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jimkane
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Crude is now up over $8 from yesterday's low. Over a 10% move in 24 hours, and no supply shock, no war, nothing. Honestly, I am stunned by the moves out of the dollar.
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jimkane
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ES essentially at that 55 area. Now we see if it needs to pull back like one or two points, or if it can just keep going straight up.
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jimkane
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That nice little burst into the close sent this well over my area around 55. That would seem to imply it will shoot for that key area around 70. That will give it a nice target for the Sunday night open and initial session. I just can't imagine 70 stopping this, despite how key that area is. I'm thinking new bull market high ASAP. From there, I guess 'up' until the election? New all-time highs? That would get O'Bummer reelected for sure.
Now, imagine QE3 announced at the August meeting, and new all-time highs will be easy by the election. Maybe Dow 20,000? Seems reasonable. I just bought like 100 call options at today's high. Oh, yeah, and I also followed Goldman Sucks call to buy a basket of Spanish, Italian, and Irish bonds. Please, please don't ask me if I'm serious...
Now, imagine QE3 announced at the August meeting, and new all-time highs will be easy by the election. Maybe Dow 20,000? Seems reasonable. I just bought like 100 call options at today's high. Oh, yeah, and I also followed Goldman Sucks call to buy a basket of Spanish, Italian, and Irish bonds. Please, please don't ask me if I'm serious...
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jimkane
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ES up over 50 points in just a tad over 24 hours... I would have bet a zillion dollars against that one without a new massive QE announcement...
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jimkane
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Posts: 33,089
But that ES move is nothing compared to crude being up over 10% with no war, no bombing, no blockades, no threats, essentially nothing.



