Some areas for ES. If a fifteen point drop anticipated by ZH is going to happen, it will fall into a nice grouping.
http://www.zerohedge.com/news/2013-10-13/early-fx-indications-eurjpy-slide-implies-15-point-futures-drop-open

I love this guy. If you have some time, this is well worth it. I love the last scene on this video.

http://www.zerohedge.com/news/2013-10-17/janet-yellen-exposed-truth-behind-myth-0

Gosh, I am so tired. But I had to see the open. I only had a little nap today, as you can tell by my constant posting. Anyway, one tick from that high. Could this start the checkback from there? It really needs a bit higher, but you never know.

4PT ?

GOOG up about 120, way over 1,000. Nice day. I'm sure the earnings/fundamentals justify the 120 pop. This is exactly what I was watching for to indicate the final blow off leg has started. But, that was back when I thought we were due a bear market. I no longer expect a bear market, despite a market history that says one will happen when these conditions have been assembled. This time it truly is different.

CMG doing nicely today, up like 63, but that is on a stock that was at 439 yesterday. So, it's up more than GOOG proportionately. Nah, there's not too much loose money sloshing around. Nah, there's not too much froth. Nah, there's not too much speculation. Nah. This is good, solid, wise use of capital.

Yawn. So boring. Just one new all-time high after another. Yawn.

It's now 'all up in dere'.

(For my overseas readers 'dere' is a regional dialect 'slang' for 'there'. It's not a new word, it how 'there' sounds when pronounced by such people.)

Very scary stuff.

http://armstrongeconomics.com/2013/10/18/currency-controls-at-chase/

Russell, Midcaps absolutely smokin' at new all-time highs, Trannies new all-time highs, NDX and Naz comp smokin' at new highs for the 'bull', looking even stronger than the Russell. But we aren't devaluing our money as fast as Venezuela, so check this out:



That's our future, S&P 3400. Go, Yellen! This is good, right?

Source: http://www.zerohedge.com/news/2013-10-18/sorry-russell-2000-caracas-stock-market-shows-how-its-done

So, they keep saying there is no inflation, and we need more inflation. Let's see. I got my prescription the other day. It was up. 265% My better half just called me from the grocery, my almonds are up from last time. 20%. I looked at my tax software for this year. It was up. 33.33%. Recall that link I posted for health plans and all those triple digit increases. Nope, all that doesn't sound like any inflation to me. I agree, we need lots more.

BTW, let's quickly talk about the CPI. Now, for me, my medical insurance is almost 40% of my total expenditures. So, for me, I'd like the CPI weighted so medical insurance is figured at about that level, say 40%. Look at what others pay. And to do it right, you can't look at all those who pay little getting it from work, and figure that percentage. If your employer is paying for it, it's the same as if you are. In theory, the employer could just pay you more and not include the insurance. It's the same with FICA. I'm self-employed, so I pay 15.3%. Workers pay 7.15%, but their employer pays the other 7.15%. If they didn't, they could pay you 7.15% more. So, you pay it all, regardless. I think 99.99%, literally, of people are simply unable to comprehend that fact no matter how many times it is explained to them. It's just a limitation of the human mind (and poor education), and it a big part of why we are in the mess we are in.

Anyway, I think the CPI should weight medical insurance between 20% and 40%, but more towards the latter. And since this is one of the fastest increasing expenses, it is very important that it be weighed accurately, to insure accuracy in the CPI. The current weighting? 0.6%. Yes, 0.6%. Well, that's a nice way to keep those old inflation figures down. The Chinese recently did the same thing with housing data. They tweaked the weighting of houses, and the weighting of rural/city data, and so on. Presto, no inflation in China. EZ-PZ. Yep, there's no inflation.