THE SPANISH PRISONER

In the oldest long con, the "Spanish Prisoner" scam, the mark gets tricked into putting up funds for a promise of financial reward. Intentionally or unintentionally, news of a coordinated major central banks post Greek election intervention leaked out at 3:00pm on Thursday, 4/14/12, followed by official announcements. And the mark (investors) took the bait and started buying all the way up to the FOMC announcement at around 1:00pm on Wednesday, 4/20/12. The one before this was the "Spanish Bankers" bailout con. Investors put up their funds based on the promise of a bailout of the Spanish banks just to see their money vanished in the next trading session without realizing what had hit them. Anyway, a big congrats to those that had seen right through the con and short the heck out of this one. I'm sure you can take your wife or significant other to the best restaurant in town tonight to celebrate. It's a beauty!

Edited by TechMan, 21 June 2012 - 06:22 PM.

I closed out my financial short today I have been holding. And yes, a night out on the town sounds about right. GL

Excellent, reddybuild. Conviction and recognition.


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And, this is the progression of the Spanish Prisoner con.

And, that should conclude this faith-based rally driven primarily by the world central bankers' "communication skill", which, as Bernanke had put it this afternoon, is one of the central banker's tools.

Almost identical pattern as yesterday (gray circles). One more try tomorrow.

Edited by TechMan, 21 June 2012 - 06:59 PM.

And, as I'm going over my closing data... My "SPY After Hour" has printed the highest reading since 3/15/2012. Prior to that, similar extreme reading occurred on 8/1/2011 and 7/22/2011. I guess we've been warned.

while many , including me, see a good short at 1357 but a bit size short position was more about hutzpah and I bet bery bery few had it...

And, as I'm going over my closing data... My "SPY After Hour" has printed the highest reading since 3/15/2012. Prior to that, similar extreme reading occurred on 8/1/2011 and 7/22/2011.

I guess we've been warned.

Hi Techman,

Thank you for your excellent contribution. I am just asking here, what is "the highest reading"? I got the message, the point is well taken, but I am just curious, is this a momentum reading or ..?

Thank you again.

R.

You're very welcome, Romans. Those are the rare incidents of extreme bullish action in the AH session. You can see why there were such bullish expectations in the after-hour sessions of these 3 dates - 3/15/12, 8/1/11, and 7/22/11. Remember how bullish "everyone" was on 3/15/2012?

I've just realized those dates referenced in the original post above need to be corrected. They should've been 6/14/12 and 6/20/12 instead.

Intentionally or unintentionally, news of a coordinated major central banks post Greek election intervention leaked out at 3:00pm on Thursday, 4/14/12, followed by official announcements. And the mark (investors) took the bait and started buying all the way up to the FOMC announcement at around 1:00pm on Wednesday, 4/20/12.

Edited by TechMan, 30 June 2012 - 08:13 AM.