As I’ve mentioned, I’ve ceased my habit of checking out the “weekend betting” site to see what the markets are doing, because it’s just useless, wrong, and a waste of time. I haven’t even peeked in weeks. I did look, however, at the actual market when the Globex opened, and after the gap down, all of the predictable, boring, and unfunny “it’ll be green by the open” comments tumbled in. I just had to say something.
I am typing this an hour before the open, so anything is possible, but it looks like we’re still beautifully in the red (even with the comic attempt by the Fed to prop things up the past five hours).
Thus, to all the green-is-open guys:
The “tell” was the darling head and shoulders pattern I pointed out in real time, and before it was even complete, last week. This has done a yeoman’s job of reversing Powell’s treasonous and horrific plans to push the S&P to 5,000 this year.
Looking at the much bigger picture, I am seeing a monstrously large “Ichthus” pattern (my own creation) in the small caps. It is a thing of great beauty.
As of this moment, I have 75 short positions and am 150% committed. I have 73 tickers in my Bear Pen, almost all of them absolutely ready to be shorted, were it not for the likes of those free-enterprise-destroying creeps in D.C. My feelings are summed up in this tweet I sent, which got quite a few plaudits. And that’s after I toned it way down.
