Red

$DJI – DIA containment pt. dancing
http://www.flickr.com/photos/47091634@N04/44257…

Out of TZA

I don't know. I prefer up into Sundancer's containment points on the RUT and XLF and then a massive move down. But I don't think I'll get that lucky!

It's been a sleepy day — could be a big move right before the close. Down would be good.

The day is not over Earl. Think we will have a sell off eod.

SC,

I don't exactly follow his trades. I have my own. When we disagree, I generally try to figure out if maybe I made a mistake.

This morning I was trading TZA, and he came out with lower estimates — a good match. Hasn't worked out well for either of us 🙂

Becareful in following Carl's trades. I have seen him getting stopped out trades after trades, day after day. This is not a demerit on him. Carl just does his things. lol Apparently he does it well, over time.

Yes, that it will be interesting to watch.

SC,

I really thought Carl was onto something with his lower range estimate, but then he went long.

Mental note: until Carl puts on a trade, don't take the estimates too seriously.

All sorts of signs that a decline is coming. Just need a real decline 🙂

FWIW, i tend to agree with Carl on this one. 1120-1125 (SPX) But I am not detecting any material money outflow yet. Data showing some minor outflow. It may turn into something more material. But nothing yet.

Everything looks ripe for a decline. The potential is there. Just waiting for 'the East wind', as the Chinese General in the movie Red Cliff says.