Well, it was another insane, manic day in the market. Looking at SRS, "the widow-maker", is a sight to behold:

And remember, this isn't even a 3x fund!

I was tempted, based on the tortured pattern below, to go long the /ES, but the countertrend rally is so long in the tooth that I simply would not. On the contrary, I entered a short position of 10 /ES at 865. But the monotonous situation I've been stuck in for weeks now ("IRA kicking but, everything else lame") continues to prevail.

The big earnings announcement post-close today was GOOG, and I guess whatever they said was encouraging. The line I've drawn below suggests a sorta-kinda H&S pattern, and wouldn't you know it, the after-hours trading on GOOG is exactly at that level. I actually put more credence at the line (not shown here) at the higher 421.60 level, which marks the 50% retracement line for GOOG's entire history as a public company.

I am a "nervous long" on OIH, which broke above the long-cited 88.15 level today, only to close at 87.58. Unless OIH cracks into the 90s within the next two or three trading sessions, this is probably a false breakout. I am long in a pretty big way OIH, but as I said, I'm jittery about it.

I'll probably do a comment-cleaner late tonight, but I'll leave it at this for now.

I'm starting to hate my IRA. Why? Because it goes up practically every day.

And isn't that twisted? But it tells me that this fume-based rally still has legs. I mean, I bought the item below just yesterday and it's up over 34%!

When trash is rising, it usually indicates that the end is near, but I'm going to just keep holding on to the trash until I get stopped out. But, man, this is getting silly.

I have been – – try to guess – -that's right! Updating stops! And in doing so, I've also been beefing up my 48 put positions in my personal account (see watch list on right column: Puts: Bearish). The low VIX is encouraging me to amplify some of these positions, as I don't think we're going to see a sub-30 VIX for at least another year (e.g. we're relatively "cheap" on the VIX side right now).