One, the intelligent progeny of a Goldman/Citadel alum told me that he wants to short China due to its leverage and over production .

Two, like the proverbial shoeshine boy, a friend expressed her excitement to yours truly, “I have a friend who invested in China, and he looks like a cat that just drank a bowl of cream…”

Three, the primary uptrend that began in March of 2009 has been broken.

The picture in China is getting ugly, firing the $FXP bazooka is in order.

-Rahul Sonnad, 1998

Trading in a secondary downtrend above a rising upper Bollinger, profit taking and mean reversion are at work. A retest of the $180 area may be in the works before sellers abate, so buyers can relax the trigger finger.

The new iMac family is impressive, especially the 27″ 3GHz Dual Core with 4GB RAM, a Radeon 4670 and a 1TB drive. With a 3 year warranty and tax you will set you back 2 grand, but such is the price of luxury.

Uncle Scrooge recommends you wait a few months till the re-certified models appear in order to grab these beauties at a hefty discount. Meanwhile, refurbished PCs are a fantastic arbitrage opportunity, offering 50%-200% return on each unit. Who needs stocks?

Since 2004, $INTC has traded in a range between 31 and 11, and has risen nearly 30% since breaking out on May 4th 2009. Trading in a primary and secondary  uptrend above a rising upper Bollinger on the daily timeframe, $INTC looks poised for further gains.

The one hour time frame suggests an upside target of 21.78, but a move below 20.34 would signal consolidation. The broad market is showing signs of weakness, so the chances of a pop and drop are elevated.

Rather than chasing stocks, my day trading is focused on UPRO, the 3x Bull S&P 500 ETF. Riding this intraday using a 1minute P&F chart scaled to the Average True Range offers many good opportunities.

Your eyes glaze at the sight of red green speckles.

“$NYSI$BPSPX$VIXwha?”

Hypnotic lines blur your vision.

You read the blurb.

The charts plot the trend, breath & volatility of the S&P 500.

Each chart has a point value determined by  change and trend.

The cumulative score is a gauge of market strength.

You pause, unsure what it means.

Currently the Market Strength is 9/10, a strong reading. The missing point is due to the downtrend in the NYSE Summation Index ($NYSI), but since it rose +9.18, it contributes one of two possible points. Another eight points come from the McClellan Oscillator ($NYMO), Bullidex ($BPSPX:$VIX) et al., as they trend up and close higher.

The high reading is bullish as it implies a positive price trend with increasing breadth and falling volatility.

Trading in an uptrend above the upper Bollinger, $AA looks poised for further gains.

If $AA falls below 14.07, expect further consolidation before it continues its run.

The broad market is back on track to make new highs, and with gold leading the charge, inflation concerns will continue to dominate headlines.

While I soak in warm tubs filled with mead, you’ll be looking to buy an “undervalued” company with “unrecognized” potential. And as you average down into your already over sized “sure thing”, I will be enjoying forbidden fruits with a nubile representative of the fairer sex.

When the market languishes, I’m on vacation. I’ll check screens and look at charts, but until the market can get some upward momentum, I stay in cash and watch the fallout.

Treasuries continue to rise, much to the chagrin of retail-macro-investor types who are holding $TBT as if it had any value. This ETF screen suggests insured national municipal debt is the best place to keep your cash, so keep your equity appetite in check till things turn.

If $SPY can breakout and hold 106.56, the bulls will probably make a push for new highs. On the other hand, a move below 105.96 would suggest further consolidation and a potential retest of the 104 price range.

Trading in an uptrend above the 20sma gives buyers a bit of an edge, but since it remains between the Bollinger bands, buying pressure isn’t strong. With old favorites like $GMCR popping up on this screen, I’m still buying intraday breakouts in select stocks with short squeeze potential.

The GEO Group, formerly Wackenhut Correction Corporation, is looking good as it makes new highs. Though the name is not familiar to all, my tinfoil hat sources tell me they run vast prison camps for the Federal Government.

These boys are banking coin when lawmakers pass delightful legislation to keep 60% of inmates in prison for non-violent drug offenses. There is plenty of specific controversy surrounding $GEO, such as the stories here, but that won’t stop this crime loving money maker.

Corporatist neo-feudalism and the emerging North American Union are financially tangible trends and Wall Street is taking notice of the New World Order thesis. Take a look at VeriChip ($CHIP), a pioneer in implantable RFID chips, up hundreds of percent in the last few weeks.

Drug makers promising H1N1 vaccine have been market darlings as conglomerate media interests obfuscate mortality data, confusing the public with ominous health warnings.

We can thank the private cartel known as the Federal Reserve for the rally since the March lows as it continues to weaken the $USD, boosting stocks across the board.

Here’s something to think about if you’re arrested for refusing inoculation and tagged with a RFID chip at the detention center. Why do we need an interest bearing loan for Federal Reserve Notes to create Treasury debt?

Regardless of the fundamental outlook, $MBI looks ready for further gains as it trades in a primary and secondary uptrend above the upper Bollinger. A move below 7.92 would initiate a secondary downtrend, suggesting further consolidation as the stock digests recent gains.

Please note that this chart is displaying the 1 hour time frame rather than the usual daily. This is a closer look for traders interested in shorter term bets. More intraday charts will be appearing on this blog in the future, and potentially stocks on a 1 minute time frame on StockTwits.