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Wednesday, September 22, 2021

Market Update 9/22/21 - This is how it's done!

That looks like just another click-bait blog title, but I did catch a nice short squeeze, in one of my beaten up stock picks $ENSC - This one I bottom picked a few weeks ago - of course I don't divulge easily manipulated trades, for obvious reasons, but even I can get excited on Twitter once in a while!

$ENSC - Breaks out, squeezes the short sellers, and is automatically sold at the 50 day moving average ( algorithmic trading programs).  Still these are tough trades to find, and these require constant vigilance, or alerts, or automatic sell targets, which add another layer of complexity, and forethought. Anyhow, any time I see the opportunity to take 60% profits in one day, I'm going to take it, and I did!

Also tweeted this short $VIX trade:   

Also revealed this red hot FinTech trade

$FISV - every MM on Wall Street has to own this winner, or risk being promoted to the Wall of shame.  

As long as I'm on a roll 

I also took profits on my Natural Gas short, and not in any rush to swing trade it, because typically what you see happen after a couple big moves, is consolidation, and it could be weeks, before we see another big move in NatGas, so it's time to put that one on the shelf, and look for the next big move. 

Picking up from where I left off yesterday 

Yesterday, I ran out of time, ranting about the financial lame stream media, and how they feel like they have to invent an excuse, for every market move - no matter how insignificant - when often what you're seeing is a coordinated effort to manipulate markets - which is technically illegal - even if these types of crimes are no longer prosecuted.

 When was the last time you ever heard of a crooked banker going to jail? Like never. Not even in 2009 - after is was revealed that the politicians in Washington had deregulated their friends in the industrial  banking complex. Meanwhile, Bernie Madoff is made the scapegoat, and sentenced to 150 years in prison. Too bad he had no political ties, or he might have received a lesser sentence!  

‘It’s disturbing.’ U.S. Justice Department white-collar criminal prosecutions fall to their lowest level on record, study says (marketwatch) 

Of course CNBC makes it's living manipulating markets, and so do the big banks, who upgrade this, and downgrade that, and as long as they provide legal disclosure everything is kosher. 

Monday's sell-off had about as much to do with Evergrande, as the financial crisis of 2007-2008 had to do with the collapse of Enron, but these stories get good ratings!  By the way, did you know that Kennith Lay, who was indicted by a Grand Jury - in the Enron case - and facing a 45 year sentence, conveniently "died", before he was sentenced. He was a close friend of George Bush, so his death may have well been faked.... Hey, what about Jeffery Epstein, or that kid who was suspected of downloading incriminating evidence off the DNC server? I think, "Seth Rich, was his name" Was he really murdered? Believe me when I say, most of what we see reported every day, is an illusion, but I digress!

Getting back to the financial lame stream media

Who did Bloomberg interview yesterday, but none other than Dr. f'ing Doom! 

Looks like Bloomberg is trying to create mass hysteria again!

 A technical correction

Monday's surprise correction was technical, as proven in the charts. When 50 day moving averaged are taken out, selling programs are triggered, and this started in Germany, just as the so called "covid crash" did. I was lucky enough at the time to see what was about to happen over-seas, before terror struck US markets, and I was out shopping for masks,  well ahead of the crash. Of course most the shelves were already bear, because I'm not the only person in my area who has an ounce of common sense. Luckily, as it turned out, Covid wasn't nearly as serious, as the pictures coming out of China. 

In fact the ships sent to New York harbor, were not even used. Hospitals were never overwhelmed, yet the fear porn continues, almost 2 years later, being pushed, by those in government, and the lame stream media. Makes me wonder what other manufactured catastrophes they have in store for us?    

Getting to the charts 

I have certain chart views I could show, that make it look like the $VIX has broken out, and that the upturned triangles we've been watching have failed, and this is all good, because we're finally going to be able to weed out some of the good charts from the bad.... 

Going back to the $QQQ chart from last week, this was my wave "A" target. Next watch for it to climb back above my green line (and the 50 day ma), and trade into a right shoulder - at my black line. Expect a lot of chest pumping from the bears, when they finally spot that pattern.  

$INDU ( the Dow) The trend is not even close to being broken, and we're seeing support at the 150 day moving average (@ 34,0053), and my parallel channel line (in green). That's also a higher recent high, followed by a higher recent low, which is the definition of a bull market, so the bears who are calling for a bear market really are lost.  Resistance looks like the 50 day moving average, which just happens to be trading at 35,000. I'd kind of expect to see a gap up above that level, possibly as soon as Thurday, when the BOE reports. This is a bigger deal than even the Fed, since Europe is obviously nervous - and not about China, of all things. 

This new is also helping Europe, and may have been priced in ahead of the news. 

Germany's Ifo institute slashes 2021 GDP growth forecast to 2.5% (Reuters)

Out of time again, 
GL this week, AA 

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