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Moments ago, this dropped into my email’s inbox with the subject line of FEDERAL RESERVE FUNDS. Looks like it’s my lucky day. I’ve highlighted some particular important bits. Suffice it to say, there’s no need for me to be hanging around Slope, scraping up pennies with ad dollars any more:
FEDERAL RESERVE BANK OF NEW YORK
(SERVING THE SECOND DISTRICT AND THE NATION)
33 LIBERTY STREET NEW YORK, NY 10045. USA
WEBSITE: WWW.NY.FRB.ORG//OUR REF: FRB/NY/TDT/US/XX15
NOTIFICATION OF CREDIT FROM BANK FEDERAL RESERVE BOARD NEW YORK.
This is to officially notify you that, after series of meetings held on over the months with the Secretary General of the United Nations in United State of America, which has came to a halt that it is obvious that you still haven’t received your fund valued at US$11,000,000.00 (Eleven Million United States Dollars) as a compensation funds awarded to you.
AAPL (Apple Inc) has now fallen to horizontal support where a reaction (i.e.- bounce and/or consolidation) is certainly possible although I have no interest in trying to play a bounce in the stock. In fact, I am short the QQQ’s (in which AAPL is by far the largest component) and with both the intermediate & short-term trends currently bearish, my preference at this time is to sell the rips, not buy the dips.
I was thumbing through one of my more obscure watch lists last night while holed up on a rainy Manhattan evening, and I noticed some of the ideas I’ve offered up in months past have really been taking nice tumbles. Such as….Allot Communications (ALLT) which I predicted would go down…….ummm……..”a lot”. Heh.
Well this is all looking familiar. Yesterday closed down hard after a day of relentless selling with a close just under the 200 DMA, and SPX is looking set up to gap up big overnight. Is it Groundhog Day? No, I don’t think so, though the similarity is certainly very striking. At the end of the day though yesterday was just a very odd looking inside day, with no break either of Wednesday’s high or low, SPX daily chart: