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...

That pop smoked it through this area, and well above the TL. Now, this could be a fake failed backtest, and I'll watch for that, but I doubt it. Just something to keep an eye on, though.

Originally posted by jimkane

Let me mention that there is something at 13.25-.50, and although I think the highs will be reached soon, this is an area I will be keeping an eye on, too.

There's another squirt there. No fake failed backtest. It's getting almost frenzy-like. I suspect they will hit my top area way, way before when I expected, which was near the European open. I'm not sure if this implies we are about to see a huge move, but I'm wondering. Usually 20+ points is enough to have it need to digest. If it takes out the high by a nominal amount that's 20 points off the low. It just doesn't seem like it 'needs' a 30+ point move in one shot, yet it's acting like it. This has me wondering what they are up to. Just some thoughts.

BTW, that squirt up was to... 15.75.

Originally posted by jimkane

I'm thinking it wants to get to 15.75-16.50, and then perhaps 19.75-20.50. The latter area is back to the battleground for those recent highs that it couldn't hack after so many tries. If it gets there I don't think it will fail this time. It's a big if whether it can get up there, but I'm betting it can. We shall see.

so a dog goes into a bar.....

I see the bullish pattern in there, but the thing that catches my eye is the beauty of a potential move down into the blue box after hitting minimum up target at green median line three times right in the kz....

rat,

Thinking ahead of the action. I like it, and I am trying to do more of it myself, without talking myself out of something.

Al Kamego

morning albert.....anything is possible, right? we're heading for a gap open right into the kz of yesterday's move down

i am sure you were all in this.....and so it goes..
http://stockcharts.com/h-sc/ui?s=QQQ&p=1&yr=0&mn=0&dy=2&id=p00120919729&a=227725096&r=1339679898912&cmd=print

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.