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, March 11, 2010

Ugh

I keep saying .... the market is killing my Joy!! and here is another example. It takes me an hour to put this together.... And I don't have against You, but I don't actually care enough enough to burn this time on it. But my ego is caught in it.


Tony knows I hate him, so he is outside the issue.... Just for your amusement, I was angry last friday..... mostly because I knew "The Dance was going to Continue", and I'm twice as tired as anyone else is.... and let me just mention that I'm adding this post to all the things on my plate.
On tuesday I noticed, that FINALLY we had a GOOD TECHNICAL SELL, on the market. THIS DOESN'T COUNT THE INDEX, But stock by stock... sector by sector, I felt it would start.
Now I'm looking back, to verify what I said, What I've seen suggests to me that it will be sooner rather than later, for the breakdown. Normally I'd say 4 bar domed top starting Tuesday, but it seems like it will be faster.

Even Worse is the VILE BILE put into my system every time I tune into CNBC... It's LIKE DYING EVERY MINUTE I WATCH... IT'S EVERYTHING WRONG IN OUR SOCIETY, AND EVERYTHING GONE WRONG ETHICALLY, and everything that we will correct over the next Socio-economic cycles. There is no chance, I'll watch it today.... I DID MY TIME!!!

Consumer Staples-sure it's a safety sector, but of course this and XLU were Leadership last week


Materials Last new high was Monday.
No new high since monday
Metals


and the industrials are now Struggling, though they maded a new high, they are struggling with the SAR.

Here is Schroedinger's Cat The upside breakout, and the downside. The technicals I see, suggest a final High Yesterday or Thursday.. today. Then a little bit of struggle. They all picked up their Calls and are waiting through expiration to cash them in... It's only next week.... the price is cheap... But this is going to force Mean reversion next week. and that should set the downtrend. I think the standard thing would be to hang onto the calls until Monday, but I think it is going to Fuck with them. They will wish they were selling them end of this week.
But still, over the next 1-3 trading sessions, I expect the rest of the indexes to make their Final Highs.



No new high out of IYR(I actually expect it to be one of the last to make a new high though, This is a wave 4)
Barely a new high out of energy, it seemed fairly Euphoric today.
No new high out of health care.

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