I’ll cut to the chase. The ridged 1120 of the E-Mini is concrete block.

Protesters? Haha. Jokers who can’t even properly jest!

Now let my Red-White-&-Blue box be your deadline to fish or cut bate.

Until the Super-12 get smashed like shamless bar tenders in mid-November, this market MUST CLIMB.

His-Imamness-Barry-Whoz-Saine-Ur-Bama has to pull a “uppy goody, downy baddy” (credit Scott Bleier) and pull a Clintonesque repeat.

Thus, this market cannot go down.

One more thought, inject some metal:

I’d like to sit here in the quite, seafood lingering reminiscence of an Italian, table white wine, parmagagne encrusted muscles and team with great conviction.

Au contraire, rather, I admit my follies in sage adherence to teaching what I was seeking.

I could have held $NFLX all of last year without another budge. Or held my $TLT position as was my second PG post. Or I could have shorted this market as I called gold’s double top all nicely 9.11.”11″ weekend.

Rather, I have over traded this environment, stressing my capital gains into the red.

I concede and admit this not in vain, as I hope other readers will realize, one must take their own professed prescriptions. My spreadsheet “books” and “notes” all say the same thing: but I longed this week’s retracement in “expectation” of gap filling.

In the end, every MD, DO or other Medical Arts Practitioner promises the Hippocratic oath, let the Blind man say thus: “Don’t heal unto others, until you’ve cared unto yourself.”  Less ye do as me and mirror the face of a hypocrite!

With respect to my concessions, I expect the market to rally well into November. Given the major “Super-12″ Budget committee uncertainty, I SAY BUY, BUY, FUCKING BUY THIS SHIT!

Now, I am still twittling my thumbs “IN THE RED;” all the same, absent more “24/7″ fraud on the market by “ancient heads of fraud” (names intentionally omitted), buy at the faintest hint of rally.

To quote the Scientologists (of which, I’m unaffliated): “None of this is real.”

Usual disclaimers, my above average vantage point may or may not bank and jingle a shimmering bullion tune in your suspender-trousers. Cheers!

I must put this out there. My opinion is this;

Would one call the plantation owner a slave to his indentured servants? Does the government in slave the people, or do the people inslave the government?

So, you see where this is going, but do you?

Ask any Italian if his ability to purchase a nice shirt or pair of shoes has became greater since Euro land was created.. His answer would be no. Instead of having  5 or 8 nice shirts, the poor bastard has 2.

Germany is the biggest in population, industrial might, and know how in Europe. They are smart and yet bitch like with the money and education to achieve above all their euro partners. Not only have they tried to take over euro land twice, they have been buying up all the fancy shit around them. Businesses, homes, land, everything under the snow and sun. They are hated for this.

Being the biggest exporter among the euro trash, they will be hurt the worst if things dont go down this way. They have been making money off the backs of the euro partners this whole time and are not about to stop. Bail out? It all works in their favor.

They are the masters. Its not checkers, its chess.

regards

chuck

 

Greetings, welcome to Chiner.

RUMORS of apple’s demize are a fraud. Just away for the banks to buy it under 400 before we see 500. Full disclosure, I do not have a single share of this piece of fruit. I have black berry and it is gay, all my friends have this amazing device and I refuse to get it. They say it changes your live, Farg that shit, my live is just fine. Nice and nefarious as it should be.

Take a look at this beautiful store. Oh wait, its fake? No, it couldnt be..  After walking down the street about 6 mintues away I say Chen. I was like whats up bro. We going to KTV tonight? He was like, “Nah son, I got to get back to my store and count my money.” I find out just an hour ago, he is a liar.  Not only is that not his store, but he doesnt even work at an apple store \ i phone store. He wears that shit to look cool. I say, and I thought I was the egregious and nefariously acting gentleman. Perhaps  I am really aewsome and amazing after all.

These folks lie and cheat on all sorts of levels. CCME style taking down billionaires to the small time ass clown trying to get a dollar out of 65 cents.

Hang around I have much more to show you all. For now, I will have two 19 year old non engrish speaking girls rub my feet into the opening bell.

regards

chuck

After yesterday’s slippage, where market participants turned a cold shoulder with respect to the FOMC policy release, US markets continued their southbound journey in today’s trade, whereby the major indices succumbed to further selling pressure delivering a follow through session as the bleed was felt across the board with the major indices sporting better than 3+% hair-cuts.

While the action was certainly grim, as well as the SPX 1140 ‘potential’ support giving-way on a ‘closing basis’, the Spoo’s were, at least for today, able to close above ‘potential’ support at the 1120 figure (if that’s any solace?) despite knifing through the level on an intra-day basis as evidenced below:

As we can ascertain from above, the action in the days/weeks ahead will prove pivotal for this tape, where the technical posture remains unfavorable to say the least as the Spoo’s continue to trade below their 50 and 200-day moving averages, respectively.

That being said, we can also observe that from a short-term point of view, the tape is nearing oversold conditions evidenced via its RSI 38 reading, as well as the print below the MACD 0- line.

Thus, while oversold, or overbought conditions can and often do persist longer than one anticipates, in order to navigate the landscape with prudence, we must, as always, cast our thoughts and personal opinions aside and allow the tape to do the ‘talking’.

Therefore, moving forward, both traders and investors would be wise in keeping a close eye on the action at SPX 1120, as well as the August low levels situated at the round 1100 figure for further clarity before jumping the gun and attempting to ‘nail the bottom’. Should either of these levels ‘give-way’ on a ‘closing basis’ and ’stick’ at any time in the days/weeks ahead, such scenario would more than likely set the tone for further decline.

As we mentioned a month ago (8/24/11) when we stated the following:

“Albeit, the tape is surely to experience sharp and violent upward spikes in the days/weeks ahead, the technical damage inflicted has been severe (and will take months to repair), leaving not only the indices in an ominous position, but that of many individual issues as well, whereby those whom seek to play the wild gyrations/volatility would be wise in heeding a strict discipline and short leash when delving into long exposure.

That being said, this tape will continue to provide opportunities on both sides of the ledger (Long/Short), yet for those whom choose to step out onto the ledge and commit capital on the long-side for a duration of anything longer than a short-term scalp/trade, realize that risk/reward conditions remain unappealing, thus, the strict adherence to risk parameters is paramount.

As we read the tea leaves, we believe that at present, this tape is displaying a risk/reward ratio of 3-3.5: 1, which in essence, is the exact opposite (at minimum) that one would consider allocating long exposure.

Therefore, for every SPX 100 point increment in potential upside, just remember, that the flip-side offers nearly 300-350 point increments of potential down-stroke/slippage.”

Such remains the case today.

Prudence and preservation of capital is in order allowing one to live/play another day.

This is no time to be a hero!

Quality means “TRADITION” in English.  This is where I’m getting my mangia on today:

If you’re ever in SoCal, I suggest you all do the same.  Best spaghetti, and I’ve had NYC Mama Leoni’s, K(!)?

The Point: I suggest buying $WYNN NOWNOWNOW.

It’s my favorite ticker, I watch it like a gorgeous print-model; can’t imagine ever being fully satisfied.

There’s a current triangle hitting consolidated move-time-series.  It’s about to explode!

The institutions are behind the sector, yet little “action” (given overall post-August tape).

This leads me to one conclusion, a $ 30 dollar move up (IF the market calibrates accordingly) is about to occur (absent larger market tragedy of hair-loss proportions.

I’d write more, but I have business in LA before I head back for more Biz in Vegas, enjoy:

http://www.youtube.com/watch?v=hWrZOgU9Fcw

I feel dirty when I suggest a crash is coming, like some sort of basement dwelling ZH permabear.

To be sure that I am not, I did post to go long a few days ago but I sold out of all longs today into the rally.

Tomorrow, I expect the stock market rally to continue, only to reverse off the highs.

If this happens I will position short for a CRASH.

Along with a needed breadth divergence, what is my edge?

Positives:

1. Lets not forget we are rallying on the EU not dissolving. If you take a look at the EUR/USD and EUR/JPY you will see that major support was broken and this latest rally is reactionary.

2. Energy, specifically oil, looks weak as fuck. Also, other important stocks like aluminum and coal are not rallying.

Negatives:

1. I must say Gold perplexes me. If it continues to sell off (which seems likely), that means investors are no longer scared, which would drive them into equities.

2. Some stocks are hitting new highs which also confuses me.

I will give the market until Monday at the latest to weaken, else I will back off. In fact it might be better to let the weekend pass.

The move down out of this recent trading range/bear flag (whatever you wanna call it) should be violent.

We should land somewhere in the flash crash zone of 2010.

Once we crash, this will give the breadth divergence I wanted. Then, dare I say we have a rip your face off rally into the bullish months of the year.

ATTENTION BEARS: If we do not break the flash crash lows, the bull market is still alive.

Either way, bear market rally, or continuation of the bull, I expect us to swoosh down then trade up into the holidays.

If I get this right, will I finally get the respect I deserve? And will all the girls love me? (even more?)

Time will tell.

Ann Coulter recently mentioned, of $DIS(ney), “why, yes, they did lead many to pasture.” This divisive, journo-lawyer condescendingly mocked “the Happiest Place on Earth.” (TM, Fair Use).

In this sense, with $LULU and $UA now outta season, it’s time to jump in the ventilated boxes: Grociery Stores and Telecommunications.

Short Fav.: $WFM less than a year of trading, and the mid-$60’s are acting as support for Whole Food. IF we finish out Triple Witching September with a retracement of the week’s gains, I’d short this early manana (that’s Spanish for tomorrow).

Long: next, I would reconsider the ill-forgotten $NFLX. If it’s cold, besides the above mentioned fine wine and meat purchasing, folks will seek to tune-out together with some $NFLX. A monthly reverse-fib. identified a key 161.8% fib. level. While I remain skeptical of calling tops and bottoms, perhaps awaiting next Monday, when Clam-fever takes hold.

Update: “I [was] skeptical of calling tops and bottoms…  A monthly reverse-fib. identified a key 161.8% fib. level.”  What more can I say?  If you were on the right side of this trade (e.g. 10 K’s OTM $175 Oct. Puts, then you may have pocketed $ 20,000 today!).  I won’t crunch more exponential profits as anyone reading here: can do thus and such.  I’ve attached the chart I was “eyeing”.  The 261.8% fibbo. is “now at issue.”  Now take a look below:

$ 146 exposes an “absolute” fibbo. bottom.  There are three ways this can play out:

a) $NFLX is a shedwater prognosticator of a larger “move down”.  Thus, take heed!

b) $NFLX will continue down ward slide to 423.6% level – YEARLY SUPPORT.  Same conclusion as “a)”, EXIT NOW!!!  OR

c) I LIKE THIS OPTION MOST (THO IS SPECULATIVE): LONG HERE WITH OTM 170 CALLS WITH LIMIT AT OR ABOUT 182.5.  WITH .34 DELTA EASILY HITTING .80+, A $ 3,000+ (10K’S) $15,000 (50K’S) CALL PLAY ON RETRACEMENT BY CLAM’S SPEECH NEXT WEEK IS NOT UNREASONABLE. THE “USUAL DISCLAIMERS” READ HERE (AND BELOW).

In re the Matter of Gold: I am keenly following what may be a major fall for gold. It’s entirely possible that in three weeks the headlines will read thus: “Euro-’Contagion’ Contained”; “Fed Ends the Trends”; “Obama’s NFP’s net 10 Jobs!” (pun); MULLIGAN: “Markets Up, Obama Approval Polls Rebound.”

Well. That’s all for now. There are some ideas. I suggest keeping a pulse on gold, US dollar, major indices and oil before entering any of these.

BEWARE: being Blind, I never lack vision, but these trades could wipe out any and all your recent gain$. Caveat Trader.

Most of the options blogs out there suck and I know there is some smart people around here.

Right now with volatility collapsing from such high levels, there is an easy money trade setting up but its still unclear to me.

Both volatility for GLD and SPY is falling from their highs however:

Ex1. Buying SPY OTM calls are up more than selling SPY OTM puts

Ex2. Selling GLD calls are up WAY more than buying GLD puts

The text books say to be selling rather than buying when vol is collapsing. (GLD options are performing how I expected)

Are SPY calls outperforming due to the magnitude of today’s rally (overshadowing the collapse in vol)?

What are you guys doing out there for pure directional bets?

TZA and especially TNA options are unreliable.

Thanks.

Listen up and maybe you will learn something.

Despite all bad news thrown at us these past few days, the markets refuse to break their lows.

Today we had the worst news in a while, being that the French banks had their credit rating downgraded and the market is trading up.

Also, there have been huge pre-market declines waiting at the open, only to be erased several times now.

Even though we haven’t gotten the breadth divergence I was waiting for and I don’t like the look of the SPX chart, short term its safe to say “Don’t fight the tape”

Unlike some bloggers who have been posting long setups throughout the decline and saying “well if the markets should bottom here”, the seasonality setups I posted were the first longs I posted in months.

SPX printing higher highs and higher lows. I will look to close longs and re-enter shorts at the 50 day MA which will also complete 3 points of the upper channel.