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"

Thursday, June 18, 2009

This is what I see

XLB down XLE down..

that is not good for the hyperinflationists....

my dollar trade is still in the money

shit we are going lower

12 comments:

Tony said...

Man, I did not anticipate that whipsaw. 92.31 is either a really good entry point, or a pause before we go higher.

I may just go golfing.

Eric said...

it could still move 92.6

Eric said...

I'm not sure you want to quit today...
as a flag the target is like 86...

I know it sucks when I do those...

Tony said...

Well, I got very short various sectors at SPY 92.31 so I'm in for now.

I had some SJM that I sold at the open, so I have some cushion. I'm having a peanut butter and jelly sandwich for lunch in honor.

Eric said...

but again... we want to see it move..

not muddle for 2 hours..

Tony said...

Yup, this is looking like another bullshit chop day.

Tony said...

Is this a bear flag, er what? I'm not sure I can watch 8 cent flags all day.

Maybe I'll just set some trailing buy-stops and come back later to see if I lost a grand or gained 2 grand. lol.

Tony said...

DBRN. How's that for your basic crappy retail stock. Dresses for fat chicks.

Tony said...

One more comment: SMN bounced off support and now made higher low. Entry?

Eric said...

Maybe....

this doesn't seem like a bad entry..

but the dollar HAS TO GET STRONGER!!!

Tony said...

If you wait for the dollar to strengthen, you'll miss the trade. Stick with the thesis: dollar is oversold...

unless, of course, it's a bull flag...

Hmmm.... now you have ME wondering.

TLT dropped right down to resistance, broke trend line on the way... It really needs to turn up here.

Eric said...

a breakout of that support...into a trap..

would be normal...

even on a daily

so it could close below the low...

sell, Pause and reverse...

the dollar has a pennant going.. which could take the index up to my yellow line 92.8...

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