I Agree! Lot's of detail.

AA seems to fit your scenario too. Long base and vol surge.

Placing stops depends on your style and risk tolerance. I tend to limit my losses and place tight stops at entry. If I'm wrong, so be it, sell for a small loss and move on. There's always another trade. The best risk management, is a good entry to the trade. Once the trade moves in my direction, I look to take profits at logical points; like new highs/or lows (based on the timeframe I'm trading), Fib retracements, indicator crosses, or just % gain. As the price reaches a target, I'll place a trailing stop with a small margin (.10 to .25 cents). That way, if the price is still running, I may capture more upside without giving up much of the gain. I always move my hard stops up from entry to, again, limit downside. Find something you're comfortable with, refine, then stick with it.    

2.5% pop in the last 1/2 hr.At this level, looks like shorts don't want to take on any "event risk" going into the weekend.

The 50% Fib retracement from the Nov low to the Jan high comes in around SPX 842. That should find support.

So is it just me or does it seem like Bush doesn't have a clue what he's talking about when he goes on about the markets and the financial crisis?  He just has that blank look in his eyes.

When he sits in on that summit to discuss world finances, I'm sure his 'handelers' are just an earpiece away tutoring him on Finance 101.

I'm still in for the ride. Almost was stopped out this a.m., but held on. Looking for about 119 then about 133. With stops at 106.

UnReal!!! Up 26% today. That's playing catch up pretty quick!! Looks like some resistance at the daily 50 sma around 117. But sto's and MACD on the daily turning up with good vol. A push to the fib 50 from the recent low takes it to about 133. Looks like a good place for some profit taking. (long at 93).

So is this paint ever going to dry?

What's everyone's bias on how this is going to settle out today/this week? The S&P 5min is forming a somewhat rare Diamond Pattern...so it would appear that the fight between bulls and bears will continue until it's worked out. 

looks like DIG filled that gap from 10/21 at 33.63.

Using Fibs on a 5min, as you indicated, SKF and SMN bounced right on the 61.8% retrace from the gap up. You gotta love those numbers. I used that to buy back in to positions sold yesterday.

Matt, are you using DIA, DXD or DDM to trade off the Dow signal? Also, does it work the same looking at the DIA?

From Briefing earlier...

Research In Motion: Hearing RIMMdowngraded at First Global to Market Perform (59.01 )

I'm with you rp, I subscribed to Wavespeak for a time. Learned a lot about wave theory, but was frustrated by the 'recounts'. Just when you thought it was OK to trade off a completed wave pattern, it's violated and subject to change. I like it for the very long term (really liked seeing the SuperCycle count) but not the short.

Europe held on to their gains.

European Markets Closing Prices: FTSE: 4210.9 +278.9 +7.1%, DAX: 5034.4 +490.1 +10.8%, CAC: 3484.0 +307.5 +9.7%

Wouldn't it  be a crack up if Bush came out like Cramer, pounding the table and yelling "You gotta buy this market...this is your big shot". Then he starts throwing out names. I for one would respect him more for doing that than coming out with the same retoric.

Q's holding after test of support (S1 37.20). In QLD for bounce into close with tight stop below recent low.

Many a hammer being formed on daily's. VRSN, NSC, PCLN, XOM, GS, PBR, RIMM, UA, OSTK

VIX hits all time high at 46.28. Volitility reigns!!