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The Day That BTFD Failed
We noted on Friday that something happened in the US stock market that day that has not been seen since the Fed unveiled QE4EVA. It went quietly under the radar of the mainstream media; talking-heads did not mention it; and strategists shrugged it off. What happened? BTFD Failed... and, as BofAML's Macneil Curry warns, popular trades are in trouble (bad news for equity bulls and treasury bears).
As a gentle reminder, the main investing thesis of the last few years has been BTFD (because buying the fucking dip has worked every time in the past, it will continue to work - therefore BFTD, BTFATH, and BTFWWIII)...
But - for the first time in 18 months... BTFD failed on Friday... (each dip was met with higher highs)...
Until Friday.. when the Nasdaq, having "dipped" to the 100DMA was "bought" back above the 50DMA but failed to make new highs and in fact made new lows...
So BTFD has failed.
As BofAML's Macneil Curry warns, Popular trades in trouble
Last week did not turn out like we thought it would. We came in aggressively bullish the S&P500, anticipating a resumption of its l/term uptrend for 1942, and we were equally bearish US Treasuries, recommending a short position in FVM4. Now both of those views appear to be in serious trouble.
The breakdown in tech stocks, with the NASDAQ Comp. closing below its 100d avg for the 1st time since Dec'1212, says that equities are likely to suffer more in the week ahead. This threatens the developing Treasury bear trend, particularly after Friday's Bullish Reversal Candles across much of the curve.
Chart of the week: NASDAQ Comp breaks key support
The NASDAQ Comp has closed below its 100d avg for the 1st time since Dec'12. THIS IS BAD NEWS.
Historically, the 1st close below the 100d avg in 6 months or more has resulted in significant underperformance, with the avg 1wk, 2wk, and 1m returns all falling into negative territory. Beware, the 3968, Feb-05 low is vulnerable.
As the clip above says.. easy, you buy the fucking dip because "if you don't you're a fucking idiot".. unless this time it's dfferent...
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Nobody can say they weren't warned this was coming. People have chosen to accept their conditioning and will have nobody to blame but themselves when the bubble pops.
www.TopTheNews.com
Where are the Silver Bears?!
They are buying the fucking dip you fucking idiot.
I'll be fu ked but momos are off 20 40% but the Fed only let the spy drop less than 2%...well played sir
Niggers, please. This is just the quiet before the storm.
I am Chumbawamba.
STFD!
im doing my taxes and just fully realized, emotionally speaking, that i have over 250k in carry forward short term losses. That hurts. I have puts going into tomorrow, btw.....
Dude. No worries.. That's money in the bank.
Me thinks there's a good chance of one more half percent pop left for this "market" and than a sudden collapse.
Until then, remain sufficiently stoned, drunk or otherwise unconscious of reality and stay tuned to this Civil Defense channel for further instructions.
That is all.
PS: And get the fuck out of the house and get laid too!
The 2 year long BTFD metric - 'Never Sell A Quiet Market After A Rise' - ended Thursday. We no longer have a quiet market after a rise.
Sell early and sell often...
"NOTABLE TWITTER INVESTOR AND VENTURE CAPITALIST GEORGE ZACHARY just went on Bloomberg West—not exactly home turf for market skepticism—and said he thinks we're in a TECH BUBBLE (but..but...BTFATH, no? The FedYellen "put" will save all "investors," no?), as AS EVIDENCED BY BALLOONING COMPANY VALUATIONS AND ACQUISITIONS."
#NoShitSherlock
http://www.bloomberg.com/video/wearable-watch-space-is-growing-quickly-z...
S&P going down is bullish for stawks... oh wait...
I hope it takes all of Wall Street down the tubes and their Washington lackies with them.
The problem is I don't think they will go down quietly.
The only way to stop them is to stop playing their game. Don't BTFD. Since they "own" the markets ... let them have them. They can't collect from themselves.
Screw'em
There are well lit EXITS signs in this Theater. I hope so, Ive not seen them but I hope they exist. Please tell me they are plentiful and wide and not few and locked. Please, no one yell FIRE till I have moved from my seat
Ack acks, r like pit bulls, U never know when they will decide to rip out ur throat
Racism, to include any religious affiliation, will not be tolerated in ANY FORM on this site, including the disparagment of people in the comments section.
To report any form of discrimination, please right click on the comment number, copy the link to the comment, and send the comment link to abuse [at] zerohedge.com.
Any user found to be discriminating against ANY race, religion, or affiliation, will be banned immediately, and have their comments removed from the system.
You have been warned.
Stasi, is that you?!
If you say that all white people are better and more superior. That's 'rayciiist."
If you say that most black communities in the DC US are violent cesspools. That’s observational.
If you say that the industries of faud and theft, finance, are dominated by Jew. That's common sense.
If you say that most Asians are better at math. That's who I'm sitting next to in Calculus III.
rac·ism ?r??siz?m noun noun: racism 1. the belief that all members of each race possess characteristics or abilities specific to that race, esp. so as to distinguish it as inferior or superior to another race or races.Many years ago the University hired me to sit in Math Classes. Yeah...It was great during test time.
I caught 30 CheATERS at Arizona State University in a School Year. (I was the best at my job.) Fifteen of those were expelled and one of those had his Student Visa revoked and was deported.
I hope that you do not have a case of the "wandering eyes" or Crib-Sheet-itis.
Heads up.
Oh...and yes...I have read "The Bell Curve" by Murray and Herrnstein
To the dishonest wonder whom awarded a Down Arrow. ..I HATE FUCKING CHEATERS AS IT IS WHAT HAS PLACED US IN THIS ECONOMIC CONUNDRUM.
Now you may be a dishonest prick. So I will have fun with any dishonest cheating prick...
Let's go hunting. I live at 12223B Woodside Ave., Lakeside, CA, USA.
So, you live at Tropical Fish Encounters ?
Or the Wild Bull Tavern - probably the latter
'cause you're full of bull ...
Tropical Fish Encounters was in a storefront beneath me. It went out of business in February. The fuckin' "Wild Bull Tavern", the former "Lakeside Round Up" is a Bar in the building just East from my location.
Let's go hunting.
I was trying to add a bit of levity to a serious post. I.e. I was joking.
I have never cheated. Not from moral concerns, but I wanted my grades to trully reflect what I had done/learned.
Now I did once try to cheat in "Organizational Behavior," I think that that was what it was called. I ended up not using the crib sheet because I had memorized the material while making the crib sheet. Nearly aced it and ruined the "curve" others were depending on. LOL
Anyways, an even better book is, The 10,000 Year Explosion: How Civilization Accelerated Human Evolution by Gregory Cochran. They deafly dance around what the Bell-curve fell into, which is calling a spade a spade, but it becomes clear that groups and races ARE different. Of course most of us would know this just on experience, but they have the science.
It all boils down to genetic diversity--those further away, genetically, from the small region in Africa that served as the "birth place of mankind" are more diverse genetically. They had more experiences and had to make more adaptations.
Anyways, a fascinating book and almost funny where they do just about all they can to avoid the "curse of the Bell-Curve."
Sidenote: The controversy over the Bell-Curve book still makes me chuckle. The propaganda media had a ratings boosting field day, while blacks were up in arms over the author's scientific claim. It was almost like the trial of Galileo again.
Good for you.
I hate cheaters and frauds.
Look at the Down Arrows. That gives you an idea of whom is on this board.
As for "The Bell Curve"...It was enlightening.
I will look into the other book as it also sounds fascinating.
@Money Squid:
Without regard to your chosen racial identity, sexual orientation, age, gender, physical disabilities or any other butt hurt excuse for special status - Fuck You.
@ meatloser.
Hi loser. Long before you came around the site was full of interesting reads, few comments. The few comments were questions about the articles or some good responses to them. Now there is a lot of loser comments like yours and chumby. Chumby is only famous for being the first one to use "bitchez", which had a long and funny run. You can see chumby is one of the originals, maybe he even posts as one of the tylers. ZH was gaining in popularity because of the great information, not stupid comments like yours. I do not want to see this site slide down to your level. It is losers like you that are the lowest common denominator. cursing at losers like you is beneath me as I only curse at those who can understand how stupid they are.
Except you sound like the 4th grade crybaby on the playground. TEACHER!! TEACHER!! TEACHER!!! HE CALLED ME A NAME!!! WAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA!!!
your hurtful, yet accurate description of my 4th grade year will result in many sleepless nights for me.
niggaz, please - the use of the term 'niggaz, please' has passed into the parlance of common euphemism. If you are unable to distinguish genuine racism from an otherwise innocuous euphemmism utilised in a CONTEXT that is unrelated to racial issues then you have no place calling out people for diminishing the intellectual calibre of debate here
if chumba had used it in reference to specific and actual afro american people then i myself would have reported it
entertaining but say something, this PC stuff wasn't around when I was informed I was bad just for being white at the age of 8.
now some real discourse please
Nigger, please. How is that discrimination?
I am Chumbawamba.
Completely unnecessary.
They'll blame the weather.
Until I see a cascade of Wall Street "movers", plummeting to the street below from open skyscraper windows, I remain unimpressed.
Of course ...... who needs an open window when you've got a black bag group taking "middle management" out anyway?
Could mass banker "suicides" be the cause of a fucking dip?
Exactly how many would it take?
Can we start a petition?
I don't know.
It's a bit like that Monty Python sketch with financial professionals jumping out the window.
"That was Perkins from Finance!"
"No it wasn't."
"That's Perkins."
"Oh yeah."
I think the suicides are because they are gonna be arrested.
http://divinecosmos.com/start-here/davids-blog/1145-us-military-fed
http://www.experienceproject.com/stories/Am-American/2186099
https://www.youtube.com/watch?v=h-AjWP2-UIk
I dunno... maybe not.
They (the MSM) will blame the HFT guys when shit hits the fan. The bandwagons have been circling all week. The right time is now.
60Minutes made the report 5 days before. The setup is in. All systems are go.
Are we that stupid? Is it really that simple? Please please don't crash the market this month and blame HFT. Please don't have Senate and House investigations into secret scalping of decimal pennies. Please Mr. president, please don't interupt my CNBC insiders report to tell us this is unacceptable in the 21st century. There is no way they will crash the market and claim that 'investors lost their faith in the markets'. There is no way he can stand up there and say,'the black swan has landed'. God no, not now.
/s
It's looking like it's about time to do the right thing, and not be looking back at this time in history 10 years from now saying, if only I had done the right thing then.
As evident in the high risk high reward "growth" stocks who mostly make a stain of profit on a bit of toilet paper. When they (momentum) stocks take a hit it is "locked and loaded". Know there are EXITS! and they are your first movers toward the door. It starts as a dull sound of movement, disturbing the Theater and it does not become evident till the movement disturbs your view.When it does you take notice and by that time the popcorn is dropped and you had better hope you can outrun the Fat fuck who is blocking the exit. I know, seen it so many times before.
If anything you should plan the shortest ( pun) distance that takes you to the exit less seen, therefore less crowded. Edit: you have time but not much, so avoid the crush as HFT have no soul and have no cognitve thought to temper the rush. They will outrun you and feed the fear
xtop23
Go ahead and "JUMP!"
https://www.youtube.com/watch?v=ap2J9RbXaP4
Mondays motto.
H..em em em ...should I just buy the fucking dip?
<- My name
<- not my name
Black monday tomorrow!
No, you should buy phyzz.
You must mean physical farmland.
Or just a physic.
Now there's a term you don't see much anymore, you mooks!
Physical farmland ? Better have very deep pockets.
Not too many farmers anxious to sell any.
I've got 200 acres payed off..... Not nearly enough. But have the stack in case I have to move on.
"I've got 200 acres payed off"
Not according to the local extortion rackets.
Paid off? Your property tax bill is NEVER PAID OFF!!
not this old argument against owning property
you ever had a property tax that is more than 10% the cost of paying rent?
didnt think so
Not arguing against owning property. Just reminding everyone that you don't own your property, you rent from .gov. In perpetuity, as long as you "own" said property.
That depends if you want to have land or money.
Yeah like paper UST? /s
After a long hibernation, the Silver Bears are out catching Silver Fish, you fucking idiot.
Agree. I don't know if they'll be able to get out of this one. Cute avatar btw.
And isn't it just about time for the sharks to head for the Hamptons?
Only 1 day down. Sheesh.
The link dont work,i had to type in the address.
lol I´ve been thinking about buying or not for a loong time, but I´ll never be able to know what is wrong or right in a time where everything is manipulated by governments, computers, media and bankers.
What Im worrying about is that IF the stockmarket crashes badly, there might be nothing left to buy.
Anyways, so i spent half my cash on stocks which is around half a year of earnings. If stockmarket tumbles around 30% I will buy the other half. If it continues down under 50% I will get my damn morgage and pump in another 4 annual earnings. If it continues down under 80% from current value I´ll boost the morgage and pump in another 4 annual earnings as long as the banks still offer that cash to me.
After that i can only hope there will be a recovery sooner or later. Well if there is not, who cares about those lost cash and morgage?
somehow this has to be bullish, I mean it's not really differrrent this time is it...
No, you Lost Leverage, it was proved.
One down day and a few bears think it's the beginning of the end... again. We have seen 5 years of this. A solid selloff followed by BTFD and new highs in a few days. Nothing to see here.
All the Fed's shennanigans are going to work until they don't. And I think that the bears are just being hopeful, because this shit's going to keep going until it unexpectedly breaks. I'm not good enough to time it.
"One down day and a few bears think it's the beginning of the end... again."
But it isn't just one down day on the Nasdaq.
it's funny but a banker i know who has made a shit ton of money being highly bullish since 2009 said this friday was the top of the market.
i asked him if he thought the market would crash, he said he had no clue.
there's only one way to make money he said: taking risk.
That is why there are so many dead bankers. Hoping for dead bankers is like hoping for $5000 gold. Sounds wonderful in theory.
You never "See" a suckerpunch coming but you hear it hiss just before you go down. Yes just watch the risky assets being pumped then dumped. When high risk, high reward stocks who make little to justify the orbital valuations get hammered, they ( THEY) are heading to the Exits before you. Ask yourself do you sell a company that makes solid profits year on year or do you first sell the Momentum stocks that have nothing but a good story behind them and lock it down. Not rocket science. Its a " Give me" in golf terms. You have time to make an orderly exit just like them. watch what they do. Never feed Peals to Pigs, it is expensive and the Pigs get annoyed when you do it. Such is Life!
Tesla below 80 by 2015?
Be goin down in flames
I thought that was up in flames, which only proves Wenchly is right,
I don't know up from down.
But I do know head from tail;)
Up in smoke,
down in flames, Kaiserhoff.
I thought that was up in flames, which only proves Wenchly is right,
I don't know up from down.
But I do know head from tail;)
"Last week did not turn out like we thought it would." Actually, it did but it did not turn out like you told your clients it would. BIG difference.
BTFDWTFDDGBDBTDWGBMONOK
Buy the fucking dip when the fucking dip didn't get bought, dip, because the dip will get bought, maybe or not, OK?
It could be a rare double-fucking dip opportunity opening up here.
That's like putting your whole mouth right in the dip.
did that once, but the new generation antibiotics took care of the ... er ... outcome
Just once!?
Sometimes once is enough.
You want some onion to go with that dip?
You can double dip....just don't toss the salad.....especially if there are black beans in it.
Yellen' Onion Rings around the posie. They were so rose'y. NASDAQs and BioTechs...they all fall down !
It'll make the long's cryyy,..
Can't wait to see the post fall-out spin jobs from management nut jobs.
MZZ, QID for 401K and IRA...should be good.
As they take their profits some will go to Bitcoin. Although, Most will flip from long to short.
That's a good thing.
YeeeeeeeeHaaaaaaaa.
I wonder how HFT works in reverse.
Is Greece going to default?
Thank you Putin.
No down. Market shut. that is it.
That's my read as well unless the stocks are somehow offloaded onto the Fed. There's no way they'll allow a 2008 repeat after this level of printing, since it would reveal every lie they've made.
You know, that sounds right, in theory. But I don't think that TPTB will let the economy fully recover, because that would allow interest rates to rise. The government literally cannot afford that. Japan, Europe, nor the US. There will be another collapse to allow rates to stay low or turn negative.
They're in a tough spot, but if the Fed is the only buyer of significance they can play a lot of games with rates as they have already done.
It is wickedly evil that we're entering a point where the Fed and government are actually incentivized to not allow a recovery, not that one is coming.
and so this is perhaps the point where the market decides to set the bond rates instead
Is there really no way to kick the can further down the road?
Can rolled into storm drain. Game over
Yep,
It may be 'the boiler room' bust out moment down at the fed.
Since no one wastes money of infrastructure anymore (too busy buyin the dip) the road went to unimproved road, to trail, to path, to ......?
Should make JHK happy anyway.
Kicking the can is not the problem.
At the end of the road, there's a cliff.
There is no cliff for TBTF&Jail, just for everyone else.
Then again, that has been the plan all along... you know, made by those stupid people who are laying seige to the planet of super smart people that know these people are stupid.
The strongest incentive for TBTF&Jail is to loot everyone raw in a way that a nation of cowards can pretend they aren't being robbed, THEN PULL THE PLUG TO BUY UP THE COUNTRY FOR PENNIES ON THE DOLLAR OR SIMPLY SEIZE ASSETS OF ALL TYPES... STATE, CORPORATE, PRIVATE, WHATEVER.
Yes, hyperinflation may happen, BUT NOT WHILE THE SHOT CALLERS ARE SITTING ON TRILLIONS IN CASH AND TRILLIONS MORE IN DEBT PAPER.
This is so darn obvious, EVEN A CAVE MAN OUGHT TO BE ABLE TO FIGURE THIS ONE OUT!
Just because Rockefeller funded empty suits pound the table on hyperinflation all the time doesn't mean it makes sense!
Don't you folks get it? Duping everyone into believing hyperinflation is imminent enables them to offload their assets at the best possible prices before they pull the plug on everyone else.
Rothschild pretended to sell after British beat the French in order to dupe everyone else into selling (he had the news and everyone else didn't). You know, because he was so stupid.
He actually bought for pennies on the dollar and all the idiots that went along with the Rothschild funded establishment line got their faces ripped off.
Happy ripping - because we learn nothing from history.
The system requires exponential growth, even if the underlying, real economy cannot grow.
The ruling elite cannot overcome physics and peak oil.
The real economy has been and is contracting - and will continue to do so. The financial system will eventually completely implode too.
Sitting on that cash actually prevents hyperinflation in some ways.
If they literally dropped it into the hands of normal people who'd go spend it, then hyperinflation would be imminent.
Currency collapse is inevitable, but inevitable does not mean imminent.
Wehn one's financial institution is TBTF&Jail, as Morgan, Sachs and the other chosen few are, why would their owners care so long as they can collapse their competition and then buy them with your bailout money for 3 cents on the dollar?
The game isn't controlling money, it is controlling REALITY and that is their gambit.
Yes, hyperinflation is inevitable, BUT THE BIGS WILL BE OUT OF MONEY AND INTO EVERYONE ELSES HARD ASSETS WHEN THEY ORCHESTRATE IT.
Run, men, the Serfs found arms somewhere--Arrrghh!
My God, Nigel, they've set fire to the yacht club!
Yes, but first they will have to build more road.
<-- "We have to kick this can to see what's in it."
<-- "If you like your can, you can kick your can."
<< FUCK THEM BOTH
<< FUCK THEM BOTH
Buy the fucking dipshit!
Yup, greater fools are back in style, so go long them!
This glitch in the matrix can be healed, Dear Janet, but it'll cost ya.
The can is now the size of a marble and has gone down the rabbit hole.
Cans are barbaric relics.
Modern Monetary Can Theory has done away with kicking and cans. Federal Can Reserve will issue can distance in support of the economic needs.
Paper cans distort the intrinsic value of real cans. It takes less energy to kick a paper can down the road. The compensating variable allows for a higher velocity thus more downrange BOUNCE.
These paper cans are all rehypothecated, and probably do not even exist. When the music stops, you will be canless.
Only buy physical cans that you can actually kick down the road.
I sense the return of the old "canned hams" idea ...
+10
Most cans are just digital bytes.
The ECB is going to give a trillion reasons to BTFD next month.
+1 for making the observation but -1000000 for the ECB QE'ing the way to further indebting the Europeans.
EUrope is toast and Putin knows it. He will take it all. Mommy Jeans will do nothing to stop him. Yes he is "JUST WORDS"
If we see Yellen, Lagarde, and Hillary spreading (it on thick) at the next ECB or IMF meeting we know it's near the end.
Bullish. Rally on Monday AM.
What changed since Friday?
Two days into the future...
It's astounding
Time is fleeting
Madness takes it's toll...
Ahh...But listen closely...Not for very much longer...
Let's do the Time Warp again !!
Remember way back 9 days ago when the NASDAQ slipped 2% over the course of a couple of days at the end of March? That prompted Yellen to calm everyone's fears with an assurance that support will remain in place.
I'd expect more frequent comments this week if the declines pick up any steam.
However, I agree with the author that at some point paying 350x 2015 Revenues might seem a little silly in retrospect.
or blame HFT
As BofAML's Macneil Curry warns, Popular trades in trouble
Last week did not turn out like we thought it would. We came in aggressively bullish the S&P500, anticipating a resumption of its l/term uptrend for 1942,
Maybe it didn't turn out like they thought it would but who wants to bet they still have a 100% perfect trading record for the quarter ?
BTDD (double dip)
It's AFT* that BTFD failed.
* - About F*cking Time
Too many holes in the dam and not enough fingers to plug them.
Nothing is as it seems.
My favorite exchange from the video:
.
woman: But is that not very similar to a pyramid scheme? ...
man: It's not a pyramid scheme you idiot. It's a buy the dip scheme.
So the Feds get everyone to buy stocks and then let it dump ? Don't think so.might have a small correction but that's it.By the end of the year there will be a big stimulus program/was and 100 billion+ a month will be printed.
And the petro dollar will be gone.
If all it takes is for a small sell off for people to start screaming the end is near, then I'm pretty sure that the end isn't near. The end will come like a thief in the night, and we won't know what hit us. We have a dying currency and the stock market will act accordingly.
Honest question,wouldn't the stock market jump because people would be looking for a place to put their money ? Are we Venezuela ?
Honest answer: What fucking "money" are you talking about!?
Well if the dollars come rushing back then where will they go ? I'll be honest,I've been sitting on 600k in cash for a while and starting to think seriously what to do with it but unfortunately it's in retirement accounts.
Help those you care about most. Money means nothing.
My husband and I have loads of relatives (and family friends) who feel that "money means nothing," and treat it accordingly, and so even though they earn decent salaries, they are utterly broke and even in debt. We are able to help them (and do), because we treat it like it means something.
Doesn't make sense. You believe in money. They don't believe in money. You give them something they don't believe in. You feel better. Oh I get it
The Fed will help you spend it.
Don't bogart that cash my friend, sign it over to me.
Get a rollover IRA or 401K (and roll that into a IRA) and put into Phys or PSLV or CEF at a broker like Schwab.
or...get a physical Gold IRA, just make sure you don't/can't touch it and have a valid trust or account to manage it by a third party.
Gold, Silver, gems, land..and good tangibles.
I think the idea of phys is you keep it in your own grubby little hands. If you want to speculate then CEF is good. {Your speculating that the brokerage and government will honor their promise}
Plan is to exit ASAP and even leave a 10% penalty on 401K (and IRA if possible), and move on out of Dodge.
Precious dream.
If the stock market collapse is very large I hope the shorts are all honored and can be converted to physical and then .... close all accounts.
If this is a big collapse there will be lots of sparks flying, and who knows what may come.
We are Germany and the EPA is the Angle of Death.
OT, I live in the SF East Bay Area. I was driving around today and noticed a lot more open home signs than in the past several years,I also saw a bunch of recently purchased cars,more than normal.
Every single f***ing car in Silicon Valley is new and costly. Except ours, and our neighbor's - he is an 58 y.o. astrophysicist and has the same view we do; you're supposed to drive an old beater until it falls apart, that's the rational thing!!!!! Most of these people can't really afford those cars; it's ridiculous. It is so bizarre, driving around in an economic recession (most of the country is in a depression but here I guess it's a recession), and every car on the road is new and costly!!! Except us, our neighbor, and the Hispanic gardeners who drive old pick-ups. Good thing there are all those license plate scanners (/sarc), otherwise the cops would probably stop us every day just for being freaks.
http://www.youtube.com/watch?v=sc92hIymc44
Same thing in Phoenix -- I'd say for far sale signs started spiking about 3-4 months ago. It's nearly to 2008 levels in my neighborhood. From what I've heard our market turned and is off its peak but not by a lot.
My co-op is under (cash) contract, and not a moment too soon. Even here in the metro NYC area I don't feel safe.
FROTHY!
Charts, how effing quaint. BTFD or die bitchez.
NOBODY, I SAY NOBODY WILL SHORT. Too many shorts got their head taken off with a necular melt up. So, now there is nobody to catch the falling knife as everyone is long.
HK and European futures already moving up , HK already up 60, Dow and S&P both positive
Not up over here:
http://www.investing.com/indices/us-30-futures-advanced-chart