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Philip Davis
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  • Fake-Out Thursday – Dollar Sacrificed On An Altar Of Lies

    The Dollar is down 1%.

    That makes the markets go up 1%. Mostly, the Dollar is downbased on a FABRICATION in Uncle Rupert's Wall Street Journal - the most widely read financial publication in the World (next to Philstockworld, of course!). Although Jon Hilsenrath, the WSJ chief economist who started this nonsense made it VERY CLEAR that the story was predicated on IF they decide to do more "capital I, capital F," Jon says - THEN this is the kind of bond buying that might happen.

    That's all it took yesterday to send the S&P up 1% but, if there were a volume measure, you'd see that, on the Dow, 25M shares were traded before 11, and just 35M shares between 11 and 3:30 and then 50M shares were traded between 3:30 and 4pm, almost 100% down volume. The only people that are fooled by these word games are the beautiful sheeple who are so well-trained to buy the F'ing dips that even a misstatement like this sends them into a buying frenzy.

    Ah, fresh meat - we love it! Oil (/CL) was back at $107 this morning and we already caught a nice dip off our favorite sell spot in Member Chat and gold is giving us a good short entry at $1,700 (/YG) as well. All we have to do is watch the Dollar and see if it can hold 79.40 once real trading begins. The Euro is up at $1.324, off the $1.31 line yesterday so up 1% and the Pound is up from $1.57 yesterday to $1.58 this morning and the Yen is loving it at 81.71 (weaker) as they've been solidly backing the Euro over at the BOJ this month and the Nikkei futures (/NKD) shot up from 9,500 yesterday to 9,835 this morning (3.5%) on a 1% drop in their currency so this would be a great spot (below 9.850) to short the Nikkei.

    SPY DAILYFor the Futures impaired, the EWJ April $10 puts at .20 should be a fun way to play the Nikkei reversing, assuming reality sets in at some point. It's 8:25 now and oil just hit $106.50 and that's our take the money and run spot in the futures as we pick up $500 per contract off my 4:56 comment in Member Chat this morning:


    continue reading

    Posted in Immediately available to public | Edit | Join Member's Chat - 15 Comments Here »

    Tags: EWJ, GLD, IWM, QQQ, SCO, SPY, USO

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    Tags: EWJ, GLD, IWM, QQQ, SCO, SPY, USO
    Mar 08 9:24 AM | Link | 14 Comments
  • Whipsaw Wednesday – Dip Buying Or Just Dips Buying?

    SPY DAILYWas that it?

    On February 24th I wrote "TGIF - Sell in March and Go Away?" and I laid out my case for why I thought we were going to fall off the table in March and we have, indeed, fallen right off the table right on schedule since then. I said that Friday, that the post was intended as a bookend to mySeptember 30th bottom call as I felt that we had captured all of the upside we were likely to see off the "good news" that Greece was "fixed" and the economy was "improving."

    I'm not going to say anything bad about the economy here, I'll let Michael Snyder do that with his "15 Potentially MASSIVE Threats to the US Economy over the next 12 Months" - I think he pretty much covers it! 8 trading days ago (2/24), we had two short trade ideas in our Morning Alert to Members, they were:

    • SQQQ April $13/17 bull call spread at .70, still .70 (even)
    • DXD April $13/15 bull call spread at net .55, now .70 - up 27%

    SPY WEEKLY In Member Chat that day, Exec asked if I was getting bearish andmy response was:

    Bearish/Exec - Are you kidding, this is me painting a sunny picture! Give me a few drinks and I'll tell you how off the rails the Global Economy is right now… Do you know how much Kool Aid I have to consume not to scream short on every single stock I see. CAT $116, CMG $386, DIA $130, GMCR we already did at $70, IBM $200, KO $70, MA $415, MCD $100, MMM $88, MO $30, MON $80, MOS $59, OIH $45, PCLN $593 (did them too), QQQ $64, SPY $137, TM $85, USO $41.50 (got 'em), UTX $84, V $117, WYNN $119, XOM $87, XRT $59 (got 'em) - and that's just off my watch list of stock I like to buy when they're cheap! We are not just priced for perfection, we are priced for perfection plus a return to full employment a forgiveness of all debts without write-downs and inflation without rising interest - we are priced for Nirvana!

    It's a big list but, of course, they are pretty much all winners now, with PCLN the notable exception (so far). Later that day, during Member Chat, we
    continue reading

    Posted in Immediately available to public || Join Member's Chat - 5 Comments Here »

    Tags: CAT, CMG, DIA, DXD, GMCR, IBM, MA, MCD, MMM, MO, MON, MOS, OIH, PCLN, QQQ, SCO,SPY, SQQQ, TM, USO, UTX, V, VXX, WYNN, XOM, XRT

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    Tags: CAT, CMG, DIA, DXD, GMCR, IBM, MA, MCD, MMM, MO, MON, MOS, OIH, PCLN, QQQ, SCO, SPY, SQQQ, TM, USO, UTX, V, VXX, WYNN, XOM, XRT
    Mar 07 8:40 AM | Link | 1 Comment
  • Phil Calls The Sell-Off On BNN Monday!

    Phil Davis of Philstockworld.com on Business News Network:

    Mar 06 5:22 PM | Link | Comment!
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