The Pound is just below a huge area at 1.5260.



If it is not going to spend too much time on correction, the next level up is around 1.5370.

Trannies are officially in a bear market now. Anyone even remember Dow Theory?

http://www.zerohedge.com/news/2015-12-14/trannies-trounced-20-month-lows-enter-bear-market

That be the one. You know if it has anything market in it I'm gonna watch it.

Originally posted by MarcinO

I had to google it. I enjoyed that movie with Will Smith, if that's what you mean.

Originally posted by jimkane

34.53 on crude before the monster reaction. Should I call it good enough and say I fully got my area? I'm thinking I need to say that's good enough, as far as my happyness (spelled that way on purpose, anyone get the reference?). I'm hoping for the deep test into the area, or even the 20-something handle, but in terms of saying I'm satisfied 'it did it', I'm there.

From the article below. Note that if junk keeps selling and this reconverges based on the ES dropping, this implies the ES around 1,000-1,100, maybe lower if it takes awhile. Regardless, a lot, lot lower. But, the ES is most likely to more than double from here according to Armstrong. Imagine the divergence then!

Originally posted by jimkane

Very good article (in my opinion) on the usual Goldman Sucks propaganda.

http://www.zerohedge.com/news/2015-12-14/why-stocks-have-so-far-ignored-carnage-credit-goldmans-five-reasons

It's all so odd. All my gut says that this has topped, it's done. Just like in 2000 and 2007, this is where I'm looking to take shots. Every technical and 'sentiment' read I can get says it's done. I could see another new high, but I still see the odds much lower that it does set a new high vs. it's already done. Now, with that said, Armstrong's more than doubler from here echos in the background. I can see that if everything (like sovereign debt) melts down and money has to go somewhere.

I guess if they double it from here, and the stuff I have been showing in here goes off the charts crazy, to levels not even imaginable (like the spreads on the last chart, or any of these things I show) it will still be less crazy than it was during tulipmania. And even if it wasn't, who is to say the biggest bubbles blown to date must be the biggest for all remaining history? Who's to say tulipmania won't ever be exceeded? Maybe it will. So, a doubler or even tripler from here is really no big deal.

The moral of this story is that if times were 'normal' and I had to bet, I'd bet the farm this is done. In today's world, the best I could figure it it's maybe 51/49 it's done, barely better than a coin flip guess. We are in unprecedented times, and it's hard to get a read on something that's never before been seen throughout all of history. Yes, as Armstrong has shown, this really is just following the path of history, repeated more times than I can count, but the specifics are new given the technology we now have, and the fact that the scope is worldwide (and the population is so much larger), so the details of this are unprecedented. The final outcome, though, 100% predictable and 100% the same as every other time in history.


http://www.zerohedge.com/news/2015-12-14/get-high-or-else

I'm long the Pound, but given how many overlapping swings it does, I'm not going to drop down to lower timeframes to trade shorter moves.
1.5260 area is still a valid posibility, I guess.

However, it's high time for the Pound to break out of range, in which it has been staying today..

Again.... Fake out to the upside, and now downside I guess. 1.5120 is a nice support level.

1.5080 is next level. If this is a support it may trick a lot of pepole in, by imitating H&S.

It usually pays for me to follow my gut read on things...

Originally posted by jimkane

I want to short it (soooooooooo badly), and will be looking for the slightest weakness to consider pouncing, but with the attitude of not marrying the position, and being ready to turn on a dime. Otherwise, it's ride until this thing breaks, and keep leaning on the long side until proven 'wrong'.

Originally posted by jimkane

I just want to short it right here sooooooo badly...