DrStool Posted December 7, 2022 Report Share Posted December 7, 2022 This carnage may be all but exhausted for today, with a 5 day cycle projection pointing to only 3885-3900 on the ES, 24 hour S&P figuretures. Somehow, the unbiased auto TA got it right this week. Despite the fact that I had 8 shorts on my chart pick list this week, I still can't get over how much I was looking the other way. I had essentially given up on the older shorts on the list, tightening the stops to just a hair above where they closed last Friday. They never got hit. Fortunately, because I also added several new longs, and my practice is to give them a week to find a low before setting stops. That normally works out. Remains to be seen if it will this week, because the losses of the last two days would be brown pants syndrome worthy if they were standing alone. The other thing I note on the above chart is that the conventional measured move target of this little top breakdown is 3765. Meanwhile, the only way to sustain the bullish move in the bond market is for the stock market liquidation to continue. There's not enough cash in the system to support a bullish move in bonds unless stocks are being liquidated. In fact, looking at the 10 year yield chart, the short term downtrend in yields should be just about finished. And wow, just look at the past week's massive rally in BTC on the weekly bar chart as it heads for its ultimate target of 5000 below zero. For moron the markets, see: Federal Tax Revenues Are Slowing December 6, 2022 Swing Trade Screen Picks – Picks are Balanced this Week December 5, 2022 Bears Last Custard Stand December 4, 2022 Bears Beware, Money Managers Are Finally Spending their RRP Slush Fund November 30,2022 Swing Trade Screen Picks – Read My Lips, No New Longs (A Few More Shorts) November 28, 2022 Major Inflection Point Here to Determine Whether Bull or Bear November 28, 2022 Gold and Miners, Pullback Looks OK November 23, 2022 Fed Policy Will Stay Bearish Until It’s Too Late November 20, 2022 The Repeal of Rule Number One, Don’t Fight the Fed November 14, 2022 Bond Market Rally is Technically Valid but Belies the Facts November 12, 2022 Bad News for the Markets – Not Just Withholding Boomed in October November 3, 2022 Surge in Withholding Tax Collections in October Indicates Faster Jobs Growth November 2, 2022 Bear Market Isn’t the Mirror of a Bull October 31, 2022 If you're serious about the underlying forces of supply and demand that drive the markets, join me! If you are a new visitor to the Stool, please register and join in! To post your observations and charts, 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. Link to comment Share on other sites More sharing options...
DrStool Posted December 7, 2022 Author Report Share Posted December 7, 2022 Could make a case that the 5 day cycle projection is 3860. Link to comment Share on other sites More sharing options...
SiP Posted December 7, 2022 Report Share Posted December 7, 2022 Link to comment Share on other sites More sharing options...
SiP Posted December 7, 2022 Report Share Posted December 7, 2022 German spread on 2/10y on bunds biggest since... 1992 Bullish! Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 Shooting star Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 "Would you like nothing on your nothingburger?" Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 Only acceptable answer is, "Nothing." Link to comment Share on other sites More sharing options...
WTF Posted December 7, 2022 Report Share Posted December 7, 2022 Nothing to see here, all is well... move along. Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 Link to comment Share on other sites More sharing options...
MisFit Kid Posted December 7, 2022 Report Share Posted December 7, 2022 7 minutes ago, Jimi said: That could also be called a Wish Sandwich..... ala the Blues Brothers..... Link to comment Share on other sites More sharing options...
WTF Posted December 7, 2022 Report Share Posted December 7, 2022 The Wish Sandwich and Rubber Biscuit is McDonalds secret menu "Sad Meal". Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 New to the market in the past 24 hours, and a good 5 hours north of the Bay Area stands a property above the snow line. It's substantial: 320 acres! Quote 2 wells. 2 cabins (400' and mostly finished 1150'). Barn (1000') partially finished 2 story farmhouse (2300 sq ft). Seller was approved for energy and water storage grants. Currently has 23,000 sq ft cultivation permits with lease option of neighbors to increase by an additional 16,500 sq ft. (neighbors has its own well). Together both property's hold annual 10,000 SQ Ft mixed light tier one and 28000 outdoor (both annual licenses). $699,000 will get it done. Not many photos, so not much detail. Glamor shots in Photos #6 & 7. https://www.redfin.com/CA/Willow-Creek/321-Acres-River-Access-RD-95573/home/183196502 Link to comment Share on other sites More sharing options...
potatohead Posted December 7, 2022 Report Share Posted December 7, 2022 54 minutes ago, Jimi said: New to the market in the past 24 hours, and a good 5 hours north of the Bay Area stands a property above the snow line. It's substantial: 320 acres! $699,000 will get it done. Not many photos, so not much detail. Glamor shots in Photos #6 & 7. https://www.redfin.com/CA/Willow-Creek/321-Acres-River-Access-RD-95573/home/183196502 where's the meth lab? Link to comment Share on other sites More sharing options...
potatohead Posted December 7, 2022 Report Share Posted December 7, 2022 Lee, Thought you may like this.. https://www.brookings.edu/blog/up-front/2022/06/01/what-if-the-federal-reserve-books-losses-because-of-its-quantitative-easing/ They are now paying out more than they are taking in. Link to comment Share on other sites More sharing options...
Jimi Posted December 7, 2022 Report Share Posted December 7, 2022 40 minutes ago, potatohead said: where's the meth lab? Quote The Riverside and San Bernardino County area is referred to as the "methamphetamine capital of the United States." https://www.justice.gov/archive/ndic/pubs0/668/meth.htm Link to comment Share on other sites More sharing options...
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