Today our good friends in Europe delivered the latest batch of pure, refined, crack. Over the next several months, tens of thousands of drone-crafts will fall from the sky, saddled with big bags of white powder.

They will land in corporate parking lots—elementary school playgrounds, and god willing one will crash right upon my skull—splitting me clean in half and exploding my body into an orgy of kittens and money like a capsule from Sonic The Hedgehog.

But let’s move beyond the Central Bank cartel.   You want to make money as do I. Where is the next setup?

You come here demanding setups, and that’s okay.

I can give you setups. It’s a necessary part of financial blogging. I am sticking with what works. The next major opportunity according to fungula logic is SOLAR.

The chart, it’s so ugly, so bearish—like AMZN. It is safe to say the TAN chart qualifies for some CMT bearish pattern recognition.

This is why it entices me to buy it, especially if it legs lower to set a lovely trap.

Listen, I missed VA because I have become deeply convinced that fading is the only way to enter these markets. When it was only up 1.5% this morning, it was already “chasing” for me. I am sick, but its working. Today the spider caught a few flies over at TWTR.

There will be more. I have gone on too long. Look to buy weakness in solar and let’s hope the markets don’t turn into a geriatric center now that more QE is here.

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Due to the heightened volatility surrounding this open, I will not be offering any hypos. Here are my levels and if I make any major adjustments today, you will know it:

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The sellers continue their aggressive campaign at $49.10, the micro composite VPOC. Buyers are in the passenger seat until they can claim this level:

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Step up and short the best looking technical setups you can find. Sell, naked mind you, shares to me. If you would be so kind, allow me to use leverage.

Then pucker up. You are about the feel the stiff grooves of my juicer. You will be squeezed, and I will drink your blood. Your meat will be discarded in the nearest waste receptacle.

The false move, fast move is working until it doesn’t. Amazon has been my ‘tell’ for the duration of this strategy. If that stock plummets into the cold abyss then I will cease performing this hedonistic practice.

I managed to scale off a piece of S today which brings my cost basis down to $3.71. Knife catching is much more passive with a cost basis like that, yes?

Other moves: scaled most of my weekly FB calls and scaled half of the CLDX shares I took $20 delivery on last Friday. Running and gunning. Puts my cash up to nearly 35% ahead of the big ECB meeting aka I am back in the bunkers ready to pounce like a tiger, long or short.

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These days are huge. Never mind the tumultuous emotions neutral days tend to conjure. The gains on my swing book, while a welcome respite, also are of no concern to me. What is exciting is the daily opportunity this volatility brings to index trading.

My happy place.

If you add together only the major swings the Nasdaq made today, there was over 200 points worth of range to scalp inside. If you can’t pull at least 50 points out of that, well, then, you must work harder!

So while oil takes my UWTI down 20% and TQQQ makes a little bloop and CLDX gets to dancing, I am more focused on making hay while the sun shines a burning beam of volatility.

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The market is rewarding participants who have the nerve to call its bluff. The uglier the chart, the more likely you can milk a quick 3-9% out of it. And let’s be honest, that’s all I want. Slow plays are just that, slow, and something you earmark 4 times a year. But the fire needs to be on the menu every day.

That’s just one small component to the Weekly Strategy Session. The rest is designed to build a thorough contextual feel while I trade. Does the entire thing matter when I am taking a 60 second scalp? I actually don’t know the answer to that.

Happy Martin Luther King Day. Enjoy an extra day away from the markets then be ready for an intense week of Central Banking foolishness, economic data pointing, and earnings season whipsaws.

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Last weekend value/balance was really taking shape in the S&P (it still is) and this week its really coming together on the Russell:

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When prices action grows in size it is always good to pullback and take a look at the higher timeframes. The weekend is a good time for such leisurely activity. Shall we go for a ride in Raul’s magical mystery balloon?

I don’t find time to get up here enough anymore, what with the voracious ground battles occurring at important territories. Up here you see just how far we’ve come as a race, the bulls, in such short order.

Look at this chart:

Have you noticed those silly price levels drawn across the latitudes? Those territories mean the world to me. Claiming them took brawn and persistence. It paid well. Alas, here we are again at gridlock with the enemy, defending what we worked so hard to claim.

Will you soften your ranks? Will you retreat? Here’s the back story on this zone, dating back to July, just in case you’re in the mood to spend a few hour of your weekend reading my loosely penned bloggery.  I present them in chronological order:

http://ibankcoin.com/raul3/2014/07/02/the-14-year-gap/

http://ibankcoin.com/raul3/2014/07/07/wrap-your-mind-around-the-nasdaq-auction/

http://ibankcoin.com/raul3/2014/07/21/nasdaq-round-up-heading-into-the-week/

http://ibankcoin.com/raul3/2014/08/22/half-gap-complete/

http://ibankcoin.com/raul3/2014/08/25/gapping-into-the-week/

http://ibankcoin.com/raul3/2014/08/27/gap-fill-complete/

http://ibankcoin.com/raul3/2014/09/03/bend-the-rules/

http://ibankcoin.com/raul3/2014/09/08/starting-the-week-in-balance/

http://ibankcoin.com/raul3/2014/09/12/the-curious-conditions-of-balance/

http://ibankcoin.com/raul3/2014/10/27/big-picture-context-update-for-a-busy-week/

http://ibankcoin.com/raul3/2014/11/10/fresh-nasdaq-levels-and-analysis/

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