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« The Bears Are Looking Excited - About 1939! | Main | The 1937 Analogy is at the Top »

Friday, October 01, 2010

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Mamma Boom Boom

>That aside, good chance we get a decent rally, tomorrow, good enough to establish stability at higher levels. Then we take off next week.

Posted by: Mamma Boom Boom | Thursday, September 30, 2010 at 01:58 PM<

---------UH huh.....Uh huh---------

Gonna make a move that knocks you over
Watch this turn one's gonna put you away
But I'm doing my very best dancing
Every time you're looking the other way
I could move out to the left for a while
I could slide to the right for a while
I could get up and back
Right on track
But is right on track
Is that gonna get you back

----Breakfast Club----

JT

Two Year HIGH in COPPER!

So much for all of the P3 Deflationist "Kool-Aid" drinkers . . .

fu

Yahoo message boards are here again. Sorry yelnick.

Anil

Interesting - while Gold is making new highs in $ terms, it is flat in INR terms.

Mamma Boom Boom

Looking over charts, it's difficult to find any 'speed bumps' other that minor ones. If I had a heart I would have pity on the bears. But, I don't.

DG

Mamma,

You have been calling for some major ramp since early June, I think, and basically nothing's come of it. You're the bullish flip-side of Roger D at this point.

Even if it happens this time, and I do think that's what will happen, relative to your initial call, it's still just "broken clock being right twice a day".

Mamma Boom Boom

DG, I don't follow your logic, up is still up. I have no control of the percentage amount.

Just like in the summer of 09 I turned bearish. That ended in the flash crash. All total, it wasn't that big a drop, measured by the indexes. But, if you have a portfolio to manage, it was important info, because many stocks tumble a long way.

Just as in this run up, many stocks have gone up a long way, some by 50%. Of course, some have been flat, that's the market. Still, the pressure has been to the upside, and it's not over yet.

So, to say >it's still just "broken clock being right twice a day"<, I don't get it. Are you having a bad day?

DG

Mamma,

Point being the the more accurate call over the past few months wasn't "up" it was "trading range". You completely missed that.

I guess today I just finally got tired of seeing your posts about your forecasting prowess. 4 months isn't bad, but it's not as if you called the bottom tick to the day or something. Yeah, sure, if you're the Harvard University endowment waiting 4 months for a trade to start paying off is fine, but for an individual trader that seems a bit excessive and not exactly "Hey look at me!" levels of skill.

Jim

"Hey look at me!" levels of skill.

Yes, Mamma Bong-Hit sure loves to draw attention to herself. That's what "paper-traders" usually do and the blogosphere provides a wonderful medium to allow for such fantasy.

EN

Consolidation until mid-Oct. Should bounce around between 1130-1150 with a scary intraday spike to the 200ma just before another rally to 1220 or higher.

Mamma Boom Boom

DG,

Obviously we disagree, on what's important. But I don't think day-trading indexes is a prudent way to manage a portfolio. The market is a market of stocks.

Also, if you think I'm bragging then I apologize for my actions. But it seems to me that everyone around here jumps around like a squirrel, never actually setting their sites on what's going on in the market. I make predictions as honestly as I can, and when they work out I point it out, and when they don't I point it out. It's just that usually I'm right.

Besides, I thought you and Neely were now long. I guess I still don't know what rubbed you the wrong way. But you know, I don't care.

Neo-Mamma

Account Deleted

Dow Jones Futures before opening bell

Chuang Tzu

Looking for the SPX to top out October 5-6 around 1170, then correction down to 1089 into October 27 +/-

Chuang Tzu

Market pro's trying some scare tactics this morning with some shake and bake, not giving up on the long side quite yet, I think the move up is going to fast and short.

Chuang Tzu

5 min SPX now has a bullish divergence in the 11 period CCI

May not make 1170, but 1160's here we come.

Chabazite

HFT and Flash Crashes - Are there any articles written about how (and if) high frequency trading affects prices generally. Don't know whether anyone saw the Karl Deninger vid of automatic trades that had the specific aim of keeping certain prices higher. These made an appearance for a very short period of time but were never fulfilled - illegal of course and he raised complaints.

I have no evidence, just a gut feeling that over the past six months or so the market has been driven slowly higher not on the back of longer-term speculation based around fundamentals, but largely on the back of sustained regular low-volume short-term trades which have pushed them to a point of significant decoupling from the underlying economy. You can be as bearish as you like but markets generally like to go up. So, here is my concern ...

- if everything is considered to be OK, prices are programmed to go up.
- if prices go up, everything is considered to be OK.

Chab's great self-fulfilling prophesy algorithm. My concern is you get these huge long 'feedback loop' rallies like Feb / Mar / April and like the one possibly unfolding now which simply don't make sense. And they continue not making sense until someone somewhere sneezes and triggers a crash. What has this to do with investing, or even trading you may well ask? Well with 66% of all 'trades' now hft trades one can't help but ask what is driving the markets. Maybe POMO in part but I don't think that is the full answer. And its certainly not economic fundamentals. In any respect, no one seems to like this market.

PS! Too bad about the golf guys. Hate to say this but Europe Won. And as I hate to say, it I will shout it. EUROPE WON!!

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