Just over three hours. I can't wait... Lots of action over the weekend, including the 'big' Spanish bank bailout. Here's some food for thought. It's essentially identical to every comment on the topic I've made since the '09 bottom. As an intelligent investor I hear the news of a huge, monster (proportionately it's about double the size of our TARP) bailout of the ever so important Spanish banks, and I want to sell everything I own. Shoot first, and ask questions later. If it's that bad, I'm 'a steppin' aside'. But, I think there is a good chance this thing gaps up 20+ points. That is extra significant because we are in a key area. It may have one more little push up, or it could happen where it has already hit. Anyway, the market rockets up, through a brick wall area, on super bad news?

The logic is actually there. I still am caught up in the myth that it's a free market, that it discounts actual value, and that investors will be making decisions on the news. Wrong, in my opinion. It is nothing but manipulation. The powers that be will, of course, instruct their primary dealer minions to spend some of those trillions they are stealing from you and I to gun this up on the bad news, in order to prevent panic, scare hedge funds silly, and create an atmosphere of the market being thrilled to pieces with the bailout. Hence, all is, or will be, well. See, that's the game we actually have.

Combine this with a record short interest in the Euro and a short squeeze there is an accident waiting to happen. And Euro exploding has, since the '09 bottom, meant 'risk on'. This thing is all set up for a big leg up, as insane as that sounds (and is, in my opinion). And it would distress me tremendously if this great area is 'blown out'. But, alas, I am fully expecting these filthy scumbags will do it. To me it's tradeable no matter what it does, but some things would be easier for me to stomach. About three more hours and we'll know...

So, see if that 8.75 is it, and now up like a rocket. Watch the line from below for clues, but also for additional traps.

wow..........

A near perfect backtest of the TL. No, that's not a trap. This may continue down and take out that LOD (I hope it does), but if this isn't a trap, wow, it was set up for it perfectly. Hence, real sellers?

What I'm saying is, they do the backtest and roll it hard. This sucks in a zillion shorts, and panics longs who held out. Then they drive it up hard and over the line, getting them all. That's one of many games they play repeatedly. If they pass this opportunity here then it implies, to me, some real sellers are back.

The trap may be about to be sprung...

My view here is 'short side bias', so I hope they hit it hard to the downside, but I keep wincing, waiting for the trap. It's just about to the point now where it's too late. Downside coming...

Right to my area and a small bounce. But this has the look like it could really get selling, so my viewpoint here is 'patience'.

something keeps telling me the big bear abcd says a trip back to the recent low.....it would be unusual for a tank into oe, wouldn't it?

This 4.25 really should bounce it (or less likely, reverse it).

Yeah, I think the tendency into OE is to gun it up.

And the SPY 'breaks out' for another big push up, appx. 3.75 ES points from where it closed. Now that's impressive. They want it, and they want it bad. Can't wait to see the news over the weekend, and how the market takes it.