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Feasting on leg of buffalo, bean soup, jalapeno corn bread, and washing it all down with ice-cold bottles of Snake River Pale Ale, central bankers appeared relieved that the world was now in what International Monetary Fund Research Director Kenneth Rogoff described as a "long wave'' of low inflation.

Lives of the fiat kings

 

Greg Fokker's remote viewing is proven remarkably accurate. One suspects that the bit with the Cohibas was suppressed from the story out of political correctness ... not that it didn't happen.

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unfricvkingbelievable, Note the last line. "8:01AM Harris Corp upgraded at Morgan Stanley (HRS) 34.16: -- Update -- Morgan Stanley upgrades to Overweight from Equal-Weight based on attractive valuation vs the wireless infrastructure industry, as well as the strength of its govt and RF Communications businesses; firm thinks HRS has 4-6 quarters of visibility into these defense-related businesses due to strong backlog and new contracts. Maintains $39 target. (Note that the co filed a $500 mln shelf this morning.)"

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Interesting call out of UBS- sales of semi equipment will surge in 2H 2004- I thought it was 2001, er, 2002, er, 2003. Those surging productivity numbers show that employers have hired Vinnie Pasquali (used to be a collection agent for a loan shark) to watch over the employees. :rolleyes:

 

edit- Mark- please add to your hot occupation list:

 

Productivity supervisor

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Your Anals Opening Intraday is up and ready for download. Unable to open your Anals Opening Intraday? Take a subscribatory, open it and download it RIGHT NOW, along with everything else in your Anals!?

 

If you are interested in fine tuning your timing, Stooltrading is the place for you. Doc gives commentary and illustrations of intraday cycles throughout the day with projections for highs, lows, and cycle time turns for the SPX and QQQ that are frequently right on the money. He also gives cmap targets for individual stocks by request. Many of your fellow stoolies share their charts and trading ideas as well. Each has a different style, and one may be just right for you. There are no superstars in Stooltrading, just Doc and a group of hard working Stoolies, honestly trying to help each other and themselves, constantly checking and balancing one another's views. Our Founding Fathers knew it's good to have checks and balances. The more checks the more the balances. So take a subscribatory to Stooltrading RIGHT NOW, and increase your checks and balances! Become a Stooltrader and join the fun!?

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I think we are at an intermediate top. Doc was saying we would see it yesterday and that was probably the beginning of it. We should see it more clearly today and tomorrow. The 6-7 week and 13 day cycles are poised to turn down. A reversal day today would be real nice. I'm getting tired of seeing the market only go in one direction.

For those of you who like pattern setups here are three completed bearish patterns that I found.

 

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Interesting call out of UBS- sales of semi equipment will surge in 2H 2004- I thought it was 2001, er, 2002, er, 2003. Those surging productivity numbers show that employers have hired Vinnie Pasquali (used to be a collection agent for a loan shark) to watch over the employees. :rolleyes:

 

edit- Mark- please add to your hot occupation list:

 

Productivity supervisor

It not manufactoring that's growing, but other non-farm businesses. That non-farm figure includes spending on the Iraq war somehow.

 

In the second quarter of 2003, productivity increased 3.7 percent in

manufacturing, as output declined 2.4 percent and hours of all persons fell

5.9 percent (seasonally adjusted annual rates). In the durable goods sector,

productivity grew 3.5 percent in the second quarter of 2003, as output fell

3.3 percent and hours dropped by 6.5 percent. In nondurable goods, output

per hour rose 3.4 percent, as output decreased 1.7 percent and hours dropped

4.9 percent (tables 3, 4, and 5).

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I agree. The disconnect with everything else going on in the world is, as stated elsewhere, incredible.

 

re: gold. The important thing for gold is not how it opens, but how it responds afterwards to sudden moves. It may be ready to break long term resistance, as the relative resilience of PM shares indicates. The action near $400 (maybe even 425) will be more indicative of the depth of longs' conviction.

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Someone posted a chart on the New highs/new Lows Indicator, saying we have extreme buying not seen since beginning of the eighties. The question asked was: is this bullish.

 

Extreme buying can also mean capitulation to the upside, an interpretation I personally favour, since we are still in a secular bear.

 

Kind regards

 

The link is from www.thresholdtrading.com, very good pay site.

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