I'll kick it off with a 'must watch' video. These are the same type of people who are doing all the talking right now. It can be shown over and over how wrong all these people are, analysts, politicians, central bankers, bloggers, all of them (I've seen videos showing what Greenspan and Bern-Qwacke have said, and they were so wrong over and over it was just crazy, and they are/were in charge of it all! And Old Yeller, she said she basically missed everything that has happened, and now she's going to be in charge!). Their track records are abysmal. Yet they make tens, hundreds of millions, are completely and utterly respected, and they get endless TV time. It is, perhaps, the thing that makes the least sense of everything I have ever seen in my entire life. Yet it is so, and I think will always be so.

http://slopeofhope.com/2013/12/a-sobering-look-behind-and-ahead.html

Nice one, rat.

Magic, rat. Magic happens...

and at a crucial spot for the bear case:

BTW, FB hit a new all-time high today, making back all that drop.

Nothing really matters except the Fed's announcement tomorrow. That announcement will be no change, I think. I see a less than a 0.00000000000000000000000001% chance of them doing the token taper (the one they will reverse when they increase next year, again, in my opinion). That miniscule chance exists, in my mind, only because perhaps Bern-psycho wants to go out 'tapering' so he can say when he left, taper was in progress. Then they upped it, the whole thing blew up, and if they'd stayed on his correct tapering course, things would have been fine. But, if he tapers, and the market sells into Xmas and year end, and he ruins bonuses and makes Xmas unhappy for all those elites, he won't go out looking good. I can't see him doing that. But, alas, I think if he did announce a small taper, the market would rally (and perhaps he may announce a taper along with an order to buy hard if even one contract is sold on the news). If he announces none it should rally. But, the character feels a bit different, so maybe something has started already. Otherwise my expectation is the move into January, the one every last person on the planet says will happen...

iwm at bear abcd in the kz.....needs a retest of lower area.....no taper, market sells off and gives a retest buy late tomorrow or early thursday

I don't comment on specific trades I may be in, but let me say if I were going to comment on a setup, I'd say being long off that GZ there at the end of the regular session is looking like something I could really get behind.

The nice thing is that even if this push here is all it does, it's moved enough to be in a nice situation (from a management/stop adjustment/read the market point of view), and if they decide to gun it up into the meeting from here, great.

I'm not sure if this pullback is over or they are going to make one more push to violate TL.

Originally posted by jimkane

I know everyone is gone, but just one more comment. These guys are just too funny. They gun it up in the short Friday after regular futures close session, and take out the HOD by one tick. Same old, same old. Like I said, it doesn't matter how much they made it look like it could roll over, it was pretty likely, I felt, that they would follow the same pattern they keep following. Another new all-time high, closing essentially at the high. Nothing ever changes with these maniacs, and until the system completely implodes (something I'm starting to think won't happen until long after I'm gone), I can't see it changing.

Jim,

Thank you for your great commentary!

Al Kamego