We Can Do It!

12:30pm EDT: I just occurred to me that the script for this week’s tape was written by Mel Brooks:

Come on bulltarts – you can DO IT!! 🙂

12:45pm EDT: Per popular request:

Spring time for Bernanke?

Prediction: By the time we touch 400 on the SPX someone is going to write a hugely successful play on Greenspan, Bernanke, and Wall Street’s boundless avarice.

1:31pm EDT: We keep losing avg volume on the DJI:

Got to love hate these bear market rrrrrrrallliieeeessss…..

1:37pm EDT: Ht tip to Tyler Durden over at ZeroHedge:

I actually have that CD in my car – anyway, it’s nice to watch this thing play out in time-lape – it’s quite obvious that this was unsustainable.

2:00pm EDT: I know many of you rats are waiting for a weakness and a hard drop after today’s run up. And again, I would recommend you heed caution – it’s OPX week and o.i. on the SPY Jul option chain has not changes since Sunday:

Remember, that’s where participants expect it to close, so I think we have a good chance to see them make a run for 912.

And in other news: I learned how to open a pair of handcuffs with a paperclip – was practicing all Saturday. You never know where that’ll come handy, especially with Annamall and Keirsten around 😉

3:28pm EDT: It’s almost 3:30pm and things should accelerate nicely into the close – either up or down. After such a long run I’d usually bet on the downside but I’m suspicious today: We have been consolidating down on the MAC and stochastics in the past few hours – so we are not short term overbought anymore. Even if we drop into a B wave here I have a feeling we’ll complete the C wave around 912 later this week. For the record – I just looked at my chart and it seems that we already completed an a-b-c pattern since last week. So, I’m really split here – but have decided to not force a low degree count at this point. Need to see what happens now.