ALIEN VS PREDATOR
The above intraday chart needs to be framed. This was the greatest most blatant PPT buy program move I have ever seen since I have been aware of their action. We had the nice up open and run up in our oversold bounce mode, then all of the sudden we started rolling over. As I had mentioned, we need to start watching how intraday moves hold or do not now. In all honesty, this was minutes from just plunging. Then out of the blue at a time when buy programs virtually never happen ( the lunch hour ), we get the moonshot. This was so obviously the PPT putting a stop to that rollover. I am actually shocked how blatant this was. They normally try to at least disguise a bit what they are doing. This was one of those F... you we won the election moves, just a classic. Here we are this is what we are doing and if you do not like it go jump in a lake, we won remember?
I labeled them Alien just because this is just a foreign type of control we just are not used to. The Predators are the funds. After all aren't they to blame for everything that George Bush is not being blamed for? They are predators on all us normal Joe's. Of course that is absurd, but that is what the media and our government ( aren't they one and the same? ) would have you believe. I actually heard some brain surgeon today say that the mid day move was due to positive rumors on the handling of the financial problems in Greece! This embecile was actually someone who gets paid to work at an investment firm! I have to admit at times I want to get on CNBC and challenge one of these knuckleheads into the Octagon to try and choke some intelligence into them.
Let me make this perfectly clear. Buy and Sell programs in the SP 500 futures are not launched based on some arbitrary opinion some flatfoot has about a possible future outcome of some big picture as of yet unquantified problem. This dumbkopf should know this and if he does not he should be fired. Please don't listen to this bull, and that is what it is. These programs are very mechanical based on cash and futures premiums and discounts. They are moving targets with different triggers, but at their core that is how they are launched.
Today was very volatile up and down due to these programs so there was a ton of intraday action for those who day trade. Below is the largest trade I have on at the moment.
I had mentioned recently I was looking for a sell signal in Bonds and I took a leap there today. The momentum oscillators were lagging the price upmove. Then we got a new high for the move not confirmed by the green line which is Larry Williams Pro Go Indicator. Then I was off to the races with a bar pattern that showed up. Just like most trades, I always think they are marginal when I go into them. This has moved a decent amount so now the worst case outcome would be a small loss. I also took the TBT in the stock accounts to go along with this, which is an inverse Bond ETF. I love all the ETF's that are out there because they often give you the ability to simulate a short futures trade in an IRA account which is just beautiful.
Ironically right before the PPT showed up this trade was looking lousy. Bonds were bouncing while stocks were rallying early, which telegraphed the intraday selloff that we saw. The PPT buy program then forced things back into their new normal relationship, which is inverse. It does look like we are going to carry up a bit in stocks here as I have been saying, but I do not at this point expect it to last too long. If we accelerate I might change my view on this. So far it is really pulling teeth to get any up closes in stocks.