let's hope I got the dates right!

44.25 is the HOD so far. Right to my key area on that blast up. But it looks far from done. No problem, gimme another leg. Gimme several more legs. I'm fine with that. 'Hold the nose and take the long setup...'

Originally posted by jimkane

Here are the upside levels I am looking at, assuming it can bounce at all, even after five straight down days.

36.00-37.25 (the ABCD area)

40.75-43.75 (best 'center' probably 42.00-43.75)

47.75-49.00

As much as I'm ear to ear grinning all the time now, I'd really like a bounce in here to keep the trend healthy so it has more chance of continuing. But who know, it may be totally done now. I have two levels of potential 'support', here and just below around say 16.50-19.00. It may even try to gun those swing-point stops at 14.50, but any more and it is doing something different, in my view. Fun times!

And if it dumps here, wow, that would be cool.

Gold sets the new all-time record in Euros and Swissies today. All-time highs.

Yay, I even got a 'retest' of the high. Suh-weet. Now let's see if it's just an ABCD of some sort, or a real sell off this key area. I still have another level above that is pretty nice...

Originally posted by jimkane

And if it dumps here, wow, that would be cool.

There's a very good chance that from here to say a point lower is all it will do.

Normally I try to stay somewhat on topic in here, at the worst I drift to economic stuff (notice I haven't done that too much lately?), or posting music video clips and lyrics as they relate to trading concepts. Since things are so slow in here I am going to post a video that has nothing to do with trading. Or maybe it does? Let me first quote from the movie Searching for Bobby Fischer:

"In the days before the event, he had the whole world wondering if he would show up. Plane after plane waited on the runway while he napped or took walks and ate sandwiches. Henry Kissinger called and asked him to go for his country's honor. Soon after arriving, he offended the Icelanders by calling their country inadequate because they had no bowling alleys. He complained about the TV cameras, about the lighting, about the table and chairs, and the contrast of the squares on the board. His hotel room, he said, had too nice a view. None of this had anything to do with chess, of course... or maybe it did."


Make sure you switch to 'full screen' for this one, and have the sound on.

Here's one about just how funny the market is. RIMM is up huge in the AH, like 14%. Why you ask? Did they blow out the earnings number? Knock it not only out of the ballpark, but out of the universe, like AAPL? No, they lost 27c per share. And they are way, way up? Yes, you see they market expected they'd lose 47c a share. So they lost a lot less than expected, hence that makes it very desirable to own them, and people are rushing in to buy them hand over fist. Hurry up and get your shares of this loser, since they aren't as big a loser as people thought they'd be. Sign me up. I'll take a million shares... Too funny.

what a relief!

This is awesome. Think about what they are saying now. Think about guys talking like Carl Futia. Think about the famous 'Internet analyst' who had the 'Strong Buy' recommendation on that very well-known Internet stock from how many hundreds was it, all the way down until $3 before the 'Strong Buy' was changed not to sell, but I think to one level down, what's that, 'Conviction Buy'?

http://slopeofhope.com/2012/09/permabull.html

Gold's ready, I think, for its assault on 1,800.