Just getting ready...

All I have found is one quip 'amid rumors of a release from the strategic petroleum reserve...'

That's it? A rumor dropped it $5? So, someone buys puts or shorts the futures and then starts a rumor and makes millions and millions? No investigation? This is nuts.

And Bloomberg and Zero Hedge, not a peep in well over a half hour. That's nuts, too.

I sure wish the ES would just go ahead and dump...

It takes ZH an hour to post something, and it has no new information.

http://www.zerohedge.com/news/markets-gone-wild

Is this ES finally going to correct?

That 50.50 sure looks like it on the ES. As soon as it looked like it could drop, they come in. They know where to watch, that's for sure.

This is just a thought, not a technical perspective. I think the chances of crude being right back where it was by tomorrow, say around $99 or so, is essentially 100%. We'll see. Just 'stoo-pid'.

I'm just going to toss this out there as a thought. It probably won't amount to anything at all. The LOD today at 15:34 PM and at 50.50 was a very key area. It triggered nicely. Normally, the only thing to do with this, by my way of thinking, is let it run for new highs and manage accordingly, in case it doesn't get there.

This one, though, I'm starting to wonder about. I keep feeling like the bounce areas are calling to me to short it. One the one hand I'm perhaps the most bullish I've ever been. I'm thinking new all-time highs over 1576 by the election, with 2000 a lower probability, but not out of the question area by year end or shortly after. On the other hand it really, really needs to come back in, 'sell the news' a bit, and maybe get to at least the low 40's or low 30's. In a 'normal' market I'd be looking at that and more, and with confidence. In this market I'm not sure it can even pull back that much.

So, one option is if this starts to act weak, but without a full trailing stop hit, take it off and wait on the lower areas, and see what sets up. Another option is take it off and look to get short, not only looking for the lower areas, but in case it really does come in, as low a probability scenario as that seems. It does need it. The downside to this option is if it was just a head fake it will cost a stop out and the lost opportunity cost. That's why I rarely look at such an option. I mention it now because this one is giving me a funny feeling. Probably we all laugh about this tomorrow, as it sits at or near new highs. We shall see...

P.S. Watch this little bearish ABCD in here (with a 1-min 3D) for some clues.

This market sure has turned to garbage since early August.

That was a nice finish in my opinion. Nice grind down all day. Get in, ride until close. Boring, but a good plan if one implemented it.