October 11, 2007 -- DID Federal Reserve Chairman Ben Bernanke give away any secrets to Treasury Secretary Hank Paulson when the two had an hour-long lunch on Aug. 16? And did Paulson share what he and Bernanke discussed with anyone in the hours immediately after that lunch?
And in other news, the sun rose in the east this morning. 9 out of 10 anal cysts polled believe the sun will continue rising in the east driven by low inflation, money on the side lines, baby boomers..... The lone dissenting anal cyst was a bitter short seller.
Keep on walking ,boys everything is under control.
ECONOMIC REPORT PPI unexpectedly rises 1.1% on food, energy Core wholesale inflation stays moderate with September's 0.1% gain By Greg Robb, MarketWatch Last Update: 9:04 AM ET Oct 12, 2007Print E-mail Subscribe to RSS Disable Live Quotes WASHINGTON (MarketWatch http://www.marketwat.....38F09BD7BBB6}
I guess we will find out if p/c ratios really do mean anything at all. Currently at .70. Fairly low yesterday too as market dropped in afternoon.
Insanity: doing the same thing over and over again and expecting different results. Albert Einstein You can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time. Abraham Lincoln Those who cannot remember the past are condemned to repeat it George Santayana
Spoozer busted the trendline off the 9/24 lows (1507) with some authoritah yesterday. Now we need to find out whether it was a fakedown breakdown or not. I s'pose a move back over 1565 should answer that question.
Pulling back a bit further, the SPX is now pivoting around the topping zone from July b/w 1532-1555. If/when 1532 gives way, it opens up a move back down to 1490-1510ish.
If we get a selldown to those lower levels, looks like a brick wall formed down around 1490ish where the neckline of the reverse McHuge is located.
So if we do get a near-term top, whether now or later this month, strikes me that the downside would be contained in the 1490ish zone, which would be about a 5.5% decline from the 1576 peak. Obviously, if we go higher than 1576, then the selloff would/could be larger in pct terms.
Of course, if 1532-1540 holds, the Spoozer might just keep on a-rampin' to points unknown without a smackdoodle. There's always that possibility.
But with so many of the gitchies giving off frothy signals, there's a good chance the fraudexes will need to get at least a brief 5%+ whuppin' to re-set the table a bit.
It's unusual to see froth rear its head in Oct, since this is more frequently a month where we find dDover Sole lows. But that's the way the crooks have set it up this time 'round.
"It's tough to make predictions, especially about the future" Yogi Berra
"If you believe people are rational beings, you will go through life frustrated and confused" Scott Adams
"Don't dig the dialog of denial"
"No, I don't know that atheists should be considered as citizens, nor should they be considered as patriots. This is one nation under God." George W. Bush
Ooops, I thought it was pretty much self-explanatory:
green zone and above - bullish, yellow - caution, below - air pocket red - danger.
Next turn expected by the end of next week.
Thanks. The "red" zone shows as light orange on my monitor -- looked like some delicious multi-flavor sherbet.... guess it's getting close to lunch time.
