SHORTS GET ACQUAINTED AGAIN WITH HISTORY

 

“I was assured the DOW30 was heading lower … umm, help!”

History doesn’t lie … granted, it’s written by the “winners”, but when it comes 

to the stock indices, there’s only one truth … and that’s the truth I lay out in 

the “DOW30 Aggressive Scalper Tutorial” [PDF] over in the “Download Links” 

section of the blog in the right-hand column. And one of the many truths in 

there, is that it’s a “B. I. Itch” making a living trading either the DOW30 or the 

SP500 from the short side … yes, there is a time and a place to do it, but it’s few 

and far between.

One of the big problems is that the scumbag LP banks blow out the spread to 

screw the buy stops; directly below from today, are 2 examples of this from my 

order box … take a look at the “tick chart” on the left; bid in blue, offer in red 

… anybody but me notice the sudden widening of the spreads? It’s simply a 

function of filling shorts with bigger losses than they anticipated, and lining the 

pockets of the scumbag LP banks … “The HAL9000 computer system, though, 

says everything is fine. I’m sorry you lost money Dave … Dave, we don’t have a problem do we”?

 

 

“Nothing like a little 7-11 robbery to make your 3 day weekend enjoyable”!

Only one trade today … PAMM up slightly, about $22.

As far as I’m concerned, this day had trouble written all over it before it 

began … end of week, end of month, end of Q1 2018, inflation numbers, and 

a 3 day weekend to contemplate any “stupid shit” that will wreck your  

“emotional capital” … add to that, a market that is psychotic in the manner in 

which it is trading, especially intraday, where as I said yesterday, everything is 

a millisecond blimp on your screen, just waiting to trap you into doing 

something you don’t want to do … “no way do I want any part of the bullshit 

shenanigans going into a 3 day weekend in the afternoon of a New York session 

… I’ve been around too long, and seen too many “Thelma & Louise” disasters in

 my career to get excited about any market … it’s there to serve a function as my 

ATM, that’s it … it’ll be there on Monday, and it will be every bit the “nuthouse” it 

is today and has been all week … without all the position squaring “bat guano” 

going on that has the very real potential to end badly”.

It is becoming increasingly harder for “The Teacup Handle Turns” [THT] to 

give us a good entry point … some will, but many others are so fast on the 

second leg up off the bottom, waiting for the neckline leads to fills that are way 

off the market, sometime leading to 20+ point fills away from where you 

thought it should be. Today saw 3 good THT’s, but two of them were 

impossible to trade; price simply exploded off the right leg of the THT and 

made any market buy order make you want to cry … you simply have to pass 

and move on.

I learned a very long time ago, not to care about where any of these markets 

are priced at; quite frankly, I don’t care if the DOW30 is at 2,000 or 40,000, 

or anyplace in between … the only thing that matters is the “setup” for the 

trade, and booking money … in other words, whatever market you trade, you 

have to view it as your personal ATM … nothing more, nothing less.

A somewhat short blog post today, cuz nobody wants to sit and read for more 

than 90 seconds with a 3 day weekend about to start. No blog post tomorrow, 

cuz markets are closed, but on Sunday, I’ll have a bunch of stats updated for 

the website. Back at it on Sunday night … I’m outta here … until Sunday mi 

amigos … Onward & Upward!!

PAMM spreadsheet directly below.

 

Have a great 3 day weekend everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND

OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN

“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN

FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND

START YOUR JOURNEY FROM WHERE YOU ARE AT TO

“ESCAPE TO SUCCESS”!