Trannies: A Technical Lookby The Fly on April 2nd, 2008 at 10:50 pm |
As you can see by my careful analysis, the transports are bumping up against “the line of (certain) death” resistance. That shit is like a brick wall. No way it breaks that, son.
Also, if you notice on the graph above, “trannies blow.” Moreover, over the past year, tops have been met with “mad faces.” Although I do not see a mad face at the present, I expect one to develop, literally any day.
Finally, it’s worth nothing, this recent trannie run is being fueled by “bullshit” volume. Furthermore, most importantly, there is an ominous “tic-tac-toe top” formation at current levels.
If I were trading the transports, I’d sell them quicker than a 1 dollar pork sandwich in Beijing.
Trade accordingly.
That’s some good stuff… and you say you’re not a chart chomper. I think you’ve been holding out on us!
April 2nd, 2008 at 10:59 pmthat shit is nasty
April 2nd, 2008 at 11:00 pmi have to admit, that’s pretty fucking funny. i give up reading charts.
they will break to the upside.
i wish i could give you 5 stars.
April 2nd, 2008 at 11:04 pmSolid analysis.
April 2nd, 2008 at 11:13 pmAs always, classic shit Fly!
April 2nd, 2008 at 11:36 pmtic tac toe is a good setup, this one could explode!
April 2nd, 2008 at 11:38 pmgotta love blowing trannies and fuckity tech analysis.
April 2nd, 2008 at 11:48 pmIf the jobless claims are above 350k to 370k, look for another 80K in job losses. If its above 370K, which i doubt, believe that we will get less than 45K in job losses, which will look better than expected on Friday. Cover shorts for major indices during end of thursday if a huge jobless claim is reported.
Where the data to prove this, you will have to think really really hard but its there..hint look at the past 8 months of all jobless claims and the payroll reports, there is a huge discrepancy.
April 2nd, 2008 at 11:50 pmADP Report has +5K jobs.
I think the jobs report will be less than 45K losses, and the market will rally on the news.
April 3rd, 2008 at 12:22 amI think the reports will be more than 100k in lost jobs and Godzilla will eat the Nasdaq building.
April 3rd, 2008 at 12:31 amI think that you should be careful anytime you are looking under the hood of a trannie.
April 3rd, 2008 at 12:35 amSpeaking of trannies, Fly, you didn’t draw your signature cock n’ balls on this chart?? WTF?
April 3rd, 2008 at 12:36 amI am looking at a chart of HSCEI.IND vs. SHSZ300.IND (Hong Kong vs. China mainland shares). They track each other pretty well up until 3/19, at which point they start moving in completely opposite fashion (mainland continues downtrend, HK shares melt up). Just curious, what the fuck is going on over there? Did they secretly change it so FXI is now the inverse ETF for China?
April 3rd, 2008 at 12:47 amI definitely see a “mad face” formation in the August ‘07 time frame.
April 3rd, 2008 at 12:49 amThe Fly doesn’t want to admit that his son is a chart chomper. Nice analysis, Fly Jr.!
(You can tell he’s his father’s son.)
April 3rd, 2008 at 12:52 amQ: How do you get the bird flu?
A: Banging a tranny with a nose bleed behind the Popeye’s Chicken.
April 3rd, 2008 at 12:54 amWTF are you east coasters doing up at this time? Don’t you guys ever sleep?
April 3rd, 2008 at 12:56 amYeah…where’s the signature cock ‘n balls of death??
April 3rd, 2008 at 1:01 amThe last time the Fly put up a bearish technical analysis chart, didn’t the market rally? That and the beholden “golden bear” will get us over 13,000 again.
April 3rd, 2008 at 1:02 ami own the domain http://www.chartsgonewild.com so maybe we set up a section of the site for charts like this. hot chicks and charts…
April 3rd, 2008 at 1:27 amGeezus H!
The new look, cool charts I can understand, Ragin’s get’n hitched.
April 3rd, 2008 at 1:47 amThis place is ON FIRE!
The pinnacle of technical analysis. This site is now complete.
April 3rd, 2008 at 5:10 amBrilliant!
April 3rd, 2008 at 5:14 amI am adding the “Line of Death” to my lexicon.
April 3rd, 2008 at 5:40 amThanks
The picture on the front page to this post is priceless.
April 3rd, 2008 at 5:43 amI don’t get it. Should we send troops to that line of death?
April 3rd, 2008 at 6:39 amGeorge Bush- Obviously the Trannies need to be eliminated as they are weapons of mass destruction.
April 3rd, 2008 at 7:08 amYour T&A is second to NONE! If I wasn’t still living off that one GREAT (lucky) call I made, waay (the fuck) back when?, I’d hand my reins over to you.
Move over Shredder’o-Wood, make room for … Da-Fly !
April 3rd, 2008 at 7:15 ambtw Fly, I’d lay off that FXY. HSI & SSEC have come down too far to bet against here. You may(of course) be right, but I don’t think the risk/reward is there, at the moment.
In fact, I think its a better bet to go the other way and possibly dust off a basket of some of those dusty Chinese Lotto picks. The former leaders should lead and when the run is about over, the crap. And when the crap starts floating, I’d get long FXP.
thats my game plan, du moment… subject to minutely/hourly/daily revision, of course.
April 3rd, 2008 at 7:22 amFly: The voice of sanity on Wall St and funny as hell.
April 3rd, 2008 at 7:32 amWelcome to the Show: http://www.youtube.com/watch?v=pxo3OnekPg8
Tomfoolery but no tomfuckery at IBC
I’m all out of FXY.
Yen is going lower.
April 3rd, 2008 at 8:04 amWell it looks like ATA (A Terrible Airline) has done gone under. How bout a fucking bailout Ben? Why doesn’t anyone care about the airlines?
April 3rd, 2008 at 8:23 amHolly shit look at the jobless claims!!!!
April 3rd, 2008 at 8:30 amfirst time claims up 10 fucking percent in a week
reality sucks, eh?
April 3rd, 2008 at 8:35 amWasn’t ATA a subsidiary of LUV (SW Air)?
April 3rd, 2008 at 8:36 amAlias: BPOE
After first time clams Cramer calls an L shaped market.
April 3rd, 2008 at 8:45 amWTF. He makes out by saying anything that sounds smart.
He is having the time of his life. L shaped market!!! I
love it. Only FLY’s time machine can out do Cramer.
Do we have any West Coasters that read this blog? Besides SoCal Danny, I mean? Any from the communist part of the state?
Yes, even more communism for San Francisco.
Watch for the special appearance by Green Writer!
April 3rd, 2008 at 8:47 amTranny’s do blow
April 3rd, 2008 at 8:49 amBruce,
Did you mean FXP or FXY? FXY doesn’t make much sense given the context of the rest of your post….
April 3rd, 2008 at 8:51 amTranny’s do blow.
You can say thet agin’, Sir Elton!
April 3rd, 2008 at 8:57 amI guess the answer to my question is “Because no one ever watches ‘CNN Money’” but I’m still going to ask it –
How come no one ever mentions this babe, Poppy Harlow?
April 3rd, 2008 at 8:58 amWow, I guess RIMM was a decent short in the AH last night.
April 3rd, 2008 at 8:59 amJake,
Not exactly from The City, but the Big Sac (where I am from) is only an hour away. BTW, looks like all the guys on CNBC have found common ground - everyone hates them. Instead of comming together to be defiant, understand the fucking message. Arrogant pricks.
April 3rd, 2008 at 9:00 amThat Jobless Claims report is awesome! Sets up for more rate cuts! Don’t FIGHT THE FED! January Effect! ELECTION YEAR RALLY! V-Shaped Bottom! Early Cycle Recovery! THE BOTTOM IS IN! BUY BUY BUY!
April 3rd, 2008 at 9:02 amYeah Jake, Pete Najarian will never profit from his nice RIMM options strategy. One of the bad things about options.
April 3rd, 2008 at 9:10 am