A Full Moon

Everyone awaited the FEDS to tell us what we all knew they would tell us. The market was so flat until 1:30 p.m.

Traders easily bought the October490Put as low as 2.35 and could have sold to 3.50. Existing holders still hold.

Call traders on the October510C could only buy slightly below prior day close, if they bought, and gain $1.50 per contract.
The upside was very short, and immediately began decline, allow put profits.

The Dow has now hit the theoretical 10,847 and the low of 10,675 despite the market feeling yesterday as if it had not moved.

We closed right dead on with our Fibonnaci re-tracement.

Certainly the market is oversold but there is a strong possibility of a run to 10,950, before a potential drop, if we are following recent history, there could be as much as a 584 point
downside, near 10,366. If there is a downside it will be in stages, and may not be as dramatic as our typical whipsaw, as the market remains bullish.

I'm more sold that the NASDAQ will continue its run while the Dow and S &P 500 may begin to crack.

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It's a full moon tomorrow. This is meaningful to astrology chartists, usually predicting a rally.

But I'm alive, I'm sickened again, shaking my head, ready to move to Canada.....

You must read this. Matt Taibbi has done it again. Masterful journalism and expose.

http://www.rollingstone.com/politics/news/17390/204277