Poker?

Yesterday was really out of all logical context. Apparently the futures jumped after a hedge fund manager was on CNBC before the bell (1 hour or so) named Tepper who runs a Hedge Fund, after his comments that the market will rise regardless of the economy, the futures soared, we were in line for the bounce that I had stated the night before, a regular, to be expected bounce at support-nothing strange about that. Tepper's comments changed all of what.

If you watched the Cramer Video, then you'll know how many games these fund managers play and how CNBC is their podium for disseminating the game. These are usually short term and as I said yesterday, every time the market tried to rally above $114.70 area, it seemed like someone was aggressively defending a short position as the decline from the attempted breakouts were on huge volume-retail traders are not typically bearish, and they don't expend that kind of firepower to knock an index down.

So I'm not sure what the game is/was/will be, but it seems to be, in my opinion, not sitting well with the Wall Street establishment. After all, if they wanted the market higher, anyone of those breakouts -if supported, could have made for a 400-600 point Dow day.

Any way, I spent a few hours last light changing 3C code (look back periods), I use 4 versions of 3c, 3 more then the fourth, but I created about 20 to see if there was something in a timeframe that might have fallen between the cracks, all of these 20 new 3C versions said the same thing as the original 4, distribution.

So there seems to be a game afoot. Yesterday was surely a strange day with really no fundamental reason for such a move. We have a lot of very important releases next week-GDP being one of them. A trend, once in motion is hard to turn around. I'm thinking GDP doesn't show much improvement if any, although Bernanke was claiming 2% for the rest of the year, a strange thing to say right before the release don't you agree?

I don't want to speculate, but I can take that one a couple of different directions-offsetting a bad GDP number with higher expectations, -ok, I just said I won't speculate.

In any case, there's a retired MIT guy out there with a site talking a lot about the "Breakout from the H&S bottom", again I created my volume indicator and again the the bottom bears no resemblance-volume wise which is extremely important in confirming a H&S bottom-to a H&S bottom.

In any case, I'm putting more work into the trading systems on specific stocks. If you have ideas or certain area you'd like to be covered in one of the four, send me an email. I've already produced a 54% return on the first shot.

More coming this weekend...Enjoy it.