Pabst's Blue Ribbon Trades
- Thread starter Pa(b)st Prime
- Start date
too bad he wasn't elected to congress...he may have been able to beat some sanity into those fawks.
Short spoooooz 74.50
Watch out below. These may be the swing highs.
Watch out below. These may be the swing highs.
Crap. I was short 6. Paid 69.50 for 1 and 72.00 for the the other 5. Obviously I was a scaled buyer lower. I'll sell 'em again.
Short ES again at 76. I have no idea if this will work. For now, no stop. In the IT I think the market is over heated. P/C's this week are showing the first signs of enthusiastic bulls since December. Lotta bullishness among talking heads also. In the VST (i.e. into the close) there may be too many wise guy day trade shorts to get a break. I'm guessing the better setups come early next week.
In fact as I type I'm entering a 75.50 stop. This either works for whatever or I'll still make a half to pay for dinner.
In fact as I type I'm entering a 75.50 stop. This either works for whatever or I'll still make a half to pay for dinner.
I'm out on 73's. If it was going to go in a big way it would've done so by now. (famous last words)
warm weather and sunlight hitting the optic nerve will incite a certain amount of bullishness, but a dog is a dog even in the summer.
Oil at 105 per barrel...hmm...bonds flirting with 4% on the 30 year. Employment data abyssmal...Quote from Spectre2007:
warm weather and sunlight hitting the optic nerve will incite a certain amount of bullishness, but a dog is a dog even in the summer.
No doubt that buying bad news works best as a micro play when participants are leaning short or when the news is contrary to the LT trend. This new fangled joblessness is not a blip, it's the future. Inflation + unemployment = deep problems for government, consumer spending, consumption and hence profits. Bernanke should be shot. Forecasting the recession was a no brainer. We can live through low inflation slowdowns. Allowing inflation to galavant in the face of emerging job loss though is criminal. Now all we have is a free falling real estate market with consumer costs through the roof. Food riots is the headline of to-morrow.
Currency traders seem to be the only ones viewing this data as the death it truly is. Savvy bunch those FX guy's. This economy is heading toward crisis and its becoming apparent that just like Japan's woes in the 90's had little global spillover-few others are in our present soup.
Very nice compliment. I'm humbled and grateful.