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First there seemed to be vampires everywhere in popular culture (and there still is), then werewolves, and now zombies.
George A. Romero may have started the zombie culture with his film Night of the Living Dead in 1968, but I wonder if he ever thought it would mutate into weekly television programs like The Walking Dead on AMC? I highly doubt he thought his film idea would morph into reality, in a way, like zombie banks, zombified sovereign balance sheets, and now zombie markets.
The stock indices are now like the walking dead: they are zombies. The electronic S&P500 is a putrid rotting corpse that is somehow able to amble from one place to the next without falling apart – now seemingly daily.
Yesterday I mentioned the day’s preposterously low volume with a better close. By the way, at the close of the session, the ES had more aggressive sellers than buyers…and it managed to keep from liquefying into a bowl of zombie puss.
Sadly, Tuesday was yet another zombie day. Although the volume was better than Monday’s, it was still -31% below the recent average. Moreover, the ES traded within outrageously narrow ranges for most of the day – some as small as 2ticks for very long periods of time.
I wish the economic data would put a bullet through the brain of this zombie market so we can get back to real life. Trade well and follow the trend, not the so-called “experts.”
Behold the age of infinite moral hazard! On April 2nd, 2009 CONgress forced FASB to suspend rule 157 in favor of deceitful accounting for the TBTF banking mafia.
larrylevin@tradingadvantage.com
Trading Advantage
(888) 755-3846  |  Larry Levin's Trading Advantage is a leading investment education firm that empowers traders to achieve and surpass their financial goals. More than 50,000 students have used Larry Levin's proven techniques for powerful results. |
Trading Signals from the Electronic (ES) mini-SP 500
- FT sell @ 10:20am at 1398.25 = -0.50 & -0.50 (2 lots)
- Algorithm positions (4)
- “Reading the Tape” positions (2)…combined Secret’s, Algo, & “Reading the Tape” total… +0.50
Click Here to See Yesterday's Detailed Results
ES 1401.50 / 1397.00
POC... 1399.25
YM 13148 / 13120
NQ 2718.00 / 2704.25
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Keep a civil tongue.