Kickin' it off.

ES at the top of 80's area.

uso and spy about to turn in here is my feeling, basis spy 208.65 and uso 15.95

Let's see if this is the 'retest' here, or if they close on a new LOD. I have a lot of stuff here at this 69.75 LOD. But, when they don't want it, they don't want it. All I care about is that wonderful run down today, the ultimate gift from the trading gods. What it does in the last half hour of the week I'm not so concerned about (from a very short-term trading perspective).

But I guess if I had my way they'd kill it. Normally I'd say bounce so we get a good setup for the next trade, otherwise it just sells itself right out and up it goes. Now, though, I've kind of had it with the 'bulls' and I just want this thing killed and the 'bulls' destroyed. Not sent to the hamburger farm; just obliterated. So much so that even an ant couldn't scrape up a small meal from what's left of them.

I think that is it for now, though, unless we get some wild sell into the close thing. I think the odds are about 90% that that's it for now.

It's probably just 'chop' off the low, but it did do a nice push off the 'retest', then a little ABCD, and now another push. This puts in a standard/flat ABCD hybrid, right at cash close. Now we see, into the futures close. They love to close it with something key right there. Sunday is gonna be fun, I think.

Gold is getting close(r). I'm starting to see hate articles and capitulation, and now, for the first time in history, hedge funds are net short gold. I have a key area in the 800's, and one in the 600's. I'd like to see the lower one, but can't imagine it getting there unless we have a few down 100+ days to really destroy them. I can see a person being a good-sized buyer of physical gold at those prices.

The issue, though, is the spread may be huge, the supply extremely low, and this is a play for protection against government meltdown, not inflation (gold is a very poor hedge against 'inflation'), so if the goob-er-mint does melt down (something that I think the certainty is 100%, not 99.9999%), they will outlaw it (confiscate it, like they did before), or tax any transaction at 110%. (Literally. I mean buy at item for $100 and owe the goob-er-mint $110. And since this really only takes just over half your money, they might tax it at 1,000%, hence a $100 purchase would owe $1,000 tax.) But, it's hard to not think about some 'insurance' if the price is in the 600's...

Okay, the ES is 'finishing strong', taking out that ABCD. It could still be a DB ABCD, but it's looking like it's rise time. Gap and go on Sunday, setting up the next wave down, that's my highest probability scenario. 2100 area would be awesome, but I'm not seeing it get that high. You never know, though, 'they' (the central banks around the world) could decide to buy like the madmen they are, and we see that crazy straight up a hundred points nonsense.

ES still rising in the little Friday 'after futures close' session.