I've been meaning to tell you that I hear from Park every once in a while. Park is good. The Rathole adventure continues and moving day is soon. Park ain't renting no storage units.
Charts. I liked what the market had to say but you'll have to pull up your own. What's to like:
(1) The $SPX not only held 1090 by the end of the day, it improved on it a bit after the test and it did so on pretty good volume. You have to like that.
(2) The financials led all day long. They were up good early. They stayed up when the market was down and they finished strong to lead the market a little higher. I will take that kind of day any time.
I ain't holding out much hope for a big run, however. If this thing gathers just a bit of steam, I think it will still run into stiff resistance at 1111. ( It looks like a prime number but it isn't. It's also divisible by 11 which one should have been able to guess because 1100 +, etc.) Played a nice nine in the rain today after seeing my wife in hospital. Mrs. Dane is finally on the mend after the US medical system did its level best to kill her. The one hour and twenty minutes of golf was perfect--just me, 14,000 Canada Geese and the golf course.
Peter the new Willie was the 750.34 $RIFIN. That coincided with the 68.15 or so FAS. Mr $VIX broke through the 22.32 at the same time. I was run off so Im not gonna fool with it. Its cold today but I will go work on my blind for awhile.
Here comes the 751.12 $RIFIN again. FAS should be oversold on the Willie somewhere around in here close to the 69.40 again. I have a little left so Im gonna add if we hit the $RIFIN Willie and sell some of my FAZ. If I am wrong I expect we are in store for quite a sell off.
The gap fill on Mr $VIX is the 21.20. I quess he could turn into a trouble maker there. I will go out on a limb with a gut feeling and say I expect him to give up the ghost after a little tussle down there. If they let the $BKX break the 41.60 or so it could feasably head back down to the 38 or so. I think he is too oversold at the moment to do that but if he does Mr Market could be in a heap of trouble.
Some people in my area use mesquite for flooring and furniture. It is a beautiful hard wood but grows crooked so most furniture is is of western motif. It is an excellent wood to burn if you have a stove but burns to hot for a lot of modern fire places. I cut and burn about a cord a year. There has been some talk of using it in biomass plants as there are thousands of acres of this junk tree free for the taking. Most ranchers would pay to have it removed from their property. I kill hundreds of these trees yearly with an on going plan to clear pastures. They are a real pain in the butt and every farm implement I own has to have sealant put in the tires because of the thorns these thing have.
I don't have an enormous amount of optimism about C but I am buying it right now. $3.16 or so will be defended for a bit and at that number C is very, very beat up.
Knife catcher's anonymous meeting is in an hour so I have to get rolling.
I should again mention Mr $VIX hit the oversold indicator yesterday at the 20.45 or so. Alot of divergence events going on between the Buck $VIX and Oil so its hard to get a handle on which way things might turn out.
$WTIC chart shows resistence at the 20dma and bolinger band centerline for the last little while. He has room to run from the two week overbought perspective as Mr Buck is getting long in the tooth in here and rather oversold on some indicators. I quess the dollar could hit the 70RSI but he might pull back to the 50line and test his new support since he crossed north of the tracks.