DISQUS

I think the 3-push pattern is the most encouraging for the bears/worrisome for the bulls. The potential break of the 50day (probably too close to call a break at this point) is also of interest. The volume divergence... it's summer so you expect volume to tail off anyway, so that may just be a function of the time of year rather than a sign of weakness in the market.

The general 880 area "should" be strong support. Several candles tested it from below before the breakout, and immediately after the breakout I count 6 candles that tested it as support from above.

Also, let us not forget the bearish rising wedge from mid-April! We had a volume divergence, we had a 3/10 momentum divergence, and price was hitting up against the February highs. Perfect place to take some shorts and I took some that Friday afternoon, risk/reward seemed quite good so why not. Over the weekend as I surfed around the blogosphere I kid you not - every single blog I visited was bearish and almost all had that same pattern posted and right away I'm thinking "uh-oh..." LOL! So on Monday we have a monster gap down and I'm thinking "ok, maybe it will sell off after all", but after the gap there was very little follow through and we ended up finding support at the 20day ema and shooting up to new highs 2 weeks later. Which was to the surprise of pretty much everyone - including me!

In any case a break of that neckline would offer good risk-reward, so probably a good trade. Can't get ourselves psyched out worrying "what if it's a fake-out"... just have to take our positions and let the market do what it's going to do.

Incidentally - I notice that if you bought FAZ at the top of that false rising wedge when the S&P was around 875 you'd have paid around $10. Now with the S&P at 896, basically one more down day away from being back at 875, FAZ is just over $5 - nowhere near the $10 you paid for it. So if the S&P gets back to 875 there's no way FAZ will be back to even - it'll probably be around $6 or so. If you shorted ES at 875 and not stopped yourself out you're one down day away from being even. If you had done the same with FAZ you're nowhere near even and who knows how low the S&P would have to go to get you back to even! Scary!!!

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2 days ago

in What Would Joan Crawford Do? on What Would Joan Crawford Do

Let's git her!

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3 days ago

in Even Rock Band Websites Use WordPress on The Michel Fortin Blog

I think the site looks great! A friend of mine is looking for help with her new band site - I'm trying to decide whether to use Drupal or Wordpress. You may have pushed me toward WP. Thanks!

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4 days ago

in I am not entirely sure you’re supposed to brag... - STFU, Parents on STFU, Parents

I need to take a big steamy shit next to people when they're eating from now on... that way you guys can see what it's like to nurse a baby in the bathroom. I didn't even BF all of my kids and I still think you guys are being ignorant

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1 reply

Wow, you're a moron I wouldn't consider something that someone posts to their blog COMPLETE with my child's photo next to it "anonymous internet snark". That would have been if you made a very vague statement about something you saw on the web...not posting a screenshot of a Facebook update with a photo. You really don't get it? I mean I KNOW that you don;'t have to be bright to put a blog up on the net, but I didn't realize that it didn't take basic common sense. Guess not.

4 days ago

in Newest Style Muse Dree Hemingway's Ultra-Cool Pad...Revealed! -Refinery29 Pipeline- on Refinery 29

^ agreed

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1 reply

Stephanie You guys! It's minimalist!

p.s. I love that 'the newest downtown sensation' is always some daughter of a rich/famous person. It's pretty easy to have great stuff when you've got a trust fund.

5 days ago

in The Daily Alison (where I read you a story and show some pictures) on Alison Rosen

great eyebrows

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5 days ago

in BET Awards Dominate Twitter, Causes Racist Backlash on Black Web 2.0

i think youre mising the point. omgblackpeople was trying to shed light on the racist twitter haterisms, not perpetuating it.

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1 reply

#mountaineer# based on that reply you must be "#omgblackpeople"

5 days ago

in Why REIT ETFs Are Recovering on ETF Trends

Not very informative.. just an opinion

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6 days ago

in The SEC Needs Your Feedback on Zero Hedge

The SEC doesn't care. The SEC exists to protect the biggest fish. They only look for little fall guys to pad their numbers. Pathetic. And to think that Fed Expansion proposed by Obama would only tighten this situation. Terrifying. We don't have a "free market" economy anymore. As much top elitist collusion as a communist Russia. And the elitists crafted such a great marketing/Hollywood campaign to get the perfect face man for their newest round of fleecing.

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6 days ago

in http://localhost/solar/index.php?option=com_content&view=article&id=58:tutorials&catid=34:demo-content&Itemid=69 on Disqus For Joomla!

sdassdasdasdas

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1 week ago

in How is this website real? Who wants to go pirate hunting in Somalia? on Boozeworthy

My favorite part...

"I got three confirmed kills on my last trip. I'll never hunt big game in Africa again. I felt like the Komandant in Schindlers list!" -- Lars , Hamburg Germany

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1 week ago

in Too Much Nick on Nick

>The following is not a perfect analogy, but here goes anyway: read this brief Wired story on >the awful, awful song that was produced by public committee.

Also good is is the work by Melamid and Komar, where they focus grouped the construction of a (subsequently awful) painting: http://www.diacenter.org/km/usa/usa.html

However, I think both the Iconfactory and Mozilla get the difference between designing in public and letting the public control the design. Every indication is that Anthony never interacted with the Mozilla community, or read any of the comments. Also on Brand New Alex writes:

Also, while we are always eager to get feedback, the feedback doesn't drive the design since that would quickly degrade into an environment of design by committee. So we maintain a boundary on design projects between transparency and collaboration. Instead of inviting more cooks into the kitchen, we are putting on a cooking show. The designer in charge can still rely on gut instincts. This way other people can benefit from the complete access, and we can benefit from getting a constant read on how people feel about the design work, and avoid accidentally pulling a tropicana.

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1 week ago

in Editorial Shake Up At <i>Entrepreneur</i> - mediabistro.com: FishbowlNY on mediabistro.com: FishBowlNY

Here are the facts that I saw with my own two eyes: Cosper's only contribution to Entrepreneur was painting the walls and buying lava lamps and a Wii. (I'm serious.) Former Deputy Editor Mike Werling walked out almost as soon as he started because of her crazy antics. Ryan Shea brags about his college drop out past as if it's some kind of badge of honor. The executives (Cosper is a VP) got fat bonuses while over half of the editorial staff got laid off. Cosper would go to the gym and work out during the day for hours at a time while her staff was in a frenzy due to last minute changes she wanted to make. And Ryan Shea is just such a huge douche. Anyone who has ever met him knows he just oozes douchyness.

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2 replies

Q Correction: Werling got let go. It was Mike Kessler who walked.

boomerang Hey, don't forget to bag on Dave Pomije, VP of Site Development--high school drop out! High school drop out who's managed to keep his job for as long as he has because the only thing he's excellent at doing is blaming others for all his pathetic failings. I mean, really, an unapologetic, shameless expert at it.

1 week ago

in Today’s Round of Idiocy on The Angry Drunk

For Avi - http://www.urbandictionary.com/define.php?term=...

For Angry Drunk - I wonder how many times someone can use "fat" as an insult and expect it to have any type of emotional response. I'm fat... It's not like someone saying "Hey you're fat!" is news to me, let alone emotional . I'm also curious if he has an ongoing Explicit Language Mad Libs booklet for which to pick out cool sounding rants as well. All in all keep up the good work :)

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1 week ago

in More Than Mary - Beautiful picture isn’t it… What would you give... on More Than Mary

Stream of consciousness writing isn't just free-form, unedited freewriting. If anything, it requires more careful structuring and editing than traditional forms so that it works.

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1 week ago

in Ever seen a black person on the Jetsons? - Keepaa.com Oh so very beta on keepaa

Your point about their point?

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1 week ago

in Video: MSTRKRFT & John Legend do "Heartbreaker" on Letterman on TheMusic.FM

What the fk is this, crap?

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1 week ago

in First Look! Sea of Shoes' Jane Aldridge's Shoe Collab for Urban Outfitters -Refinery29 Pipeline- on Refinery 29

i'd be curious to see if urban outfitters watered down jane's original designs to give them more mass appeal.

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1 reply

Kate Absolutely. Watered down and/or shot down. It's the same old story.

1 week ago

in Jake And Amir Dot Com - eBay on Jake and Amir

haha
"you were not wearing those a second ago"
i enjoyed this

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1 reply

HelenOfTroy My fav line of this episode :)

1 week ago

in 66 year old woman in England pregnant on The Inquisitr

Stupid bitch

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1 week ago

in mikropikol on mikropikol

Rires. Bon, sinon c'est Kimberley le nom de l'idiote, pas Kimberly.

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2 weeks ago

in FringeFamous on FringeFamous

Amy,
By no means was I trying to insult you or your company. I've seen several of your shows and I have friends in your current production. I think your company is awesome and you produce thought-provoking, challenging & compelling work. I have nothing but great respect for you and your company.
I was pointing out that the guy who runs this blog is on the board of directors for Walking Shadow (or at least, rumor has it) and that it was ironic that the show was being promoted on here.
Didn't mean to start a shit-storm. I'll leave it at that.

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1 reply

FringeFamous I think it was two comments ago that I said FringeFamous has absolutely nothing to do with Walking Shadow?...yeah...yup, two comments ago. There it is. I can see it from here.

So, "Anon", whoever you think FringeFamous is...you're wrong. But feel free to continue making an ass of yourself. It's kind of fun to watch.

2 weeks ago

in Large Scale Monthly Elliott Wave Chart of SP500 on Afraid to Trade Blog

This is a very interesting situation. It is always hard to guage sentiment, but I don't agree with the idea put forth by some that sentiment is very bullish now. I think the majority of retail investors have been too shell-shocked to take advantage of this rally. Yes, there has been a sentiment shift in recent weeks in that talk of a new bull market has emerged and is not being dismissed as complete lunacy and the retail investors have come out from hiding under the table. But overall sentiment on stock blogs, newsletters, and the "trading community" remains bearish as far as I can tell. The doom and gloomers of the net are still out there pushing the same message as before and they still have no shortage of followers.

This rally has been amazing. People have been trying to short it all the way up. All the fear and pessimism created the perfect "wall of worry" that bull markets love to climb. I am not making any predictions but it seems to me that this wall of worry is still in place and that there is a lot of money on the sidelines that under the right circumstances could start piling in and chasing this thing higher. Not saying that it will happen but I try to be open to all scenarios.

Think of all the worry that preceded the recent treasury auctions... everyone is still waiting for the next disaster that will crack the market open. I'm just saying be careful playing for that 5th wave. I suspect we will get a retest of the March lows at some point. But whether it starts from 950 or 1200 remains to be seen. As of now I am not entirely convinced that we will see it as soon as most think, but that could change at any time. But yes, I agree, when we do get the retest sentiment will be crushed and everyone will want nothing to do with stocks. If you believe that the market moves in whichever way will cause the most pain to the most people then that move likely will begin from higher levels than where we are now... continuing to punish bears and suck in new bulls all the way up until everyone truly starts to believe that all is well with the market again...

That is the advantage to day trading. You don't have to worry about any of that bull vs bear debate. :)

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