Wednesday, October 3, 2012

Charts 10-03: Gap up

McClellan oscillator for the last 3 days: -52.26, -45.81, -50.06.  A big move is coming.

Today sorted everything out for me.  The brief, rushed penetration of the lower channel bottom marked the end of wave iv.  Today was a very obvious (i) and (ii) of v, with (iii) starting tomorrow morning with a big gap over resistance.  I have a target of 1472 for the move.

Should this play out, then Friday presents an interesting opportunity for riskloves.  If we dip to 1465 early and then rally, reaching our target top at 1480 into the close, and wave (i) ~ (v), then a daytrade of the weekly SPY 147 calls may be a home run.  We will watch for it.

SPX 10-03

Someone bought the Great Books set at Value Village.  I felt good about it because I had found a stray volume -- Karl Marx -- over in the politics / current affairs section, separate from the rest of the set, and I moved it to be with the others.  It would have been a shame if the buyer had missed a volume.

As for great books, I prefer the real, raw thing ...

John Locke 5th edition, 3 vols, 1751 ZOMFG WTF LOLZ

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