Tuesday, October 23, 2007

Evacuation Avoided

I've attached a photo of my gentle family as we prepared to evacuate in the face of the local wildfires. For those who have missed my kinship link with Jethro, just go the far, lower right portion of this blog and click "musical interlude". Around here they have reverse 911 service. . if they want you to evacuate, they call you on 911 and tell you to skedaddle. Although the entire sky is now yellow brown smoke, continuously raining black ash all over the place, we dodged the bullet and never got the call to leave. The cat appreciates that as it would disrupt her normal 22 hour/day nap.
On a more boring note, the Qs made another new high on good volume and technically look ready to surge onward and upward. I attached the Qs linear regression channel, you can see that after a picture perfect bounce off the lower channel, not only are the Qs not overbought, but they are dead in the middle of the channel, suggesting substantial upside potential.
The VIX followed through with the bounce off the upper band, this being day 2 of the 4 day count back to the 16DSMA. The technicals strongly suggest that we may get to that target on this cycle.

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