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

Watch the ABCD and other nearby areas here, because that toppy look there surely drew a lot of shorts in, and they are now 'trapped'.

What did I just say??? Too funny. They never learn.

A hundred year ago they'd have called that 'a bucket shop drive'.

From Reminiscences of a Stock Operator:

"They'd bull a stock, on paper, and put the customers in and then they'd execute one of the old-fashioned bucket-shop drives and wipe out hundreds of shoestring margins. They did not spare anyone, women, schoolteachers and old men being their best bet."

"Whenever there was an unexplained sharp drop which was followed by instant recovery, the newspapers in those days used to call it a bucket-shop drive."


In this case, of course, it was flipped over because it was a supposed decline in the market the traders were in.

Edit: fixed the above quote and added another one.

See, though, see how this game is played? Okay, keep an eye on this 83.25 area. This might keep dumping, but if not, this is an area they may come in.

Now, what I'd really like, is 80.25-82.00. Is that too much to ask? Imagine, begging for that little bit of downside. And not getting it?...

I won't even list any lower levels, since this 83.25 will probably send it up, just to drive me to madness.

I love long side (okay, I'm exaggerating), I love short side, but one thing I don't like too much is a one-sided market. I feel I know how to trade it, but I simply don't like it. I hate getting into things that are overstretched on too small pullbacks...

83.25, from here on out known as 'The Brick Wall'.

Crude sets another new high. It's on fire. I wonder how the middle class is going to do with this explosion in gasoline prices. I'm sure it will have no effect on their spending. And the pop in delivery costs for everything we buy at the stores, FedEx, UPS, all that, it also won't have any affect, it won't slow things down at all. Time for some fresh new market highs.

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