So, although I see almost no chance (okay, perhaps one in a million) that this will open anything but up, and then rush up even more, I'm watching 1233-34 if this 1240-41 (Friday's low was 1242, close enough given that 40-41 is the center of the area, not the entire area) doesn't turn it. Like I said, though, it's Sunday night, so it should gap up and run, right?

One scenario is they bring it down a bit more, and then QE3 is announced, along with more Euro bailouts, and then we start Carl's march well into the 1300's, and then beyond. I think they will print until the collapse, as I've always said, and printing almost always leads to higher asset prices. (The value usually declines in reality, but the 'repricing' in devalued dollars has a higher number, like when Zimbabwe went into hyperinflation and in Zimbabwe dollar terms their stock market was the highest performing in the world (from a percentage standpoint)).

So, I think it is just a matter of does it go straight up from here, or do they bring it in a little first before all the additional intervention drives it higher. They may also bring it up a bit, and then down into the early AM, to get better prices, and then up tomorrow. I've mentioned that game in here frequently, too.

Got gold???

If they can get this going (it's looking a lot better now), my first level, for the ABCD, is at 52.25-53.25, with the .447 at 54.64. After that around 55.50-56.25, and then 59.00-59.75, or so.

Keep an eye on as low as 51.50, in case it comes in at the .300 and .886 ABCD. Note that the highest area is a very significant one, as far as lines and some other things. I'd love to see it get up there, not only for the short-term long side up to there, but also as an area to possibly play off of. But, if it can't do much more and rolls, that's a big sign of weakness, and that could be really good.

I sure hope all my European readers, many who follow the ES or the DAX, are able to find use in my pre-European open postings.

Bang! First area hit.

Now, let's keep them doggies rollin'... I mean, this ABCD would be fine, but I'd like more from this long side, then back over to the short side.

Gimme my 'W3'...

Second area hit.

I like the pre-European session to the European open now more than our open, or any other time except perhaps Sunday night on our open leading to the European open.

I just hope some day I can discuss some of this stuff in advance...

C'mon, third area...

I though maybe, if I was really lucky, I'd see the third area by 6 AM, and it would be a trailing stop type of play. I may see it shortly...

And, drum roll please... right into the after-market close they hit... wait for it... oh, the suspense... 54.75. How did he know this? How??? Get serious, how is this possible?

Originally posted by jimkane

Now 54 and change in the after-market???