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Hackneyed histrionics


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I have a Fibo at $SPX 1358 and change, but the miners etc are saying to me that this is early impulsive with lasting legs.

 

Impulsive could turn compulsive as bulls hit buy, buy, buy!

 

I'll wait for 1370.

 

Bought calls this morning on Teck Resources, TCK, and sold way too soon. At least I made some money...but.....wow.

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OP/EX might make the moves late today and tomorrow quite insane.....

 

And a 3 day weekend too?

 

Hopefully and one would think with all the bullish calls that market manipulators (I mean makers) would want to push down prices making money on calls and paying the puts. But maybe the money is further up the ladder then we will be stuck in a ramp and camp.

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Hopefully and one would think with all the bullish calls that market manipulators (I mean makers) would want to push down prices making money on calls and paying the puts. But maybe the money is further up the ladder then we will be stuck in a ramp and camp.

Every big volume shakeout makes the bull case stronger,unless we get constant selling pressure.Once again,the weak hands bail and the boys run it straight back up to record levels in minutes.

 

There will be no real sellers until some critical downside levels are taken out,Like a close below 1330....

 

But the bull case is intact unless we close below the 1290-1300 level IMHO.

 

Fat chance,unless Europe completely unravels. :glare:

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Some pretty strong volume on QQQ,bears about to be trampled unless we get a drastic reversal.

 

 

So far the NQ channel has been working. Selling near the top and buying near the bottom has rewarded very well. Sooner or later, the channel will cease to exist, fading into the distance as price data explores new paths. This advance has been very orderly. When price gets to the upper portion of the channel, I will again close out longs (if any) and short; when it gets to the bottom, go long. Do this until it doesn't work anymore.

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