Are we going to get...

...some "emergency" meeting this weekend that will announce "market liquidity" measures and catch the market by "surprise" Monday? The reason I ask is that this was a recurring theme in the panic of 2008 and the weekend after the flash crash. That usually seems to be in the playbook. Or do they just stay quiet because they have a meeting Tuesday anyway? Or maybe it comes from the Japanese or Europeans? I don't think government officials will stay silent this weekend...."they" must be panicking given what's happening in Europe. I think today is the craziest day since some in October 2008. We have traveled several weeks of Dow points up and down in about 3 hours.

Or maybe we already got it with the ECB announcement in the heart of the panic selloff?

Who's behind the massive snap up in the last few minutes? I'm getting dizzy!

Who's behind the massive snap up in the last few minutes? I'm getting dizzy!

The ECB said they would buy Spanish and Italian debt and the short covering went crazy. This is the second 35+ point rally in the past 5 hours. Let's see if this one sticks...the first one got dumped for another 60 points lower.

Still holding calls from cash 1202 and 1246. This is the environment I need...high VIX and government officials "doing something" that will cause a massive short squeeze and let me dump calls into high volatility.

But if this move also fails and we break today's low in the next few hours...well then I have no downside targets until 1130. And then a move within days to 1040. "They" need to save this right now or it could turn into perhaps the biggest crash in US history.

Who's behind the massive snap up in the last few minutes? I'm getting dizzy!

It's just market physics...nothing to worry about.

Fib

Was up 10% for the day now I am flat, it is irritating!

Was up 10% for the day now I am flat, it is irritating!

Here's an analogy for you:

You're standing on a balcony of a two story house, and while holding a slinky, you let one end go over the side while holding the other end. The slinky will fall to the first floor with a great deal of momentum, but once it's stretched (over extended) as far as it will go, it snaps back with just as much momentum, and then moves down again with a lower momentum, then up again until it finally finds a happy medium between your hand and the floor of the first story.

This is what happens when the market moves too fast for prices to catch up with it , so you should expect this kind of action until sometime next week where we will, once again, find balance.

Not for the faint of heart or small pockets...you have to nimble or just watch from the sidelines until you get the set up you seek from where to make your next trade.

Fib

Was up 10% for the day now I am flat, it is irritating!

Here's an analogy for you:

You're standing on a balcony of a two story house, and while holding a slinky, you let one end go over the side while holding the other end. The slinky will fall to the first floor with a great deal of momentum, but once it's stretched (over extended) as far as it will go, it snaps back with just as much momentum, and then moves down again with a lower momentum, then up again until it finally finds a happy medium between your hand and the floor of the first story.

This is what happens when the market moves too fast for prices to catch up with it , so you should expect this kind of action until sometime next week where we will, once again, find balance.

Not for the faint of heart or small pockets...you have to nimble or just watch from the sidelines until you get the set up you seek from where to make your next trade.

Fib

Fib, you always have a beautiful way of putting things into the right context...I for one greatly appreciate your work..cheers

does anyone care to take a look at Chesapeake energy and tell me what ya think? i went a little long at 31, will buy some lower if it goes down more...any thoughts are grateful...cheers