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Instead of pondering whether wall strait favors Dems or Repubs, I look at it this way...
Wall St favors the incumbant, either Dem or Repub, since they've already got them in their pocket (bought off). Don't want any newcomers who might rock the boat.
IMO gas prices will decline till the elections and stocks will be going up for a few weeks before to get the sheeple to think things are getting better so don't change the status quo.
My goodness they're coming out of the woodwork today... welcome back. Gonna visit more often?
Stock option pricing scandle... how long you think they've been holding that bombshell? Waiting for a decent correction to start and then add this to this scandle on a daily basis (new company each day) to fuel the selloff.
WS knows how to shear the sheeple.
I hope so, this is relentless.
Boy do I feel like the fool.
RSI5 on NDX now 5.84. What next, 1's?
HUI (gold) has lost nearly 25% in last 2 wks. Everything getting hit pretty good. I don't have any of this, gold is tough to play.
Welcome, if you're still short you can retire now. I've been crushed last few days.
That's what I've be doing. But seriously, did you think we'd ever see 6.48?
Since it's options expiration tommorrow, any chance of a rally or will we be nailed to 39 on the Q's all day? Aren't opex days usually dead?
Dell to start using AMD, Intel tanking
Intel getting hit, Dell to start using AMD chips.
Looks like QQQQ at 39 now. They had to zero out all those calls for opex. Hopefully they don't go for 38 tommorrow.
VTO players getting hammered. NDX RSI5 closed at 6.48, UFB!
If you bought NDX last June 21, you're back to breakeven.
You said that last time 2290 broke, hope you're right this time.
If we lose 2190 in Comp that set us up for another 100 pts down?
RSI5 on NDX now 7.21
Every feeble bounce attempt is sold off. Porbably will do nothing till after Friday (options experiation).
Looking good here...NOT. Looks like close on the lows. Maybe 39 or 38 on the QQQQ is the target for friday to zero out as many call holders as possible.
10 Months ago the NDX was where it's at right now. Yup, lets keep repeating "the economy is strong"... f'ing retards in gubberment.
RSI5 for NDX was as low as 7.42 this morning.
Good, maybe we can bounce now. Good trade. Amazing how fast it came down.
With morbid interest, I report RSI5 now 7.42, can it go negative?
Looks like 5 is the target. Now at 7.89 on RSI5. Can't edit this fast enough the way it's plunging.
THere it is RSI5 on NDX at 9.28 what's next rally or we going for 5?
Now 9.11 9:43am
Looks like RSI5 will be under 10 at the open.
Could very well be right. Thats another percent or so and could happen intraday so I'm holding where I'm at. I was paranoid of getting caught in a giant downdraft and that's exactly what happened. Those WS gangsters are good working that wealth transfer machine.
NDX dead on it's ass. Maybe have to wait for RSI5 to be below 10 before a bounce. UFB!
Long +2xNDX from switching last Thur out of -2xDOW at 10:45. Been very painful couple days. Added to long position today in another fund (out of rydex). Breakeven for this month will be a mirical though.
Looks like NDX is back to Nov 9th levels. 6 months of gains wiped out in a few days. RSI5 is at 13.4 and still NO signs of a bounce.
No bounce from 10:45, down another 1% or so. NDX is now less than 1% from being red for the year. Hoping for a bounce tommorrow given RSI5 is below 19. Haven't ever seen that since I've followed it.
Looks like RSI5 will be below 20 any second now. Hummm, not looking good here thats for sure.
RSI5 on NDX is below 24 now, should get a bounce soon (I now hope).
Switching frim -2xDOW to +2xNDX at 10:45.
Why can't we be like Japan and close the markets in the middle of the day? Close between 11am and 2pm, nothing happens anyway and it would save us the effort of watching.
UNH now $2 below your last sell. Crammer I guess after pumping it all year as it's been falling now says sell. What a boob. Just like he recommended selling INTC at 18.90 last week.
Maybe UNH will bounce or is fraud now the word on this?
Moving from -1xRUT to -2xDOW at EOD.
Yes payrolls lower than expected. But that's offset by the 3.8% hourly wage increase. Fed doesn't want the little people gettting wage increses like that... it's ok though for executive compensation to go up 15% per year though.
In general stocks are a hedge against inflation. Go long stocks if inflation. Bonds get hurt in inflation.
Now stocks per Hussman are at the top of thier valuation so I'd be very hesitant doing a go long and forget strategy. Therefore I'm playing short term based on RSI5 signals.
Tommorrow is jobs report day for April so nothing matters till 8:30am.
Staying in -1xRUT2k. I'm on a roll, RUT2K up more than any other index today.