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jimkane
Rep: 3,058
Posts: 33,089
I'll get it started. This is a holiday week, and for me, that sucks. I am wont to say 'I have no life'. But, I just realized, I don't feel that way at all. My life is the market. What I really mean is 'Outside the market, I have no life'. So, when holidays hit, I kind of hate it. Sometime I even hate weekends. With Sundays (if there is some action), at least I have only one day to muddle through.

Now, as usual, things are on target in the never-ending march onward and upward. I hope I live long enough to see the day when this whole thing implodes, but I suspect maybe I won't. A combination of simply surrealistic ability to extend and pretend combined with my health/luck, and I'll probably kick the bucket the day before it gives way. So, take that as an indicator. If you hear I'm in the big trading pit in the sky, short the heck out of this baby.
Anyway, all joking aside, take a look at this headline:





Here's the link to the full article: http://evilspeculator.com/?p=39382 One of the main takeaways is something I read about years ago. We are not wired for all this information, or our lifestyles. We are wired to walk around with sticks, and never see more than fifty people in our lifetime. As an aside, they did a physiological study that showed every time we see an unfamiliar face, even in a magazine, picture, on TV, etc., we get stressed (even the most calm, confident, happy go luck people, perhaps just less). When we walk down a crowded street and see hundreds of faces we stress, cumulatively, quite a lot, even though we don't sense it. Over time, this takes its toll (with, of course, many other factors like the insane pollution, and chemicals in everything we touch and get our food in. How's that 50% cancer rate looking now?).

We are not wired for this life. That's why headlines like this are appearing right on schedule, and we can expect they always will, like clockwork. This will never change, Our job, if we are to be successful speculators/traders, is to work that to our advantage, and not get sucked in. That is why one of my biggest pet peeves is to see 'traders', some well-respected amongst the amateurs, getting all caught up in the frenzy. It's why I make posts where I sound like I'm super-duper bullish. It's like 'satirical'. It's meant to show what asses those people look like. To bring attention to the concept. I hope my readers get this.
JI
jimkane
Rep: 3,058
Posts: 33,089
ES looks like it is about to pop up. Let's see.
JI
jimkane
Rep: 3,058
Posts: 33,089
GOOG smokin' another new all-time high. PCLN still winning the race to 2000, just about ready to take 1200. AMZN blasting another new all-time high, just exploding, pretty much going parabolic. Speculation isn't done quite yet. I think the end will come as a blow off move, I see no way it won't (unless a triggering event happens out of the blue, of course).
JI
jimkane
Rep: 3,058
Posts: 33,089
There's my expected ES pop.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah, back up from $450, bitcoin takes out $1000. That was never in doubt. I think it may soon take out $10,000.
JI
jimkane
Rep: 3,058
Posts: 33,089
If it doesn't fade and turn here, it 'should' hit new all-time highs off this launch. The only chink in the armor is that we are heading into the close before a holiday on weak volume, so who knows. But, if it makes its typical low liquidity run in such situations, we should see 1810 soon. Big deal, five points...
JI
jimkane
Rep: 3,058
Posts: 33,089
After that, the real area is say 12-13, with stuff up to say 15.
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jimkane
Rep: 3,058
Posts: 33,089
One of my newer theories says timing-wise, this is ready for the move out of the range. The only issue is the low volume holiday trading, which may or may not alter things. Likely not, I suspect.
JI
jimkane
Rep: 3,058
Posts: 33,089
Seems like a pretty straightforward end for the day, rise until close at new all-time highs, either at 10, 12-13, or perhaps 15ish. But, it is very slow, so it might just stay range bound. Hard to say. All one can really do, I feel, is see if it gives it to us, or not.
JI
jimkane
Rep: 3,058
Posts: 33,089
I think the odds of this playing out just increased dramatically.
JI
jimkane
Rep: 3,058
Posts: 33,089
The ES could roll over hard here, so be careful.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah, bitcoin 1242. I think it may reach a million, or more.