I'll start it off again this week, early. I'm going to make a few posts regarding sentiment and other such things as I feel we are getting close. It's either already done, or it has to have that final, insane, suck every last one in blow off move. I'd hate to think that move carries all the way to 2000, but it may.

Many are watching the 1750-75 area and areas near that, so I think the odds of that being it are very slim (you never know, though, especially if they say that area will only check it back a little, or not at all, and then they post higher levels, which is what I suspect they will do...).

I wish it could be here, but I just don't see it. Also keep in kind, the debt ceiling is coming up again this fall, so maybe that's the phony catalyst. I just don't know. Anyway, some sentiment to ponder coming up.

http://slopeofhope.com/2013/07/runaway-russell-epiphany.html

Let's see if I can translate the old slang into the written word: "Well... Shuh!"

Originally posted by jimkane

ES ready to pop?

Now we see (as it hits the first area) if it is a 'real' move that may run into the close, or just a boredom stop sweep let's do something move.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

So, since I have to watch this and it is like totally frozen, I'll do some writing. If you don't like 'cynical', 'doomsday', and so on, just skip this post. It doesn't belong in the trading thread, but this is where everyone hangs out, so this is where I'll post.

I was reading an article, and I thought it wasn't too bad. Most articles are just telling me stuff I've been writing about for years and years, but here and there I get a new insight. Anyway, one person commented that he thought the article was all BS, the same old drivel. I thought he was going to be a shill for the gov (they have now shown they hire hoards of people to post pro-gov things on these sites). But he was going the opposite way, he was saying they are liquidating the system, end of story. Now, that happens to be my viewpoint.

I have been saying for some time I do not think they are simply doing an extend and pretend, perhaps because they have nothing else they can do. No, I think they knew in 2008 it was over, but they had to decide, let it go then, or extend and pretend and liquidate what they can, and when they can't hold it together anymore then it goes. I think they opted for the latter.

Here's my little analogy. Say you are part of a group of corporate farmers with milk cows. You milk the cows hard, but not so hard that they can't be sustained, to provide a lifetime of servitude. But greed overcomes better judgement at some point, and you milk the cows until the udders bleed, and then some. It becomes clear you pushed it too far. The cows are doomed, they can't be saved.

So, do you go to the cows and tell them they are toast? Or do you tell them things are fine, they are being rested and things are really, truly showing improvement? And it looks that way. Meanwhile what you don't know is that the heads of the farms are making arrangement to sell your meat, your hides, your internals to be dried and ground up as pig food, and so on. Things are truly looking up for you on the surface, but in reality, you are being liquidated.

Recall the story about the turkey. He loves the farmer, who comes to feed him every day. The farmer treats him real nice. He thinks the farmer is his best friend, and that nothing will ever change, or can ever change. He knows who his ally is, who his friend is. The nice farmer with the sweet corn he feeds him every day. Then one day, a day called Thanksgiving Day, comes, and the farmer does arrive, but without corn this day. He arrives with a nice, shiny new ax. The turkey thought he had a very good idea of what has been going on, and what his role in it all was. He had to find out the hard way. So, too, will it be with us.

It's all about liquidation right now. When that is done the farmer will show up without corn, and most will have totally dumbfounded looks on their faces, not understanding how things that can't change are indeed changing. They are not trying to make this better, they are not even trying to just keep it the same with extend and pretend, they are preparing us for slaughter. Sorry to be the one to drop that one on you...

This thing is just so slow, but the time is approaching to see if they do the late day goose up. If they really popped it, a big if, low 90's would be a nice area. I'm ambivalent if they will or not, so this one falls in the category of 'management mode' and just see what it does. I can't see it selling, but you never know.

Let me mention that this is sitting in a key area right here, so it may be content to just grind to a close here, and then pop on Sunday night. I'd prefer the pop now, for obvious reasons.

Coming into the meat of the key area right as the cash closes. How interesting. Must be a coincidence.

It's trying in the after-cash...

Originally posted by jimkane

This thing is just so slow, but the time is approaching to see if they do the late day goose up. If they really popped it, a big if, low 90's would be a nice area. I'm ambivalent if they will or not, so this one falls in the category of 'management mode' and just see what it does. I can't see it selling, but you never know.

BTW, that's a new all-time high there for the ES. Yawn.

There it is!!! So, would 90.50 count as 'the low 90's'? I'd say so. And it still has 45 minutes starting at the bottom of the hour. What's left for Sunday night, and the typically upward biased Monday, and 'Monster Tuesday'. Oh, those poor bears. There time will come, I suspect, but probably not until 2000. Funny (as in 'sick' funny), is that if it then goes into a 'bear market' and drops 20% it will be where it was earlier this month. A bear market might take us to around here! Somehow that just doesn't seem like a victory for the bears, who have been getting monkey-hammered for about four and a half years so far. Life isn't fair...

Originally posted by jimkane

This thing is just so slow, but the time is approaching to see if they do the late day goose up. If they really popped it, a big if, low 90's would be a nice area. I'm ambivalent if they will or not, so this one falls in the category of 'management mode' and just see what it does. I can't see it selling, but you never know.

This should get the weekend started off on a good note...

http://www.zerohedge.com/news/2013-07-19/friday-fiction-or-fact-funny-drunk-ben-bernanke-speaks