Well, just a few hours, and then we see how serious they were with that monster drop after the jobs report and that 45 minutes of trading time they had. This is going to be quite interesting, and I've been anxiously awaiting the open...

nice little wipe out....jim must be very happy


meanwhile.....why does it stop here? does this low stick for now? if so, the stage is set for a retest up there in the 141.50 area

when they want the line, they want the line.....this is more like what had to happen

And straight to 54.25 it goes. How does he do that? Tools. Just the tools.

Originally posted by jimkane

Now, on the downside (what's that?) my next key area is in the low to mid 50's. If this can actually go down at all I'll refine that as we get closer, if need be.

I'll just requote myself to answer this...

Originally posted by jimkane

What kinda smile is bigger than an ear to ear grin? That's what's on my face. Man, do I love when this pig sells...

Originally posted by rat89

nice little wipe out....jim must be very happy

...

Here's my daily summary for Carl Futia. If everyone gets sick of my updates, they can feel free to mention it in here. Or just check his blog on their own ( http://carlfutia.blogspot.com/ ). I discuss him frequently because he is totally 'world famous', followed by many, and respected by essentially all. Anyway, he started out with his range for the day of 70-82. Very close to the LOD he updated his post. He said this is a correction in an ongoing bull market. It may find support around 58 (basis cash S&P, ES is about 5 points lower than cash right now, so about 53), with a range of 40-58, and if not then 1288 (ES 1283, appx.). Then up to 1442. Okay, I think I have it. Not sure how to use that for trading yet, but I understand his scenarios now. I think.

think they mean it?

Okay, keep an eye on this little push down here to 52.50, in case it's a last push test probe, and then that's it for now. Five days down in a row, into a key area. It should be looking to bounce soon. If not, then I'd be watchful for a panic climax. But, all things considered, the odds favor this it it. We'll see. They've been acting panicky, and everything is highly correlated. The next flash crash could happen at any time, you just can't tell, with the market so structurally broken.

feels like they want to send it up

Originally posted by jimkane

I'm glad you are okay.

Jim,

Thanks for your concern. Sorry to cause you any distress. A little note from me would have helped. It is good to be in contact with you the Kane Traders again! I think I missed some good trading. Well, I hope there will be more opportunities.

Good Trading,

Al Kamego