Just over 21 hours and change... I can't wait.

This is amazing. The surge was happening as I was typing this and posting it. So, if you look at the time stamp it shows as right when the surge was happening, but I hadn't seen the surge when I was typing this. I was looking at the chart, at time factors, the whole thing, and just saw this 26 area as a magnet before the close (notice that I italicized the before the close part, how curious, huh?). It was kind of a crazy post, but I like to throw out things I sense, so if they happen I don't have to do the after-the-fact post saying I really did see this coming.

Anyway, there is an old saying about how when the student is ready, the teacher appears. There could also be a market saying that goes: 'When the market wants an area the news will appear'. See, this 'wanted' to get near that 26 area (I just wrote that real fast by eying the chart, and it got to 24.25!), and it wanted it by the close, based on my work. But, that was really unrealistic. Then news, once again, magically appears and gives it the excuse to do it. It's all pretty amazing to me, how this game works.

Originally posted by jimkane

Get ready, this may actually want to get to 26 or so before the close.

RIMM has a huge miss on earnings. Stock is halted. I wonder how much it will open up? In this upside-down world, it only makes sense it would go up, right? Yes, I am being sarcastic. But I wouldn't be shocked...

Nice image for what I've been saying over and over.





Image from despair.com

Study the charts showing the divergence of the ES with the 'risk basket'. I think these convergence trades are the best opportunity out there, by far. Not an easy thing to do for an average stay at home trader, but they seem to converge very quickly and consistently. So, ES down or everything else up soon? (It can converge in many other ways, so that statement is just a generality. For example, the ES could go up and the rest go up faster to 'catch up' and converge.)

http://www.zerohedge.com/news/just-very-visible-fat-finger

Ooh, more EU news. The big agreement is for a E120 billion 'growth package'. Are they serious? About $150 billion for the entire EU? By one estimate we are running a budget shortfall in the U.S. of $5 trillion a year, a figure I tend to agree with. That means the entire European plan would last us under two weeks just covering our shortfall, not counting what we are able to cover, just the shortfall. Oooh, that's gonna make a big difference for the EU. That is a serious plan, all right. That pop in the market added appx., by my calculations, about $750 billion to the market cap of stocks worldwide. Now, how about the commodities and all the rest? How much did that add? Not a bad return for $150 billion in promises. Too funny.

RIMM actually opened down. Is there some sanity left in this world? If it had been AAPL it would have exploded to a new all-time high, I bet...

And to make that EU plan even more of a joke, most of the 'stimulus plans' are already in place, so perhaps they won't even be spending an additional $150 billion, just kind of reiterating that there are $150 billion in plans unfolding. Hmmm, $150 billion for an economy of about, what, $18 trillion? That will make a huge difference, right?

Time for the ES to give it all back and get to work on those new lows...

uso perfect 1.27

Originally posted by jimkane

There it is! Notice crude popped, too, at the same time. But, will this little pop exhaust it? If so, those 'bulls' are in big trouble.

Love that 1.272. For certain applications, it is one of my most used numbers. I have like a half-dozen ways I specifically use it, and it just 'comes through' for me over and over.