Screwy

House flipping is back in America, this time on homes from $2 to $5 million.

Meanwhile in London, housing prices jumped 10% in one month.

Not to be outdone, Shanghai housing prices soared 12% in one week.

Google added $35 billion in market capitalization in one day.

Oh, and it's now possible to buy stock in pro athletes. Star running back Arian Foster may IPO soon at $10 per share.

JP Morgan gets fined a record $13 BILLION and Bloomberg calls it a record "deal" on its homepage.

In fact, things are so screwy that unless 1721.76 breaks, I may begin adding to the same SSO position that I've been scaling out of. I've been betting on a large ending diagonal to complete very soon, but if price gets above 1748.86 the diagonal will "break" by diverging instead of converging. In other words. it could morph into a more bullish pattern.

Since I still have a 1778 Fib target, it could cause me to be a reluctant buyer.

There is a gap at 1733.15 that may be filled, but price is showing signs of a melt up. Recent COT data is unavailable, but it sounds like a lot of hedge funds may be caught short.

I've added a little VIX exposure: Nov 19 calls. Watching carefully.