Starting it off. I'm expecting another insane week, as we sit on the edge of the whole house of cards giving way. This year, and the next say five years, are still going to be remembered a thousand years from now, I believe.

Time to head on up.

They rushed it up a little, to get 'believers' like me to think they were going to do it, but it faded right off. See, my new epiphany is holding. When I see this near 100% sure thing, the big up day, the key high to take out, then another key high nearby, they seem to push right up to the second one aggressively, make it look ready to take it, then they hold off. It seems to be happening every time, pretty much. It gives me a lot to work with, as far as what it may do when that scenario is there and it starts to rise. Just some thoughts.

Here's some fun stuff. Woo-hoo Dow 43,000! Buy, buy, buy.

"...since Mario Draghi's "whatever it takes" speech in July 2012, European equity prices are up 50% even as corporate earnings have actually declined by 7%!"

"So what is going on in Europe? Nothing short of the biggest multiple expansion episode in history."

"...making Europe the most expensive developed market on a PE-multiple basis in the entire world."


Source: http://www.zerohedge.com/news/2015-01-22/here-driver-behind-european-stock-surge-hint-not-earnings

Although I recognize strength, and don't fight trends, I also like countertrend when the time is right. Point is, I can't see anything but short on this right now for the 'better prices' as they prep to take out that big high. And if it dumps, all the better, but the odds are low on that. We'll see. This is, as I usually caveat, only for the very nimble, very highly skilled to even look at (no claims about my own skills, I'm just sayin'...). Let me wrap up with a quote, as best as I remember it, from 'Jack' at Jack in the Box. I know if I can't recall it exactly then technically it's a paraphrase not a quote, but who cares. "The best thing about owning your own business is that you get to try every crazy idea that you come up with." Understand, I am not saying if one owns a trading business I think it's great to try crazy trades, only that if you have an idea, and most think it's crazy, one can, as the business owner, do it anyway if one feels it's a good idea.

There's the new high for the move. Sweet. The short didn't play out, as I suspected it wouldn't, but it was irresistible, in my opinion. Less than two points now from that monster swing-high. I expect we'll finish the week solid, close but probably not at new all-time highs. I think they'll 'save' that for Sunday night/Monday, but, you never know. Regardless, I suspect another 'easy money' day for skilled traders. This has to be amongst the easiest market for skilled traders I recall. If not the easiest, then in the top three.

Hit the monster swing-high to the tick...

No posts again today. Oh, well, yesterday was a good day for that. So, they brought it in off the monster high to the tick, then up and over by two ticks on the next thrust, doing the sweep, as expected. Then the checkback for better prices I was looking for earlier happened. I should have known they wouldn't bring it in until after they swept that high out. Now it looks to be getting ready to move into the Friday close. My view is long until close. We'll see.

My 'best case' is only around 70, I'm not expecting anything crazy. But they are either doing a big shakeout here (disproportional) of the high for the move here (and RTH HOD), or my assessment is incorrect.

agree

Originally posted by jimkane

Now it looks to be getting ready to move into the Friday close. My view is long until close. We'll see.

the low last Friday caught me looking the other way, but it was classic. Once this completes somewhere in the red fib box .786 - .886, I would look for a pullback to test lower line of blue set before a launch up to 152 area

It's now at an ABCD in a KZ. We'll see.