Looky looky, the whole crew is here. Chickyboy3, scalping doesnt predict gaps. Scalping doesnt predict anything, its simply getting out at the slightest loss and letting winners run a little longer. On another note, Every time this whole run up they run an upside down head and shoulder the arm completes by making a new high. My point is it has flipflopped. Also, I wouldnt get too excited by this drop. Max Pain SPY is $150. Perfect opportunity to drop the SPY. Way too many call options out there right now. THe house doesnt like to pay out often. Lastly, THe worse the global economy gets, the more cash they will throw at it. This run has more legs on it clearly. Which is why I scaled way down on my short postions. I scaled down to a point that I could survive a lot longer on an upward move. I scaled down to a size in a separate account that I dont have to look at or think about. But dont think for a second that I dont know this market is way overvalued. I just dont think we have hit the top yet by intraday price action.
My alarm went off!
And to the Duckman, I still got 80k shares TZA and 5k shares VXX in a separate account for the long run.
Did you notice the perfect head and shoulders they ran on the S&P yesterday which they turned into a perfect uspside down shoulder where the right shoulder has broken to the downside. I have noticed this entire rally the most common formation is head and shoulders where the right shoulder breaks up. So flip that around to an upside down head and shoulder and it breaks to the downside. Im not saying yesterday was the absolute top but as far as intraday patterns go a perfect reversal of patterns happened yesterday.
Im not in any direction, when you scalp you flat out at the close, thus you could give a rats #$%$ which way it gaps. And when you scalp you dont post messages because there is nothing to post. You see I have a sickness, I make all of my money scalping and then I try to be like George Soros and I give some back until I realize Im not George Soros. Im a scalper. Which is why I post for a few months and then im gone for 9 months. So good bye and good luck!!! Back to scalping where I belong.
Im a great scalper and probably one of the worst position traders on the planet. Thats how they trick you, its with the news. When you scalp you dont read the news, you dont care. I cleared out of my shorts, I had no choice. This could go on forever.
Look at the perfect upside down head and shoulders they ran on the futures today. All this market is doing is running patterns. We would all be better off if we turned the TV's and news feeds off and just simply watched the patterns unfold. So tomorrow will be a gap up, completion of the arm. Not like that surprises anyone. Another gap up, yaaaay!!!
Everything college professor's taught me was wrong. In Econ it was all about free markets, supply and demand, elasticity of demand, etc. They should of taught the whole world is rigged by central bankers instead of having to learn the hard way. There is no such thing as a free lunch? It should be, there is no such thing as a free market.
And nobody wants to play. 203 contracts on the bid by 257 contracts on the ask for an hour. The Rut is even worse, 1 contract on the ask and 3 contracts on the bid for 2 hours. I guess nobody trades anymore but THEM. They wiped everyone out.
It might be a black swan on social behavior, however, would have zero effect on the print press.
You are correct on that, this could go on for a long time, I have come to that conclusion. However a 15 multiple on the shares is ridiculous, considering there are still debt (bonds), preferred shares, warrants etc.
I dont know anyone that would buy a business with a multiple of 15. They may say 15 is normal but its not. Typically you will pay a multiple of 5 times when acquiring a business. Thats reality. Would you be willing to wait 15 years to receive a profit??? In 15 years you could be out of business.
for every 9.2 shares sold last week, 1 share was bought. Pretty crazy when you think about it considering markets went up. If anyone is wondering how the equity markets go up with 9 to 1 selling, the answer is really very simple. The equity market is driven by the leveraged futures market. I dont know the exact ratio but my guess is for every 100k in buying S&P futures they can unload 1Mil in equities. My guess is it is about 10 to 1. Doesnt mean markets drop tomorrow, they could do this indefinitely until they are 100% short before bringing it down.
Capitalism got hijacked by the banksters. INCREDIBLE
No such thing as a free lunch?
More like No Such Thing As a Free Trading Market.
So Good Luck and Good Bye. I have better things to do with my time.
I could care less what it does Im outta here. Its a rigged casino. Stock prices used to reflect future growth, now they are being used as vehicles passed back and forth between the banks to inflate balance sheets. I wouldnt be surprised if everyone is in on it, companies including increase in stock price to their earnings. The whole system is now one big joke.