Premarket 10/7/10

Funny how the market rotates, ain't it, the Q's have been the leaders for quite a while, and they were by far the worst performers yesterday, as all those high dollar cloud computing stocks, and some of the other ones, all took a severe beating over the earnings report out of EQIX, or, maybe "investor's" are starting to think that maybe they ALL won't be brought out for like double or triple what ever the perceived valuation is, like INTC paid for McAfee and the ridiculous offer that  HPQ made for that out fit, who was that, hmmmm, it had a golf name, yea, Three Par. Wad ever, TSV has been plunging on the Q's while MS moved up to the Zero line and failed to get over it, and they've failed to get over this current consolidation, whereas the SPY, the top chart, has made the break over that same consolidation, and TSV looks a little better, although MS looks MUCH better, although it is still below the ZERO line. Even so, the Q's have at least managed to climb above the May high made after the flash crash, while the SPY has not, and the SPY put on an ugly looking Hanging Man candle, RIGHT AT that long term down trend line I mentioned, although the Q's candle doesn't look any, quote, "better", wad ever.
Well, earnings season get's going tonight, finally, with AA stepping into the confessional, although it doesn't really get into full swing until next week. AA will have NO effect on the market, for the most part, unless they same some thing really good, if they give their typical shitty report they've given for the last 20 or 30 years all the yakking screaming yelling talking heads will say it's stock specific, and not to worry, although I THOUGHT EQIX was stock specific as well. I've owned a stop loss Leap option position in AA for stinking months, and I'm selling half today ahead of the report, and taking my chances with the other half.

Interesting interview with Rossie and Ryding, http://bit.ly/cJqD8g .

Premarket 10/6/10

9:30AM: The SPY and SSO have just about one of the best looking rounded tops I've ever seen (I prefer rounded BOTTOMS of course, hhhhhmmmmm, roooooounded bottoms), this is a natural short with a stop over the highs, unfortunately, I have such a shit attitude about the markets I won't be taking it, one baaaaaad thing, is the TSV indicator is not cooperating, but, HEY, you can't have every thing.

6:45AM: SURPRISE!!!! Hahaha, the futures have pulled back after the ADP report came in much WORSE than "expected", "THEY", "EXPECTED", an "INCREASE", of 18K jobs, INSTEAD, we got a "DECREASE", of 39K jobs, HAHAHAHAHAHA, I'm tellin Ya, Wall Street truly is La La Land, THEY DON'T HAVE A FRICKING CLUE!!!! Anyway, we WERE UP 50 or 60 points, we are now back to about even.

I added the top chart for those of you with some "animal" spirits, GROW is one of the "WILD THINGS", it can go like a MF'er when Da Boyz get to moving these peices of shit, it had a nice little TSV and MS pop yesterday, and, "COULD", go, "MUCH", HIGHER! On a side note, I have no idea why the call letters of "GROW", this thing has never "GROWN" earnings in it's life time, wad ever.

I included the other two charts of the indexes because we are coming up on a long term "POINT", those are both weekly charts, the top one is from Telechart with the bottom one from StockCharts.com, what I did was draw a trend line from the all time high in 07' down through the top in April of this year, the Telechart one (which I trust a little more), is hitting the trend line right now, whereas the StockChart one shows a little more room left to rise. Wad ever, this "could" be a very important point, we shall see, won't we!

Good luck to you out there in La La Land today, HAH, ADP INDEED!

5:00AM: HAH! I did the lower part of this post last night before I went to bed, the charts and movie reviews, it's always fun to get up in the morning and see how I felt the night before, hahahaha, sigh! You probably get the impression I was a little upset at the markets, but that's not the case at all, what it was, was I was flaming pissed off about my brand new Internet connection, SIGH, the fricking thing keeps going off and on, the way I was trading yesterday was to wait until my IB platform came on, put an order in real quick, then it would go off, then I'd go lay on the couch, and I'd wait to hear the "BOINK" when the order got filled, go over and see what happened, then wait for the Inet to come back on, put a sell or buy to cover order in as fast as I could when it came back on, go lay on the couch, blah blah blah blah, I found that it's really kind of exciting, kind of like Forest Gump, you just never know what your going to find when you hear the "BOINK" go off, hahahahaha! What really pissed me off was that I was laying in bed last night, and I came up with a cool idea about what might be wrong, but when I got up this morning, I forgot what it was, hahahahahahahahaha!!! Wad ever, it seem's to be working all right this morning, maybe "they" decided to fix it, "THEY", being Goldman of course.

Speaking of Goldman, I now realize what the pump was about yesterday,

"Goldman's Top Economist Says There Are Only Two Scenarios, Bad And Very Bad",
Read more: http://www.businessinsider.com/jan-hatzius-very-bad-scenario-2010-10#new-data-points-to-a-deeper-recession-and-a-slower-recovery-1#ixzz11ZsZu6jR .

Hahahahaha, I'm tellin Ya, Goldman thinks the economy has two possible scenario's six to nine months out, either BAD, or REALLY BAD, IE a double dip, or more likely, a completely NEW recession, WAD EVER, I guess the market is blowing up because of course it's a discounting mechanism, so I guess the three days we pulled back before the blow up yesterday was the "discounting" of the coming Armageddon, HAHAHAHAHAHAHAHA, HAH!

Just to show I'm fair and balanced ("balanced" indeed, I'm actually totally unstable right now), we got some decent consumer news out of Mastercard this morning, http://yhoo.it/bXey74 , as retail sales did fairly well last month, now, with news like that I can accept the futures being higher, and they are this morning, the DOW about 30 points, we'll see how the rest of the morning goes as we get the ADP and Challanger job reports before the open, the next area of resistance in the S and P is at 1170, which we may try to challenge before the open.

Hmmmmm, my Inet is acting like a rocket ship this morning, maybe they fixed the stupid thing over night, COOL, now I can lose money REALLY fast, hahahahahaha!!!

Speaking of movie reviews, I'm going to be reviewing "Tooth Fairy" soon, stay tuned!

Don Worden said that was the strongest UP day he thinks he has ever seen yesterday, he talks about dominate relationships a lot, and his PUVU, Price UP Volume UP, had over 2000 stocks of the Russell 3000 showing that yesterday, it's just totally amazing what can happen when the leaders of the financial worlds, the FED's of the various countries, all try to continue to do what has failed in the past and race each other to see who can devalue their currency the fastest, hahahahahahahahahahahaha!!!! Wad ever.
If you are hankering to chase shit then I got a few of them above, if the "reflation" trade is going to get into a frenzy to see who can crush their consumers the fastest, then these should do what Big Bertha told me to do when she dragged me out on the Dance floor at the Senior Prom, that is, MOOOOOOOOOVE! The top one comes from the Worden Bros., MTZ, I mean, if the world wide economic boom is for real then we are going to be building shit out the Ying Yang, so it should finally go along, TSV and MS are moving solidly to the upside.
The steel stocks are a natural, I got "X" on the middle chart, but they all look the same, me, I prefer like AKS or STLD as they aren't as wild as that beast, there's not a damn thing on that chart that says higher, but, HEY, since when does that matter???!!!
Even UNG, next to bottom, got a little bid yesterday, the chart looks like dog shit, but they gotta use a ton of gas to fire up the generators to put all the shit together that the broken consumers won't be able to buy, so, it should be taking off like a rocket shortly!!
Ditto with PCX, with China firing up all their coal factories to produce all those goods that the .31 cents an hour FoxConner's are going to be buying, this thing should GO TO DA FRICKING MOOOOOOOOON!!!

After hours there were three important earnings reports, and they all missed of course, BUT WHAT DOES THAT MATTER, MOS missed the night before, was down like 5% in the after hours, and they closed it higher by 3.5% yesterday, hahahahahahahahahaha, IT DON'T STINKING MATTER!!! YUM was only down 10 cents or some thing like that after missing and saying that commodity and labor inflation would weigh on their future growth, but isn't that what the FED wants???!! SO IT MUST BE GOOD! One of the high flyer Techs, EQIX, was down 26% after missing and lowering all future guidance because of having to go to discounting and their churn rate picking up steam, but, IT DON'T STINKING MATTER!!! RAX, another Techie high flyer, was down 9%, and I can't find a damn reason for why it was, other than, IT DON'T STINKING MATTER!!
Hahahahahahaha, you kind of get the idea I'm a little, aaaaaahhhhhh, jaded, sigh, wad ever, buy the shit out of this market, we're going to be seeing those April highs pretty soon, that is, at least until they actually get earnings season rolling in another week, then, we shall see, what we shall see.

 Rampant Inflation In 2011?  http://www.infowars.com/rampant-inflation-in-2011/ , hahahahahahahahaha, forget it Pal, EVERY ONE SAYS THERE AIN'T NO STINKING INFLATION, it ain't gonna happen, unless the FED gets their way of course.

Among the many things I cover here is Movie reviews, I watched "Amelie" a couple of nights ago, http://www.imdb.com/title/tt0211915/ , and I found that if you can make it through the first couple of hours it's actually not to bad.

Premarket 10/5/10

7:00am: SIGH! Nothing like wasting time posting some thing that becomes almost irrelevant the minute you push the send button, futures have been kind of blowing up since the lower post, the supposed "reason" being because Japan is going to continue the failed policies of the last 20 years, and continue doing what HAS NOT WORKED, hahahahahaha, sigh, talk about the definition of madness, "Stock futures rise following Japan's move on yen", http://yhoo.it/cTtKTM .

Wad ever, the pop in the futures has not really, actually, "really", not totally invalidated the lower post, although they are right on the crusp, a case could be made that the triangle is still intact, in fact it may be a "better" short set up after the open than if they had dropped. I circled the "commercial" trader's under the charts, as from what I can see they are doing exactly what the COT Timer was talking about on Saturday,

http://cotstimer.blogspot.com/ , that being that they've abandoned ship, and his "systems" are bearish, or in cash, for the next, like, four weeks.

Lot's of good post's from the Blogger's over on the blog list on the right side, check'em out if you get a chance. In my own case I'm in complete chaos, STILL, as FireFox is reeking havoc with the Blogger format, you may have noticed some simple little things like the Font changing on different posts, I can't go back and ADD items to the current post ABOVE the previous posts, blah blah blah blah blah, it's just turning into a disaster, sigh, wad ever, I'm back on IE for while, to give me some time to work with FireFox on a seperate basis until I get it worked out.
Good luck to you out there in La La Land today. Buy ERTS!!!! EEEEEEEEKKKKKK! Unless you missed the move yesterday, in that case it might be wiser to wait for a little pull back now.

 

5:00am: Futures are higher this morning, DOW about 20 points, as "hope" reins eternal. We are at an almost surreal point in the markets here, this 1150 area on the SPX, or 115 on the SPY above, is the January high area, plus the gap down during the flash crash period, in the middle circle, plus it's the top side of the infamous Head and Shoulders pattern that, through a miracle of course, keeps getting broken, although it's probably still as much in play as it ever was, but we have to break the July lows before it kicks into gear. For right now though, the INVERTED H and S is in play, with much higher prices in store if it plays out. The current little pull back really started with the BOF day last friday, when we failed to follow through when we gaped over the highs of the consolidation and that middle circle, the problem was that besides being over bought out the Ying Yang, the indicators we all diverging against the pump, with TSV and the RSI 2 leading the weakening new highs, I have no idea if the pull back follows through, but if it does, the line in the sand for people who want higher prices and shitty valuations would be the 200DMA around $110, which also has one of many unfilled gaps sitting below us that are just screaming to be filled. On the weekly chart, not shown, we actually triggered a sell signal, for as unreal as it seems, we actually took out the lows of last week yesterday, that's how tight that lousy week was, and with the gap down and then the take out of the prior weeks lows, it's a sell signal, with a stop over the highs of last week. Good luck with that one, I see NO WAY the Democrap's are going to allow the market to dump ahead of the elections, wad ever.

The Elliott Waver's are talking about us being in a possible 4th wave on a bigger picture, and if so we have a triangle setting up on the 15 minute charts that might support a move higher, after a couple of whip arounds of course. You always start the count on these things from where you enter into them, and in this case the low of the 24th has to be used, as that's where most of them say Wave three ended, so that would be point 1, with the high of thursday as point 2, then the low yesterday being point 3, and now the fun starts. "IF", this is a 4th Wave triangle, we "should" rally up and touch the upper edge of the triangle for point 4, then pull back and go after the lower edge of it for point 5, where we could get a "throw over" by the way, which Da Boyz may do just to scare the shit out of every one, then turn around and blast up through the top of the triangle, never to see these numbers again, in my life time at least. The other scenario is that it's NOT a 4th wave, in which case that little rally into the close yesterday was just a bear flag, and we take off south after the open and break below the lower trend line, if that's the case we would probably get a confirmation of lower prices ahead of we then rally back up to "test" that broken trend line, weaken, and then take off south again, as per the red lines.
Wad ever, at least it sets up a couple of very obvious R/R points which ever way "they" take us.

Premarket for 10/3/10

The Sentiment Trader seasonality averages say UP on monday, down on tuesday, up on wednesday, down on thursday, and up on friday, Hmmmmmmm, let me see, hhhhmmmm, I can't for the life of me see a pattern there. It all sounds good to me though.
  
Here you go, if you like being told what to do this site tells you, Americanbulls.com,  
http://www.americanbulls.com/weekly/StockPage.asp?CompanyTicker=SP500&MarketTicker=NYSE&Typ=I , they hated last week's candle (who DOESN'T, eeeeerrr, who doesn't LOVE it, hahahaha), anyway, they are saying to SELL the thing, the thing being the SPY.

Lots of good articles at Financial Sense last week, "Prospecting For Bubbles", http://bit.ly/9CZhuH ,  "Treating Symptoms, Ignoring the Root Cause", http://bit.ly/duM1a9 , "The Moment of Truth has Arrived?", http://bit.ly/alGbbt , etc etc etc.

 

 

YOU KNOW, I spent four fricking hours on Saturday on this post, and yesterday I basically deleted the whole fricking thing as a peice of shit (Hahahahahaha, like, that's NEW???), and then it pissed me off so much, I decided SCREW IT, so I'm posting what's left of it. Basically I ranted and raved about fricking Bernacke and his destruction of the dollar and what it's going to do to the average American consumer, blah blah blah blah blah blah blah, wad ever, it don't fricking matter, the bastards are out to destroy the country, so, GO FOR IT MF'ERS!!!

Hahahaha, geeze, I'm so pissed off, wad ever, basically if that dollar chart breaks that lower trend line, woooooo weeeeee, it's back to $5 gas at the pumps, and El Collaspseso of El Consumero, AGAIN, IGE under that dollar chart is basically back where it was in 07' before the huge pump started, DBP under that chart is saying Armageddon is almost upon us, and HOW IN THE HELL can the TLT be going UP with the fricking markets at the top chart????? This is just, well, spit spit, figure it out for yourself, and when you do, please be kind enough to clue me in, for as you know, I'M CLUELESS!!! PS: I included the VIX chart because the thing sure looks like it's going to go LOWER, sigh, I'm bringing that up because I'm sticking my thumb up my ass and having to partial into the SSO to keep the ratio's at least half ass close, sigh, wad ever, that's just kind of a personal dumb ass thing I'm doing. God I was pissed off saturday, hahahaha, and the stupid thing that got me going was this individual that likes to post like a couple of dozen charts in the BreakPointTrades chat room, is that stupid or what??? Moody SOB!

This is totally off track, well, actually, it's not, but I'm starting to think that COBRA has my favorite FREE site, check him out, he's on the blog list on the right side.

The only part I left completely intact is the part below here, missing between HERE, and, THERE, is about a dozen paragraphs of dumb ass ranting and raving, sigh.

That is one uuuuggggiiillllly looking weekly candle on the SPY at the top chart, woooooooo weeeeeeee, there's a couple of other ones that I circled that look remotely similar, but I'm looking at the MS indicator, Money Stream, in both the prior cases it was above the Zero line, and currently we've hardly budged off the bottom since the July low, that's the blue line in the middle box, ya know, people are just not buying this thing, there's no reason in hell we shouldn't gap down tomorrow and be off to da races, but of course, that ain't gonna happen, can it??!!

Peter Worden had an interesting bull/bear debate in his column Friday night, actually, it was more of a Bear/Bear debate, one saying we're going down because of blah blah, the other saying Obama will demand Bennie keep the POMO's going until after the election, wad ever, I tend to side with the Obama guy for what it's worth, but the first guy brought up an interesting comparison, if you want to call it that, between the run up after the 2000 "recession" (never in the history of man kind have we had a, "recession", in which housing was going gang buster's, as proved in the "REAL" one we just had), and the 09' run up, actually, there's NO comparison. The bottom chart is now, the chart above it is from 2000 to the 07' top, I'm only showing them in order to show what a "real" rally looks like, if you look at the MS indicator it took off like a rocket after the 02' bottom into the retest in 03', and basically stayed above the Zero line until the 06' pull back, then rallied into the mid terms in 06' and up into 07' where it made the classic lower high at the 07' highs, great stuff.
The rally in 09' is like, TOTALLY OPPOSITE, I mean, rather than make a higher low at the March 09' low, like we had in 03', it actually made a lower low than the October 08' low, AND HAS NOT MOVED OFF THAT FRICKING LOW SINCE THEN!!! I mean, spit spit, this is horrible, gag gag, cough cough, puke puke, yucko yucko, wad ever, go for it, it's a screaming fricking buy, and, sincerely, I wish you the best of luck.

Weekly MSW Update

 

The software is a little screwed up on the daily charts of the various ETF's, I mean, it's decidedly bearish as it has about four new short signals for every new long signal, but it's kind of confused as it's contradicting itself as shown on the charts, it wants to buy the 3X bullish energy fraud, ERX, while it wants to short the DBC, hell, I guess you could buy the ERX and hedge it with the DBC, wad ever, if Uncle Bennie has his way commodities will soon be going through the roof, as if they haven't already, as most of them are back to the levels they were just before the blow up in 08'. The software is also pretty bearish on an over all and continuing basis, as it's currently on about nine short signals for every three buy signals, so it's not to wild about the short term direction of the market. To me the patterns look just about the same, as the new buy it likes on Canada, EWC, looks the same as the new short on the UPRO, which I might add that the software likes on a longer term basis as it has a confirmed buy on the weekly chart. I don't care for those "continuation" buys, IE, you buy it high and "hope" you can find some sucker to sell it to a little higher, but wad ever, that's just my personal opinion.

 

It's pretty bullish on the longer term weekly charts, with about two new buys for every .5 new short, while on an over all and continuing basis it's on nine buy signals for every five short signals, so I guess the software is playing an election pump just like every one else. It likes several of the emerging market ETF's, I have EDC on the chart, but they are all the "continuation" buy set ups I talked about above, if FoxConn get's off their ass and cuts down on the suicides by raising their basic wage rate to .32, or hell, even .33 cents an hour from the current .31 cents an hour, shhheeeeeeet, the whole emerging market bunch will probably go to Da fricking moon! The BDD long in the upper right corner looks pretty interesting, as in, hahahahahaha type interesting, it recently broke it's main UP trend line, and is now trying to BACK TEST that trend line, while at the same time it is running into the DOWN TREND line from the January high, woooooo weeeeeee, that sucker could go either way. 

The two shorts, EWU and it's colony EWC, are an example of what I don't like about the software, the fricking patterns look exactly the same as the ones on the buy charts, sigh, wad ever, if I had to make a choice, naturally, I'd buy our friends to the North and short the shit out of that little Island just to the east of New York.

 

I'm including the signals the software spit out for the various SHORT ETF's, just for informational purposes of course, as no one in their right mind would EVEN think about trying to short the markets, right?? RIGHT???!!

 

The software is pretty bearish on the daily charts of the Russell 1000, spitting out about four new short signals for every new long signal, on a continuing and over all basis it's just as bearish, with about 8 buy signals for every 16 short signals, so it's definitely trying to be short of the big caps.

Speaking of those big caps, I put BAC and GS on the long signals, I mean, the software likes them, but personally I hate the pattern, they basically stopped the drop right out in the middle of clear air, and all they've done that I see is kind of flag back up under the moving averages, wad ever, never underestimate the tendency of Da Street to pump their own outfits, it's also fond of JPM, so I guess the whole bunch is going to pump each other up. One I do like, that I don't show, is ERTS, it's listed on the bottom list, it has a cool side ways base for the last month, nice and tight, and this is the start of the seasonality plays for these gamers, just a thought of mine. 

To be honest, I really don't care for many of the short setups, the over all trend in the markets is up, FOR NOW, I only put CREE on there because it's a "confirmed" short as per the software also has a new short on the weekly chart below. There's no pattern on the BG short either, as far as I can see, I only bring them up because the AG space kind of struggled last week, like MON, MOS, AGCO, DE, hell, even the most expensive stock in the DOW, on a P/E basis, CAT (technically, VZ at a P/E of 126 and BA with a 51 are the actual "winners", but who's counting, with a 32 P/E CAT's trying to out do the Dot.comer's, IMPO of course) , actually had a down day, some thing may be amiss with that space. 

On the weekly charts the MSW is undecided, with two new longs for every two new shorts, but on an over all basis it's still bullish, with about 17 buy signals for every 9 short signals. PSUN has rallied up to a long term down trend line, and stopped, should the market makers gap this thing up this week it would be a break out, although for the life of me I can't figure out why they would be running a summer wear outfit higher after summer is over, wad ever. MGM is one of the "wild" things, it's moving higher under the constant threat of going broke, hahahahaha, the roaches just love to run these newsy things until one day it DOES file BK, and the "analyst" say, well, YOU KNEW, they were on the verge of filing. so why'd you buy it, IDIOT!
I'm not real wild about to many of the short setups, I only have CREE on there because I hate these things that rely on "intellectual property" rights as their main source of income, IE, their business plan is to sue every one, much like that udder roach RMBS, wonderful outfits they are. NFLX had a classic BOF, break out failure candle, on the weekly time frame, naturally though, I wouldn't even remotely consider longing or shorting this thing, it's in that mode where the higher it's P/E gets the more "they" drive it higher, I'm mainly showing it because a few of the "high flyers" showed up on the short list this week, like DNDN, ENR, RHT, JNPR, SOHU, YUM, CRM, and LVS, I've seen the software do this before, a LOT, it basically hate's the fricking pattern, so it keep's trying to short it, eventually it will be right of course, so it can mouth off at me about see, SEE, I WAS RIGHT!, but of course, by that time I'm broke.

TRAIN SAFTEY!!

HOW TO CORRECTLY HOLD ON IN A MOVING TRAIN!!

NO NO NO!!! IT'S THE OLDER GUY BY THE STINKING DOOR!!

I SWEAR!! GET YOUR FRICKING MIND OUT OF THE GUTTER!!

Thanks to my old buddy Tom Olsen, and I used to think he was crazy for riding the train, hahahahahahaha!!

Thanks to Sysin for reminding me of my many shortcomings, hahahahaha, penny stocks indeed!

Premarket 10/1/10

5:00AM: COOL! Sysin gave me a link to a post by MarketSi that comfirmed what I've always known, DA BOYZ DO THEIR DIRTY WORK IN THE OVER NIGHT MARKETS!!!!! Hahahaha, fricking roach's, http://bit.ly/aJpik7 , wow, what a difference a night makes! I guess the post was mostly about how bull markets play out in the over nights (SURPRISE SURPRISE!!), while bear markets play out after the open, I mean, this comes as NO surprise to me, who in the hell would want to buy this pumped up ponzi shit to start with!!! Da Boyz know they can't find any one to buy these things during the day, all people do is SELL after the market opens, so they do it by themselves during the overnights, in order to perpetuate the climbing the wall of worry bull shit, or wad ever, any way, interesting article, I have read at least a couple of other FACTUAL articles that confirm these findings.

Speaking of the ponzi bull shit, Da Boyz are working their magic in the over nights, ALTHOUGH, we aren't up as much as we were, DOW about 20 points, we were up around the 60 point mark. This pales in comparison to the 200 point drop we took yesterday after they pummped that maaaaaaaaaaaavelous 1.7% growth into the open, hahahahaha, wad ever, although I will admit the Chicago PMI was pretty good, it will be interesting to see the ISM this morning at 10:00am (sorry, had the wrong time in there earlier).

Anyway, that bar yesterday has SELL all over it, which, naturally, means we probably go higher. One thing was that was just about one of the coolest, and just about the most perfect, bear flags I've seen in some time on that 15 minute chart at the bottom, it showed up on a five minute chart really well to, that trend line goes back to the low of a week ago today, before the dumb ass gap up LAST friday, once we got the trend line break yesterday we spent the rest of the day "walking" back up higher UNDER the trend line, these things can take a while to play out, as this one did, and the break didn't come until we had the BOF, break out failure bar, in the red circle, with the drop into the close we SHOULD have some follow through, of course that would be in typical markets, not this pumpalowcious market with the FED and government doing every thing they can to hold us up. Wad ever, for what it's worth the daily bar was a BOF as well, sigh, a lotta good it's going to do. Also, EWI mentioned this as a "popgun" setup, this is where we get an outside bar preceded by an inside bar, the inside bar was wednesday, and of course the market is "supposed" to continue in the direction of the outside bar, which in this case was also a bearish engulfing bar yesterday. This is actually quite the pattern as we also had an outside bar on tuesday, hahahahaha, so this is upside outside bar followed by an inside bar followed by an outside down bar, wooooo weeeeee, just tons of stuff the FED can attack and render useless.

I watched Stan Stovall of S and P last night on NBR, and he came up with some pretty interesting stats, as always. I like Stan by the way, he's always seemed like a pretty straight shooter, although he has to be a salesman as his company demands it. Anyway, besides the typical stuff, like beginning with the current quarter this starts the single most bullish period in the Presidential cycle (YUCKO, it makes me gag to mention that word in conjunction with the current administration, or the last one for that matter), that being the last quarter of the second year going into the first two quarters of the third year of the first term, the S and P has AVERAGED over 17% gains in the third year of a first term president, but the stat that really surprised me was his finding on split houses in Washington. Despite what most punster's would have you believe, a Republican win in CONGRESS is NOT very good for the markets, it's not the Republicans winning the house, it could be the Democrat's in a Republican administration, but it's much better for the markets if the party that's not in the current administration win's control of the Senate, with the administration's party retaining control of the house. The reason, after he explained it, seems pretty obvious, the house spends most of the money in the country, and when the minority party win's control of Congress, they tend to clamp down on spending to try and make the Administration look bad going into the next election, which reduces that 17% gain I mentioned above, to some thing like an average of a 2% gain, quite a difference. So, gridlock is good, but only if the right split is done, and it appears the Republicans "may" win Congress, so that may not be so hot. The can read the interview here, http://www.pbs.org/nbr/site/onair/transcripts/sam_stovall_with_quarterly_outlook_100930/ .

The life change is complete, now I just sit back and see what kind of disaster it turns into, sigh, I'm finding little things I meeced before, I'm sure I'll find out a lot more down the road.