“Gambling here? … Overnight upside vapors? … I’m simply shocked!”
In what must come as a complete shock to the outside world … wait for it … OMG, Trump’s kid had a meeting set up by a Cankles Clinton front group [Fusion GPS; an oppo research outfit for Libtards] and spent 20 minutes talking to a Russian lawyer before the meeting concluded because it was discovered they set the meeting up under false pretenses [“Rick, here are your winnings sir”. … “I’m shocked to find gambling in my establishment”!] And oh my, they promised to have “dirt” on Cankles, and Trump Jr. fell for it … it didn’t take long to figure out it was a ruse and the meeting ended. “Can you imagine that? A political campaign that was actually interested in finding out “dirty laundry” on an opponent? And to top it off, it’s a … wait for it … a Republican, so it’s extra, “double secret probation” bad”!
Never mind the complete hypocrisy & double standards from the likes of Obama & Cankles; 2 Pols who dig and spread “dirt” better than most … remember Obama’s run for the Senate, when he had court sealed divorce papers of his opponent revealed? Anybody remember Cankles in ’08 with the “birther story” on Obama’s phony baloney birth certificate? Oh well, that’s just innocent politics. And still, in what makes them look like the fools that they are, and that the majority of Americans know to be true, Libtards run around like chickens with their collective heads cut off crying treason, sedition, racism, sexism, homophobia, [am I missing anything?], and anything else that they can think of to further their idiotic agenda, and to throw it up against the wall and see if any of it sticks … first it’s “Russian meddling”, then came the “Russians stole the election”, then came the “Comey non-starter”, then “collusion with the Russians”, and now it’s “conspiracy to commit collusion” [whatever the hell that means]. “Anybody but me here see a pattern of moving goalposts? McCarthyism much”?
Meanwhile, Libtards favorite matriarch of “sleaze, corruption, bribery, & influence peddling”, has 2 foundations whose only job is/was to rake in the cash for future political favors; and in what I can only describe as “see my shocked face again”, now that she’s lost, those 2 supposed “charitable” foundations have been forced to close because … wait for it … they aren’t getting any more donations. Oh, and remember way back in the “good old days” when Cankles lived in “Libtard hell” [a/k/a Arkansas] and her and her serial rapist husband ran that scam on old people with the land deal? … You know, where they got ordinary “Sheeple folk” with rotten credit and loaned them the money via a “Savings & Loan” with zero down and an 18% interest loan on the land, and if they missed a payment by as much as one day, the “Sheeple folk” lost the property back to guess who? … well, if you said the Clintons via a shady LLC set up by Cankles named “Whitewater Development”, you win a cookie. And then of course, they resell the land to the next sucker … what’s not to like? Or, if that’s not enough, how about “ancient history” when Cankles first got her start as a lunatic Libtard, when she got kicked off the Watergate investigation [by other Dems] for unethical & sleazy behavior in going after Nixon. And Obama? Well, if he were white and had an “R” after his name, he’d be in prison.
Where we find ourselves, of course, is at a point in time where everybody is Hitler when you disagree with Libtards and/or Libtard Nation over anything; their religion is big government; their alter is climate change; their “wacos” are hellbent on destroying the traditions & greatness that once was the United States. So, the obvious conclusion to be made in this logical “down the rabbit hole” into the Red Queen’s kangaroo court of justice, is that Trump Jr. should be publicly hanged tomorrow, after the judges Barbara “WaWa” Striesand, Rosie O’Donnell, Lena “I sexually abused my younger sister but it’s OK cuz I’m a Libtard” Dunham, and of course Cher, pronounce judgement and sentence on “The View”.
Apparently now, nobody can talk to nobody without a Libtard’s permission, and what we really need is some kind of “Robspierre’s Court” [which of course can change its mind later and find you violated something and you can still be hung] at the national level; moderated of course by the fair and balanced CNN, NYT, & WaPo scumbag types cuz they have the proper credentials in eliteness and know better than you ever could what’s good for you.
The fact that nobody on the Left can see the color of their own shirts [hence, I think they are brown and/or red], or care that they are a total caricature of themselves, morphing into the “thought police”, or in some cases the “Gestapo”, simply amazes me. Libtards occupy one of 2 mental states; they are either dumber than a bag of radishes, or simply don’t mind picking up the mantle of the “Hitler Youth”; neither is particularly complimentary. When some doofus tells me I shouldn’t eat a steak cuz I’m ruining the planet, I tend to think of the former, and when I see feminazis and other assorted oddballs defend Islamists & Sharia law, I tend to think of both at once.
But OMG, talk to a Russian? Now that’s hangable … no matter it was all set up by Cankles “oppo research hit squad”; no matter the parties misrepresented the nature of the requested meeting; nope, all that matter is that Trump Jr. talked to them for 20 minutes and then said “goodbye”. This is what passes as “intelligence” these days; why be surprised, as educational standards the last 40 years have been “dumbed down” by the elitist progressives of the 60’s to a point where Chimps are smarter and have greater “critical thinking” ability than most Libtard college graduates, and especially Pols.
“Apparently, buses run on Libtard bullshit or something.”
And of course, the shifting goalpost theme will not end this week or next; rest assured CNN, MSNBC, NYT, & WaPo will come up with some “crime against God & his emissaries on earth” meme in the days ahead against the evil empire of President Trump. And simply to put a cherry on top of this clusterfark cupcake today, I see in the news where “Jomika”, the 10% of the dynamic duo of Joe Scarborough & Mika B., has decided to leave the Republican party … you know, cuz of “principles” … more like cuz his beta male “pajama boy” testicles are in her Libtard lockbox. Seriously Joe, don’t let the door hit you in the ass on the way out, Ok?
Which brings me to “my shocked face” regarding the stock indices market, and the Dow30 in particular; the “stop hunt” run yesterday was just short of criminal; the 4 “Plunge Protection Team” [PPT] ramps following the “Trump Dump, Part Duex” was obscene [when government does it, it can’t be criminal]. And of course, we’re slightly higher going into Grandma Yellen’s trip to Capitol Hill to face the “Grandstander’s”; so what else is new? You thought maybe they were gonna let this crap sink lower overnight?
Turning to today’s market … 8:30 Yellen’s prepared remarks … immediately following the perfunctory and wholly expected PPT ramp above 21500 [now at 60 Dow30 points and climbing to new all-time highs] I predicted yesterday via the “set up”, and everybody who sold in the 21300’s gets to buy 21500’s, and you won’t even get a “log roll basket” or a Christmas card from the friendly LP come the Holiday’s. And, don’tchaknow, “Everything Is F-ing Awesome Baby!” from Yellen’s prepared remarks … won’t be able to listen to the complete bullshit live, as it might explode my head … but the damage is done; chipmunks get to “buy the high” at the open, retail specs who were long get to scratch their collective heads and wonder how they got completely “F-ed” by the Street yesterday and the dealer community. All I can really say to those traders is that you should be reading my posts and educate yourself in the paradigm of “Central Bank Trading”. Anybody else mention the “setup” going into today as important? Go ahead, scour the internet and let me know.
Right before the open, and it’s “Squeeze The Chipmunks” to see how high the Dow30 can go to fill their institutional orders to buy in the first 5 minutes; can anybody say 21600+, like real soon?
Well, that escalated quickly didn’t it? Chipmunks weren’t the only ones to panic; almost hit 21600 on buy stops … wondering if these were the same folks who had sell stops underneath 21390 yesterday? All cuz interest rates, according to the head Oracle at the Eccles building and keeper of the Faculty Lounge keys, says maybe … maybe … rates have topped out for now. Quite a stark difference from a couple of weeks ago at the June FED meeting where it was “full speed ahead” with rate normalization … what changed?
Here we are 2 hours into “Yellen Wednesday”, where it’s literally been “speed of light trading … crickets”; after you blow the hell out of the order book, first on the long side with sell stops, then turn around and blow the hell out of the short side with buy stops 300 points higher … all in a span of a few market hours of trading within 24 hours, why should it be a surprise we now grind painfully lower to skewer the “Johnny come lately” longs once again? Hell, we’re probably the only ones with any money left after the carnage. Welcome to “central banker heaven”. I’ve seen this rodeo before, and once the orgasmic buying is over from the open, you got a couple of trips back up to test, and once those fail, the only ones who don’t see it are those long looking for more, but not getting it and eventually are forced out. A staggering transfer of money within 24 hours … guess who got the short end of the stick?
And apparently, it’s not over yet is it, cuz the Dow30 is back to where it opened, about 80 points off the high? Even though we got the skyrocket to go off this morning, once again, the “setup” is all wrong … it’s the reason I treated the first trade as a profitable scalp … since then, it’s been nothing but a grind lower to the open, and if this stuff doesn’t stabilize here, we could have a real disaster on our hands by late afternoon. Also, notice the changing dynamic of the market after the opening blitzkrieg to new all-time highs in the Dow30; once we hit the high and had a retest and it failed, almost every single spike since then has been down … did the up spikes decide to go to the beach? How about there isn’t anybody who wants to buy it at these levels, at least for today, and a whole host of people are now looking for chairs cuz the music stopped … should have thought of that before the music ended, but most traders never listen.
Here in the early afternoon, the Dow30 finds itself in “ghost city”; a meandering nothing burger of mindless chop from the LP, where it can’t get below 21525 or above 21540 and stay there. So, the only thing to do is hand out slippage and bat guano fills. For its part, the SP500 is dead right now, not doing anything. And, as always happens, as soon as I write it, some shorts get squeezed and we romp up a quick 20 points on pure short covering. Question going forward today is, can they keep the upward momentum going into the close, or do we drift lower and punish longs once again?
Meanwhile, as has been the case lately, there is no rhyme or reason to the correlations between the Dow30 and the SP500; it’s been going back and forth like a yo-yo, with one leading strongly and then getting very weak versus the other … back and forth, making it literally impossible to read the broader market for trade clues and relative strength. Simply put, your guess is as good as mine which market is telling the truth and which is lying; I’m sure, this is exactly how the central planners like it.
One trade today off the correction from the high … glad I treated it as a scalp, cuz the action since then has not been conducive to trading … nothing but 1 & 2 point range M1’s and then spikes up/down that either catch you or reward you instantly … that isn’t trading, In any event a profitable scalp, as yet again all of the action in terms of trend takes place outside the New York session. On the bright side, volatility has picked up and would be considered low by historical standards, instead of multi-decade lows we’ve experienced lately. Again today, we open and within about 20-30 minutes of the start, you look up and see for the day a 170+ point range … and I’m thinking to myself, “Ok, but what’s left? How are we going to expand this to 200 or 220? Probability says the odds are very low … sure it happens, but you want to take a 5% probability event and trade on it? [I don’t] … that leaves chop and down moves, and if this stuff goes back and breaks the open all hell is going to break loose given what we’ve seen the last 24 hours … and it almost did”!
When you consider the news, and take into account the sudden change of heart with the “faculty lounge” Twits, today’s action is disappointing. Very near the open you had the stops run on the upside, and that robbed the market of buying power later … most of the day enjoyed going lower from those highs, and then the steady climb back that is as enjoyable as watching paint dry … we’re very near the level I liquidated, and here it is 6 hours later … a little song, a little dance, a little seltzer down your pants … please come again! Wait … what? There you go, that’s the day in a nutshell.
Here near the close, there doesn’t appear to be much interest … that could change quickly, but right now with about 30 minutes to go, it’s a “yawner” 10 points under where I liquidated earlier. If the market can avoid 1) doing stupid shit like closing over 21600 today, 2) no overnight “vapors” to the upside, and 3) give us a lower open tomorrow morning, the “setup” will be as good as it was today for more strength in the market. In any event, Onward & Upward!
PAMM spreadsheet directly below.
Time for the beach … dog and I are outta here … until tomorrow mi amigos.
Have a great day everybody!
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