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One of the most disturbing scenes in the series Breaking Bad was when
Todd shoots and kills a boy on a dirt bike after he witnessed
Heisenberg, Jesse and Todd heist 900 gallons of methylamine. Jesse: “Todd, that Opie Dead Eyed piece of shit…”
That is similar to the feeling I got after the Fed hiked the funds
rate as expected, but then declined to offer the stock market much
relief for its ongoing temper tantrum.
Hey, Slopers – – sorry to be AWOL on you, but I’m dealing with some mombo computer troubles. This is where nearly 40 years of experience comes in handy, because this one is a doozy (nothing to do with Slope; just my own machines). Anyway, I’m missing out on trading, but at least there’s absolutely nothing going on in the markets (cough cough cough).
I’m light as a feather (relatively speaking) as the year winds up, and my efforts are focused on a technical issue with my laptops and monitors. While I’m screwing around with this perplexing and vexing issue, here are a couple of miners I shorted:
After repeated tests where it held, the thrust down after the Fed hike on Wednesday broke down through the big support level and potential H&S neckline in the 2530-40 SPX area and continued down. Wednesday night I was looking at the next big level on ES 2465-80 area and that too has broken yesterday. I’d be surprised not to see a strong counter-trend rally on SPX soon but it’s getting harder to identify where the next decent support might be.