“Inflating shit the old fashioned way … manipulation!”
With last week’s weekly lows clearly in sight in the NDX100, here comes the
“Plunge Protection Team” [PPT] to the rescue right off the low of the day
… “cuz we can’t ever have lower prices again … cuz that might hurt investor
confidence … or one of the “0.001% -ers” might get their “big girl panties”
bunched up”. And outside the Twits from the Eccles building throwing their
weight around, not much to this Monday … Google’s [Alphabet] earnings
after the close.
And what prompted the PPT to jump into the action? … why nothing more
than a President Trump tweet about Amazon … and as the largest of the
NDX100 weighted stocks, we can’t have panic set in when the public sees last
week’s lows get taken out … “heaven forbid”!
The Hang Seng overnight a complete joke … on the day, a very paltry 316
point range … “I’ve seen bigger point ranges in the first 10 minutes than this,
and what with China manipulating everything in sight over in Asia, it shouldn’t
come as a complete surprise to see low volumes & very low ranges”.
A bunch of trades today in the NDX100 … PAMM up slightly.
What can I say about a market that had 3 PPT interventions on the day, and as
I write is up a whopping 13 points? … making a point in this thing is like
finding Unicorn meat … this is one of the worst rallies I think I’ve ever seen
… all that can change, of course after the close, with Google’s earnings, but
even if they report blowout results, how much more can this tree grow to the
sky before deflating some [or a lot]? Again, the monthly NDX100 chart directly
below … “how comfortable are you holding this overnight and through
weekends? … not sayin’ it can’t go higher, but this shit is starting to look like
tulip bulbs in Holland [1636 - 1637]”!
“What could possibly go wrong buying & staying long? … WUT”?
Just to give you some perspective, back when the DOW30 was at 10,000, the
NDX100 was around 2400 … DOW30 now around 25,000 for an approximate
gain of 150%, but the NDX has more than tripled … “yea, no bubble here
alright”. “What’s the pain gonna look like for John Q. Public when he sells his
ETF’s, ETN’s, & NDX100 mutual funds in a down panic someday? … it isn’t a
question of “IF”, only a question of “WHEN” … good luck getting out with the
rest of the public that holds over $5 trillion in these passive investments”.
A very strange day with no action to speak of, except for the 3 PPT
interventions, that make up the entire day’s range over about 11 minutes in
total … other than that, it was Mr. Slim Pickens.
I will have the PAMM Spreadsheet up later tonight, after dinner directly
below. All told, a nothing day really, but a winner nonetheless. This is the 4th
day in a row of the day’s range being at least 40% below the 20 Day Range
SMA … it is what it is. Until tomorrow mi amigos … Onward & Upward!!
P.S. After today’s blog post, look for the blog to be posted between
4:00 P.M. - 4:45 P.M. EST, each trading day.
OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
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