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aussiebear

IDS World Markets Tues 3rd March 09

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I would mark the start of a 3 and 5 day cycle sideways up phase from yesterday's close. Top likely at any time from today's open to Thursday's open. See yesterday's Wall Street Examiner Professional Edition Fed Report for a theory on why this week may be stronger than the past 5 days.

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spy initial 3 day cycle upside projection 72.10

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qqqq initial projection 27.20

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For the remainder of the day, & and the week, I’d just like to say:

 

:ph34r: * Beware the over confidence * :ph34r:

 

Make a few good trades, sure.

 

But don’t let it bolster the old enthusiasm too much.

 

Everyone is one trade away from a looser.

 

Keep yer powder dry. Keep them stops nice n tight. And above all, reign ‘em in if they get too fast & loose.

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Seems that the huge problem with pensions has been put on the back burner lately and the problem is only getting worse every passing day.... Unfortunately I didnt have a link, but here is a quick excerpt...

 

By David Evans

March 3 (Bloomberg) -- The Chicago Transit Authority retirement plan had a $1.5 billion hole in its stash of assets in 2007. At the height of a four-year bull market, it didn?t have enough cash on hand to pay its retirees through 2013, meaning it was underfunded to the tune of 62 percent.

 

http://www.bloomberg.com/apps/news?pid=206...&refer=home

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By looking back to the roots of the misadventure in which Bear Stearns traders Ralph Cioffi and Matthew Tannin lost roughly $1.6 billion while allegedly misleading investors, Cohan illustrates how the missteps of the few can have consequences for the many.

 

excerpt from William Cohan's new book, "House of Cards: A Tale of Hubris and Wretched Excess on Wall Street,"

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