Why I never want to be rich.

(Donatella Versace) Can someone please explain to me why these at one time attractive women choose to mutilate themselves. Doesn't it seem that once you have all the money you will ever need you no longer focus on making it and start to focus on other creepy things. Its a good thing I'm still poor and don't have time to see how old and ugly I'm getting. No chance of me becoming an alien extra in the next Star Trek movie.

A quiet consolidation day today, our pick didn't fill and no setups for tomorrow so see ya.

Lets play doctor

ZURICH/PARIS (Reuters) – Film director Roman Polanski, arrested in Switzerland over a U.S. charge of having sex with a 13-year-old girl in 1977, will fight extradition to the United States, his lawyer said on Monday.

It was the 70s after all and the chick is over forty now how much could her therapy possibly have cost ? Hell hath no fury like a woman scorned.

Lovely 18+ point rally on the S&P for no good reason what so ever today. The EW guys are going to need a new Cray computer to keep recalculating those waves over and over every day. The good news is this nonsense has produced tons of good setups for tomorrow. My pick is QID long @ 23.44 Good Luck.

Supersize Me!

(Daily Mail) Dwarfing the infant next to him, his mouth open in an angry roar, this is the heaviest newborn ever recorded in Indonesia.

An Indonesian woman named only as Ani gave birth to the 19.2lb baby boy in Medan, North Sumatra yesterday.

Read more: http://www.dailymail.co.uk/news/worldnews/article-1215762/This-make-eyes-water-Indonesian-woman-gives-birth-19-2lb-baby-boy.html#ixzz0S3Rv1XQi

You wouldn't catch me within a continent of that diaper!

Today was a nice follow through day down. What was the excuse? Oh yeah good unemployment news (a lower half million a week number), and bad housing numbers (ya think maybe the first number is related to the results of the second). We settled right at support 1050ish on the S&P. I wont get excited unless we punch through 1000.

Still no good setups for tomorrow sorry.

Levitation

Has Ben lost his silver tongue? Is this the top? Sell the news? The dive at the end of the day caught a lot of weak hands buy surprise but one day does not make a correction.

No good setups yet so watch and learn grasshopper!

Stumbling Bear

The market continued to putter along mostly sideways today. More and more talking heads are giggling like little girls about the "Rally" and seeing DOW 10K again. That immediately makes my bullshit detector go off and my crash helmet, elbow pads, and shin guards go on.

Nothing looks good for tomorrow so we get a day off to watch. Good Luck.

Cha Ching!

A nice slide back into our buy point and a quick lunch time pop for a profit on DRYS. I'm outta here!

In a hurry!

Its just been nuts today so no time to write anything clever just tomorrows pick. And the winner is DRYS long @ 7.08. Good Luck.

The Big Lie!

Every time I meet what I think are educated intelligent humans and we start chatting about the economy i find a large portion of them believe the following;

1) Our government wouldn't lie to them.
2) It must be getting better because all the "experts" say so.

Even though I can bring them a phone book worth of facts that disprove the above two points, or all they have to do is look around, they will still disagree with me. Being the analytical geek that I am I figured there must be some reason that people behave this way so I embarked on a mini research project that involved the science of psychology (head shrinking) and I found this little tidbit from a fellow that was phenomenally successful a perpetrating a very big lie.

In Mein Kampf, Hitler explained the believability of the Big Lie as compared to the small lie: "In the simplicity of their minds, people more readily fall victims to the big lie than the small lie, since they themselves often tell small lies in little matters but would be ashamed to resort to large-scale falsehoods. It would never come into their heads to fabricate colossal untruths, and they would not believe that others could have such impudence. Even though the facts which prove this to be so may be brought clearly to their minds, they will still doubt and continue to think that there may be some other explanation."

So there it is from the horses mouth or in the words of one of my favorite actors Jack Nicholson "You cant handle the truth!".

Not much happened today on quadruple witching day and we ended about where we started. Out pick did not fill so Mondays pick will be GG long @ 42.11 Good Luck.

Rubba Dub Dub Rusty Boats in the Tub

If everything is so great out there why are all these EMPTY boats in Singapore rusting idle in the bay. The same holds true for China, Britain, Belgium, Dubai, and the Gulf of Mexico. As my 93 year Polish grandmother used to say "ta riba schmerji", roughly translated "something smells fishy here"! They are waiting for us to restart buying all the crap we dont need again of course. But everyone I know is broke hmmmmm. Read the article here at Zerohedge http://www.zerohedge.com/article/thousands-rusting-ship-hulls-are-fitting-tribute-speculative-market-bubble

Interesting day, could be the turn finally or not I don't know. Looks like it will end with a nice doji candle forming signifying indecision. Tomorrows pick is UDN long @ 28.18 Good Luck.

Oxymoron

A word that perfectly describes a "Jobless Recovery".

Kinda like Military Intelligence, Sexless Marriage, Zero Calorie Soft Drink, Humane War, and Educational Television. They leave me with the thought of why bother?

If what our leaders are doing is going to fix everything except there will be no jobs shouldn't we be raising our hands and saying excuse me I gotta eat!

Today I am on pure oxygen because we have launched into outer space and it doesn't look like we will be landing any time soon. I hope you packed a lunch. Looks like I bailed way to early on SLV but better safe than sorry. No new setups so adios!

The Viagra Market!

Someone call a doctor this 7 month woody has got to hurt! Another up day just boggles the mind. Of course its because of all the great news out there. Ben says its over, retail sales are up because of cash for clunkers, birds are singing, and life is good - not! Looks like few hundred thousand folks woke up last Sunday and marched on Washington to let the prez (conveniently in Minnesota) and our reps what a crap job they think they are doing. Keep it up folks there are 545 of them and a buttload of us!

No new picks for tomorrow so I'm just going to go home and put ice on this thing. Good Luck.

Cha Ching!

Yep we are in and out of SLV for a small profit. I am growing cautious of this run in the precious metals and they now feel toppy to me so I am going to hit and run. I never met a profit I didn't like!

Squeezin the crap out of the shorts again!

Yikes thats gotta hurt. The turn was amazing at around 2PM. Nothin nothin nothin then a rocket ride up on no news. This is truly getting comical and a very good time to sit on the sidelines because it is getting really weird out there. Most of the good market techs I know think someone slipped acid in their coffee.

Anyway if you are truly adventurous tomorrows pick is SLV long @ 16.41 Good Luck.

Its Miller Time!

BAYOU GEORGE, Fla. – Authorities in the Florida Panhandle say they arrested a convenience store shoplifter who demanded to drink the 12-ounce beer he had stolen before being taken into custody.

The Bay County Sheriff's office says the man told the deputy he had recently lost his job of 13 years and wanted to drink beer. The man became combative when the deputy wouldn't let him finish it.

I can totally relate to this guy!

Same O Same O again, low volume upward creep. Just wondering when the wheels will come flying off this wagon. Our pick gapped up at the open making the trade invalid which was good because it then crapped out the rest of the day. We got a spinning top/doji for the close of the S&P today so maybe Monday will bring us a reversal/or not! No picks for Monday so sleep in and see what happens at the open.

Missed This Setup!

I guess I had a oldtimers attack and missed this for tomorrow. Go long GG @ 41.08 Good Luck.

My new home!

WASHINGTON (Reuters) – The U.S. poverty rate hit its highest level in 11 years in 2008 as the worst recession since the Great Depression threw millions of Americans out of work, a government report showed on Thursday.

The Census Bureau said the poverty rate rose to 13.2 percent in 2008, the highest level since 1997, from 12.5 percent in 2007. About 39.8 million Americans were living in poverty, up from 37.3 million in 2007.

Do you ever feel like you are living in a parallel dimension from the outside world? I bumped into my warehouse landlord on Sunday because he was weeding the front of my business. This is the same guy that a year ago was driving a Escalade and offering me drinks in his man palace next door. He is now driving a beat up pickup and rents the man palace out for parties. He has had no new construction jobs since last November and cannot afford to hire anyone to weed for him!

And the market goes up and up and up. Even normal people who don't pay attention are telling me this is weird. All I know is when this baby snaps its going to be heard around the world and it is going to hurt like a bitch. So prepare now! No setups sorry. Good luck.

Breakout or Breakdown

Now that is the million/billion dollar question. We are bumping up against previous resistance so lets see if this rally has legs. No picks for today. Just like they used to say on Hill Street Blues "Be careful out there". Good luck.

Surefire way to raise property values!

Bury Mike in the back yard.

(TMZ) Michael Jackson's body is already causing a market shift in the cemetery world -- the price of graves near his tomb are already sky-rocketing.

Read more: http://www.tmz.com/#ixzz0QXxGmkPh

Up up and away again (this is getting so boring) on nothin. I'm watching the close and the gradual lean on the buy switch. Tomorrows pick is long TZA @ 14.79 Good Luck.

LAbor Day

How appropriate that I sit here working on labor day. Once you become an entrepreneur you can pretty much kiss time off goodbye. I ain't complaining though I don't miss the corporate life for one second. No more endless meetings about nothing for me ever again. And now with the economy in the pickle its in I am quite pleased to be in the driver seat and not a passenger along for this wild ride.

Well last Friday did the usual levitation act on mixed news. I guess the market is now driven by hope. Me I'm still driven by greed so here is tomorrow's pick. Go long SRS @ 13.05 Good Luck.

Common man gets cheap!

CHICAGO (Reuters) – Lower-priced U.S. retailers posted better-than-expected sales results in August as consumers looked to save money in the key back-to-school season, leaving luxury chains struggling.

In my own local survey I have noticed that the Mexicans are driving the big SUVs all the rich guys dumped last summer.

We had a flatline day all the way till the last fifteen minutes when it shot up (Timmy leaning on the buy button) to close around the S&P 1003ish mark.

We did not fill today so tomorrows pick is TZA long @ 16.31 Good Luck.

"Tiz but a scratch!"

(Fox News) TAMPA, Fla. — A Florida man born without arms says a Tampa bank would not let him cash a check because he couldn't provide a thumbprint.



I guess Monty Pythons Black Knight would have had even a worst time at this dudes bank. Is it just me or has the world lost its mind. The poor man was born with no arms for Christs Sake! Whatever happened to common sense and decency sheesh!

Anyway today the market just opened flat and stayed there while the media spewed doom and gloom on every channel I was listening to. If I had stayed in my GG pick from yesterday I could have made 3 more points good grief! Is this an indication that sh*t is about to hit the fan? Tomorrows pick is long REW @ 32.87 Good Luck.

Party is over for now!

NEW YORK (Reuters) – U.S. stocks fell on Tuesday as uncertainty over financial companies' health prompted a sell-off, while concerns mounted about the validity of a rally that has driven stocks up nearly 50 percent from March.

I love the way these guys in the media turn on a dime. Wasn't it just yesterday when they were all singing about the start of the next bull market, don't miss the bus be sure to get in green shoots sprouting everywhere, etc. Just remember this, they are all the same people that completely and totally missed the meltdown. Follow them at your own risk.

Today we saw a healthy pullback in the face of quite a bit of good news. Looks like the big boys are back from vacation and they want to lock in some profits. We will see if the slide continues tomorrow. No new setups so we will just watch from the sidelines as things develop. Good Luck!

Cha Ching

Nice pop at the open and we are out of GG @36.82 for a profit! See you at the close.