Morning

... I'm in a crapy mood for some reason, not sure I should trade. Big down morning.... I say we get a solid bounce... then probably sell off into the close... maybe the down move ends monday morning... people will be too spooked to hold stock into monday.









I just put some orders in... just some rediculous prices for some stock... in case they hit.... I never get going short right off the bat on a big down futures morning.... seems like a good way to get your head cut off..

daily SPY.... This is what I'm seeing in the old Elliot waves... We are in a wave 4 correction. 137.50 on the SPY is a 50% retrace of the last upmove.. and we will probably get a wave 5.... into the 1450's.... I say this ends with the XLF at 29... The move up.... For all the bullshit on the TV about AIG... the futures are about OIL..... Oil must Trade down for the market to make this move.... The market isnt' as stupid as CNBC.... we know that more dollars into oil means less dollers into everything else. $4.00 gas is in the cards.... it's $5.00 we are struggling with now.

20 day SPX.... I ran that chart with a downside 5 leg move ABC correction ending at 137.50... The green move shows the 5 leg upmove... then the red shows it as an ABC correction..

It's 8:30 eastern and we should get an upmove in oil.... I'm curious how that will go.