10am update - opening weakness

Equities open moderately lower, but certainly, this is nothing for the bears to get excited about. Market is holding comfortably together, and with very heavy QE in the rest of this week, there will be very significant underlying upside pressure. Metals are failing to bounce..so far.


sp'60min

RIG, daily

Summary

You can probably feel the year starting to wind down now. That end of year feeling...is most definately out there.
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*I'm considering a RIG -long, trade. There is near term downside to the 48s, but upside is the 60s in early 2014.

update.. LONG RIG, from $50.  Seeking 52/53..near term..might bail there, but seeking 60s as a bigger target.
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10.24am.. bears struggling..and with heavy QE later today..who would bet against a close in the sp'1800s?

The maniacs on clown finance TV remain bizarrely lacking any arrogance when it comes to the market. They sure won't be getting hyper until the next top...ironically.
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10.27am... TSLA ramping...upside...160..where there is also an obvious downside gap.

Regardless, I'd see the 50 day MA at 160 as a re-short zone.