Kicking it off.

I know this isn't short-term trading related, but if true, this is something I've predicted for a long time, and will kind of be the beginning of the end. When banks no longer insure deposits, like a long, long time ago, and when a bank 'goes under' you just lose your money, well, that ain't good. Now, in a world where banks do whatever they want and there is zero penalty of any kind, what happens when we give a bank our money and they know they can do whatever they want with it with, no penalty, and we know this, and we know there is no insurance? No way I can have a cent in a bank at that point.

How about the stock market? As a trader, I'll take my retirement savings, what I worked my whole life for, and buy an all-time high in an overextended (time and price) 'bull' market, with the hopes there is a collapsing sovereign debt capital flow into stocks, making them way more than insanely overvalued? And what happens when that is done? Find the next nascent bubble and move into that, ahead of the crowd? For trading, yes, for a nest egg as retirement approaches soon? Hell, no.

How about real estate? No slams intended to anyone, but if you can't see the next leg coming on that one, well, you just don't want to see, then. And even if they did keep inflating it (many places worldwide are at all-time highs, way, way more overvalued then we were in 2006), having retirement money needed to live invested in illiquid properties, in a rapidly rising tax environment and collapsing economy, well, that doesn't seem like a good option. What other possible options are there? I see none...

http://armstrongeconomics.com/2015/04/05/austria-to-default-on-bank-guarantees/

Anyway, seemed like the open was a great buy. We'll see. I'd think they'd want to make it all back ASAFP. If not, that's what stops are for.

This sums it up nicely. Too bad AmeriKans are the biggest sheep on the planet. (I saw a recent worldwide study that showed we were over 200% more optimistic than the next country on the list, and about 400% higher than the average. We were also about the same proportion as far as denying evolution. About 40% of AmeriKans believe evolution is a joke/hoax, a total untruth. Worldwide the number is like 8%. To be an AmeriKan is to be a brainwashed sheep steeped in normalcy bias. Sorry, it's just the way it is. I post this stuff to try to get my crew out of that mode. It's all I can do.) Hence, almost no one will see this as anything but sensationalism and fear-mongering. Yet I lean way more towards the ctrl-alt-del version he discuses than the squeak by and rebuild option, as far as what I think will happen. So, I think the highest odds are a scenario far worse than the average fear-mongering doomsayer. Interesting.

http://armstrongeconomics.com/2015/04/05/trying-to-take-the-next-step-forward-in-economic-evolution/

Interesting, but not uncommon. This post was two minutes after the high (and I started typing it pretty much at the high). It's coming in quite aggressively now. We've seen time and time again by the time I decide to post a comment it's already peaked. Not that I don't post many areas before they are hit, it's just that usually the point where something looks like it's getting going is, by geometric necessity, the first key level. So, all the times I mention it's moving, if the move isn't going to be sustained, I will usually nut it as far as posting just when it's done. It's a useful thing to be aware of.

Originally posted by jimkane

Anyway, seemed like the open was a great buy. We'll see. I'd think they'd want to make it all back ASAFP. If not, that's what stops are for.

And just for sh#$s and giggles, will that post be right at the point where it stops going down, for similar reasons? Very possibly. If this is going to continue up, this is the very point they may pick it up.

And it bounces there. To where? The first little level, and then down. Yawn. It's now wedged in, and has to 'decide' soon.

For those who like to read my posts on this kind of stuff. If you are strictly here for trading posts, just skip these.

http://www.zerohedge.com/news/2015-04-05/americas-warfare-state-revolution

ES long looks well shaken out now, ready to rise. Let's see if that's their intention.

58ish and 65-66 are two levels I am watching. Assuming it gets going, which it may not.

Timing-wise, it's getting close to time for something to happen. I'd strongly prefer a break to the downside on the higher timeframe.

ES closes after a new high for the entire move here in the little extra Friday session. Nominal, but still, it had to take out that RTH high, didn't it.