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Shorts Face a Come to Jaysus Moment This Morning 3/24/21

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European markets opened with a pop, turning hourly cycle indicators on the ES - S&P futures to the buy side. Those who went out short last night now face a "Come to Jaysus moment." Whether they survive to fight on or not largely depends on two numbers. 3915 and 3924. If those hold, the downtrend stays intact. 

If they don't hold, then there's a no man's land from 3924 to 3930. Above that they fly. Below we wait and see. 

tvc_e008cca2db1ff7879874ac93858f75b0.png

 

 

 

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Sad face. After being at 5002-5003 Twitter followers all day yesterday I'm back to 4999. 

There I go pissing people off again. My guess is that this time my liberal followers were peeved at my criticism of godfather Obama and Consigliere Holder. Also a favorable mention of Ronny, something I rarely do. 

E'S FREE THINKING

When the Game Gets Too Big, the Criminals Win, We Lose

by Lee Adler •  • 0 Comments

The Fed has been funding an enormous and ever growing confidence game for decades. The gangsters that run the game always get paid. Always. Related to that, I got this note the other day from a Liquidity Trader subscriber which I thought raised some great issues and questions that other folks might be asking themselves. 

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YES...THE GREAT MORTGAGE FINE FEST

Wonderful memories...the great mortgage fine fest.

BAC got taken for $60 Billion almost half the total fines of $150 Billion.

All because they took over Merrill Lynch and Countrywide.

Toxic garbage takeovers.

Basically they bailed out the Government who otherwise would have been left holding the bag.

Both terrible deals for BAC.

Suggestion to BAC for the next financial crisis:

If the government approaches you to takeover a failing Bank just say no.

If they make you an offer you "cant refuse" make sure the agreement in writing compensates you for any fines, legal fees, civil penalties or settlements that the taken over institution has to pay.

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Here are my daily technical stock screens of 9000 issues on the NYSE and Nadsacs that I use to pick stocks for my ready list for my personal trading, and also for my weekly swing trade chart picks for Technical Trader subscribers.

After running the screen for short term buy and sell signals on stocks that have been trading more than 1 million shares per day and are trading above $6 I visually review the charts. From that review, I make my picks.

There are usually between 2 and 8 good looking setups every day. The numbers are bigger around intermediate term turning points.  

Today's screen had 11 buys and 28 sells. One of the sells was an inverse commodity fund so that one goes in the bullish column. Therefore, 12 of the 39 signals were bullish. 27 were bearish. That's 5 more bullish charts than yesterday, but still heavily on the sell side suggesting the market is not ready for a serious rally yet. 

Here's the raw data. These are not recommendations. If you're interested, take a look at these in your own charts. I report. You decide. 😀

Symbol Buy Sell 500 200 125 50
AES 1 0 0 0 0 1
TEAM.O 1 1 0 0 1 0
CTXS.O 1 0 0 0 1 0
CLVS.O 1 0 0 1 1 0
ETRN.K 1 0 0 0 1 0
FDX 1 0 0 0 1 0
GOGO.O 1 0 0 0 1 0
EWT 1 0 0 0 0 1
LSCC.O 1 0 0 0 0 1
PAGS.K 1 0 0 0 1 0
TWST.O 1 0 0 0 1 0
ALT.O 0 1 0 0 0 1
CHTR.O 0 1 0 1 0 1
CTSH.O 0 1 0 0 1 0
CVA 0 1 0 0 0 1
CREE.O 0 1 0 0 0 1
CCI 0 1 0 1 0 0
EURN.K 0 1 1 0 0 0
HSBC.K 0 1 1 0 0 0
LITE.O 0 1 0 1 0 0
MPW 0 1 0 0 0 1
NNN 0 1 1 0 0 0
OI 0 1 0 0 0 1
PFE 0 1 0 1 0 0
PVG 0 1 0 0 0 1
PLD 0 1 0 0 1 0
KOLD.K 0 1 1 0 0 0
RLGY.K 0 1 0 0 0 1
RPAY.O 0 1 0 0 1 0
RSG 0 1 0 0 1 0
SIRI.O 0 1 0 0 1 0
TLRY.O 0 1 0 0 0 1
TJX 0 1 0 0 0 1
UL 0 1 0 0 0 1
VALE.K 0 1 0 0 0 1
VZ 0 1 0 0 0 1
VKTX.O 0 1 0 1 1 0
WCN 0 1 0 1 1 0
Totals 11 28        

 

Here's an example of one of my charts. It's just alphabetically first, not a recommendation. 

It had one of the types of sell signal the screens look for, and I think it will probably go lower over a few months, but I'm not interested in shorting it here. Too close to support. It will bounce around. 

image.png

Click to engorge.

Meanwhile,

A Little Pullback with Big Implications

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If you are a new reader, please register and join in. 

To post your observations, and snide, but good-natured, comments, click here to register. Be sure to respond to the confirmation email which is sent instantly. If not in your inbox, check your spam filter. 

 

Meanwhile, Liquidity Trader Presents for your listening and dining pleasure:

Faint Hope, or Just a Feint, for Gold – Link Corrected

Bank Deposits Chart and Data Correction

This Trend of Bank Deposits Should Scare the Hell Out of You

The Day of Reckoning Is Upon Us

And free stuff from WSE that you should enjoy. 

LEE'S FREE THINKING

When the Game Gets Too Big, the Criminals Win, We Lose

by Lee Adler •  • 0 Comments

The Fed has been funding an enormous and ever growing confidence game for decades. The gangsters that run the game always get paid. Always. Related to that, I got this note the other day from a Liquidity Trader subscriber which I thought raised some great issues and questions that other folks might be asking themselves. Hi Lee, I’ve been looking…

 

LEE'S FREE THINKING

Here’s What Fed’s Reverse Repo Scam Means

by Lee Adler •  • 0 Comments

I got this great question from a Liquidity Trader subscriber a couple of days ago. Hi Lee, The NY FED issued this notice last Thursday. Doesn’t this mean they’re reducing liquidity in the system? Thank you for the great work you do, you are the only one informing the public of the true nature of the beast. Chet My short…

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If Americans had to pass that test to get a driver's license, there would be no cars on the road. It was an eye test, which made me think I was blind. And then an IQ test with series of shapes.  I barely got through half of them in the 10 minutes allotted. Now I have to go back in 2 hours for a doctor's exam. 

They told me, "Don't worry. It's digital." 

😲 

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2 minutes ago, DrStool said:

If Americans had to pass that test to get a driver's license, there would be no cars on the road. It was an eye test, which made me think I was blind. And then an IQ test with series of shapes.  I barely got through half of them in the 10 minutes allotted. Now I have to go back in 2 hours for a doctor's exam. 

They told me, "Don't worry. It's digital." 

😲

If they only had the same tests to become a Federal Reserve board member or Robinhood trader

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Oh, those guys are plenty smart. They're just crooked. 

The problem is that most people want a certain level of corruption as long as they are the ones benefitting. 

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