APPRECIATE BRILLIANCE WHILE IT LASTS
As it was with Tiger Woods, so it will be with the PPT. I think to myself constantly that I am so glad I watched all of those brilliant performances by Tiger when he was in his prime. I have said from the get go when the story broke, that I thought he was finished, and I have seen nothing that tells me otherwise. It is so rare that someone gets in the "zone." It is this sweet spot that everyone tries to will themselves into once they have experienced it, and it just cannot be forced. For me I will be able to tell younger people when I get older, that I did watch the greatest that ever played in his prime.
In the world of investing the PPT makes Tiger Woods look like the biggest hack of all time. If they were a football team, they would be going on two years without having allowed the other team one single first down. However, the difference is unlike an athlete, they have the ability to fix the game in advance. This enables them to be in the zone constantly. If they fall out, they change the rules to allow them to get back into it. These bogus holiday electronic sessions, where news events happen, and investors try feebly to sell are like a decent kick return against the PPT. They got a bit lazy, but now that you have the ball in good field position, they are not letting you go anywhere. If you looked at all of these sessions, they play out incredibly similar in the bar patterns and the timing. It does make trading very difficult. The market is so one way there is no balance at all to it. With the Congress now in control of the Repubs, it is possible that this whole can of worms might get opened up.
I maintain that it is better if they don't, but there are a few people who I think are ignorant to what is going on and are bound and determined to take a deep look into the FED. If they do, this whole fraud is going to get exposed. I think almost anyone now gets it that it is so unnatural for there to be only ebbs and no flows. There needs to be some two way action to have balance. Unfortunately, when the pendulum swings this far in one direction, it will swing back in the other just as far. That will be a difficult time when that takes place. As I have said many times, volume is their enemy. They cannot manipulate price like this when the volume stays strong. We have had such light volume that it has been easy for them to guide this market.
This is the darndest run of this type of manipulation I have ever seen by a country mile. However, as I stated the other day, I still have no sell signals. Also, I trade very light around these weird electronic session only days. They tend to have this one day move then immediately reverse the next day type of action like we are seeing in so many markets today. It is clear, if you are a short term trader, just look for buy signals only and ignore the sells. I would not worry about missing the "big one." Who is to say you might not lose 50 in a row before it shows up.
We have had an incredible explosion in the price of Silver, and those metals bugs continue to rake in the big bucks. It is now the time of year when typically these markets make their highs for the year, although in recent times it has not been the case.
This is just an amazing run no matter how you look at it. We now have a potential blow off top although hardly any justification for taking a run at shorting this here. You can see the oscillator has blown up to it's highest reading ever which is what you would expect for a price move like this. We have had a monster outside bar now formed here. The only way to trade this in the near term is on intraday charts, or if you are a long term player, just holding it and turning off the computer. The stops on daily trades are absurd and not prudent risk. You can trade the mini's, but I would not recommend doing anything right here. We need to let this calm down a bit first. We had an explosion of buying when the old highs cleared as you can see the last 3 large range bars. Old chartists would tell you that if we pull back to those old highs, you can buy there. I like that concept and have seen it work at times, but have also seen it fail, so I don't know if there is any edge to doing that. Let's face it the doomsayers have been right all along in this market so I guess follow what they tell you to do.
For today, I think it is best not the do much and let the smoke clear and the PPT do their work reversing that electronic session that they were pissed off about coming into today. In a day or two we could have some things to look at here.