I'm still settling into my new apartment and while moving things around I found an old stack of 1980's Hustler magazines. The stack toppled over and hidden in between were Ziploc bags full of some sort of dried herbs/spices and a couple of ninja-stars. I was admiring the reading material and shurikens when the Colonel walked in and went crazy on me.
"Those are deadly weapons, Cuz! You could kill yourself, don't ever go through my shit again!" he said.
I was like, "slow down dude, I'm cool with the ninja-stars." I pulled out some shurikens from my waistband, and I could see my "rep" had gone up a notch in his eyes.
He then told me that he was a blackbelt in Sudoku fighting and would teach me if I had something to offer him. I told him I like looking at stock charts and could teach him a bit of Technical Analysis. The Colonel said that the Internet was for losers and nerds, and refused to look at my charts online unless I printed them out on paper. So now I'm trying to think of some other skill I have that the Colonel might be interested in so he can teach me Sudoku.
Anyway; here is a chart of the SPX I was trying to impress him with. Wednesday looked like a great day to short the SPX, and that is exactly what I did with some SDS. This chart is very similar to the RUT chart I posted the other day. Short the top, place stops somewhere above the old top and wait to see what happens. Good old TA, you couldn't ask for a better risk/reward setup. (After such a beating I've taken as a bear the past year, my feeling is that we will go up more from here. I have to leave emotion out though and trust the chart, it's still a good risk/reward setup.)
