DrStool Posted November 17, 2021 Report Share Posted November 17, 2021 Look at this hourly chart of the ES S&P 500 fugutures. It's obviously a top, right? Well, not so fast, cowgirl! What if we just move the chart over and down a bit. Then what does it look like? Uh huh! Now I'm not going to play pretend and act like I know which this is. I'll let the market tell us. It's pretty clear that if they don't break 4675 later today, this sucker is likely headed for the freakin' moon. This top/bottom pattern would have a conventional measured move target of 4795 if it breaks out to the upside. I don't think it would get there today, but if my house can go up that much in a month, why not the stock market. Inflation, gone is my heart. Inflation, keeps us apart. Why talk to me. After my podcast interview with Lindsay Williams of the faux Brit accent, I got a phone call from your friend and mine, Greg Fokker, who ripped me a knew one (sic) for not leveraging up in my old age. I decided that he was right. So I'm going to take all $50 in free cash to my name while I await the cash out from the sale of my multi-million dollar Florida, soon to be waterfront, manse, and I'm going to borrow free money from European banks, and run around Europe buying apartments in all the digital nomad hotspots. It reminds me of The Graduate. Then it was "plastics." Now it's digital nomad apartments. With plastic. Czesc and Dziękuję for the birthday wishes! 7 hours ago, Jimi said: Yes. Happy birthday. May it have been rich with... Polish sausage? I will receive the blessing of the pierogis from a priestess of the Kuchnia. This is a sect of Polish grandmothers who have spent the decades since their formative years under Communism in silent toil and devotion to the familial ritual of dumpling perfection. No wonton, no gyoza, no kreplach, no ravioli or tortellini can know the spiritual perfection achieved by these priestesses, such is their years of secret prayer and devotion. Yea though I walk through the valley of the chopped onions simmered in bacon grease, I will fear no evil. Amen, and do zobacenia! For more on the big picture and elsewhere: Gold Breaks Out, Sets New Targets, Miners Move Benefit of the Doubt to the Upside Until Proven Otherwise The Fed Pulls The Plug, Macro Liquidity Cruiser Starts Its Turn Buys and Sells in Balance in Swing Trade Screens Why Jerome Powell Had a Frog In His Throat Link to comment Share on other sites More sharing options...
potatohead Posted November 17, 2021 Report Share Posted November 17, 2021 Lee has been on this from day one... FED'S WILLIAMS: WE NEED TO LOOK ABOUT HOW TO SHORE UP THE TREASURY MARKET SO IT CAN BETTER ENDURE THE NEXT BIG SHOCK Link to comment Share on other sites More sharing options...
Mkucstars Posted November 17, 2021 Report Share Posted November 17, 2021 TPTB is scared Powell won't get the nod. And why should he with all the fraud he's overseen? Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Hey there boys and girls. Do you know what time it is? Link to comment Share on other sites More sharing options...
Jorma Posted November 17, 2021 Report Share Posted November 17, 2021 The ConCon number is diverging from stocks again like 07 but the ConCon is now strongly influenced by The Party so I don't know what kind of indicator it might be. Link to comment Share on other sites More sharing options...
Jorma Posted November 17, 2021 Report Share Posted November 17, 2021 What time is it there? Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 24,000 new positive tests in Poland today. Lowest testing rate in Europe implies far higher infection rate. 463 deaths, rising exponentially. Low vaccination rate means this country is headed for a stunning death toll. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 19 minutes ago, Jorma said: What time is it there? Does anybody really know what time it is? Does anybody really care? Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Six hours later here than US Eastern Time. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 All of Europe west of Belarus and Ukraine, except Portugal, is on Central European Time. Spain should be on GMT, but they're jackasses. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Greece is on Eastern European Time also. As I recall, the time zone changed when I went from Croatia to Montenegro. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Exciting day today. Never short a dull market. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Although the summer of 74 was unbearably dull and a great time to be short. But the market had already been trending lower for 18 months. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 The good old days. Link to comment Share on other sites More sharing options...
DrStool Posted November 17, 2021 Author Report Share Posted November 17, 2021 Today I was walking in a big park here and came across a coffee cart. They're a lot more elaborate than back in the day when I had mine. Built in generator and a huge espresso machine, driven by bike power. I literally pushed mine out to the corner. Yes, I was a pushcart vendor! Coffee, donuts, and bagels. At the end of the morning, I'd shut down, and by noon I'd be in the peanut gallery at Walston and Company, glued to the Bunker Ramo, pounding out quotes, pulling tear sheets, running to the ticker tape on Thursday afternoon when M1 came out. Pushcart coffee vendor by morning, hot young trader buying and selling 100 shares of EMI in the afternoon. In those days, the commission was more than the price of the stock. It didn't take long for Wall Street to take all your money. And still, all the big brokerage houses managed to fail anyway. Those were the days, my friends. We thought they'd never end. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.