Tim Knight | Oct 06, 2013 12:26AM ET
Three months ago, I wrote this post about how we were in the final leg of a “runaway” Russell 2000, and in a supplementary post for Slope+ users, I wrote that “This projection also puts the top rather far out in the future – like late September or early October of this year.” Well, we are now “rather far out”, and the question is obviously whether or not this is the top or simply the 1,385th speculation of a top that doesn’t materialize.
The debt ceiling crisis we’re facing right now has been, for many months, The Big Kahuna according to ZH. It was supposed to put summer 2011 to shame. Ummm, let’s check on that:
So my guess at this point is as follows:
I don’t relish the above, because I am not excited about the prospect of holding on for another stomach-churning lurch higher. The opportunities on the short side seem spectacular to me, but I don’t think I should get really aggressive until the final retard-o-ramp transpires. Until then, we’re just going to continue to get bandied about, this way and that, with every little rumor and denial. I can’t wait until this crap is over and done with.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.