I can't believe I missed this! I was hoping CNH would retrace to its neckline. I've been so busy shooting eggs at 40 feet and attempting to water ski, I haven't been diligent about my charts. But I see now that yesterday this sucker exploded higher, perfectly touching its neckline.

Thank you, Jesus!

A lot of people over the past few days have been buying Bank of America. I think these people must be clinically insane. I, on the other hand, am simply piling on more and more puts into this position. This chart is tres magnifique.

Lord knows that I've never been completely on top of fashion trends, but I base my decision on charts, not clothes. So here's a shout out to all  my Slope homies, just to say that ANF looks like a very safe short at these levels, with a stop-loss at $65.01. Word.

I have to say, I'm both disappointed and angry. The gigantic bailout that the Federal Government is shoving through the system creates a series of winners and losers. Specifically:

Winners

• The CEOs and other executives of FNM and FRE, all of whom pull down seven-figure and eight-figure salaries and have pulled one of the great corporate heists in business history
• The lower-middle class blockheads that gobbled up real estate at sky-high prices, thinking they would be the next Donald Trump, who are going to simply walk away from their "investments"
• The shareholders of FNM and FRE, who have been spared a $0 stock

Losers

• All the citizens of the United States, particularly those who pay taxes
• Honest, hardworking people that got mortgages through honest means, pay their payment promptly each month, and have received no help or favors from anyone (I am pointing not-so-subtly at myself right now…..)

So the honest and hardworking folks are the fools. And the charlatans and crooks are the winners. And the entire country slips that much closer into oblivion with this travesty.

Gee, Tim, how do you really feel about this?

I have some s'mores to make, so this will be short (as a side note, no one makes s'mores like me – – – I am a zealot about the marshmallow being just right; God help you if you are with me and your marshmallow goes up in flames; that means instant death). Below is a great which screams "more drops to follow"; don't you think people figured the worst was over at each one of those tinted areas?

The indexes might have a little more upside left – – in the coming weeks, maybe an S&P as high as 1325 or so – – but at the moment, the DIA is up to its 32.6%.

The $UTIL is on a fast track to a massive H&S pattern. Amazing.

My energy puts had a dynamite day. OIH is pushing that fan line. Could it crack to the next level below?

I have been buying puts on brokerages and banks. I hope this graph helps explain why.

The Russell hit its Fib perfectly today. I lost about 10k on $RUT puts early in the day, but I re-entered the position at almost exactly the top, and those are in the green now. Not enough to compensate for the loss, but hey, the trade is only a few hours old!

USO has cracked its fan line; the energy market has really fallen to pieces quickly, as I had hoped.

I'm off to the campfire. I'll be looking at more charts tonight. If I see anything interesting, I'll post it in the morning. Adios!