I second that matt & DD, I unloaded a bunch of SPY calls right on 1300+ resistance line you guys drew, awesome!

that could be it - they must be bored looking for fireworks ;-)

yea, and look at volume, specially QQQQ

well, if this demand destruction is for real, or at least majority of players think of it as real, then shippers will be deemed as not having a lot to ship.

The key to all of this commodity thing is two folds,

1. Baltic Dry Index has to start climbing

2. Chinaese Market (SSEC) should show signs of a bottom

that's excellent, thank you for posting it

I second the book recommendation, it is a wonderful read. On trending markets, that is why oscillators can cause more harm if they are taken for signal against the trend. In nicely uptradinf market, overbought readings may stay overbought for a long time, and overbought sell signals may get reversed in matter of days. Oscillators, are, however, very good tools to use to initiate positions in the direction of the trend, even if a signal is premature, the trend will come to rescue

this may be one explanation why PBR shares are lethargic, they were stopped from selling some assets

article

if it is the beginning of anything serious, I'll be watching for a possible formation of an Inv H&S with neckline at the resistance you mentioned. I took partial profit, and now, for me,  it is either a new low, or higher with force. You can clearly see it on 15 min chart of HNU.TO, which I use as proxy, it will be a really nice setup

HNU.TO

I second that idea

Well, smart money is in Hampton, and likely to stay there till next week, which is fine, it has given us some tading ranges to have fun

Yes, but seasonality may play a role in it, as well as oil to gas ratio and utility switch overs from oil. On the charts, it looks sold out rather than oversold, but technical imbalance can easily get corrected without price doing much.

"just a reminder when posting charts to post them to a new window, so they don't replace the blog"

I don't know how to do  that when I only place a URL of a chart

Nat Gas near month future did a reversal yesterday, if it holds, and maybe advances, some late shorts will be squeezed very nicely. From an Elliott Wave point of view, Nat Gas seems to have completed a A wave decline, setting onto a B wave counter trend rally, regardless it looks really good on the chart at this moment

http://stockcharts.com/h-sc/ui?s=GDX&p=15&yr=0&mn=0&dy=11&id=p70453276284&a=132280492&listNum=18

Hi matt,

when you take a trade based on 60 period stock signal, do you ever consider that signal invalidated due to a reversal,
e.g.

1. if you go long on a cross above 20%, will you close position if it closes below 20% without reaching 50%

2. if you take a trade based on cross of 50%, will you close it if it crosses again in opposite direction without reaching extreme levels?

yes, it really feels like a 1-2-i-ii on SPX and the DOW, however, lack of volume is makes all moves look suspect

so far so good, I am trading in & out to accumulate for a longer hold

DOC, I have been hearing you loud and clear, THX 

Volatilty makes for great trades on nice setups, but the longer picture is so far so good

on a contrarian note, can we look at all this public interest in physical metal as just too many retail bulls out there in the world?