If you're short, I'm the sucker going long....: bla bla bla

Tuesday, April 28, 2009

we will see... something or other...

I'm to that throw up my hands point.... there is a horror show of the small ascending...

Tony said...: How many times has SPY bumped up against 87? What's your rule, 3rd or 4th time goes through?

XLF has a pennant, too, or is an ascending triangle, or a triple top? Maybe I need a walk.

The stealth tell is the TLT. Santelli's going on about the possibility of a new 50-year bond as the reason for the TLT sell-off, but let's add this up:

GLD, SLV and TLT all drop despite the breathless news of a worldwide deathly virus outbreak and banks needing more capital and housing in the tank, yada, yada, yada.

Meanwhile, the technicals are showing an ascending triangle or pennant which has odds of resolving up through massive resistance...

A move either way could be big. Fourth bump up against 87 could be magical... or disastrous.; April 28, 2009 at 3:14 PM
Eric said...: 3 times then you get a small pull back and it goes through... so it's like 4; April 28, 2009 at 3:17 PM
Eric said...: the stelth tell is gold; April 28, 2009 at 3:17 PM
Tony said...: 4th time... hmmm.

Gold's lack of performance is surprising to me. With all the hysteria, if you had told me that it would be my worst holding today, I would not have believed you.

The market is telling me: No fear.; April 28, 2009 at 3:27 PM
Eric said...: so... Contrarian? is No fear... a good sign of a top...; April 28, 2009 at 3:29 PM
Tony said...: Patience. We'll find out soon enough.; April 28, 2009 at 3:57 PM