Kudos to MMs

Quote from shortie:

is higher bias indicated by one of the other FV flavors? what's the physical meaning of that flavor?

e.g. FV - long term equilibrium value, OFV - short-term equilibrium level
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I can't go into it. It is not a flavor of FV. OFV already accounts for it in theory, but in the past I have noticed that even though OFV says lower, the market hangs on. So I am cautious. But note that OFV has been imploding, EVEN THOUGH it takes into account the higher bias. The parameter inversion lead again. Everything points to this market imploding hard within days, perhaps to test new recent lows.

The last three units shorts netted me almost 400 handles when we went to 1075 SPX. I think this one might be even bigger.
 
Quote from nitro:

The child has been appeased. Amazing. All I can do is shake my head. But hey, some horses run much better with blinders on.

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The child finds out that the candy was not candy after all, but spinach:

"October Euro Deal Was 'Confidence Trick That Failed' "

http://www.cnbc.com/id/45353564
 
SIFs open with mild downside pressure. The party is over, maybe a day or two of extremely mild if not precarious upside edge. I don't know exactly when (we might even go green Monday), but one day this week, we lose 1200 and very probably see at least 1172.
 
1182 minor support, but inconsequential. 1172, is a very key pivot, and it may bounce off there temporarily.

Holding all units shorts. 1142 is the first place that I look to take some off, but there is no reason to do that either.
 
Don't be fooled that this selloff has to do with SuperCommitte or with MF Global. Those things are adding to the under current of poor performance ahead by maybe 10 handles, but it is not anywhere near the fulcrum of the problem, which is glaringly obvious to anyone that isn't stuck in a hole in the Saharan Desert.

In fact, there is clear signs that the two parties agree with each other at this point on core issues, but cannot pull the trigger and will leave it to voters. It is always funny to me when people use "buy the rumor sell the news" when it is to their advantage, but not when it is not. No one in the entire solar system expected anything to happen at the SC, and markets had ALREADY priced that in.
 
Quote from nitro:

Minor support 1200. Remember there is still a bias higher. Don't go crazy short, yet.
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man, you suck. then again, I already said you're posting the exact opposite of what you think, so man, you rock!
 
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