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Anaemic attrition


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An initial selloff for the early openers: Kiwis -0.3%, Aussies -1.1%, Nikkers -0.8% and Sth Korea -1%.

 

Not too much panic selling in Aussie sectors: Gold -2.8% and Miners -1.8% are down the most and Telecomms +0.3% is the only green.

 

 

t?s=%5ENZ50

 

 

t?s=%5EAORD

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w?s=%5EAORD

 

 

Kerthunk for All Ords as it slipped through a support level and is now resting on the next one. The index closed -1.4% with Gold -3.3% taking the biggest hit followed by Miners -2.2%.

 

Asia not getting quite such a beating: China -0.2%, Honkers -0.7%, India +0.1% and Nikkers -0.7%.

 

 

On to UK/Europe:

 

 

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image;size=239x110

 

 

 

image;size=239x110

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the re-test of SP 666 has begun

 

the pretend bull market is over

 

duped suckerbulls clinging bitterly to their dongs and Kool-Aid got caught with their pants down while looking up at bogus projections that amounted to nothing more than simple-minded extrapolation

 

now that the top is in, every week they refuse to sell will cost them more of their paper profits

 

many will lose everything

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The idea on the chart below is, obviously, the bullish idea, but don't think that it is written in stone, even though odds favor it. If price breaks the lower parallel, then that would be a good indicator that something bearish is occurring.

 

Going to take a nice dump and then I am off to New Jersey.

 

post-350-133113117674_thumb.png

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