Tuesday, January 12, 2010

RAMBLINGS OF A MADMAN

Or is that mad man. Anyway to the point. It looks like they are letting some steam out of the ponzi today to try and keep some semblance of a non-manipulated market. So try and remember what this means to us. A trading opportunity! Of course the world has ended it as we knew it. But NEVER, EVER let that get in the way of a good ponzi.

CNBC trotted out some of the best pumpers they had today. Bill Miller and Bob Dall are some of the smoothest soothing snake oil salesmen I have seen. Hell...I wanted to start buying equities today. It was no accident IMO that these gentlemen were on CNBC today. Their presence was to assuage the frazzled nerves of the sheeple that watch CNBC. For me CNBC provides a view of the herd mentality and let's me get a cheap guage of sentiment. Back to my premise now....relax..hopefully we get a hard fast pullback to buy miners but don't count on it.. This may be no more than a couple down days. I am very low on my miners core and will add on pullbacks today.

Watch DTO. This might be the needed pullback on oil. If oil breaks 80 and holds its probably going to 75. Play it and be careful. DTO scares retail investors ....so play small. GL today

22 comments:

  1. Kli what sort of amplitude are you looking for over the next few days. I've been told the big boys want a Jan close at 1200.

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  2. My crystal ball is not magical.........but your view would not surprise me....thats why I continue to keep small miner core ..although I got low yesterday ...whew....just bot it back and am trading gaps again this morning.....I have little shorts to cushion the fall SH...Dto nice too

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  3. It's only fitting that in this casino, MGM is up a $1 today, heheeee!

    palmer

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  4. What a great day to play gaps on SWC ( 12.05) and PAL ( 4.16), nice.

    palmer

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  5. Glad I hit all cash last night for AA to sidestep that opening. It was complete down bias all the way today. All out here too. I bet we get some good gap plays in the morning, should be a frenzy lol. - Analyze.

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  6. Analyze,

    SWC gave a nice gap to trade today between 12.05 and moving to 12.35 intraday.

    palmer

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  7. I was looking at those early on, but got distracted by shorts and looking for the intraday or market close reversal that never happened. The miners are always a reliable thing to look at in dicey markets. That SWC was a great pick by you, holding up very well. Probably will have another big move in its near future too. - Analyze.

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  8. great call Kli who needs EW and Prechter when we have You:)

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  9. Anyone looking for an adrenaline rush tomorrow, try playing the front months on the BIDU gap; Don't try it unless you are used to BIDU and have a good gap game too. It is bound to be explosive. - Analyze.

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  10. I am stuck with my geriatric miner gaps.....they suit my turtle style...besides ...I have to keep my eyes on that damn dto...auy gives small but steady trades

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  11. DTO is dicey here, there is a snap-back pattern setup on the OIX, and the MAs lurking right over the top of DTO...be careful on that one. I invision tomorrow being a pretty scattered day. - Analyze.

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  12. they may very well fake out the 80 line on oil and take it back over for 85 retest.....hehehe.....I luv this game....thats why if it were easy we would all be rich.....like palmer....hehee sorry joe.....

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  13. We need another Palmer pick soon...a 10-bagger would be good. - Analyze.

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  14. he is hot on PAL....time will tell

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  15. A few have mentioned PAL this year as a GLD laggard. Worth taking a look at. - Analyze.

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  16. All I can say Kil is thanks for all the great info.

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  17. our country is broke and this is what we get:
    http://news.yahoo.com/s/ap/20100113/ap_on_go_pr_wh/us_obama_war_funding

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  18. Analyze,

    50 dma for PAL is 3.21 and 200 day is 2.88, let's see if we get a retracement to 50dma or not, meanwhile playing daily gaps are fun.

    palmer

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  19. Kli, Analyze, Joe any thoughts on NSU. Getting close to its 50dma.

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  20. Temo, there is the volume divergence from yesterday but that is a weaker double bottom structure than optimal and I forsee it having possible problems trying to reverse it's trend at both 2.4 and 2.5, it probably would max out at the downtrend line at 2.6. However, if you enter here to anticipate the reversal you can contain your risk because your stop can be really tight, if it broke AT ALL below yesterday's low I would dump it on the spot. - Analyze.

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  21. In addition to Miller and Doll, they nuked HIG shorts yesterday am with much higher profit guidance. Since HIG has been used as a high beta proxy for the SPX, this was supposed to temper short risk-taking.

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  22. thanx Analyze. The chart is a bit ugly

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