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.
Some figures from 1992-2007. Ridiculous!
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.
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.
Harley Davidson is in the house at work today. It’s slightly less classy than normal.
More importantly, the market tried to rally to new highs yesterday, but ran out of steam by the end of the day. The tech sector especially ran out of bullets, AAPL went from +12 to -2….YUCK Looking for more choppy action today. Let’s see what that hammer brings us.
The markets are dragging ass this morning and I have nothing constructive to add so I wrote this poem, some of you may remember it from your childhood.
It’s raining, it’s pouring
The old man is shorting
He went to bed, got some head
And woke up WAY richer in the morning.
Sorry guys, you are gonna have to pass that pipe to someone else. I remember the D.A.R.E. commercials and this looks like it leads to ass rape.
The 1 hr chart shows the breakdown of a major support line. I wonder if KY jelly has gone up as much as the other lubrication products?
The daily chart shows aapl getting black fucked pretty hard on this one. Who know’s what happens from here, does Peter North join and make it a interracial slop fest? Perhaps magical fairies from Israel step in and buy it with all the profits they have made from gun sales this year?
Regardless, my inventory on AAPL has changed dramatically over the last two trading days and its anti hopium, high probability, tested vega positive.
Somehow this is relevant.