FoggyLights

SPX500: DT Map for Wednesday

FX:SPX500   S&P 500 Index
227 5 14
Practical opinion. Feel free to tear apart my fellow cats.
Comment: and this too
Comment: and this as well
Comment: OK. So this is our map and our addenda. I'm not going to chat much tomorrow and will concentrate on the game.
Comment: One more thing. Why I like SPY. It''s too big to hide intentions. I do get caught by the deceivers here and there.
Comment: 4 hr chart implies a breakout is likely, lots of pressure is building up there, but I'm ready for any surprises. If anything, watching that control line I mentioned yesterday will keep me out of trouble - don't stay long below it.
Comment: don't forget about gradual profit taking, don't fall in love with the rise, lol
Comment: I re-hedged to neutral here. I think we made the high of the day, but the bull is not dead.
Comment: OK guys, I'm starting to get a pretty bearish feeling here (buying is drying up at this level). Be very careful if you're net long.
Comment: my target has been hit, I'm closing the long side of my hedged position here; if we do go higher, I'll re-hedge again
Comment: this artificial spike is not going to last - don't fall in love with it :)
SPY doesn't trust it
Comment: SPY shows extremely low volume for such a crazy spike
Comment:
SPX 1 hr
Comment: going short here (239 SPY), huge volume divergence on SPY
Comment: one epic short squeeze, not going to last
+ this:
Comment: keep in mind guys that the majority of the market never participated in this move today = the pullback will be pretty deep
Comment: emotional stupidity incarnated
Comment: rofl
Comment: http://www.nasdaq.com/symbol/spy/after-hours
real face of the wolf, lol
People get angry with other people. I get angry with myself if I can't understand others. Once I do understand it's a great relief. You can make the best friends with the worst enemies. But don't trust anyone with your life - that's a deadly habit.
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aaaand back to life, lol
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OK. Here's my view on probabilities. Your company has 10 small projects and the history shows that 8 out of 10 are profitable. That's 80% probability of making a profit. The risks are evenly distributed. Not bad. Now imagine that in lieu of 10 small ones you get 1 very flipping big project. Apply 80% probability (nothing changed, right?). All risk is there in one project. Not a good feeling. I hope this helps those who have a hard time getting this.
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Nice move today - noted :)
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Significance of March 14: The Gold Standard Act of the United States was passed in 1900 (approved on March 14) and established gold as the only standard for redeeming paper money, stopping bimetallism (which had allowed silver in exchange for gold). It was signed by President William McKinley.
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