Lugnut Posted January 13, 2012 Report Share Posted January 13, 2012 More Oily Anal Cyst commentary on Oil - http://www.bloomberg.com/news/2012-01-12/oil-drops-as-eu-embargo-of-iran-said-likely-to-be-delayed-by-six-months.html Oil headed for the biggest weekly decline in four in New York after a proposed European Union embargo of Iranian crude imports against the nation’s nuclear program was said to be facing a delay of six months. Futures were little changed after sliding the most in two weeks yesterday to the lowest settlement this year. The embargo postponement will allow countries such as Greece, Italy and Spain to find alternative supplies, according to an EU official with knowledge of the talks. Oil also fell after a report showed U.S. retail sales rose less than forecast in December, signaling an economic slowdown in the world’s biggest crude consumer. “Oil is probably moving downward to $95 to $90 in the short-term” after news of the delay, said Tetsu Emori, a commodity fund manager at Astmax Ltd. in Tokyo. An embargo will be hard to put in place “as it is quite difficult for countries to shift and find alternatives even from other Middle Eastern countries,” he said. Link to comment Share on other sites More sharing options...
Charmin Posted January 13, 2012 Report Share Posted January 13, 2012 If it all went well for the bulls and it was a H/S bottom we might be confident up to 1384. Read this: http://www.trainingfortraders.com/ Link to comment Share on other sites More sharing options...
Goldmember Posted January 13, 2012 Report Share Posted January 13, 2012 All this talk of Cousin Earl made think about Uncle Farty, the gassy ETF. At an interesting technical spot which may get a rise out of Uncle Farty. Let's hope he doesn't go in the kitchen poking that bulging polyester at the ladies. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 13, 2012 Report Share Posted January 13, 2012 Gold with a nasty looking intraday reversal too. Also tagged the 50 fib number from 1800 to 1525 low. A perfect short entry with a stop above 1670. Looking good right now. Link to comment Share on other sites More sharing options...
Dharmaeye Posted January 13, 2012 Report Share Posted January 13, 2012 http://www.youtube.com/watch?v=JnYRJMGxO0c&feature=g-u&context=G229f8b9FUAAAAAAAAAA Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 13, 2012 Report Share Posted January 13, 2012 http://www.youtube.com/watch?v=JnYRJMGxO0c&feature=g-u&context=G229f8b9FUAAAAAAAAAA How was Harry's performance over the past 5 years? Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 13, 2012 Report Share Posted January 13, 2012 http://www.investmentu.com/2011/October/the-harry-dent-indicator.html "In his new book, The Great Crash Ahead, self-styled “economic futurist” Harry Dent warns equity investors to cup their groins. Stocks, he declares, will “crash to between 3,300 and 5,600 on the Dow by the end of 2013, or 2014 at the latest… Hold onto your life jacket and climb into the lifeboat. The next few years and the next decade will be the most challenging you have ever seen or will see in your lifetime.” This is great news for stock investors. Terrific, really. Let me explain why. History shows that Dent has a gift for getting the big macro picture completely backwards. I’ve written about Dent’s failed market predictions before. But let me bring you up to date. In 1999, near the tail end of the longest and most powerful bull market in U.S. history, Dent brought out his book The Roaring 2000s Investor, confidently predicting that the Dow would hit 44,000 by 2008. He was off by 35,000 points or so. Dent also argued forcefully at the time for Nasdaq stocks – the worst investment you could make in the New Era bubble – and predicted “the technology revolution will favor internet-oriented companies.” Within three years, the Nasdaq lost three quarters of its value and the leading index of internet stocks plummeted 89 percent. Ouch. In retrospect, it’s obvious just how wrong Dent was. But during the internet mania, plenty of brokers and investors agreed with him. He sold thousands of books and raked in big bucks as an adviser to top Wall Street firms, including Morgan Stanley. Bloodied but unbroken, five years later, using his same “demographic trends theory,” Dent published The Next Great Bubble Boom: How to Profit from the Greatest Boom in History: 2006-2010. Well, no. That period encapsulated a full-blown financial crisis and the biggest stock market bust since the Great Depression. In the book, he argued again that the Dow would hit 40,000, this time by 2009. The benchmark plummeted to less than 6,500 in the spring of that year instead." :o :o :o Link to comment Share on other sites More sharing options...
capitall Posted January 13, 2012 Report Share Posted January 13, 2012 There you go. This study illustrated perfectly once again. Does Accurate Forecasting Get Attention? (The short answer is No.) http://www.cxoadvisory.com/3959/investing-expertise/does-accurate-forecasting-get-attention/ Market forecasts are just like most other products in the marketplace. Those that are skillfully and aggressively marketed seem to get wildly popular sell like hotcakes, even if they are highly destructive to one's well being in various ways. Those that are not marketed skillfully are not paid attention to, even if they are worth their weight in gold. Seems it's pretty easy to fool lots of the people lots of the time and make quite a good living doing it. What's amazing is that so few people check into a guru's past track record, like you did on Dent, Madness. Link to comment Share on other sites More sharing options...
I_Am_Madness Posted January 13, 2012 Report Share Posted January 13, 2012 What's amazing is that so few people check into a guru's past track record, like you did on Dent, Madness. Only one voice that matters in this business...the voice within. Link to comment Share on other sites More sharing options...
howard in nyc Posted January 13, 2012 Report Share Posted January 13, 2012 Only one voice that matters in this business...the voice within. but all those other voices within my head won't shut up Link to comment Share on other sites More sharing options...
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