Saturday, June 20, 2009

Charts For the Solstice

I SPY a Roadmap but its tattered

If there wasn't uncertainty, this wouldn't be called trading, it would be called "Winning". When I go fishing, I prefer to call it "Catching" as a joke, however, the markets are not as accomodating.

Friday, June 19, 2009

Steveo calls the top

Well it is good to be humble, but tomorrow is a better day. I humbly respect the chance that I am wrong and this rigged market will blast to new highs, but I doubt it.

Iron Condor

I jokingly posted this pattern on 6-2-09.

TBT sure looks like a short

Classic Head and Shoulders, and was just swatted down by a fib.

This is a double wide screen cap, so make sure you scroll to the far right.

Wednesday, June 17, 2009

Upside targets ready your shorts men (and ladies)

Time for a stupid bull suit, ES to 908 would be a 61Fib, but it might not get that high.

Hey, it wasnt just the banksta's diluting their shareholders....lots of companies did it to raise cash so they could meet bond obligations (or whatever...)

Tuesday, June 16, 2009

Sailing and Trading

I wrote this to Peter Dag, an asset manager with a vast experience and some simple and commonsense knowledge of how money flows from asset class to asset class.

Trading the markets and sailing have great similarities.

Periods of vast boredom interspered with bouts of incredible activity. Preperation and training making the difference between a rewarding and challenging adventure, or a boom in the head.

Monday, June 15, 2009

Stop blaming the US for everything

I agree with other BLOG commentary, its not that dire as that article points out....Perhaps global Armageddon is at hand, but the US will not be somehow made the sole recipient of the pain.

And BTW, although I will lambast the government robustly, WTF with China now bitching after we "made" their country by them selling us trillions of dollar of craps we don't need. They werent bitching when WE let them have the Olympics. And what about all the resource countries selling us oil and commodities at triple or 10 times the normal net margin....were they bitching when the US low interest expantionary monetary policy was making them rich, taking a generation of profits in a few short years....

Everyone is always willing to take a pot shot at the US...but no one wants to remember the good that we have done for them.

This is chart that I in late 2008, at least the green trendlines. The lower green channel line came back into play, forming an ascending wedge with the new black channel line.

This Jing post shows my expected measured move on this triangle. No--this is not Armageddon yet, just a gut check for the bulls.

And Here is a Closeup of the Chart

Sunday, June 14, 2009

This ain't your Dads ESM9, the all new ESU9

here is my view of the ES

I am drawing these channel line using the 0% and 50% and picking that to hit the max number of "time spent near" areas of the price chart. The 100% channel ends up where it is, far below the recent top which does happen even on classic elliot wave theories.