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Skynet vs. Gridbot
Too bad, Joe Sixpack's Hi-Fi trading software is no match for Goldman's Skynet system.
Probably another record profit day for the GS Prop Desk.
While the Forex gamers get torched, nothing seems to be dampening the spirits of the stock traders, who continually look for junk stocks to ramp.
Favorite mo-mo play was Maguire Properties, as a looming bankruptcy seems to bring out the animal spirits:
I continue to be amazed at how miscellaneous stocks can get Heatmapped up to parabolic heights. I heard Bob Pisani pimping Dollar Thrifty today:
Sixty cents to $22 in less than 6 months...
And Avis Budget was being touted as "being up 2600%" since the March lows:
I'm watching the semiconductors closely, to see if they can put in a classic "J-Lo" bottom, which would likely trigger some Chop Shop to utter a "conviction buy" tomorrow in the pre-market to get the starter pistol fired on the Nasdaq:
Also, don't forget those "IBD Cup and Handle" patterns on the oil service stocks, as various junker plays in the exploration space (MMR, SD, SGY, etc.) have been ramping up despite dollar strength and SPY weakness.
Seem like too many of these "technical experts" on CNBC are continuing to hedge, take profits, warn of a correction, etc.
Some clown actually said he "made his year" buying crappy stocks with poor fundamentals and is loaded up with index puts....
Everyone is nervously awaiting a selloff...
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Who is GritBot? a greed bot new AI courtesey of the Los Alamos lab?
GridBot from an earlier RT posting. It's some kind of forex software
http://www.forexgridbot.com/
set it and forget it!
"....and watch the money roll in.." Hallelujah!!
Just some of the ridiculous movers today:
The more a stock is related to home loans, student loans, etc. the more it is ramped.
Chart Image Code
RTK
naughty, someone must have confused a hormone treatment with the LCD pill... "dude, I can see J-Lo from my station!!!"
algorithm/AI "awsomo" indicated fundamentals are good, i am totally LONG...
Robot, you're great. Keep up the good work.
I'm not sure if this company is publicly traded, but if it is, look for it to get heat mapped:
http://www.austriantimes.at/news/Around_the_World/2009-07-30/15143/Disso...
the J-Lo bottom.
you have outdone yourself sir. i cannot stop laughing! i'll be looking for that one every time i look at charts.
thank you for your efforts....truly a highlight of my market day.
too bad he's ripping off Adam Warner's idea. how about an original thought?
Speaking of "J-LO bottom," don't forget our favorite Puerto Rican beauty, DRL. Was wondering why it wasn't up 200% last Friday after "earnings." Boy, wish I hadn't overlooked her for some easier action.
Robot, you make my day - love your sexually charged market commentary.
REITs ran out of gas today though.
I gotta think that GS has a room of kids with different software figuring out how to trigger a specific software play. Then set em up and take em down. I expect there is a few thousand Japanese housewives running the same Forex program with limited inputs. Maybe I am reaching, but it would explain some the lack of fundementals as stocks lurch back and forth.
Think there wasn't some funny business going on with AGNC stock today? (again)
Look at the daily move (compared to other amREITs), and then the volume explosion in the last minutes of trading:
http://finance.yahoo.com/echarts?s=AGNC#chart5:symbol=agnc;range=1d;compare=nly+hts+mfa+cmo+anh;indicator=split+volume;charttype=line;crosshair=on;ohlcvalues=1;logscale=on;source=undefined
Shockingly, after the bell: AGNC Commences Public Offering of Common Stock
http://finance.yahoo.com/news/AGNC-Commences-Public-prnews-2801847316.html?x=0&.v=1
That thing needle topped today:
Down a buck after hours after announcing the secondary.
Brilliant!!
Don't forget the cup and handle setup here. OIH was barely down today during the market selloff:
Hedge Fund Crash
Remember, its Bill O'Neil's favorite setup.
I call it the Investor's Business Daily "Pots and Pans" play.
Speaking of tops, might want to watch King KONG. Barring a market breakdown it should gap up to a new high after beating&raising - but after that it's due for another pullback to the 20 (nevermind if the China bubble pops, or they suddenly rollout mass IPhones). For tomorrow - given favorable markets - it could be a gapper&runner as it has the nice buzzwords.
I think virtually every other company news item tonight was issuance (stock or bond). Just stunning.
I wonder if this is not another set up like July -head and shoulders- for a ramp to new highs as people are waiting for a fall, and it doesn't come.
There are enough economically bad circumstances....but....these are not always tradeable. Rosie and others are right, but.....
Stay loose.
Trading Charts
Education stocks are great. Everyones dying to spend money to be taught how to better serve something that won't serve them. Give the crazy one more week.
Damn, the best photo illustrations on the web, man! Just enough for a burst of much-need endorphins . . .
RobotTrader how about some daily charts with 5 minute intervals?
That J-lo does have a great A$$
BZH: .24 TO 4.75...DUH
Should we believe that the J-Lo bottom is to be followed by the Ben Affleck "pump and dump" trading strategy?