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The guy that asked for an EMERGENCY hearing by the Supreme Court and was turned down, a Mr. Leo Donofrio of New Jersey was not only challenging Obama's citizenship, but also that of McCain's ( who was born at a Naval Air Station in the Panama Canal ) and the Social Labor Party candidate, Roger...

First leg up off the lows in November was 155 SPX points. A .618 of that added to last week's low at 818.41 targets: 914.21 Got to 918.57 yesterday. 916.26 today before selling off. NOTE: Still have the upcoming Bradley Siderograph Cycle coming up on Dec. 14th...

Crude now -$1.60 and tanking into the NYMEX close. ( $42.05 ) The mining, metal, commodity, and energy names are collapsing. They were providing good LEADERSHIP earlier this morning. Looks like no one liked the ZERO percent yield on the 4-week T bill auction! 4.2 bid to cover too! :eek:

5 waves down into 89.50 SPY?

Market breaking to the downside now at 1:15PM Eastern with the SPY under 90.50 :eek:

Just rallied $2.50 from the mid-morning low back up to NEW HIGHS for the move at 38.90 This stock has been a MONSTER today. A total freight-train that just doesn't stop once it gets a bid. Spoos drop 5-6 handles, and "X" declines a whole dime. Lots of shorts "trapped" today. Great...

Crude just fell -$1.10 to $42.60 and is taking the OIH and metals and mining sector with it.

The amount of stocks now trading above their 5 and 10-day moving averages is increasing pretty dramatically given the rally since last Friday afternoon. This is yet another great indicator, in my mind. Something to also track as well.

The OIH is +5.7% in the first hour of trading and the KOL is +4.3% as well. These stocks are SURGING on top of YESTERDAY'S gains and many have chart patterns that are bottoming, technically. :cool:

OIH and the KOL surging again today. Portfolio managers and traders continue to push this group higher off of several double-bottom formations. Great trading group! :)

Crude oil is totally FLAT, but that isn't keeping traders and fund managers from nibbling once again on the OIH which is +3.5% after the first 30 minutes of the session.

Ouch! I guess you must have taken the advice of S2007S on last Friday when he told everyone to "fade" the rally using no stops . . . http://www.elitetrader.com/vb/showthread.php?s=&threadid=147089&perpage=6&pagenumber=1 :D

Not sure where you get this data from as the Wall Street Journal shows NYSE new 52 week highs at (10) and new lows at (24) for Monday, Dec. 8th. Last Friday, we were at (4) for new highs and (175) new lows. That is quite an IMPROVEMENT over last Friday...

The defense stocks ( namely LMT, LLL, and GD ) are a screaming BUY here! GD and particularly LLL have the least amount of pension plan expense "headwind".

The Texas Instruments and Fed-Ex earnings guidance disappointment that came out after the close should be an interesting "test" for the market. If we can still rally on bad news, .786 on the SPX would target 950.00

Excellent insight Scriabinop. You are one of the few on ET that can actually turn their brains on and evaluate a given situation. I enjoy your posts!

As part of the infra-structure projects of the new Administration, they should build 2 MORE SPR's and load them up at these current prices.

Natty acts absolutely horrible with much colder temps coming into the upper midwest by midweek. Traded down to 5.485 today on the weaker industrial demand news of Dow Chemical shutting down plants. http://www.bloomberg.com/apps/news?pid=20601072&sid=a.moabuuxcdo :eek:

Coincidentally, I just received a Dell E2209 widescreen monitor today. Still in the box. I'll let you know how it performs once I hook it up to my Dell T3400 Precision. Paid $205 for it NEW. :)

Just traded 92.00 in the SPY at 3PM. Been rallying for 1.5 hours. Stay tuned. :)