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...

If this 4.25 can't do anything for this, watch out below.

If they can't get this off the floor watch Tuesday's LOD, and the Monday right after the close LOD.

I think they will come in here a bit, though. We'll see.

I've fallen, and I can't get up...

For my foreign readers, and those that just don't remember this 80's medic alert commercial, here's the out of context clip with the line. It became a 'famous' saying here in the U.S., even getting a spin off on Beavis and Butthead.

http://www.youtube.com/v/YX8uTRZ9ppk

GZ off the Tuesday LOD... Drawing a snap reaction so far.

Okay, this gives every indication that the buyers are back. Let's see if that proves to be the case.

Watch this little bearish ABCD here at 7, but I can't imagine it would do anything more than a tiny (tiny) little checkback, then up it goes.

I'd call a two tick checkback 'tiny'.

They sure love that GZ.

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.