Futures are FLYING this morning, DOW up about 42 points, as Europe has solved ALL their problems, and the BOOM years are back in China, as their PMI came in over 50 for the first time in seven months, sub 50 is recessionary while over 50 is in expansion, it came in at a WHOOPING 50.5, and Chinese traders celebrated by taking the Hang Seng Index DOWN 1.2%, hahahahahahahahahaha, more than enough reasons for our markets to be higher.
The NasDOG index is up 14 points, you can barely see it on the one hour chart at the bottom, the daily chart at the top is showing the virtually uninterrupted rise back to the neck line of the previous head and shoulders "area", PERSONALLY, meaning, ME, MYSELF, and IRENE, would probably consider a short UNDER the lows made Friday and Thursday, there's no particular reason to short it, other than pure orneriness.
I was watching Jim O'neil of Goldman on squawk box, as they upgraded DELL, MLM, and some others, OBVIOUSLY, upgrading stocks that they LOADED up on Friday so they can sell into the dumb ass retails today, and he was talking about how the markets will FORCE the hands of the idiots in DC to reach a deal and avoid the "CLIFF", and I was thinking to myself, hhhhhmmmmmmm, let me get this straight, the markets are FORCING the hands of DC by, GOING HIGHER????? Hell, all they are doing is ENCOURAGING THE BASTARDS!!!!!!!!!!!
Just a "personal" note, meaning I'm just talking about ME, I won't be buying Alkie, AA, or ANY of those things on a GAP UP this morning, I'll wait for a better pull back entry, I mean, Ya Ya Ya Ya Ya, they could gap up and just keep going higher, wad ever, they'll go with out ME!
If you are in the NasDOGS, I'd hold on, a move over $66 "probably" opens the door to $68. AAAAAAAHHHHHHHHHH..........HAH! NOW, I see why Europe is FLYING this morning:
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“Discovered” internet in 1993 after Gore invented it, started using a sector rotation strategy I found in my Fidelity Select IRA accounts, opened first stock account in Datek in 1997, basically traded during lunch hour while still running my construction business, joined Toni Hansen’s trading room in 1999.
Went full time in 2001, making a scary break from Toni to go fishing on my own. I was willing to invest in my education and joined a number of other sites for the next five years or so, some but not all was a year with the crew at Trading Markets, which included Larry Conners, John Carter and Kevin Haggerty, spent time off and on in the Pristine Trading rooms, paid for yearly subscriptions at one time or another in Stock Timing.com, Price Headley’s doggie service, Robert McHugh, even worse was Schaeffers place, Bob Olstein, Elliott Wave International, Alan Farley, Breakpoint Trades, Millinium Trading, Charles Kirk, Teresa Lo, Ken Trester, etc etc etc.
I stopped in about 06’, it cost a lot of money BUTT the education was worth it, and with the exception of Headley and Schaeffers I made waaaaaaaay more than I spent, so it was well worth it.
Richard Hargrave, AKA Cuccaa
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