Market looks weak today, particularly the financials. All kinds of doom to go around, but the most important thing to me is the bearish candle from today on the /ES. To me, this candle suggests a consolidation into tomorrow, perhaps even a revisit to the May lows before we can rally again. Let’s see what unfolds, but for now I’m positioning around that revisit to the May lows, I have 1 or 2 small positions on to speculate now but I’m going to hold off on executing a lot of orders until tomorrow morning.
/NQ 2500 and /ES 1295 are particularly interesting levels for me to jump in.
This image is particularly fitting for today.
The daily chart of the Nasdaq looks ugly! Jon, the daily chart of the Nasdaq looks ugly. Ugly as in bearish.
P.S. this is a hint for you to find premium and let the market come to you, not to trade directionally just yet.
Interesting quote I cam across this morning:
“Too often we excuse those who are willing to build their own lives from the shattered dreams of other human beings.” -Robert F. Kennedy
I am expecting a bit of a bear rally here. The market is pretty oversold, a bit of a rally would be healty for a permabear’s diet here. Let’s see what unfolds. Huge price action today! Lots and lots of option premium to be sold here.
Brazil looks nice!
We’re ready in Advance. And hopefully taking advantage of a gap fill!
These will all be swing trades to the upside for me. Small positions. I’ve still got my eye for new short plays. I still think there could be a rather significant move to the downside in the pipe, but for now, I am mildy bullish.
Just follow the light of the great Mufasa.
Both of these men have rocks in their heads.
Krugman is just plain and simple, off the deep end stupid. Holy fuck! Who gave him a degree?
Ron Paul, you tout “Inflation is theft” yet, never do we hear about you stopping the debasement of our currency by private banks. End the fed, audit the fed, be the fed, fed this, fed that, competitive currency? How do you plan on doing this with private banks destroying it at the governments will? You have lost your mind. And shut up about gold already. Yes, it has been a good investment against the dollar since the crisis, but short of buying shares of Netflix, so has everything else commodity related. That inflation is partially YOUR fault. Shut the fuck up! All of you: Obama drama, Paul, Krugman, Romney, EVERYONE!
Make the left side of this image return. Then I’ll listen.
Pretty epic conversation took place just after the opening bell this morning.
Chad: I’m going to buy this stock.
Me: Me too!
Marissa: What! You are buying it solely because he is?
Me: That’s right.
Marissa: If a friend jumps off a bridge…would
Me: yeah, but I don’t want him jumping into a pot of gold by himself.
Marissa: haha. Whatever.
Chad: Co-signed, sealed, delivered. It’s mine!
Me: It’s about to be Ducktales in this bitch!
Marissa: OK Scrooge!
Chad: A wooo oOOo
(Chad is my boss, CEO, and father of 3)
Markets left child position to rally quite a bit today, S&P has reclaimed 1400. I only closed positions today, nothing new or constructive to add here.