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As We Enter the Twilight Zone

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“There is a sixth dimension beyond that which is known to man. It is a dimension as vast as space, and as timeless as infinity. It is the middle ground between light and shadow — between man’s grasp and his reach; between science and superstition; between the pit of his fears and the sunlight of his knowledge.” – Rod Serling

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And so, as the Drop Dead Date approaches, when the US Government runs out of money and can no longer pay all of its bills, we enter the above described arrondisement. Or "borough" as New Yawkuhs might say. We are no longer on Wall Street. We are in the Twilight Zone.

It's kind of like Staten Island. Nobody wants to go there, but people live there. Mostly cops and Mafiosi. And it only pretends to be New York. It's really New Jersey. 

So this is the market now. We don't know where we are. We're stuck in traffic on the 440 on the way to Wall Street and we don't know how long we'll be there. 

As I mentioned yesterday, the market is probably headed for the Dick Trickle Memorial Point, which is at 4130 at midnight tonight. To avoid such ignominy, the market would need to clear 4142 with authoritah for an upside move. Or to smash 4110 to head lower. 

In both cases, there are reasons, and lots of lines, to suggest that there will be no follow through. Therefore my recommendation for today's trading is...

FAMILY VACATION! Coney Island, here we come! 


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re debt limit..... 

The repubs will cave like a wet noodle.

As soon as they get phone calls from their constituents like....

"I invoiced the Government for 10 cruise missiles and they havn't paid for a month....how about earning your campaign donation". 

Its no longer funny or even convincing anymore.

Just the most boring of boring Kabuki theatre. 

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US politics are complicated. It's pretty clear that fascists can win elections in most parts of the world when they can stack the deck. In many places, the majority supports them, even without the full fledged mind control. Just look at FL.  

Point being, they probably won't cave because all but a handful are in safe seats. 

It would not surprise me to see technical default. The interest will still be paid. The expiring paper will still be redeemed. But some won't get paid, and the House extremists won't give a fuck. They just want to stick it to Sleepy Joe, regardless of the consequences. 

Which won't be as bad as the Cassandras are warning. 

Report coming shortly.  

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Being quick to anger is not good for the heart...or the soul.


I'm known in my own little world as the "Philip K. Dick of Technical Analysis" so, I do appreciate the latest direction in your morning commentary.

To everyone else...

I re-posted(and then some) yesterday's tutorial...in yesterday's thread.

I'll apologize for the typo's...I didn't get to finish editing before the cut-off.

Gotta run...literally.

See you on Friday,

The CoinGuy

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She said the accompanying financial crisis could multiply the severity of the downturn, adding, "It is very conceivable that we'd see a number of financial markets break - with worldwide panic triggering margin calls, runs and fire sales."


At first I thought I was reading a gold dealer and promoter's newsletter.

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Lee I get the sense they are going to blame a recession on the debt ceiling debacle. Typical games between Dems and Republicans, while the rest of us suffer. This is just a distraction from what you are seeing in the tax withholding data.

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