Mission Accomplished

With SPX having recovered almost two-thirds and FTSE all of its Brexit losses (from their inflated pre-Brexit ramp job heights) by the end of the 2nd quarter, The Powers That Be can pat each other on the back.  The crisis has been averted, the “markets” are safe, and life is worth living again.  Mission accomplished. … continue reading →

Same Old, Same Old

There was some indecision about how low was low enough.  But, in the end, TPTB didn’t let us down.  From yesterday morning’s Stopping the Bleeding: When ES, which has already reached its SMA200, starts popping strongly, we should have our indication.  At that point, CL and USDJPY should be strong candidates for long positions… I … continue reading →

Stopping the Bleeding

The EOTWAWKI Sale There’s something deeply satisfying about being short on a day when the buy and hold crowd is freaking out over the massive (their word, not mine) 5% drop in the S&P 500.  And, that’s what pebblewriter.com is all about — catching most of the moves most of the time, regardless of which … continue reading →

It’s a Brexit!

Update Jun 23, 11:53 PM: BBC, Sky and ITV have all called it.  The Brexit prevailed, and markets are none too happy. Nikkei futures tumbled over 10%……while S&P 500 futures fell about 5.5%, easily reaching our first downside target and very likely to nail our second.Even oil futures were off an impressive 7.4% before going … continue reading →

The Eve of Destruction: Part II

…a follow-up to yesterday’s The Eve of Destruction Everything hinges on the outcome of the Brexit referendum, today.  The results won’t be known for at least another 12 hours, but that hasn’t stopped TPTB from jamming prices higher in the low-volume vacuum of uncertainty. Their rationale is pretty straightforward.  Suppose you show up to work … continue reading →

The Eve of Destruction?

Listening to various government officials and billionaires talk about the Brexit, I’m reminded of the outstanding Barry McGuire Vietnam War classic Eve of Destruction (how many other songs can work the word “coagulating” into the lyrics?) Would a Brexit really bring the house of cards tumbling down?  And, why are TPTB so apoplectic about it?  … continue reading →

Dangerous Curves Ahead

With Fed testimony, the Brexit, key economic data and the fate of the Bachelorette hanging in the balance, this is shaping up as an extremely volatile week. After a massive 8.1% ramp in oil futures over the last two sessions, CL is finally taking a break.   It’s a horribly perverted-looking chart, but we expect no … continue reading →

CL to the Rescue

While the media will ascribe this morning’s exuberance to a rebound in the UK’s “remain” polling, it’s actually oil futures-driven algos that are driving the action.  I suppose it doesn’t matter much, as one is designed to reinforce the narrative of the other. If last week was a return to “normal” for CL, consider today … continue reading →