Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Wednesday, March 18, 2009

Usual Trolling

So.... I troll a shit load of technical blogs.

All I hear are Bears...... By the Hundreds.... They want a retest.... and they back it up with EWT... that this is wave 4 and we need wave 5....

Ignore the fact that even Prictert said "cover".

We are starting to get 1 in 20 of them coming in on the long side.

Most of them are absolutely Fading what is being said on CNBC... mostly "they are full of crap".

I read the charts they read... and see things significantly different.

As much as I want to "Call a Correction"... this makes me very bullish...
These guys are losing 20% a day on the leveraged positions... Trying to top tick the market every day.

11 comments:

Tony said...

Yeah, I saw some guy buy FAZ at the close as a knee jerk response to any strength in finnies. High risk trade in such an oversold market with all this catalyst injected.

I agree that the name of the game is risk management from here, but man it's gotta be better than than the last three weeks. Or at least it will be different.

At the risk of jinxing this, today was a great day with money made scalping ABX short in the morning and then the gift from Uncle Ben for all my dollar hedges: gld, slv, fxc and fxa. My surmise was correct: any catalyst would have to either be a concerted devaluation of the US dollar or us finding Osama. I guess it was the former.

Why strength thru April? Are we at some longer term Wave 3?

Eric said...

Not through April... Until april just under 2 weeks.

I refuse to even talk or trade that gold stuff.... I did it for a while... I may pick it up for a scalp... but you gold fuckers are crazy...

Eric said...

how if I put it this way... I'd rather trade C and FITB than gold...

Eric said...

Ill have you know.... You Black Helocopter prick (just playing)

T-Lo, just pointed out to everyone what I pointed out to you days ago, that all assets were being purchased... which is an Up Crash.

Tony said...

Good job. You were just jealous because she quoted me on her podcast about Wen.

Envy will rot your soul, bro.

(It was a good observation, tho... and helped me make some trades and not fear being long when I needed to be. Thanks.)

Tony said...

BTW, off topic about Citi. This explains the huge squeeze up:

http://bit.ly/Sqk3R

Interesting. There's a lot of subtle things I just don't grasp.

Eric said...

well it was "Your bottom"... You just didn't know... You and mark Hains...

Did you read my comment...

and read the part in the mamis letter about how "though everyone on TV is bullish, it's making everyone bearish underneath it all. Upside trader just figured it out LOL... I was about to mock him...

You enjoy that stuff more... you should say "Damn you figured it out only a week and a half late... I guess the move must be mostly over."

Eric said...

Your broker doesn't give you special notice of special margin requirements on stock depending on price?

and buy in is a bitch.... which is why it's best to short Intraday.

Eric said...

Do you believe I'm out there on every blog saying "Get em boys, we can take them out tomorrow"

I'm such an asshole

Eric said...

I have another one for you, Send an email to TK, tell him that since the rally started with him saying "o-bomb-a", he needs to keep saying it to keep the rally going.

The fate of the market is in his hands

Tony said...

That's cruel. I picture TK curled up in the fetal position rocking back and forth holding his "Wall Street bull" statue, hair messed up, clothes disheveled, mumbling "O-BOMB-A, O-BOMB-A".

New Economic Indicators and Releases

What does Blue Horse shoe love?- Blog search of "BHL"