Okay, I'll get it started for this week. I'm expecting another fantastic week, as far as action.

All-time high hit. Tell me you plan to gun those stops at least, right?

Yay! After all that waiting.

5.75 would be a nice place to bring it to, if it has any more.

Well, it did all I could ask for, but given the low volatility and range, we all could have made more money today spending that time flippin' burgers... But, this is a fairly unusual day, so I don't think the burger thing is a better way in the overall.

C'mon, give me that 5.75, or go nuts and hit into the 8+ area.

I'm curious to see what, if anything, happens when cash closes, especially with this little ABCD in here. It would be cool if it jumped to the next level, but it probably could dump just as easily. I think there is some risk holding here to see. Most of the time I have no issue with that, and I'm not saying it's crazy to hold now, but it has more risk that usual I think.

Jump, you oinker.

At least cash closes at another new all-time high.

The old mantra: BTFD

The new mantra: BTFATH

Gotta keep up with the times.

Here's my post from last night. So, the HOD is right in that first/smaller area I mentioned (must be yet another coincidence, you know, the kind we see day in and day out in here). It's set up nicely for a pop Sunday night, then a run on Monday and 'Super Tuesday' to my higher level. Given this is a minor area, they may take it down a tiny bit Sunday, then start running it.

I am on the lookout, in case this is it and it starts coming in, but I'm thinking that's a lower probability scenario. Then, again, if there is anything to the U.S. embassies all being closed on Sunday, then all bets are off. Wait, if some horrible terrorist act happens, or a new war, the market will go straight up. Who knows, maybe it will even hit that 1800's area on Sunday...

[/sarc]

Originally posted by jimkane

Now, the ideal place, from my technical perspective, for this to come back in a bit from is in the 1716-21 area, but perhaps as high as 29, especially if it took some time. Any substantial move above that area 'should' produce an upside acceleration, in my opinion. It could stop in that 1704-07 area from today, but probably not. With this being such a nominal new high, though, I'm not sure it even needs much of a correction. I would say I slightly favor the upside 'breakout', especially being a Friday, with Sunday night, Monday, and then 'Super Tuesday' coming up.

So, the VIX, you know, how worried people are, how hedged they are, how much 'insurance' costs, well, it's less than a point from a near seven-year low going back to 2006. And another point and change from there and you're looking at an all-time low. I agree, not much risk at this point. Yeah, the market is a discounting mechanism. Yeah, the market is forward looking. And yeah, I have a wonderful bridge in Brooklyn for sale with great terms. Yeah, right.