UMM and DMM are the new housing ETF's, I think 3x.

re: Zimbabwe, I agree, he better start reading up.  Marc Faber had some choice thoughts about that a month ago;
http://www.chartometry.com/?p=18

Cramer just on,  I've never seen him so bullish, drooling on himself about the Fed action and what a genius Bernanke is....  geez, makes me want to fade the rally...

Up further short term, but down again longer term.  That's the way government intervention, the ban on short selling worked out last fall.
Will watch XLF for clues, 50 day MA and downtrend line near 8.81 that is being tested today.  Volume a bit low as someone here pointed out.

Raymond James update;  I just called their main office and a broker confirmed what was said here yesterday about them not allowing buying of leveraged ETF's in client accounts.  If you want to confirm, here's the number;   800-248-8863

You can watch the replay here;
http://www.hulu.com/the-daily-show-with-jon-stewart

Keep us updated if you hear more on that... thanks...

CNBC just trotted out Carter Worth, a widely followed analyst who put forth a bullish view.  That's always good for a pop in the market.  They usually trot him out about 15 minutes before the close and he's been bullish for a while.  Got bullish too early a month or so ago though so his track record has been spotty lately.

Makes sense to me.  Good concise read on the wave count in last night's update, and your target of 740 to 770 wave 4 seems reasonable.  Seems too many folks are expecting much more out of this current bounce and I think it's another bull trap setting up short term.

Some of your best analysis has been on the gold sector Matt, you correctly called the major down move late last fall when the gold bugs got hammered on that relentless selloff in the HUI and GDX etc.

the uptick rule requires shortsellers to short stocks only on an uptick in the stock price.  So it may slow shorting to a minor degree, making it harder to short a stock that is going down rapidly.  I don't think it will have a big impact but it was good for a pop in the market.  Now the government has one less arrow in their quiver to pull out and rescue the market. 

Could be a 4th wave bounce that reverses quickly.  Lot of giddyness all of a sudden as RP noted....

Government may try anything out of desperation like we saw in October and November...  Short funds like SKF could be negatively affected as it was in October when they banned shorting on financial stocks...

Talk of bringing back the shorting only on uptick rule provided the pop to the market the past few minute

down trend line is close.

More bears capitulating.... "Big Bear Market Rally Coming," Says Noted Bear Barry Ritholtz.  Still, the cadre of formerly steadfast bears who are turning bullish, like Doug Kass and Steve Leuthold, continues to add members. On Monday, newsletter writer Mark Faber, of the Gloom, Boom & Doom Report, made a bull call on Bloomberg TV, while veteran technician Richard Suttmeier of ValueEngine.com declared "the next 50% for [the S&P 500] is up, not down."

Makes me think this will may lead to a muted rally and another bull trap, how's the put call ratio looking?

UUP seems to track the move of the dollar in real time percentage wise, here's a link to what looks like a delayed dollar quote.
http://www.321gold.com/charts/092807_usd.html

yeah, they called him the boy plunger, he got wiped out several times...

great book, probably about Jesse Livermore.  He was a tape reader, kind of a pre chartist I guess, combined some intuitive assessments with data flow...

SPX 5 minute breakdown?