Archive for October, 2013

Sky not falling. Sky’s the limit. Do not take this seriously.

Posted on Oct 28, 2013 by .

1

1028spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

 

Here is our basic chart where we see a new Basing Point and raised stop.  Each of these stairstops means more profit locked in.  This could be very important considering what we will consider next –namely sky’s the limit.  We checked out the PnF charts at stockcharts.com and came up with the following:

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Scorn contempt and disdain (26 characters) oops. left out chutspah…

Posted on Oct 26, 2013 by .

2

“gall, brazen nerve, effrontery, incredible ‘guts,’ presumption plus arrogance such as no other word and no other language can do justice to.”

Twitter where is thy sting?  And could we be referring to anything other than Twitter?  Twitter is a pig in a poke and a monumental example of chutspah.  (In the pejorative sense.)

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Buy buy buy… (just kidding… but…)

Posted on Oct 21, 2013 by .

0

1021qqq

 

 

http://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=0&mn=6&dy=0&id=p10072938397&a=266692690

We jest — giddy with delight that Washington took the gun away from the head of the economy (until February…February?  OMG not again).  But live for the moment.  And in the moment it looks like you can throw darts at the market (hopefully not popping any bubbles) and hit a good trade.  So we bought the Qs (leveraged up with QLD).  Here you can see it breaking out.

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After the party… (the tea party)

Posted on Oct 17, 2013 by .

0

1017spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p57309614995&a=266398464

Reeling with a head splitting hangover from the excesses of the last two weeks we solemnly swear off tea and swear — never another drop.  The market was surprisingly benign — especially considering the cataclysmic consequences of a US default.  Just stumbling drunkenly near the precipice will cost the Treasury (that’s us folks) billions of dollars.  The Chinese have already downgraded our bonds.

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At the mercy of the suicide bombers…

Posted on Oct 15, 2013 by .

0

1015spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

A poll just taken said that 60% of Americans would like to see EVERY member of Congress replaced.  Only 60%?  What’s the matter with the other 40%?  Oh, they’re not paying attention.  Or they don’t think it matters.  It does matter and the market is like a weather vane.   As this is written futures have just moved almost 13 S&P points (to 1706).  That means they are betting on a solution to the debt limit and shutdown.  They probably have a spy inside who is keeping them posted.

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