Thursday, May 19, 2011
05/19/11 In The Ghetto
Now that I've met and psychoanalyzed every 'mate on my cell block, I can confidently proclaim every one of them An American Tragedy. That's right, society failed every one of these losers. Each man harbors 'a cold and grey Chicago morn' in his own mind.
I'm still hoping for solitary by week's end.
I'm still waiting for the decisive break to new highs.
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AAII Sentiment Survey
ReplyDeleteResults
Week ending 5/18/2011
Data represents what direction members feel the stock market will be in the next 6 months.
Bullish 26.7%
down 4.1
Neutral 32.0%
down 1.7
Bearish 41.3%
up 5.8
Change from last week:
Bullish: -4.1
Neutral: -1.7
Bearish: +5.8
Long-Term Average:
Bullish: 39%
Neutral: 31%
Bearish: 30%
I realize that the AAII Sentiment Survey is 'useless,' not to mention 'meaningless.' However, this blog thrives on useless, meaningless posts.
ReplyDeletePersonally, the survey results bring a smile to my face.
ReplyDeleteIf the global economy is in fact on the verge of roaring back to life, then surely next week will be peek commodities week!
ReplyDeleteI also realize that posting the above comment will likely result in being banned from making further posts. I'm betting at least one administrator has the IQ to recognize my ghetto background makes productive posting impossible.
ReplyDeleteHoly shit! Liberty Media bidding 17/share for Barnes and Noble.
ReplyDeleteJust scrolled through a ton of weekly charts and the one that really grabbed my attention was TZOO. Very powerful weekly pattern suggesting a furious move to old highs. No position:(
ReplyDeleteTo make it a thing of beauty, and to give me maximum frustration, my guess is the weekly close will be right at $75.
The only other charts of interest to me were YOKU, OPEN, and PANL. And MITK...that's just monster in a whole different class. That 2 million share block is giving it a gigantic green volume bar on the weekly.
Your new handle shall be Ghetto Trader.
ReplyDeleteLooks like market is betting Liberty Media will raise their bid.
this blog thrives on useless, meaningless posts.
ReplyDeleteHow come it wilts when I say useless meaningless things?
RB - We're not wilting, we're cringing! ;)
ReplyDeleteTrivia time. Who wrote In the Ghetto? No googeling CP!
ReplyDeleteInstead of useless now I am making trivial posts.
I've gotta tell ya 2nd, you seem like a well recovered ghetto dweller, or a reformed one. I'm experiencing some difficulty accepting your claim.
ReplyDeleteIt was written before Elvis sung it.
ReplyDelete"In The Ghetto" was written by Cartman.
ReplyDeleteForrest Gump wrote the second verse.
ReplyDeleterb- Your posts are neither sufficiently useless nor meaningless to feed this blog. Dive into darker depths of uselessness and meaninglessness. You can do it.
ReplyDeleteSo your saying you want me to post some CHARTS again.
ReplyDeleteThere you go!
ReplyDeleteLet me go out on a limb and say we gap up +181 points on the DJIA Friday morning.
ReplyDeleteThen the gap fills on Monday?
ReplyDeleteFriday is tomorrow, a real ghetto dude would've used the word tomorrow.
ReplyDeleteThe only way for the DJIA to get to 13,000 from here is to move up. I know shorts don't believe it, but it's a mathematical certainty.
ReplyDeleteUnless he was self conscious and couldn't spell the word, in which case he would use a synonym or phrase that he could spell.
ReplyDeleteMathematical certainty; such as an imaginary number expressed as: 12,605, j13,000 where j13,000 lies on the complex plain.
ReplyDeleteLet's all take two tabs of cp's acid and groove on those j symbols.
ReplyDeleteJ is a real sexy letter. I can see why CP uses them.
ReplyDeleteFast forward to the next Elvis song in the video:
ReplyDeleteSuspicious Minds
Caught in a trap
Can't walk out
Because I love you too much, Ben-Nie.
Feel free to substitute Mr.Market for Bennie B or Ba-by.
Holly cow! You guys really want more pictures? Cool...Give me a sec.
ReplyDeleteDavid- 2nd is obviously singling you out here. Are you gonna take that?
ReplyDeleteJ IS a sexy letter...my wife's family requires every new member of the family to start their name with it.
ReplyDelete2nd please explain the significance of +181...I actually believe a big gap up is coming imminently.
"David- 2nd is obviously singling you out here. Are you gonna take that?"
ReplyDeleteMark, I have my ECUXF and I don't care who is singling me out. :)
For you BEXP traders, was upgraded by BMO this morning to OUTPERFORM and target of $0.
ReplyDeleteVery positive on the stock.
Sorry, target is $40.
ReplyDeleteSold 1000 BEXP @ 29.82. Booking $1,168.
ReplyDeleteBB- Thanks. I was wondering why it was so snappy today. Where did you see the upgrade. I couldn't find any news.
ReplyDeletehot damn bro, that's awesome. guess i'll go ahead and cancel my job search.....extra long in the robe please
ReplyDeleteI have an account with them. I can send it to you if you want to leave me your email address (and take all the related junk that goes with doing that).
ReplyDeletesharp reversal coming in the market? i think so...to the upside.
ReplyDeleteXLE through S1.
ReplyDeleteThe important level for crude is 95 me thinks.
Markw, you should have it.
ReplyDeleteDownside! I meant sharp reversal to the downside!
ReplyDeleteThis is why I have given up on daytrading. Who the hell can honestly call the moves from day to day on a consistent basis?
BB- Got it, thanks.
ReplyDeleteAnother day - another market move completely based on the dollar.
ReplyDeleteUUP up 0.65%
SPY down 0.62%
Someday stocks will start trading on things other than the Forex again.
Dollar zooms up towards 76. As if someone has decided and is determined to keep it there.
ReplyDeleteAKAM?
ReplyDeleteBEXP - BB - Thanks for that heads-up, maybe instead of trying to scalp it I'll just buy more if/when it dips.
ReplyDeleteGold is headed up too, maybe down first though.
akam is probably riding the crm train....guess cloud/saas is front and center again
ReplyDeleteakam - and some insider buying
ReplyDeleteok this is my second call for a sharp reversal higher...i say we close up nicely.
ReplyDeleteDid I say +181 or -181?
ReplyDeletetof - the es held at a real important short term level, if we go up from here with some volume then i'm with you - nice green close
ReplyDeleteI agree with tof. Not that it makes any difference in my portfolio mgmt right now.
ReplyDeleteAs I stated earlier, only idiots would be selling large-cap value here.
ReplyDeleteCP- Nothing new on GMO right? It's all over the place.
ReplyDeleteJB- I was looking @ 1332 on the ES. You?
ReplyDeleteMark - for me to go long I would need the ES to move back above 34, still super risky here between 31.50-32.50, we break down below 31.50 then we could hit mid 27's.
ReplyDeleteI had 32 as the key level to get out when I went short this a.m.....finally I winning trade
we need the 6e to turn back right now or the es is going to be in trouble, going long 6e here at 4141, only 3 cars
ReplyDeletewow, 1 off at +10..so fast!
ReplyDeletestop up to 4143
ReplyDeleteone off +15
ReplyDeletestop up to 4151, going to let this last one ride..or get stopped out at +10 on the runner
ReplyDeletegot me, +10 on the runner.
ReplyDeletegood news - I can buy my own bathrobe!
that's it! i give up...i've lost everything on my sharp reversal call. time to admit to the wife that i bought 300k worth of SPY call options that expire today and now they're worthless.
ReplyDeletealright maybe i'm kidding. but isn't that the life of the daytrader? i'm glad i left that nonsense...
1000 SSO @ 53.77 for a scalp.
ReplyDeleteSSO off @ 53.90 for hotel money.
ReplyDeletewow, great entry Mark, only two ticks off LOD!
ReplyDeleteyou should be trading futures. All the action is from 6-8:30 and then that's about it until the close
ReplyDeleteNice bro. So your trading 4 cars now?
ReplyDeleteKeep um down the middle ladies...
ReplyDeleteCara seems really bearish on gold. Although I agree with his points, I think he's intentionally setting readers up to miss the coming price increase. That's what really gets under my skin about him, he uses way too much verbage to say something and then later you find he's done the opposite.
ReplyDeleteMaybe there's a verbage volume indicator somewhere out there?
GMO - no news, possible water ruling by end of June else could be a long summer again this year.
ReplyDeleteLast year my late August birthday marked the best buying day of the year for GMO (and many others).
down and out on two calls today in the very short term but i honestly think we rip higher very soon.
ReplyDeleteCP - now we know what to buy for your birthday!
ReplyDeletetof - you can still be right, in that critical 32 area now...we need to bust up above 34 fast ans with vol
JB > It better soon or my reputation will be ruined!
ReplyDeletealright fellas...i'm signing off for the day. it was a blast doing some imaginary day trading. two calls, both wrong. i don't buy it that Vad / et al makes decent consistent money doing it. there's a reason they all turn to offering their "expert knowledge" to others for a monthly/annual fee.
GMO - Took a small position of 1000 shares early this morning at 3.96. We shall see.
ReplyDeleteJB - Goats are higher on my list than a bath robe. Admittedly, although I'm coming closer by the day to needing a couple of goats (as equine companions), I can put off the transaction for a few more months, possibly. I still have over 1500ft of new fencing to put up. ;)
ReplyDeleteThere's never enough time or information to form an educated strategy for some reason. I suppose it's the same someone(s) who try shaking me down on a daily basis who make it that way.
As anticipated nothing has changed, the offending parasites all remain subepidermal.
Guys-
ReplyDeleteCheck out the weekly charts on SVM and CDE. Quite bullish imo w/ weekly hammers. SVM has come down from 16.32 to upper 9's. SVM was in the 15's in March when the price of silver was where it is today. It was just about $14 when silver was $28.
They may do quite well even if the price of silver stagnates or slightly falls.
Talk about how rational the markets are: ECU is up 5% today on the following news:
ReplyDelete"TORONTO, ONTARIO--(Marketwire - May 19, 2011) - ECU Silver Mining Inc. (TSX:ECU - News) is pleased to report that the high-performance deep diamond drill has reached the high grade massive sulphide zone at its Velardena Property."
Where there really some people who doubted that this was going to happen? ECU has already provided like 4 updates on their drill getting closer and closer to the target zone. Can't people do any extrapolation of what the current company activities imply for the near future? That's why I have 2/3 of my port in ECU now. There will be another "surprise" in the market, probably good for a 50% pop in ECU, once they confirm the totally expected fact that YES, indeed, the zone they are drilling now IS high-grade, just as they were saying for the last two years. And then, when they update their 43-101 in late 2011 (or early 2012) and include into it all of their recent exploration activities, the market will act "surprised" once again for another 50% pop in ECU. But don't we already know what will be in that 43-101? They already said MULTIPLE times that the point of the updated report will be not only to extend the size of their inferred resources but also to reclassify a good part of them as measured and indicated. I bet when this well-announced event actually happens, ECU will pop big time. That's how we make money within the totally myopic crowd.
News on WATG came out today:
ReplyDeletehttp://finance.yahoo.com/news/Wonder-Auto-Technology-Inc-prnews-429622580.html?x=0&.v=1
Looks like the VIE creators are not trying to dissolve the company and run away with the shareholder's money. They are saying that they are still planning to provide a plan to NASDAQ by this coming Monday of how they will regain compliance with the NASDAQ rules, and they plan to finish all their internal investigations and earning restatements by the end of July.
But most importantly, WATG did not start trading today, which means that the 10 May $5 puts I sold on it a month ago for a $500 total will automatically expire today. Nice. :)
ReplyDeleteSVN/CDE...Yeppers, I like those charts.
ReplyDeleteBEXP- Fing animal. I had hoped to get my 1000 shares back, but when I left the world was falling apart and thought I was safe for a few hours. Oh well, I'll just be happy with the 5,325 shares I have left.
BAC=Dodo Bird?
ReplyDeleteLooks like the rotation into XLF lasted 1.35 days.
ReplyDeleteLNG export approval. Bang!
ReplyDeleteAll the natty players reacting to the LNG news. Looks like we (USA) are just going to export all our natty since we can't possibly figure out WTF to do with it.
ReplyDeleteJB - Do you recall the name of that packaging company we were trading last year? I've lost the name and wanted to look at the chart again...
ReplyDeleteHK following along smartly.
ReplyDeletejesse - I'm considering the double gold ETF, just in case miners get left behind again...
ReplyDelete"we can't possibly figure out WTF to do with it."
ReplyDeleteWe never can figure out what to do with natural resources (such as create employment), may as well export so they can be put to good use.
"LNG export approval. Bang!"
ReplyDeleteI bet LNG has already made many announcements about them waiting for this export approval. Another example of how short-sighted the market crowd is.
cp - wouldn't be BZ would it?
ReplyDeleteBEXP - 5325 - JB, Looks like you might even get a bottle of Hi-Karate top to off the ensemble! ;)
ReplyDeleteBZ - Nope, it was a plastic bottle manufacturer, I think it was C?C or something like that...
ReplyDeleteBOX - I just found this one while searching for plastic container manufacturers, interesting how shipping is sinking yet this company is moving rapidly higher...
ReplyDeleteHi-Karate!! That's the funniest thing ever said here :)
ReplyDeleteCP- It was CCK. Don't look. It never came back.
ReplyDeleteBro- Is this a regular or clean t-shirt type of gig?
ReplyDeleteHai Karate - The alternative to the gift set would be Brute-33. ;)
ReplyDeleteCCK - Crap, you're right it just kept right on moving higher....
Well, at least the Hai-Karate would be a close facsimile assuming he's not interested in harboring a couple of goats but he'd still find himself out mowing weeds and arguably no better off. ;)
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