wndysrf Posted March 7, 2003 Report Share Posted March 7, 2003 Mark?s Market Commentary ? March 7, 2003 After today, I doubt we?ll have much of an audience. As usual the INTC miss and Elaine ?Mama San? Chao?s unemployment numbers were a disaster. World indexes hitting new lows in the overnights, but Al Green was busy working the levers and pumping the futures. And of course, after the big gap down on the open, Al had already phoned central bankers, HedgeHogs, and the Gang of 22 all over the globe, instructing all Program Robots to hit the buy button. And of course, the open saw us rocket up 200 points in a few hours. Yet another ?stick save? forestalling a disaster. Nothing has changed. Just look at any chart of the daily action the last 5 trading days, and you will see no pattern. Just a hysterical, random series of wild gaps, reversals, mania runs, spooky selloffs, and all the rest. The classic signature of HedgeHogs battling it out with trillions of dollars which refuse to exit the Arena, financed by Al Green?s Liquidity Machine, now working overtime, double duty, with the Treasury rates hitting record lows. Now, more than ever, even larger arbitrage opportunities exist for the spread traders. Who can miss when you can borrow from the FEED at 1% and parlay it into any 5% yield structured finance product using 100:1 leverage? And of course all that structured finance product simply gets turned into ?money? and is redeposited into the Arena, providing HedgeHogs with even more liquidity to speculate on the latest stock hitting new highs, trading at 90x earnings like EBAY, 35 months into the largest bear market in history, overlayed on the largest bull market in history in liquidity. I really have nothing else to say, other than repeating the same old stories over and over. But I hope I was able to save some of you from a blowout by warning you of the imminent jam coming last night, thereby keeping my promise of 2003. I covered half of my shorts today, and took some of the profits I had and took it down to the coin dealer. Another installment of depreciating cash, ejected out of The Matrix, and put into Real Money. Because now the pressure is on Al Green to cut rates once again, which will undoubtedly accelerate the Credit Bubble to Hyperspeed, and send the currency diving deeper into oblivion. No doubt we will get a rally going here for a few days, but my bet is that the percentage gain by going long will be offset by a corresponding decline in the value of the dollar. I suppose GTNWORSE is still long, and he?s still on the right side of the trade since the MACD has yet to cross over. So give the guy some credit?.He may be in for a nice March Madness Hayride at the expense of the short sellers who failed to step aside. Gotta watch out for the jam jobs, for they are expected to become a more regular occurrence as the next FEED cut and the MoGauge Blowoff accelerates the HedgeHog Madness. As usual, Buddha nailed it: ?Nice to know E-Wavers have this move all figured out. I am tightening trailing stops on my long position and will take the easy money any day of the week. Best play in the book is to trade with one?s government off a gap down or spike down thru lower Bollinger. Join the Dark Force, join Al Green, become a card carrying passenger on the Death Star, submit your will to the Way of the Borg and become a Robot trader in Outer Space.? ?I don't care much for philosophical alignments. If partisanship is imperative than hold short some leap puts. Give me a good gap down following days of selling anytime, I don't care if INTC is closing shop and O? Sama has just kidnapped Dick Cheney. I will go long since it is a play that is backed by the full faith and credit of the United States Treasury. One of highest probability plays in the book. The more hysteria the better. The worse the 'numbers' the better. Waterfalls are for honeymooners in Niagara. Strength over lunch does not bode well for bears at all, price keeps flagging up like a 17 year old porn star on 1,000 milligrams of Viagra. Looks to be gathering steam for a move to close out at the highs. Less attention paid to emotions and party alignment the better.? No Girlfriend of the Week. Because this week?s credit belongs to the Office of Plungeland Security and Federal Open Market Committee Program Robot. I wonder if ?it? will show up as the Special Guest on Louis Rukeyser tonight?.. Link to comment Share on other sites More sharing options...
h2orush Posted March 7, 2003 Report Share Posted March 7, 2003 Indeed Mark, no method to this madness whatsoever.....Per my comments today in intraday stool, I have now joined your camp....I can't short anymore (except my 10,000 shares of Ebay@80 paper trade so I feel good when it tanks)...I will scalp long and hold long term puts.....that it......Too many shorts out there now just like there were too many longs in 1999-2000. I have joined the Darkside, the deathstar, and yes, I'm siding with Al Green. Link to comment Share on other sites More sharing options...
machinehead Posted March 7, 2003 Report Share Posted March 7, 2003 "This week?s credit belongs to the Office of Plungeland Security and Federal Open Market Committee Program Robot." ... and their sorcerer's apprentices. The Japanese government placed a weird "positioning" ad on Crapvision at lunchtime. It highlighted Japan's "Peace Keeping Operations," doing noncombatant work in Afghanistan and elsewhere. "PKO" just happens to be the acronym for the infamous "Price Keeping Operations" which have kept the Tokyo Stock Exchange moribund and rangebound for years. Alert Stoolies will realize that the suspicious "PKO" ad was a coded signal from the PPT to activate its sleeper cells. They duly carried out their fear-inducing price keeping operations during the final hour, pushing the large-crap averages to a close near the daily highs. Until Crapvision's subversive broadcasts are stopped, we have a tough row to hoe. Link to comment Share on other sites More sharing options...
purdymouth Posted March 7, 2003 Report Share Posted March 7, 2003 QQQ Ambush Lurking Link to comment Share on other sites More sharing options...
bubbadropping Posted March 7, 2003 Report Share Posted March 7, 2003 Windy, its getting almost too easy to see these blasts coming. I can't remember a 2 day 5 minute index chart over at BigCharts with an emerging positive Macd that didn't fulfill, I think it must be the same scan the Lizard King uses to daytrade off of. It may be time to change your avatar again and post the lovely backside of some Asian beauty in a leather thong. Ah, the wonders of bottom picking. buddha Link to comment Share on other sites More sharing options...
Guest Posted March 7, 2003 Report Share Posted March 7, 2003 Jim Bunnings words to the Greenman were a clear signal to us and a pointed message to him that he had better cooperate with the Bushman or else. Turn on the pumps Al and keep them running or the administration is going to ruin you. Not that Al needs much of an excuse anyway. He sure as hell doesn't want to be sitting in the drivers seat when this pile hits the wall. Doc keeps saying that it isnt' the government. It isn't the PPT. It isn't the FED. Doc had me going there for awhile. If Doc thinks that everyother day pumps, jams and ramps as well coordinated and funded (along with supporting media disinformation) as we have been seeing are being pulled off by Fido and Scudder then I'd hate to see what is going to happen when the others decide to jump in. Link to comment Share on other sites More sharing options...
PileDriver Posted March 7, 2003 Report Share Posted March 7, 2003 I see the QQQs held up to their constant dollar money market objective. What a joke! How anyone can play that played-out whore and turn coin is beyond me! :grin: Link to comment Share on other sites More sharing options...
Charmin Posted March 7, 2003 Report Share Posted March 7, 2003 Exactly like Mark says: Jeff Walker at http://www.lowrisk.com Dateline: 9:45 pm eastern time, 03/06/2003 One of the biggest negatives is that we have been seeing little panics to get into the market, rather than panics to get out of the market. The last two days we have seen the Tick spike up over +800 numerous times, and we have seen it above +1000 a couple of times. This is a sign of "let me in at any price" type of buying. Of course, not a thing has stuck on the upside. Link to comment Share on other sites More sharing options...
PileDriver Posted March 7, 2003 Report Share Posted March 7, 2003 Mark, not exactly sure being long is the "right side of the trade" :grin: When you're playing the dongs just remember where you are in the big pic or else you will get your ass kicked. You know where the big money is made. Link to comment Share on other sites More sharing options...
coboy Posted March 7, 2003 Report Share Posted March 7, 2003 From Linda Raschke : Just take out the first 120 minute bar of the day, and you will see that this day has been the same old boring action that we have seen for past few days..yawn (joke). IMO, the bullish evidence is piling up. Doesn't markets make a false move out of trading range first and then reverse and spike in the opposite direction ? Of course that's conventional wisdom, who knows these days.. As long as OBL is "about" to be captured, all bears will be on spikes and cover immediately.. As long as war is close, PPT will never let it go down.. And all those bradley dates are lining up too.. Thanks for warning us Mark, should have listened to you before.. Link to comment Share on other sites More sharing options...
simple guy Posted March 7, 2003 Report Share Posted March 7, 2003 Most of you have gone delusional, part of a third wave "fuzzy" thinking mentality that sweeps the public psyche.... I understand. SG predicted on IDS On Monday 23.95 on the Q's using simple E wave analysis and Fibo Nacchos to figure it out. Today we hit 23.96 as a wave 5 bottom.... The retrace was your typical hysterical retrace that we keep getting off wave 1 bottoms. The dances of 1's and 2's continues. However, the trend in this 3rd wave is surely going down and not even near complete. Covering shorts is not a good move unless you are worried about a 1 day move or something. Play an intermediate term position, because the 3rd wave is not even close to ending... Read my thread tonight, get some perspective. There is no PPT, there is no magic working of the levers... And yes... the E waves are consistently correct.... to the penny for me this week almost ,and the upside move today was a clear A-B-C. I also predicted last night and this am that traders were caught flat and would make sure to get short... they did, they are... 22.90 next bottom... you heard it here... again.... Link to comment Share on other sites More sharing options...
Slothrop Posted March 7, 2003 Report Share Posted March 7, 2003 No. A rate cut here takes the market lower. Counter-intuitive. Bear market works the other way. It may create a one-day pop, but sharp traders smell the desperation. Link to comment Share on other sites More sharing options...
wndysrf Posted March 7, 2003 Author Report Share Posted March 7, 2003 OK, Buddha.... Make sure you check out Hamilton's piece provided by Purdymouth.... QQQ Ambush?? Wouldn't it be funny to see EBAY or AMGN nailed in some major accounting fraud to cause a huge collapse which nobody expects? Just noticed how the Supermodels did nothing today. I went long QueerLogic and NoVulvus and they went nowhere... Kinda strange... Who knows, Monday could be a giant gap up. Alan Newman and Bob Carver both suspect a sharp rally, followed by a massive reversal.... Link to comment Share on other sites More sharing options...
TheDeepBlueSea Posted March 7, 2003 Report Share Posted March 7, 2003 Mark?s Market Commentary ? March 7, 2003 No Girlfriend of the Week. Because this week?s credit belongs to the Office of Plungeland Security and Federal Open Market Committee Program Robot. I wonder if ?it? will show up as the Special Guest on Louis Rukeyser tonight?.. Turns out "it" is a She . . . Metropolis: music by Nine Inch Nails Link to comment Share on other sites More sharing options...
ThorAss Posted March 7, 2003 Report Share Posted March 7, 2003 Agree vis supermodels. Have a look at the SMH. Is that the famous two peaks and a domed house candle pattern? Are we not rolling over? I'm short the SMH and am far from panic. Link to comment Share on other sites More sharing options...
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