012. PIGGISH PLAY - Short the Stock Market
Updated
"The S&P just made all-time highs!" - [Bloomberg Reporter, 08-18-2020]
That it did Bloomberg reporter. That. It. Did. What Mizz Bloomberg fails to understand is that this is neither a sign that the market is in an uptrend nor that the economy is in good condition. As a matter of fact, it is actually the opposite! Surprise!
The Dow and the S&P are about an inch away from death and the only reason that they are still on life support is because of the Nasdaq. More succinctly, the Nasdaq must meet its apparent technical protocol by touching its 1.618 Fibonacci extension before the party ends for everyone. That is the only reasonable explanation for the other two indices to remain afloat. Without the Nasdaq, the market would be in turmoil right now.
That being said, it appears that the Nasdaq will touch this extension sooner than later. Once it does, short the living daylights out of whatever the hell you want. No margin commitment or hedge required.
It could very well happen tomorrow mid-session. If you see a blow-off type of daily candle forming on the Nasdaq, it's already game over. This is not a terribly difficult conclusion to come to, but rest assured, there will be plenty of bagholders by the end of this week. I'm expecting a parabolic-type of gap-up - and then boom - a face-ripping rogue wave of selling that is intended to make the most amount of people lose the most amount of money. That means you, Bloomberg media department.
Stay safe and try to catch the top if you can. Believe me, there is nothing more satisfying - even if it means we're headed for hard times.
- Pig
DJI
NDX
SPX
SPX
That it did Bloomberg reporter. That. It. Did. What Mizz Bloomberg fails to understand is that this is neither a sign that the market is in an uptrend nor that the economy is in good condition. As a matter of fact, it is actually the opposite! Surprise!
The Dow and the S&P are about an inch away from death and the only reason that they are still on life support is because of the Nasdaq. More succinctly, the Nasdaq must meet its apparent technical protocol by touching its 1.618 Fibonacci extension before the party ends for everyone. That is the only reasonable explanation for the other two indices to remain afloat. Without the Nasdaq, the market would be in turmoil right now.
That being said, it appears that the Nasdaq will touch this extension sooner than later. Once it does, short the living daylights out of whatever the hell you want. No margin commitment or hedge required.
It could very well happen tomorrow mid-session. If you see a blow-off type of daily candle forming on the Nasdaq, it's already game over. This is not a terribly difficult conclusion to come to, but rest assured, there will be plenty of bagholders by the end of this week. I'm expecting a parabolic-type of gap-up - and then boom - a face-ripping rogue wave of selling that is intended to make the most amount of people lose the most amount of money. That means you, Bloomberg media department.
Stay safe and try to catch the top if you can. Believe me, there is nothing more satisfying - even if it means we're headed for hard times.
- Pig
DJINDXSPXSPXTrade active
Top is in. Get short or get out. If it trades higher than 3449.68, at any point over the next month, I'll send everyone a penny crypto coin of their choosing.Trade active
Short it!!!Trade active
ahem, excuse me.Short it now, right on the top peg.
Trade active
Bout to get violent here. Adios Mr. Market.
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