I Can Has Rodetrip

Ha, don't even ask about the NFP number. I haven't got a clue and do not care. Woke up, saw the ES in a tight overnight range, and started reading stuff from Twitter. All I care about is that the ES broke above 1362 after the number was released, backtested 61.25, and looks like it's trying to make up its mind.

The S&P closed at 1365.91, just ticks below the 1365.96 high mentioned yesterday. If the market continues higher today, I have a Fibonacci target at 1387.96 projected using the 1300.49 low from 1/30, the 1378.04 high from 2/29, and the 1340.03 low from 3/6 (sorry no chart). This target intersects with some converging trend lines and would make a beautiful top.

If the rally fizzles (it totally can), I'm still looking at 1330.

I got long yesterday (SSO) as soon as the market let me in after it proved to me that the pattern since 2/29 was corrective. I had a quick gain on that position and hedged it with SPY 137 puts. When the market gave me a quick gain on those, I trimmed them. I'm content to let the market do what it wants to do. I need to start packing for the next road trip.

This is going to be another big one like the trip from the summer of 2010. Chicago, Memphis, back to Georgia, down to Florida for a break and some sun, then over to Austin again, then out to Scottsdale. After that, who knows. I get to go back to Scottsdale to do some cat sitting because my cousins' cat is very shy but likes me. Probably because I like cats.

Someone posted this photo from I Can Has Cheezburger fame several weeks ago on Twitter and I can't stop looking at it. It makes my day each time, and keeps me in a playful, right-brain mode. Thank you to whomever posted it. It's changed my life (haha).



Uh, sorry for the language.