Just over three hours... I can't wait. Got lots of ideas of what may happen.

hmmmmm...I kinda wonder about this area here...

That ram sure is impressive. He opened those floodgates, and he never gave up, even willing to endure brain damage along the way. That's why they wrote that children's story about him. Like Carl Futia and all the rest of the 'bulls', he has 'High hopes'.

Originally posted by jimkane

Sure looks like 'up' is a given...

Originally posted by jimkane

The ram seems to be over his brain damage, and is, once again, ramming his head against the dam. He wants to open the floodgates.

Originally posted by jimkane

Any second now? Not even waiting for the European open?

I'd say 'Here's a place to be careful', and a Fed member starts to speak in two minutes, and this is up about that 'magical' 20 in this burst, but in my opinion the chances of this selling today, at all, is 0.000000%. If it sells, I will step right up and say my read was crap. Don't hold your breath, though.

If they go nuts on this into the close I'm looking at around 60. 60 is the next 'big' area. If not today, then I see a gap and run on Sunday, with it looking for this level. But it sure would be cool for this to close at such a key area.

I'm not saying I think it will go up any more today. It may or may not. This is an area here, for sure. I'm just saying if it continues to rise, 60 is my next key level.

An 'ideal' scenario, to me, is that it does come back in, and then rises off that on Sunday, up to that 60 level. But, as far as a countertrend trade, what I was saying before in my sarcastic post is that I don't see any reasonable odds in playing countertrend today. Sure, after-the-fact if it pulls in or sells it would look like a no-brainer, but my experience says it is a sucker play. Maybe my experience is worthwhile in situations like this, maybe it isn't. But one can never look at only one individual case.

This doesn't explain why the Euro started to go insane the second the U.S. stock market opened, but it does show one of the technical factors that it was pushing off of.





Chart created on QCharts, courtesy eSignal

Big tick chart pop in CL there. I know it's just the 'pit' close prep and all that, but it always blows my mind the way that thing moves.

Ridiculous, pathetic market. 37 minutes of action, and then over six hours of nothing. Sure, it was a grind/ride until close, but what fun is that? Sure, if one was long he or she may have had around five more points potential riding for over six hours, but a pay rate of less than a point per hour is pretty pathetic. Lots of risk exposure, and very little gain. But, mostly just crazy boring.

They blow their whole wad in a half hour. Idiots. Just plain idiots. As you can tell, even though I am of the opinion that all this craziness still seems to follow the tenets of the methodology, it doesn't mean I don't get quite upset when they are just so stoo-pid all the time. Okay, see everyone Sunday night, where I expect, as usual, drum roll, please... a gap up. Long live the bull, and his partner in crime, the ram.