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

Madness. Move in gold was insane.

Okay, they are tapering. $5 bil on each, down to $75 bil. What a joke. Now Bern-Qwacke can say he was tapering when he left. When they untaper and things blow up later, he's 'off the hook'. Now that we dipped, I think that was a buyable dip, and up we go. Let's see.

Gotcha, you oinker. It took one having a lot of balls to grab that one, but it was an obvious play, in my eyes.

I missed that one. It hit the area too fast for me to find a confirmation.

Originally posted by jimkane

Gotcha, you oinker. It took one having a lot of balls to grab that one, but it was an obvious play, in my eyes.

You basically have to fade those, or buy the second the tick chart turns, that being the confirmation. It's something I touch on in mentoring work, if the topic comes up.

Market is loving the taper. That play was an insane read on my part. Yes, it was an area, but reading it as a viable play as it turned on the tick chart, that was awesome, in my opinion. Not tooting my own horn, just saying, it was a good read, I think.

This is a key spot here, so I'd be careful.

right at the .618

If they blow this out, watch out.

28.25 off the low, so we know that amount. It's close enough to the 30+. I'm done with my long side bias for this leg.

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