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Tuesday, October 29, 2019

Bloomberg Admits Only 5 Stocks Lifted The $SPX

My plan was to come in and take another look at the little triangle pattern we've traded into, and try to decide what this EW (Elliott Wave Pattern) is, but then Bloomberg came out and reported the truth for a change, even if it was 4 AM...  - so most investors missed it -  ,and now the financial fake news can go back to reporting that, "Stocks Hit All Time Highs". Just proves that markets are being manipulated, as I touched on again, in yesterday's blog -
"Pump And Dump" Markets
After doing a little research this morning, I tracked down this article from Market Watch -
These S&P 500 stocks just hit record highs

Wow 15 out of 500 stocks made new highs! (sarcastic)

So, the information is out there, for anyone who cares to look past the hype, but the average investor doesn't have a clue.... It's like the average person, who hears the "Trump Impeachment", story every day, and takes that at face value. These poor fools probably also believe that Islamic Terrorist, Abu Bakr al-Baghdadi is a "Religious Scholar", who died of natural causes.... See:  Washington Post Mourns Passing of “Austere Religious Scholar” Abu Bakr al-Baghdadi… -

Stocks Hit New All Time Highs: 

$ALLE - This one continues to fly under the radar, but once CNBC starts hyping it, that should be the kiss of death for Allegion.

$LCRX - continued to break out, trading into the top of a much larger parallel channel 

$APPL - took out my short term target 

 $KLAK - I've been following this one for a while. This is what capitulation looks like, so I sold $SOX, and I'll add to that short, if the market continues to be irrational. They say, the market can stay irrational, longer than you can stay liquid, but the people who say that, are just blowing smoke.... 

If you want to short $SOX with me, then make a donation to the website, and I'll send you updates....

$JPM - also looks toppy here, but maybe it can test the 132 level? This counts like a double zig-zag pattern, so I'm expecting a big reversal, shortly - within a week from today.  

$GOOG - I briefly mentioned google in yesterday's update - including it among the pump and dump stocks... See what happens every time it takes out the previous high.  

Biotech eventually broke out, but not sure that continues.

I altered to the reversal in Oil yesterday, and added the chart.

Gold and gold miners just seem to be holding up in a range.

I'm probably covering too many sectors, and I may have to remove some charts from the public charts area.

Opening bell range 2 minutes ago.




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