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Al Green Gropes J-Lo Bottom


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#1 wndysrf

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Posted 17 November 2003 - 04:51 PM

Once again, The Matrix was looking down the barrel of a CRB explosion and managed to stuff it for one day.

With trillions of Interest Rate Derivatives, T-Bones held by anxious foreigners, the Real Estate Bubble, and other assorted maladies at stake.......

Al Green could not afford a runaway CRB to trigger a panic in the bond market.

Therefore, a gigantic $17 billion Repo Blast was dropped from the Fiat Helicopters this morning. After all, with a $67 trillion budget deficit, what's another $17 billion?

Gold and Silver were crushed, the U.S. Dollar futures were jammed, Euro and Energy futures crushed, just your basic co-ordinated effort to revalidate and resubstantiate the Fed's view:

"There is no inflation........"

And of course, the 50-day on the stock market was "defended" by the RepoMen on all the major indexes, after Japan's overnight disaster on the Nikkei.

The usual S & P futures jamming came in at 2:00pm Helicopter Drop, evidence that the indexes were once again "groped" by Al Green to make sure the 50-day held like a thong strapped to J-Lo's bottom.

Never before have I seen such blatant manipulation and desperation among The Matrix Agents.

................................

Ag's Nightmare pretty much sums up.

My take on today is this is nothing compared to what a is coming when the trend shifts for good. Lot of stuff just stopping at the 50 MA and sitting there like feeding pigeons on a park bench.

What I want to see is how this reacts on the first ramp attempt. Bears have just spent 14 months having Al's wingtip shoved up their backside, and though this feels better to them, the bulls still have the upper hand until 9500 goes, imo.

As a bear I would be carefull here but have your targets lined up in your sights. There should be something blowing up even if we rally if this is truly breaking down.

One that looks kind of interesting is ADTN, the 280 million dollar garage painting stock. Yuch.

There is a good chance we could be sloppy right through January and there will be good days for bears and bulls. These guys still have a few more "excuses" left in the bottom of the bag. Saddam, trade tariffs lifted, Binnie, and the Fed bullhorning world tour which kicks off pre-Open Mouth Committee in December.

Don't forget the Santa Rally and "January Effect" crap either.


Many of the Riverboater's Business Daily Top 100 stocks are rolling over:

http://stockcharts.com/candleglance?ERES,S...#124;C|D20
PigMen Proprietary Trading Desk

The Weimar Run: Bullphoria!!!!

#2 DrStool

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Posted 17 November 2003 - 05:05 PM

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#3 machinehead

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Posted 17 November 2003 - 05:08 PM

No home run today for bears, but a solid single. The Nasty and the Trannies endured particularly sound thrashings, both declining more than one percent.

Charts broke to 15-day lows intraday, on almost every index. Chances are today's lows will be revisited.

The 30-year T-bone touched 5% even during the day, suggesting some flight to quality action.

In the 5 months since June 17th, the SPX has risen 3%. After the March lows, it was basically 3 months of sharp rally, followed by 5 months of gently upsloping flatline. Now what?
"GOLD -- it's not just for misers anymore."

"Dollahs -- fire-starters for the K-wave winter." - Drano

"Three humps and a dump." - anotherone, 21 SEP 2004

"No gold was harmed in the making of this movie." - Bizarro Greenspan

[i]"Da Track. Da place where Morons bet on Animals Controlled by Criminals."
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#4 Ned38

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Posted 17 November 2003 - 05:08 PM

I gotta figure "they" weren't gonna let the US Markets pull a Nikkei today

So Al and his band of merry men force a bounce at trendlines and the 50 and bet the ranch on a bounce overseas tonight which can be used to lift the US markets tomorrow.

#5 soup

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Posted 17 November 2003 - 05:10 PM

One thing is very clear, the fed feels that lower stock prices are unacceptable. ANy decline in the indices must be aggressively bought. SO this begs the question, how bad are things really, I mean if they are that scared shouyldn;t I be? The rise in the stock mkt is a clear bet on central planning being succesful.
""Pretty bubbleheads preen daily on our financial networks, playing the shill to Wall Street and Washington in order to lure unsuspecting Americans into buying insanely overvalued stocks. The great market exchanges, once prudent arenas of investment where the engine of capitalism traded value for value, have become sham casinos staggering under decades of massive Fed created debt and lurching into oblivion on the greater fool theory. Yet our high level bureaucrats, led by Alan Greenspan, exhort all Americans to consume still more of their seed corn and seek still more fools." N. Hultberg

#6 Slothrop

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Posted 17 November 2003 - 05:12 PM

I have a 13-day low on SPX, but who's quibbling?

That means the touch and go of the 50-dma is not to be trusted as a bullish indicator. Not quite a hammer on SPX -- it's something else.

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Posted 17 November 2003 - 05:12 PM

I cannot post on bullstew.com, under the same registered name, doc, anything i need to do in "my controls"? Thanks!

#8 Sphinxter

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Posted 17 November 2003 - 05:17 PM

Nibbled a few shorts today and closed them all for a small gain. That EOD ramp was just too predictable.

However, the monster move was to watch the price action of gold during the 1:00 - 1:30 time frame. Saw the bounce and piled into a bunch of gold and silver stocks.

Came away with 2.6% in just under 3 hours. That's a killer day for me.

The POG bounce was telegraphed by the USD slump that the boyz let happen once the proper statement had been made about gold and silver.

These guys are getting both desperate, and more predictable.

Someday, that will all breakdown so I am keeping my finger resting lightly on the sell/buy button and not getting much work done.

Best to all.
S

#9 Grand Poopercycle

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Posted 17 November 2003 - 05:21 PM

Do not start playin' short-side, short-termers, until crack not only widens but gapes into a bloody scar. Man a squeegie, sell roses on an off-ramp if cash direly needed. Please provide no fuel for more upwardly farting stench.
Thank you.

A sane professional sphincter(rare we are).

#10 Bird D Durr

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Posted 17 November 2003 - 05:22 PM

It's Scam Week Folks....................Don't Be Surprised..................

#11 DrStool

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Posted 17 November 2003 - 05:28 PM

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#12 Hypertiger

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Posted 17 November 2003 - 05:31 PM

The very second you instute a debt backed by debt system you have to battle debt deflation...with greater amounts of debt...failure to overpower debt deflationary forces with greater amounts of debt inflation ultimately results in a hyperdeflationary implosion of debt...or collapse of the system dependant on debt inflation as fuel...the entire money supply of the US is debt to keep it stable and growing forever debt inflation must continue forever which means interest rates must drop forever...which is impossible...soon debt inflation will become impossible to sustain and the debt deflationary forces that have been building for 40 years will be totally 100% unstoppable... 2-6 months left at most until the implosion begins or some sort of hyperinflationary policy is successfully instituted to buy a few more months to perpetuate the debt inflationary fantasy world...

Ben Bernanke talks deflation...
"We are completely dependant on the commercial banks. Someone has to borrow every dollar we have in circulation, cash or credit. If the banks create ample synthetic money (at the request of the consumer) we are prosperous; if not, we starve. We are absolutely without a permanent money system.... It is the most important subject intelligent persons can investigate and reflect upon. It is so important that our present civilization may collapse unless it becomes widely understood and the defects remedied very soon." --Robert H. Hemphill, Atlanta Federal Reserve Bank,1938...

#13 DrStool

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Posted 17 November 2003 - 05:35 PM

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#14 fxfox

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Posted 17 November 2003 - 05:38 PM

the Dow today from a traders perspective:

when Dow made its low RSI in 1 hour chart was at 27 and price was just 10 points below the 50day MA. A trader who usually doesnt hold his postions more than 1-3 days covers his short postions under such circumstances. Then price moved up and made an exact 38 retrace of the high from firday to todays low: 9892-9629, 9730 would be the 38 retrace, actual high was 9729.

fibos and trendlines thats what a trader needs, you are not a trader until your charts dont look like a spiderweb. :lol: :lol: :lol:

seriously: i learned that from forex trading, it is amazing how important trendlines and fibos are and how well they work. A very nice exmaple can be seen on AUD/USD 5 mins chart, make fibo from 7175 high to 7096 low, now you see that after the sell off price did just meander at the basement, but all of a sudden there was a spike - exactly by the pip to the 38 retracment. After price made that retrace it did go down again, there was only that spike in 5 mins candle to hit the 38 retrace then everyone was happy and did go on with usual business. I think that is amazing. I could tell you 10 more fibo example alone from TODAY, the top in yen was an EXACT fibo and a trendline....... and so on.
'patriot' is formed with 'patria' and 'idiot'

#15 Farmer

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Posted 17 November 2003 - 05:44 PM

Mousey what was plan B again.

I went down to the basement and forgot. :( :( :unsure: :unsure: :blink: :blink:





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