I'll start off this week's topic. I think it may be quite an exciting week, with all the European 'news' and potential for meltdowns and meltups.

I'll post a pic I just took here for fun. You big city folks should get an even bigger kick out of this than the rest. Here's a pic of my garage roof. It's not as green as it will be in the summer because we are still in 'winter' here. Even though the climate is somewhat moderate, we had snowflakes just yesterday. One might ask why don't we scrape it off? We do, it just grows back so fast it's crazy. Nothing like living in the rain forest.

64.50, I guess that's close enough. We'll see what it does in the aftermarket. Lots of trading left until the holiday hours kick in.

Originally posted by jimkane

65-66 is my next area, a nice place for this to close...

Hope everything is ok in real life roofer

Originally posted by roofer

real life has intervened.... exited all positions and dealing with other things

Oops, one of my students pointed out to me (awhile ago, but we were doing a session) the trading did close just like a Friday. On my QCharts the hours looked like it was to reopen because it showed Thursday by the hours, but it actually had Thursday over the top of Sunday, so those hours shown were for Sunday. I assumed it wouldn't trade until Monday open again, so all this made sense. I usually check the Merc site to confirm the hours, but this time I just relied on what I thought I saw in QCharts, and assumed it would trade until tomorrow open and then reopen Monday AM. At least this way we get Sunday trading, which I didn't expect. I'm not sure how they decide on these hours. Anyway, I was way off on the hours, and I wanted to clarify that.




Chart created on QCharts, courtesy eSignal

Originally posted by jimkane

64.50, I guess that's close enough.

We'll see what it does in the aftermarket. Lots of trading left until the holiday hours kick in.

Originally posted by jimkane

65-66 is my next area, a nice place for this to close...

Spy got right where it had to go into the close of the day, week, month and quarter....awesome

Isn't it, though?

A couple of years ago I would have convinced myself it could turn down without going all the way....you say it enough times, I watch how the multi day trends often hit the mark into an inflection point in time/ ahead of news/ into the holiday weekend/ opex/ jobs.....right where roofer called it a couple of days ago....note that the setup is right for a good 50 point pullback in spx if that's the intention

I don't want to wade into something where I don't belong, but I think you're asking for feedback. Without knowing exactly what you're referring too, my take is not exactly that it's no big deal, but similar. I learn from everyone one here; traders are all different, trade differently, explain differently. Also, traders have other lives and are here more or less depending on who they are.

The only rules I feel strongly should be on a forum like this are civility, not criticizing other traders and their styles, not selling another site, things along those lines. This is really one of the very best in those terms, very constructive overall. For me, having the forum and Jim's comments all in one place is the most valuable format, and encourages dialogue that doesn't take place when those two things are separate. Even the fact that some of us post setups that aren't strictly Kane setups but often tie in with Jim's teaching is a positive, at least for me.

I would not lock down the forum, or make hard and fast rules other than the ones I mentioned because I feel it defeats the forum as it has evolved to be. No one is going to like every aspect of the way it functions, but it has a life of its own which I believe should be nurtured. Just my 6¢.....

Originally posted by jimkane

Hmmm, I just realized something. I am probably not going to get many, if any, thoughts or replies to my post. To do so would mean 'choosing sides', and I can see that few if any would want to do that. If they say I should 'enforce' my rules, then the person on the other end of that gets mad at them. If they say I should lighten up and let things slide, that may be perceived as going against me. I didn't realize this when I posted the above and asked for feedback, for help. I thought I was being as fair and upfront as I could be, trying to involve my readers and ask for help in a tough situation.

It just hit me now the situation we are all in. Hence, I guess, I'll have to decide. And I feel like no matter what choice I make I (and we) lose. If I say I'm just too stressed out and I'm leaning towards just locking the forum, I know I'll get e-mails begging me not to. I guess maybe the best thing I can think of is, if you have something to say on the issue, please send me an e-mail and let me know that way. At least I'll know where some people stand before I make my decision. Thanks.

Here is my two cents, unadjusted for inflation. I consider it a privilige to be a member of this forum and see how other traders do things, based on the Kane Trading Methodology. This forum is one of the most awesome things I have seen in this sham-filled world. IMO, one's health is of paramount importance, and I think it should be guarded carefully, if one is to maintain it. I say this as I face serious health issues of my own, caused, in good part, IMHO, by my sedentary lifestyle. I love the charts, and IMO, a picture is indeed worth "a thousand words." IMO, when the aggravation gets to be too much, it is a sign that one should put some distance between one's self and the source.



Sincerely,

Al Kamego