Well, it’s done folks – welcome to the USSRA, the United Socialist State Republic of America.
I think this Rammstein clip will get you in the right spirit comrades. Oh, btw – if you have a flag hanging on your porch, please note that there has been a slight change:
For the record (and to preempt you xenophobes), I have nothing against Russians – especially when they look as hot as those gazelles in the video. Yummmiieee!!!!
Oh, and in other news, comrade Denninger was awarded AIM’s 2009 Reed Irvine Award for Grassroots Journalism:
UPDATE 8:28pm EST: I almost forgot today’s Zero [...]
UPDATE 2:20am EST: Well, we’ve been seeing higher highs and higher lows since the open – we filled the gap and have bounced back since then. This chart looks interesting:
While the Spiders are painting what could be interpreted as a bear flag the XLF’s channel is pointing down. Which side will win? I think we’ll know soon.
BTW, yes – this is a chapter of my rare edition book of evil market sorcery.
UPDATE 2:55 pm EST: LOL – we’re really not going anywhere today – feels like I’m spending the day at Six Flags. I’m going to break early for lunch and then kick back – don’t feel like [...]
UPDATE 10:40am EST: We busted a little higher and retested the prior support 741.02 line, just as promised.
As you know I reloaded around 742 and am prepared to hold those suckers even if we close that gap, which also happens to be the 38.2% fib line. Coincidence? I think not.
UPDATE 12:09pm EST: Nice little zigzag you’ve got there!
At this point there’s a good chance the gap will be filled.
UPDATE 12:48pm EST: It seems the NQ is leading the pack again today folks – keep an eye on it if you want to get a feel for where the tape is heading.
UPDATE 1:18pm EST: Bulls are fighting like mad to hold the old 740 line after [...]
UPDATE 9:19am EST: I just got up and checked my ES futures chart, which at the time of me writing this is trading at 734. Even if you factor in the PREM I expect the SPX to open beneath its November 21 low of 741.02.
UPDATE 9:36pm EST: November lows have been breached. Get ready to take partial profits as I expect us to push into Minor 4 of (5) in the near future – could be today, could be tomorrow but it’s good to take some of it off the table.
The gates of hell are open for business. Hey, mouth breathers – remember how I promised you on September 18 that my revenge would be cruel and merciless? I was NOT kidding.