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Baghdad Riverboating


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I'll repeat this warning once, then I'll shut up.

 

As Ike indicated the other day, many of his indicators have bottomed, and are pointing to the possibility of another large leg to the upside.

 

Using the link below, here is my analysis of The Economy (AMAT).

 

http://139.142.147.218/StockChart_ImageOnl...PX&ref_rate=180

 

The Money Flow Index is now at rock bottom. The same as it was at the end of September before the last surge from $18 to $26.

 

The MACD is showing higher highs on each top. Still no sign of a "failed top" yet, and the MACD is two days away from a positive crossover.

 

Now, looking at the AAA-rated Money Market Fund (QQQ), fully backstopped by the Fed:

 

http://139.142.147.218/StockChart_ImageOnl...PX&ref_rate=180

 

I see a head and shoulders pattern which is no doubt being Riverboated Southbound by the HedgeHogs.

 

Money Flow Index is now in the same area as the March lows, and even lower than the August lows.

 

MACD crossover is imminent on any move higher.

 

I have been following the AskResearch Money Flow Index for 4 years. Without fail, when that indicator gets this low, it has been a dangerous area to short.

 

End of Warning......

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Howdy!

 

It sure looks like the gold stocks are convinced that something big is afoot. I fully expect another attempt at a Monday Gold smackdown, but I don't think it will work twice. If the gold buyers overwhelm a dollar ramp job, we could finally see an unhinging of the price of gold relative to the dollar. The USD could bounce for real here, but I have a feeling there are finally too many forces aligned against it.

 

So what was the deal with CFC today? Check out the intraday and view it in relation to the 10-Year Treasury, and tell me what's up with that? Anyone believe CFC is going to make more money next year than it did this year? Can we really have lower mortgage rates?

 

As for IVAN, I loaded the boat at $4.10, assuming the $4 area was bounce city.

 

As for the new momo screamers, apparently the Matrix sent a memo over to CNBS telling them that we need to identify the next "disruptive technology" to rotate into. Drugs are hosed, and Natural Gas is languishing, so we need you boys to create some hype around VOIP and send those little stocks on an AsianExotica-Style bonner blast.

 

Apparently it's working.

 

Plunger

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Posted on Nov 28 2003, 06:46 PM

--------------------------------------------------------------------------------

Wndy, thanks for alerting.

But why is StockCharts not agreeing?

 

An Ant

 

Srf's been acting like a bull in drag since June, with one 'warning' after anUDDER, and the averages have gone almost nowhere.

 

And is HRFF missing something or did he fail to predict all the downside with the same ardor he's predicting more up?

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