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Unfilled Downside Gap


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Unable to watch the close, so this will be short.

 

The unfilled downside gap.

 

Haven't had one of those in awhile.

 

What we really need is another one tomorrow, followed by one of those 500 point red candles. One that wipes out a month's worth of Riverboating Profits in 5 trading hours.

 

But so far, the Asian Screamers like CHRB continue to get chased up 58% on huge volume, and other mainland hookers like JCOM make new highs.

 

No hard "crash" can take place until these Asian Girls hit the Depression Chamber.

 

Scam Week coming up. Are the shorts being set up for Wash, Rinse, and Repeat??

 

Buddhadropping, if you are out there, please weigh in.

 

Take it away, Bears.......

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For those of you playing along at home:

I sold my long postion in XLNX (bought at 25.45 with 20% add at 27.97) at 27.81. Went short at 27.81. Covered at 27.52. Went long at 27.55.

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The weak action in gold, which has slid about 9% since its year-to-date high on Feb. 5th, suggests that Al and the GSEs aren't pumping as much liquidity as the market wants. Or it's leaking into real estate prices instead of traded goods.

 

It seems like another lifetime when the central banks of the rich countries used to all pump at the same time, like a team of Clydesdales pulling the Budweiser wagon up a hill.

 

These days Uncle Al is limping up the road, Fukui-san is asleep at a cafe table, and Dim Wim is riding down the sidewalk on his bicycle, oblivious to both.

 

Does anyone smell a currency crisis coming this fall? Something is bound to happen to shake these functionaries out of their complacency. The Chinese and the middle eastern oil producers are getting restless about accumulating all that green funny money with the off-center pictures of old guys with long gray hair. I wouldn't trust that shit either.

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Sold the puts bought on the spx at 1004 yesterday @ 986 today (told ya) :P

 

Now straddled becuase I will be away till tuesday night and don't want to take the risk. I do see a vey shortable trade coming early next week.

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Sold the puts bought on the spx at 1004 yesterday @ 986 today (told ya) :P

 

Now straddled becuase I will be away till tuesday night and don't want to take the risk. I do see a vey shortable trade coming early next week.

Excellent call on 985-6. :grin:

I needed it. :) Tanks. It was actually Curry, I just follow that guy and Doc and a few others

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Does anyone smell a currency crisis coming this fall?

Gosh I hope so. Seriously, it should be obvious to everyone by now that pumping more debt money into the world economies is useless. Keeping corpses alive, cap ute low, and producer pricing power low is no way to run a werld economy. Give it up already. Them ole fogeys should quit and go play shuffleboard.

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Uncle Buck and the Long Bong Hit, and Doc's Closing Intraday Update are posted. Please use the links in the left column. My game plan is to try to have Uncle Buck and Long Bong Hit up by 3:30, and the closing intraday comment at 4:15. However, if I can't get Uncle B and LBH posted by 3:30, wll post at 4:15.

 

Tonight's Anals Market Wrapdown, and Fed Turdsday Releases will be posted by 7:00PM NY time.

 

Many tanks to all for being here. Have a great evening. See you in the Anals.

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