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You couldn't be more wrong. And just what do you think the Dow Jones Oil & Gas Index is my friend? ENERGY STOCKS!!! http://www.djindexes.com/mdsidx/?event=showTotalMarket Did you not see the carnage that was going on in the OIH yesterday afternoon? Key reversal from yesterday's...

Bush will no doubt go down in flames as one of the WORST Presidents that this country has ever had, and his Texas "buddies" Phil Gramm and his wife Wendy will also be held in the same light. It's just been SPEND, SPEND, SPEND for 7 years now and his veto "pen" has been permanently stuck in...

Perhaps you could share with us what levels you needed to see in the S&P yesterday and this morning in order to close out short positions and/or get long? Most aggressive traders I know would not want to go through a 30 handle rally in the S&P - - - especially when it is off of an already...

Remember folks, there was a whole lot of selling going on today in the last 2 hours or so by people that did not want to be around for tomorrow's illiquid shortened session.

OTC Coal Contracts for delivery in Q1 of 2009 that clear via the NYMEX fell 16% today. That's why all the coal stocks got murdered.

Would 5=1 at 1230 SPX to finish off the (3)? A see that a 61.8% of 72.76 ( Wave 1 ) = 44.96 1292.17 - 44.96 = 1247.21

I don't really see any correlation. Meanwhile, Crude is getting squeezed once again in the electronic session ($144.13) as shorts are forced to cover due to the higher 6% margin that goes into effect tomorrow. Who would have thunk? :eek:

Yet another "measured-move" to the downside. Amazing!

Excellent call Mup! :cool:

The OIH just made a key reversal. I know that this might not register with most people on ET cause they don't rade technically, but . . . New highs in a "throw-over" out of a diagonal pattern, and then came back into the "range" under 225.00 which is a very bearish sigh. Now has taken out...

With rails, coal, and steel getting hit - - - someone wants out of the OIH in a bad way too!

Looks like 5 waves down targeting 219.00 right now.

Just did yet another 5 wave move on the 5 minute SPY chart to the downside, with 5=1 at 127.56 SPX just retraced a bit more than 50% of the rally thus far. OIH in a bit of trouble! Just traded down past .618% at 222.80 from yesterday's low to this morning opening highs.

The last counter-trend "bounce" was 1304 - 1335 and was roughly 31.2 handles in the SPX. Add 31.2 to yesterday's low at 1260.68 for a projected target of: 1291.88 Actual High: 1292.17 :)

The last counter-trend "bounce" was roughly 31.25 handles (1304 - 1335) Same thing happened today ( 1260.68 +31.5 ) = 1292.18

OIH "alert" Mup! Now trading a "touch" back under 225.00 and in the range. Let's see if it can get back above 226.50, or make a new high.

I was just thinking the SAME thing Mup! Great Call . . . let's see how it pans out now. Needs to NOT fall back under 225 in order to remain bullish. If it comes back into the "range" we will have to closely monitor this for severe decline potential. :)

That is until margins are raised and it becomes a "liquidation-only" type market like the COMEX did to the Hunt Brothers back in 1980. Throw in a few interest rate hikes by Volcker, and it was all over but the crying. Remember, as of the end of Q1 of this year, $70 BILLION of pension fund...

L-3 Communications (symbol: LLL) is coming out with the L-3 "Guardian" which is an encrypted BlackBerry with all of the bells and whistles! Think that Pentagon, the DoD, the NSA, the CIA, the White House. and other Federal agencies as well as some investment bankers will want one of these? :D

You forgot this guy too. He threw in the towel on U.S. equities last Thursday. Said he could no longer be bullish on stocks, because of the dollar.