session, but still overall in a range. ADX is up ticking. Will the breakout come to the upside?
Sunday, August 14, 2011
Pathetic doesn't even begin to describe it....
Saturday, August 13, 2011
Don't be fooled with sob stories about someone being sick or how they are out to help people and do charity work, it's all PHONEY.
They are gambling addicts, which is why they NEVER follow through on what they say, they are too busy spending YOUR money or gambling with YOUR money
Do your due diligence on these filthbags and do yourself a favor, do NOT send them any money to "handle" for you.
Read them, and make sure you are protecting yourself from their predatory schemes
Click on the words to get taken to the post:
Important when choosing a broker, and doing due diligence on super gurus and their henchmen
Follow up to that post
Hedge Funds again
Forced continuity (like free trial offers)
Finally, here's one that links to another article about how hedge funds are a scam
Friday, August 12, 2011
Checking in late today, I was up until 6AM reading some articles about the coming demise of the world due to this recent price action, or something like that. That's the problem with reading so late at night, I can't retain the info, if I even wanted to.
Thursday, August 11, 2011
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Volume appears to be on the light side as the market digests and so far, is forming an inside day.
Dont forget: Feel free to contact me at tinymjs at gmail dot com to schedule 15 minutes of free coaching
Wednesday, August 10, 2011
Here's the thing, I know you want to believe them when they tell you they are trying to do "right by their members" or whatever lie they make up, but they are super hypocrites and want nothing more than to pick your pockets.
After all, they are the biggest screamers about "brokers being bad people", although they endorse the worst ones because they pay the best and how you should "learn to fish" but yet take your money to manage at ridiculously high rates.
Here is a quick due diligence checklist, but not an all inclusive one:
1)Find out how much money the person running the fund has in. Ask why that amount? If it's only a fraction of their net worth, ask them why so little? If they believe it enough to sell you on loan shark like management fees, shouldn't they be all in themselves? If there is more than 1 person running the money, find out how much EVERYONE has in the fund. If someone doesn't have any money in the fund they are pushing, ask why? Are they using you to fund their lifestyle and pay their bills? Really?
2) Ask any and all people running your money if they ever ran money before and what their performance was. You Will be surprised at the results (because they would never admit it on their blogs, facebook pages or websites) and will likely run the other way!
3) Ask what their rules for handling risk are. These scam artists take ENORMOUS draw downs in their personal accounts, having dozens of margin calls fire off over the years. What will happen when they take a wicked draw down with YOUR money?
4) Why are they starting to manage money now? Don't buy the whole "our clients asked for it" scam. They are playing another angle because their previous scams have dried up due to the fact that everyone is on to them.
Make sure there is transparency, and no lock up so you can get your money out when you start seeing the shenanigans going on, like un returned phone calls and emails. I'm sure there will be an excuse meant to tug at your heartstrings, but these people could care less about you, they just want your money.
I'll keep good thoughts for those that drank the Kool Aid.
Not a good follow through day for the Bulls, thats for sure. I was exepcting at least an attempt and except for about an hour, there was no sign of the bulls present
volume was on the light side, whcih is about one of the only things I can take out of the day as a positive
More in my video that will be posted in a few
On another note, the SPY tested adn bled through the 62% Fibonacci retracement of yesterday's range, but is now back above that level. 111.88 is the key line in the sand. If that gets and stays broken, a full retracement of yesterday's lows is then expected.
It looks like we are trying to carve out a bottom here, so if breadth does improve, watch for a try back to the highs and then a try for a gap move
WAIT FOR CONFIRMATION in this kind of market, it doesnt hurt to be a little late.
Tuesday, August 9, 2011
I'm not a big fan of fundamentals, so if you want to know whats going on over in Europe re: the economy, then you will have to Google it. Let me know what you find out please!
The daily chart of the EUR/USD is showing a low ADX congestion pattern, and that will likely lead to a nice move when the Euro decides to break this logjam and make a directional move that lasts longer than a few days.
A crude measurement of the move right now says at least an 800 point move can occur, based on the width of the pattern, but that is obviously not in stone.
The problem with these wind downs is that usually before the breakout goes in the true direction, they will usually try to shake and bake the aggressive traders.
Nothing is easy and it's surely not red light, green light, but the low to high volatility cycle can be an extremely powerful one if traded correctly.
I have absolutely no opinion on direction, and I will keep saying that over and over, because what gets most traders into trouble is trying to guess direction from a non directional pattern.
History doesn't repeat, but it often times does echo
It's not enough to go on, because there still needs to be confirmation in the market with volume and leadership, but it's a good rough draft.
If we do bounce for a few days, volatiltiy should wind down a little bit, but don;t expect it to just go right back to the burtal choppiness we saw some days a few weks ago
Remember, anything less than 40 point ranges would be a contraction from here
Let's see if we get higher into the close, but wait for a trigger, as we've seen fakeouts the last few days, and who knows if the bears want to climb back in on this pop
If we close well, then a gap down Wednesday should provide a nice gap fading opportunity
How long this bounce lasts is anyone's guess
It's the last hour of the NY session, so let's see who wants to win the day
Like a clos basketball game, it may not be decided until the buzzer
Nice "contracted' range today comapred to the last week or so, but still some nice setups.
From here, we can continue to form the day's range into the FOMC announcement at
2:15, but then? we might see some renewed fireworsk dependign on what is said.
Short term suport is 1131 and reistance is high of day.
Monday, August 8, 2011
Q: Is the low near? A: I think "a" low is near, but not "the" low of this move. I think we ultimately have much further down to go.
Q: Is this considered a crash? A: No
Q: Is this the greatest buying opportunity of the year? A: I don't think that is the case. I think any bounce will offer a shorting opportunity for more downside
Q: Are you single? A: Yes, I mean no! Today is my anniversary, 12 years!
Q: Why do you keep looking for a bounce? A: Because the market doesn't move straight up or straight down, we are severely oversold, and we have some cycles that are set to kick in across a few time frames. I'm not necessarily looking for a bounce, as much a I am looking for levels to watch to trail stops and take profits if short.
Do you have any questions? Feel free to write me at tinymjs at gmail dot com
Everyone will start talking about how skewed the readings are, how oversold, blah blah blah.
Remember, we have been marking off support levels and they keep getting SHREDDED. the whole "we can't get anymore stretched" routine is just pure nonsense, we can continue to fall untii the market decides to roll it back.
Hindsight is 20/20, and there will be a lot of that when we finally do get a bounce
today was UGLY
Historical ratio levels are being seen here but all that means is new records are being set. A big mistake traders make (and I'm one of them), is looking for historical levels as signs of a place for a reversal to happen.
They are reference levels, but much more evidence is needed in order for you to use them as a trade entry
Who am I to argue?
So much for holding the lows! Thats why volume is NEVER enough, and without other confirming factors, it's just guessing
Breadth is -3000 and showing no signs of letting up at all here
This is major nastiness, and there will be plenty of talk about fund liquidations and margin calls
It's not enough to be a buy signal because:
a) Breadth is still horrible
b) There is no price pattern to confirm
volume is just one thing to watch, you need confirmation from other sources.
I'm going to grab lunch, Im assuming the market will still be here when I return!
That led to a 17.25 point romp. The same measurement would bring this to 1171.50
The difference here is we did not just spring off the low, we are meandering
That doesn't mean it's the low of day, but it can hold at least until after the lunch hour at 1PM
Still a good 20 minutes to lunch, despite the 1-2:30 zone that some morons quote as lunchtime. That idiocy alone proves it was just luck for them.
Seems like 4 points give or take are a good reference number at least for today
Using those reference levels, it would make below 1154 a dead end for this 1159 pullback level
A great question was asked: How much is an actual overshoot, and how much is a failure? In this environment, I would say 5-7 points (basis the S&P Futures not on individual stocks!) is still in overshoot territory, but that's strictly one man's opinion, and in no way a law. This will change as volatility winds itself down, which unless the cycle changes, it will eventually do. 10 days ago, 1.75 points was a max overshoot I would use
See if we get a remount on 1159 and a try at some upside
Breadth is still atrocious, so bounces are swimming upstream for now
As I finish typing this, we are starting to get deeper below 1159
remember, not exact numbers, especially in these highly volatile times, overshoot is common
We went 20 off the lows, and are now resting. Watching to see if we hold above 1159 and if that leads to continued upside
Support levels from the Fibs:
1165.75 (line in the sand) If we break that we can look for a full retracement to the lows
I like to wait at least 5 minutes before looking for an entry, and I like to have something to "lean against".
I'm watching overnight lows at 1161.50 and then 1152 as a key pivot level.
Sunday, August 7, 2011
Saturday, August 6, 2011
The 62% Fibonacci Retracement of the rally up off the July 1st 2010 lows is 114.90. This makes the 115 handle a key and critical number for the SPY on this current move. If we gap down severely from the downgrade of the US this level is one to definitely watch for support should we fall to it.
Again, I don't use levels as absolutes, just as reference areas. If a pattern doesn't set up, I will pass and look for a better entry, bu hey, that's me!
Even if we don't get slammed, it's still a level to watch on the short term if the downside continues.
Friday, August 5, 2011
Someone messaged me asking about my "looking for a bounce here" in my post a few back.
We were at the 127% external retracement, and we pushed through the lower Bollinger band to get there.
We wound up only getting a scalp like bounce (about 6 or so points for this type of market), but that was my reasoning, it wasn't gut, dreams or feel.
Thursday, August 4, 2011
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I've been following them for years, and so have my friends.
It's a free trial, but a credit card is required to sign up. Read all the details before signing up sop you know how to cancel if you don't like it! EWI has been around for years,and these guys don't base their business on infomercials and hoping people forget to cancel a service. They are the real deal.
I give credit where credit is due!
My theory of a bounce into the Job numbers was way wrong, we basically closed at our lows for the NY session.
First, we are now below the 200 day moving averages across the board. Second, this impulse was harsh, so even a correction would likely lead to a continuation pattern and another push lower (at the least) before this is done
The dust will have to settle here and that could take a few days at the least.
We are below the 200 day moving averages across the board on the indexes, so we are in bearish territory
Lots of crash talk going around. Who knows, maybe they are right, but we are a little skewed to one side sentiment wise
I can't get bullish with the A-D line like this, so waiting it out for a better singal
You see, the super gurus love gap downs, but they don't know why. They love them because they can scam more unsuspecting people. The problem they have with gap ups is that many people are still afraid to short, and since most of the super gurus have newbies as victims (once they learn anything they quickly leave for better places) they don't make any money on gap ups because they don't short them, and the super gurus can't brag.
The super gurus are likely getting crushed here, but will never admit it.
Eh, don't feel sorry for them, it's ok, there is another class and super deluxe list to super over hype right around the corner!
Now all I have to do is erase all the other support levels I "predicted" like the super gurus do LOL
Well, I was wrong the first several levels down, and so far we have a 7 point bounce, and it's got a long way to go to be a real "low"
Back after lunch. Time for the greatest sandwich ever!
What I think doesn't matter.
I'm looking for the Russell to break the lows, and trap any aggressive shorts who haven't jumped in yet.
Then, I wouldn't be surprised if we got a turn, but would need a real good pattern, and would be real aggressive trailing a stop
Russell just broke yesterdays lows here