joe3pack Posted January 23, 2010 Report Share Posted January 23, 2010 unlimited campaign donations. . . just the kind of douched-up productivity our economy needs. we'll be the envy of the free world. whaz next. . . a mime-based economy? Link to comment Share on other sites More sharing options...
joe3pack Posted January 23, 2010 Report Share Posted January 23, 2010 got out of DGP @ 26 last month--waited too long after the run into the low 30s. wouldn't touch it again till the low 20s. Link to comment Share on other sites More sharing options...
Pretzel Logic Posted January 23, 2010 Report Share Posted January 23, 2010 For the 4 week cycle yes, a chance. Bigger cycles would need to do a repair job first, I think. I'm hoping for that bounce. The bigger risk is that we might not get it, and therefore not get an obvious entry. This one was obvious as a short term pivot, but we've had so many, it was tough to believe on Wednesday that it might be something bigger. Yeah, with ya there. Calling the March bottom was relatively easy, but calling the top has been an exercise in frustration. From what I can see, we've done a triple-zigzag (W-x-Y-x-Z) wave which could be viewed as complete. It looked to me like we were near a top earlier this week, but I've been fooled twice before on this rally: once when W completed, and once when Y completed. However this one *feels* right for the top (in an intangible intuitive way), and generally when "the force is with me" in this regard, it's accurate. If the next leg down has begun, it may ultimately make 2008 seem like a Swedish massage by comparison. Link to comment Share on other sites More sharing options...
psyche doctor Posted January 23, 2010 Report Share Posted January 23, 2010 Yeah, with ya there. Calling the March bottom was relatively easy, but calling the top has been an exercise in frustration. From what I can see, we've done a triple-zigzag (W-x-Y-x-Z) wave which could be viewed as complete. It looked to me like we were near a top earlier this week, but I've been fooled twice before on this rally: once when W completed, and once when Y completed. However this one *feels* right for the top (in an intangible intuitive way), and generally when "the force is with me" in this regard, it's accurate. If the next leg down has begun, it may ultimately make 2008 seem like a Swedish massage by comparison. Yes, with ya there. This rise off the March bottom has been a triple-zigzag in elliot terms. Although a top here is likely, I don't think we can rule out another high just yet. We could easily bounce from the SPX 1085 area next week which happens to be a Fed week. There are guys out there like Mchugh who believe that this entire move down from the all-time highs is of the zigzag variety. If this be the case, then the next leg down, catastrophic wave C, will truly be a sight to behold, bringing civilization to its knees. Mad Max is on the horizon. God help the women and children. Link to comment Share on other sites More sharing options...
alceringa Posted January 23, 2010 Report Share Posted January 23, 2010 I commented on that article in the local newspaper's forums, wondering how the LAFD could justify such an expenditure. The animal lovers were immediately all over me. Chances to practice real world fast water rescues are rare. They got the chance and they practiced. Practice makes perfect. Use it or lose it. There's no mulligans allowed when someone needs pulled out of the water. Next time it could be you, not the dog. If it is you, do you want it to be the rescue team's first try ever? Link to comment Share on other sites More sharing options...
Rationalize Posted January 23, 2010 Report Share Posted January 23, 2010 Ok, so: 1. POTUS proposes a Glass-Steagall like "plan" to maintain banking stability. 2. Banking stability means long term banking profitability, without so many bumps n bailouts. 3. Financial merkits sell off, because they don't like the idea of long term banking profitability. Conclusion: It's not easy to be POTUS. Link to comment Share on other sites More sharing options...
Rationalize Posted January 23, 2010 Report Share Posted January 23, 2010 Bully on thin ice,and this won't help Goldman under investigation for its securities dealings One of Congress' premier watchdog panels is investigating Goldman Sachs' role in the subprime mortgage meltdown, including how the firm sold securities backed by risky home loans while it simultaneously bet that those bonds would lose value, people familiar with the inquiry said Friday Goldman, the world's most prestigious investment bank, has denied any improprieties and said that the use of "hedges," or contrary bets, is a "cornerstone of prudent risk management. http://news.yahoo.com/s/mcclatchy/3407767 How the f*** else are you supposed to make an OTC market? For dummies: "Once an order is received, the market maker immediately sells from its own inventory or seeks an offsetting order." http://www.investopedia.com/terms/m/marketmaker.asp Link to comment Share on other sites More sharing options...
Jorma Posted January 23, 2010 Report Share Posted January 23, 2010 This NY Times article says 11 Senators have said they will vote no on Ben's nomination. No, it doesn't take 60 votes to confirm, in the worlds worst legislative body. While the final vote could even get close that will only be because voting no doesn't matter when you know there will be 51 yeas. None of these guys or gals have the guts to cast the deciding no vote and have their pictures on the front page with the headline DOW down 1000, Not that it would happen but the risk tends to focus the mind of politicians. http://www.nytimes.com/2010/01/23/business...y/23fed.html?hp Link to comment Share on other sites More sharing options...
Charmin Posted January 23, 2010 Report Share Posted January 23, 2010 Doc talked about the mirror image of the March low in his report and two gaps seem to define the range in XLF. It's wonderful to see it didn't close the last gap at the highs. I sort of get the idea that 1/2 back and a good point of recognition would be 10.83, but that would be "moving backwards." The weekly 50 bar ma at 13.50 is another point of confirmation to look forward to near term. http://www.StockSharePublishing.com/ChartL..._1264254998.png Link to comment Share on other sites More sharing options...
DrStool Posted January 23, 2010 Report Share Posted January 23, 2010 This NY Times article says 11 Senators have said they will vote no on Ben's nomination. No, it doesn't take 60 votes to confirm, in the worlds worst legislative body. While the final vote could even get close that will only be because voting no doesn't matter when you know there will be 51 yeas. None of these guys or gals have the guts to cast the deciding no vote and have their pictures on the front page with the headline DOW down 1000, Not that it would happen but the risk tends to focus the mind of politicians. http://www.nytimes.com/2010/01/23/business...y/23fed.html?hp But it does take 60 to end a filibuster, and the 5 senatorial holds means that there will be a very, very long filibuster. Bernanke is finished. In the end history will judge that Greenspan caused this mess, and Bernanke made it worse. Link to comment Share on other sites More sharing options...
swordfish Posted January 23, 2010 Report Share Posted January 23, 2010 My chart for sp500 weekly. sma ema 20 always support the drops. http://www.bankfotek.pl/image/513110.jpeg For Shorty: Most U.S. Union Members Are Working for the Government, New Data Shows For the first time in American history, a majority of union members are government workers rather than private-sector employees, the Bureau of Labor Statistics announced on Friday. Link to comment Share on other sites More sharing options...
swordfish Posted January 23, 2010 Report Share Posted January 23, 2010 missing link for last art http://www.nytimes.com/2010/01/23/business...ml?ref=business Link to comment Share on other sites More sharing options...
Jimi Posted January 23, 2010 Report Share Posted January 23, 2010 But it does take 60 to end a filibuster, and the 5 senatorial holds means that there will be a very, very long filibuster. Bernanke is finished. In the end history will judge that Greenspan caused this mess, and Bernanke made it worse. But... but... but... In the article to which Jorma provided a link, one reads.... “My view is Chairman Bernanke helped save the world from depression,” said Mr. Mishkin, an economist at Columbia University. “Whether you agree with every policy he’s pursued or some of the ways the bailouts were done, the outcome here, given the severity of the shock, is a good one. But that’s hard to explain to the American public when we’re sitting with 10 percent unemployment.” If an economist likes him, shouldn't we? I mean, these things are so complicated. Shouldn't we just trust the economists to do what's right for the country? :lol: Link to comment Share on other sites More sharing options...
Dharmaeye Posted January 23, 2010 Report Share Posted January 23, 2010 With the recent supreme court decision the following has further to run. . http://video.google.com/videoplay?docid=-1...80303867390173# More on climate gate http://www.financialsense.com/editorials/e.../2010/0122.html Link to comment Share on other sites More sharing options...
DrStool Posted January 23, 2010 Report Share Posted January 23, 2010 But... but... but... In the article to which Jorma provided a link, one reads.... If an economist likes him, shouldn't we? I mean, these things are so complicated. Shouldn't we just trust the economists to do what's right for the country? The public does need to have it explained. Mishkin is the one who doesn't get it. Typical academic economist shitheaidism. I was enraged when I saw that comment. That guy deserves to get inundated with hate mail. What a schmuck. Link to comment Share on other sites More sharing options...
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