Happy Thanksgiving!

“Whereas it is the duty of all Nations to acknowledge the providence of Almighty God, to obey his will, to be grateful for his benefits, and humbly to implore his protection and favor—and whereas both Houses of Congress have by their joint Committee requested me “to recommend to the People of the United States a day of public thanksgiving and prayer to be observed by acknowledging with grateful hearts the many signal favors of Almighty God especially by affording them an opportunity peaceably to establish a form of government for their safety and happiness.”

“Now therefore I do recommend and assign Thursday the 26th day of November next to be devoted by the People of these States to the service of that great and glorious Being, who is the beneficent Author of all the good that was, that is, or that will be—That we may then all unite in rendering unto him our sincere and humble thanks—for his kind care and protection of the People of this Country previous to their becoming a Nation—for the signal and manifold mercies, and the favorable interpositions of his Providence which we experienced in the course and conclusion of the late war—for the great degree of tranquillity, union, and plenty, which we have since enjoyed—for the peaceable and rational manner, in which we have been enabled to establish constitutions of government for our safety and happiness, and particularly the national One now lately instituted—for the civil and religious liberty with which we are blessed; and the means we have of acquiring and diffusing useful knowledge; and in general for all the great and various favors which he hath been pleased to confer upon us.”

“and also that we may then unite in most humbly offering our prayers and supplications to the great Lord and Ruler of Nations and beseech him to pardon our national and other transgressions—to enable us all, whether in public or private stations, to perform our several and relative duties properly and punctually—to render our national government a blessing to all the people, by constantly being a Government of wise, just, and constitutional laws, discreetly and faithfully executed and obeyed—to protect and guide all Sovereigns and Nations (especially such as have shewn kindness unto us) and to bless them with good government, peace, and concord—To promote the knowledge and practice of true religion and virtue, and the encrease of science among them and us—and generally to grant unto all Mankind such a degree of temporal prosperity as he alone knows to be best.”

Given under my hand at the City of New-York the third day of October in the year of our Lord 1789.

George Washington

 

BTFD! YOU F*KN IDIOT!

 

There is an entire generation of traders and millineal hedge fund managers whom have never seen a bear market. Much less a real interest rate environment. The FED has been broadcasting all year that they are unwinding their balance sheet, and would increase the runoff to 85 billion per month. Look at the October candle here. Any questions? Those who cannot recall the past – or even recognize the past in the first place…will be this years fresh road kill:

  • LTCM Fiasco 1997
  • DOT CON Bubble 2000-2002
  • Goldman Sachs Commodity Bubble 2005
  • Great Financial Mortgage Scam Bubble 2007-2009
  • Central Banks Funny Money Bubble…Stay Tuned

 

 

For those of you who don’t understand candle stick analysis maybe this hilarious cartoon can simplify the current situation for you.

 

Please Like Me On Facebook?

This is really quite disturbing…I spent all day at the office (work) editing eBay listings for WORK on their computers (work) on THEIR network (work). Three hours later at home, on my OWN computer (personal) and a completely different ISP (home) – my Facebook wall is feeding me ads for the same products I was editing on eBay at WORK. Hello Zuckerberg! …????WTF???

Seriously! What the hell is going on with this CRAP? And, NO… I was not using Facebook at WORK! WTF??????
God damn scary bro!
KingCAMBO

Would You Like Some More McChips With That Order?

  1. If INTC closes ABOVE 55.75 in the coming few days – this is an 18 year high. September 2000 – heights of the dot com fiasco. 18 year highs… WHY?  Back in the fall of 2000 INTC peaked @ 75.26 and change – has been below 55 (split adjusted) ever since.
  2. Note the angle of attack on each important SMA – onward and upward
  3. Money Stream – we are a go at throttle up
  4. WTF??? – The bull market is not quite dead yet Sir?
  5. Damn Bullwinkle. Stupid Moose…

KingCAMBO-

“You cannot recover three things in this life: the word after it is said, the moment after it’s missed and the time after it’s gone…”

 

Hey Bob Pisani! WTF Are We Doing With This SPY?

This is the way this is going to play out:

  1. The final line in the sand at present is 274.39 – has held for all of April and May. SPY keeps banging its head on it.
  2. If we get a close above that – clear sailing to 280.61 – the March 13th highs
  3. If that levy breaks – absolutely no resistance until we test the all time historical highs @ 286.90 -AND- if this level gives way? The S&P will never go down again. And we will get free money forever and ever and ever again. Buy and hold and sleep tight
  4. 270.62 is the 100 SMA current support which has held for pretty much all of May. Below there is a nest of support @ the 268’s levels
  5. Balance of Power (BOP) has been all white – therefore “retail”. This is showing us the entire rally in May is HFT bots and day traders. There is no institutional money flow coming IN to this move.
  6. Money Stream is horizontal and this confirms what I just pointed out about BOP. There is no “BIG” money behind this. Only scalpers and pikers.
  7. TSV is flaccid and in all matters is now a non signal
  8. Real volume is down to 62 M +/- on a 10 day average.  In February 10 day was @ 195+ M – What does this tell you?

The most expensive prices you will ever pay on SPY is the first 8th and the last 8th. But wait, we don’t trade in 8th s anymore. So then the  0.125. I will leave you all to ponder that point.

 

KingCAMBO-

“You cannot recover three things in this life: the word after it is said, the moment after it’s missed and the time after it’s gone…”

 

 

Bullwinkle Is Dead…Stupid Moose!

For those of you BTFD’ers who came rushing in sans February 9th…I think you will learn soon that yesterdays pigs are about to become tomorrows bacon. To add a little color and context here – consider the following:

  • January 26th 2018 All Time Highs (yet again) – SPOOS: 2872.87
  • February 9th 2018 VIX Volcano Panic Lows – SPOOS: 2532.69
  • The leg of this viscous and short lived panic was 340.18 SPOOS points – the most dramatic leg since February 2016. Nearly an 11% +/- haircut.
  • The fact of the matter is we only recovered 221.83 of those points or roughly < 66% of the range. Only to hit checkmate.

Now then, Lets Go To The Video Tape!

  1. Four consecutive trading sessions – every time the S&P has crossed the 50 MA – it has been sold down. This is somewhat remarkable when you consider the high to low ranges have exceeded 30 to 35 SPOOS points in each session. And it has been the same pass the peanut shuffle daily – highs made shortly after the cash open – lows made at or very near the cash close. This is textbook bear market behavior.
  2. Note Money Stream – It did a complete U-Turn back on February 26th – even though prices looked to be moving higher. Luring the unsuspecting in to the illusion that we could get back to January 26th highs. Good luck wit dat! Money Stream is further confirmation that The Five White Guys Who Run Wall Street are selling that 50 MA every time we even kiss it.
  3. For now it is the 100 MA that has caught support – emphasis on “for now”. Should this level fail, and it shall – we would not see meaningful diatonic support until the 2597 levels, and the 200 MA near February 9th lows.
  4. Short term VIX which is a 9 day forward gauge as opposed to notional VIX – is well off the vix-plosion highs and now back in the mid 19’s. That may feel low but it is 90% higher than where it spent the better part of 2017.

Long story SHORT traders? The Fed is dead, and they have taken the Plunge Protection Team with them. No more free money, no more NIRP. Trump nailed this coffin shut when he fired Yellen. Expect a retest of the February lows sooner rather than later. And you can forget about the January 26th highs for at least the next 2 1/2 years. Shiver me timbers!

I am KingCAMBO…smoke em if ya got em…and that’s how I roll!