Kickin' it off. It's going to get wild. This week is Armstrong's 'Big Bang' date, mentioned at least as early as 1989 in one of his conferences, he said. It's not a date for a market implosion, it's the peak date for government and sovereign debt. Catalonia voted today for independence, a binding vote. The last one was not binding. It was overwhelmingly for secession.
I can find no information on this vote anywhere right now, yet it's over and done. Nothing on ZeroHedge. I find this bizarre. Understand, if any EU country has a secession, it will, in my opinion, begin a waterfall breakup of the EU and the failing of the Euro currency. So, tanks will roll, it will be stopped. But, it may cause massive unrest and even a European war. Markets will move. Hence, this is not a trivial event today. Yet, nothing, no reporting anywhere. I'm... confused...
JI
jimkane
Rep: 3,058
Posts: 33,089
High of 42.75 by my data, up 59.75 off the low! Let's hope it can do another leg and fully get it.
JI
jimkane
Rep: 3,058
Posts: 33,089
They did that extra leg! Up 60.75 from the low, by my data (I always say that to avoid an accusation of an 'incorrect claim' (and I don't ever make claims anyway!), since it is based on what I have available). 60+. They just love to play that game. Well, we had over a 100 point range, 105.25, in smooth trends. Nice, average trading day. I suspect this is a start to a monster move up, likely to new all-time highs.
This is interesting because Armstrong says if we close the week under 15970 we would retest the lows. If I understand correctly, taking out those lows indicates a monster 'slingshot move' that would double the indices at a minimum, hence his Dow 43,000 high end target. If they rise from here, that implies a monster bear coming after new highs are set. At least that's my understand. He's not real easy to understand. So, if all this were correct, then I guess I'd rather head on up to new highs now, skip the Dow 43,000 scenario, and get the big bear that's long, long overdue.
For day to day trading it really doesn't matter. For trend traders, a day like today was another huge gift from the trading gods. Sure, I wanted to short the heck out of it, but unless it gives me something I have no choice but to let trend and its play(s) run. Point, again, is that it doesn't matter which scenario it does, Armstrong's or any others, it's all good for trading, in my opinion. I'm just tired of waiting for the destruction these oligarchs/banksters have wrought on us, and the higher they pump up assets the worse it will be. Rents are at all-time highs (I saw an article about a cot mattress under the stairs in London renting for $750/mo plus $100/mo for 'utilities'), median home prices at all-time highs . A slew of full-time government workers in NYC are homeless or in shelters. Mandatory O'Bummer care is rising 60%-90+% this year for many. The longer we wait to rebuild, the worse this is going to be for all of us. Now we are headed for QE4 and NIRP and a ban on cash. Hence, I'd prefer not to just keep pumping this up...
This is interesting because Armstrong says if we close the week under 15970 we would retest the lows. If I understand correctly, taking out those lows indicates a monster 'slingshot move' that would double the indices at a minimum, hence his Dow 43,000 high end target. If they rise from here, that implies a monster bear coming after new highs are set. At least that's my understand. He's not real easy to understand. So, if all this were correct, then I guess I'd rather head on up to new highs now, skip the Dow 43,000 scenario, and get the big bear that's long, long overdue.
For day to day trading it really doesn't matter. For trend traders, a day like today was another huge gift from the trading gods. Sure, I wanted to short the heck out of it, but unless it gives me something I have no choice but to let trend and its play(s) run. Point, again, is that it doesn't matter which scenario it does, Armstrong's or any others, it's all good for trading, in my opinion. I'm just tired of waiting for the destruction these oligarchs/banksters have wrought on us, and the higher they pump up assets the worse it will be. Rents are at all-time highs (I saw an article about a cot mattress under the stairs in London renting for $750/mo plus $100/mo for 'utilities'), median home prices at all-time highs . A slew of full-time government workers in NYC are homeless or in shelters. Mandatory O'Bummer care is rising 60%-90+% this year for many. The longer we wait to rebuild, the worse this is going to be for all of us. Now we are headed for QE4 and NIRP and a ban on cash. Hence, I'd prefer not to just keep pumping this up...