MARKET COMMENTARY (8-21-09)

I am overwhelmed by the response on my last post. Incredibly, with all the comments on the blog, tweets, and e-mails combined, I received north of 500 responses. I believe I made my point.

I will listen to the community and make every attempt to just "ignore" these idiots. The blog comments section, the @replies to my twitter, and the 100+ emails in my inbox are proof and testimonials of what I do, day in and day out. Who can say anything now? They can't.

However, I do have unfinished business with one idiot who I will deal with in the future. I am just collecting and saving up my best ammunition to use against him. Sun Tzu said, "draw your enemies in with the prospect of gain, then take them by confusion". I am waiting patiently for the most opportunistic time to attack. It will be extremely painful for him.

Now, adjusting back to my old self. The market remains in consolidation. Notice the broadening formation (funnel) on the 10-day and 1-month? However, also note the neutral range on the 2-month/60-min and 6-month daily. We are in a neutral range which does not warrant any significant action in terms of taking absolute sides. Just stick with trading the high-probability setups and you'll be fine.