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JI
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
We had six today. That's the upper end of the pathetic range this forum has devolved to. I don't get it, I just read that margin debt hit another new all-time high today, markets are hitting new all-time highs nearly daily, the public is 'in' big time, this is the blow off time for the 'bull'. This, in 1999/2000, was the time when things like BigCharts sold for $80 million, and IPO's popped incredible amounts on their first day. High flyers went up +100 or more in a day like it was nothing. And this awesome forum has six people on a great day, and because it's a holiday week the off the charts fantastic MyPivots forum doesn't even have a daytrading thread at all. Something is not right. Oh, yeah, this 'bull' is just machine manipulation using tricks like quote stuffing (which can make a market rise without any buying, if you can even imagine that!), with no real buyers of diversity, like a real bull market. But yet public margin debt is higher than the 2000 and 2007 peaks... When this ends, it will be read about for literally thousands of years (if written records survive at all, something I am not so sure about).
JI
jimkane
Rep: 3,058
Posts: 33,089
This is curious (it's something I've been watching on my own charts), but what worries me is it is being shown on many blogs. Here's an example, to save me chart work, and to show it is 'out there'.

http://www.tradingchannels.co.uk/2013/11/all-indices-hitting-major-resistances.html
JI
jimkane
Rep: 3,058
Posts: 33,089
ES making the turn upwards.
JI
jimkane
Rep: 3,058
Posts: 33,089
Just watching the European open. ES false started before, and has been chopping in a tight range since then (like you don't know this...). And on the next timeframe up, it's been doing pretty much the same thing since Monday. When it comes out of this range it should be spectacular. This is particularly interesting because everyone is expecting an upside breakout, and all the talk is where the ES is headed next. And no matter where it goes, the targets will be upped, ad infinitum, as they are reached, as usual with the bulltards. Point is, I think it is possible it may drop down lower, perhaps to just sweep the stops, perhaps for a bigger correction, just because it seems certain it is going to rise.
MA
MarcinO
Rep: 67
Posts: 5,506
TL fakeout and then down?

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es 2013 11 27 png
MA
MarcinO
Rep: 67
Posts: 5,506
It saw the area and now is sitting on it for over an hour. Great...
RA
rat89
Rep: 0
Posts: 7,015
Click image for original size
screen shot 2013 11 27 at 10 53 49 am png

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screen shot 2013 11 27 at 10 54 42 am png

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screen shot 2013 11 27 at 10 54 34 am png
MA
MarcinO
Rep: 67
Posts: 5,506
If it will make it that low 1799-1800 may provide some support.

Click image for original size
es 2013 11 27 support png
MA
MarcinO
Rep: 67
Posts: 5,506
Pretty nice selling so far. If 1800 doesn't hold ABCD to the October low TL will be a key area.

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es 2013 11 27 support 2 png
JI
jimkane
Rep: 3,058
Posts: 33,089
Great charts, rat. Nice analysis, Marcin.
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah, bitcoin 1242. I think it may reach a million, or more.