sp'daily
VIX'daily3
Summary
*I'm out, have abandoned all short positions, very large losses, but perhaps even more annoying...its again been a complete waste of my time.
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Congrats bulls...YOU win !
Q. To those who now think we are going to top out in the low sp'1600s
Just why the hell would it stop here?
The Fed ain't going to stop QE next week.
Or next month
Or this year
Or next year
Or the year after
Just how stupid are the bears...not least yours truly?
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Unquestionably, anyone still holding short positions above the recent key high of sp'1597 is not only stupid, reckless, but just plain deluded. Almost as deluded as the bull maniacs who think the underlying economy is still on the 'road to recovery.
So, I'm out of this nonsense.
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Check out the transports...which was the ONLY bearish chart last night, and now that is wrecked..
*I'll remove all the labelling soon, but I wanted to post it before it gets wiped
The break into the 6200s is a VERY decisive bullish breakout
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Trans, monthly...back to 100% bullish.
*Oscar Carboni had a rough target in the low 7000s for the Trans...and right now, there seems no reason why they can't be hit.
Check out Oil..via USO....weekly
A break >35..barely $1 away, would suggest a MASSIVE price up move across the summer.
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10.33am... breakouts...EVERYWHERE.
The notion that this is going to end in the 1620s is shear nonsense..
Ohh, but the EW counters sure will be touting a top this night in the 1620s. Good luck with that!
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A rather simple extrapolation, if Trans 7000s, then sp'1800s...within the next few months.