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B4 The Bell, Tuezelday, June 15


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Closing basis charts are what should be used at all times. We elliott guys/ gals get jitiry and wind up doing 1 minute charts. Elliott always used close only. I intend fully to implement that work if I survive this. :)

Always wondered about that, End. I was aware that Elliott used closing only, but I see far more EW analyses being done on bar or candle charts than I do on closing charts. That includes some of the gurus in the biz like Prechter.

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Closing basis charts are what should be used at all times. We elliott guys/ gals get jitiry and wind up doing 1 minute charts. Elliott always used close only. I intend fully to implement that work if I survive this. :)

Always wondered about that, End. I was aware that Elliott used closing only, but I see far more EW analyses being done on bar or candle charts than I do on closing charts. That includes some of the gurus in the biz like Prechter.

Tomlinson uses close only on occassion. They are all using other things when it is not clear. It rarely is so...

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DELUSIONAL AND IMPEACHABLE:

 

 

June 14. 2004 9:04PM

Cheney, in Florida visit, claims ties between Saddam, al Qaida

 

By MIKE SCHNEIDER

Associated Press Writer

ORLANDO, Fla.

 

Vice President Dick Cheney said Monday that Saddam Hussein had "long-established ties" with al Qaida, an assertion that has been repeatedly challenged by some policy experts and lawmakers.

 

"He was a patron of terrorism," Cheney said of Saddam during a speech before The James Madison Institute, a conservative think-tank based in Florida. "He had long established ties with al Qaida."

 

Cheney offered no details backing up his claim of a link between Saddam and al Qaida

 

The vice president also praised the leadership style of President Bush.

"I've watched him make decisions and set the strategy," Cheney said. "I've seen a man who is calm and deliberate, comfortable with responsibility." He added, "As a result, America's friends know they can trust and America's enemies know they must fear the leadership of President George W. Bush."

 

http://gainesvillesun.com/apps/pbcs.dll/ar...864&cachetime=5

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No problemo Col. Went into PTF for a long again. Also SPH.

Both have good dividends, but I will use a 2% stop.

I've been buying the dips and holding on both PTF and PGH. Think that they are going to be real winners this winter.

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Sherlock:

 

My antenna went up immediately when I hear the way in which he was bringing this story forward...it sounded too vague...and he was dismissing it at the same time he was revealing it...just came across as a lame excuse for the market weakness.

 

Would I put it past one of his "sources"? to feed Pissonme a "cover story"

 

Nope.

The White House .........everything. They want total control.

yes, you are soooo right.. another example just hit the news. (CNN)

 

Vatican confirms that shrub told the pope that his cardinals were not doing enough Kerry bashing ( bashing is my word but you get the pic) on Gay rights and abortion. He is soooo arrogant

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HT,

 

Just curious as to why the second zig-zag is not drawn to the bottom of the may lows? Why draw it to the same level as the previous bottom and cut off the chart? Isn't that inconsistent with what that market actually did? We have already traded lower than the bottom on that chart, so the pattern is not valid IMO.

Then why didn't the market breakdown? I can include that portion with a line leading to the word intervention/PPT... I remember the period well...Global markets were sold off the support the US...

 

Now if you were master where would you concentrate your liquidity flows to maintain order?

 

My opinion is down to the bottom and then wham...back up again...And there is plenty of room in the pattern to engineer a rogue blast...unless liquidity dries up then a break through the bottom and engineer a new bottom...

 

Engineering a bottom or a lower low is easy...Engineering a higher high is hard since after that you have to engineer another and another...forever...You need rate cuts and credit easing in the hopes that a great enough volume of desperate idiots shows up to request the required amount of liquidity be created to sustain higher highs...

 

Was there any rate cuts or credit easing lately? That was the helicopter drop...and you all believe it is still coming? First comes the helicopter drop then you tell everyone it is coming then when all the easing and cuts show up the "sheep" think it's a miracle or that the FED is printing money...etc...well we need far more miracles...

 

There was quite a short covering rally off the "May lows"...once the wave 3 of 3 play didn't show up...

 

Below is what intervention/PPT action looked like...

post-20-1087351677.jpg

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Travesty of Justice

By PAUL KRUGMAN

 

Published: June 15, 2004

 

 

John Ashcroft is the worst attorney general in history.

 

Perhaps most telling is the way Mr. Ashcroft responds to criticism of his performance. His first move is always to withhold the evidence. Then he tries to change the subject by making a dramatic announcement of a terrorist threat.

 

Last week Mr. Ashcroft, apparently in contempt of Congress, refused to release a memo on torture his department prepared for the White House almost two years ago. Fortunately, his stonewalling didn't work: The Washington Post has acquired a copy of the memo and put it on its Web site.

 

Much of the memo is concerned with defining torture down: if the pain inflicted on a prisoner is less than the pain that accompanies "serious physical injury, such as organ failure," it's not torture. Anyway, the memo declares that the federal law against torture doesn't apply to interrogations of enemy combatants "pursuant to [the president's] commander-in-chief authority." In other words, the president is above the law.

 

The memo came out late Sunday. Mr. Ashcroft called a press conference yesterday ? to announce an indictment against a man accused of plotting to blow up a shopping mall in Ohio. The timing was, I'm sure, purely coincidental.??

 

http://www.nytimes.com/2004/06/15/opinion/15KRUG.html

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Looks like they are going to boner the futures again tonight. Definite change in strategy. No longer waiting for 3 am. As Rob Rubin would say, "Get in early. Get in big . . . and stay in."

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GREENSPAN: FED BELIEVES INFLATION IS NOT A PROBLEM

 

Then, we were served up the Tsunami:

 

Greenspan: U.S. ECONOMIC RECOVERY NOT SHORT-LIVED

 

Followed by this Gem:

 

Greenspan: REPEATS THAT FED MAY HAVE TO BE MORE AGGRESSIVE

 

My take on this outpouring of missives is simply this:

 

Chairman Greenspan is deeply concerned about all of the above. And for all of the dismal warnings above... once again, Gold was capped for an under $6 gain.

 

The Carry Trade has barely begun to unwind and those very large players are growing increasingly concerned about escape. This is precisely why we are seeing the rampant and uncontrolled expansion of OTC Derivatives. No door is too wide and there is clearly not enough room for escape. This has truly become and all or nothing game.

 

Gold, in light of the above, is underperforming.

 

http://www.safehaven.com/article-1644.htm

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