“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”!
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