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"

Saturday, April 3, 2010

I hate you.... Chapter 8

Tony will get that little joke!

Y'all don't get the fun that Tony and I have periodically. Tony is Italian, and I'm Mutt Irish/... and some other stuff.

But I'm not that fucked up "Ginger" Irish... Not that there is anything wrong with Gingers. Except when you are irish, you know that .... Well, the Irish Know all about Gingers, And those secrets are safe with me.

Italians like to yell at each other. The Irish Like to Fight. The combo is amusing. I'm always trying to get him to take a swing at me, and he is just barking all the time.

Like the saying goes.... "Are you going to bark all day little doggy, or are you going to bite?"

One day, I reminded him that the Italians are just glorified Mexicans. You would think out of a couple Liberal, Progressive guys, we couldn't come up with language like this.

So, Last post... I told him, he should get a life, and he told me I should build the DOW 11K hat. Which He may be correct about(that I should build them, who knows if we are going there.)

Just to be clear, I think he called me an "Italian woman" this week, but there is certainly a problem, because Most Italians can't make Italian Food for shit. And have no clue what they are doing with Tomatoes...

But I think, that I told him a week ago, that maybe if he dropped some weight, the little woman would let him be on top.

But it's all in good fun. And I thought Blog readers might enjoy... some of the periodic Bile and Spit that goes on around here.

Once we accept our limits, we go beyond them. -Albert Einstein
A person who never made a mistake never tried anything new.
Albert Einstein
I'm sure these are made up internet quotes.

here is the Chart on the SPX. I'm not here to teach chart reading.... But I want to say, what I said to Tony. THERE ARE A TON OF THINGS WRONG WITH THIS CHART! Also, what I tell him about all the "Lines" and horizontal lines... YOU HAVE TO WATCH OUT FOR TRAPS. For the most part... THIS IS 'STICK TO YOUR KNITTING' Stage. Don't let the siren song get you, and just trade the market. Where those green arrows are are VITALLY Important, "Support"
I guess, if you want to play the long side, that is where to look, but maybe after a pullback on monday.(I'm not saying to do this, that is your game.)

As we ended the day... I pointed out to tony, that I had a ton of charts that showed this pattern.(it was just as the bounce was starting to happen.), and that there needed to be a bounce. And we got it. But again... This is not a bullish chart.... If it can hold the line, Great... but it's not a flag.. It doesn't seem to be any consolidation, I've ever seen. And these charts are everywhere.

Sentiment... I'm not sure how the Blogs are, We will see, and it had and still has me cautious. But I'm sticking with my Knitting..... Trade the technicals.... and overall... there is certainly plenty of positive sentiment. I will be curious about monday...and we will see how they are.. Its good to be cautious.

MIND YOUR KNITTING!!!! that is the call..... and that is where I am.... that is my .. Non Sentiment.... Keep your shit together, and Keep your head together When all else are Losing theirs.

Another note.... I'm not all that into making the 11k dow hats, but I'm tempted... I honestly have Other shit to do... There may be snow on the ground, but the spring has sprung, and there are things to do, and adventures to be had...... Besides... Blogging and Twittering and sitting on ones Pie hole at a computer.

Chapter 9

1 comment:

Tony said...

Good stuff. I wish my sainted Sicilian grandmother were alive to actually see a mutt-Irishman criticizing Italian cooking. Laugh-riot.

This market is untradeable on anything bu intraday becuae it fails the Gartman rule--- the chart does bot go from lower left to upper right, or vice versa. It's flat.

Looking for the intraday pivot on the 5 or 10 minute is where the scalp money is to be had.

Keep the Dow 10K hats... they'll be back in demand someday, lord knows we NEVER cross that line up or down.

WTF is going on with AMZN? Is iPad goign to kill Kindle or save it? As long as that f&%king stock is above 125 I have no faith in humanity.

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