Worthwhile read by Gary North
When did printing money out of thin air actually solve anything?
Who doesn't understand how we got here? by OVER CONSUMPTION, LACK OF SAVINGS, and DEBT GORGED?
What is needed is a healing period, so what does the FED do? Interest rates to ZERO % DOUBLES and then some money supply as adj M base (just sitting around) and bails out the banking system that caused the fiasco while dumping its debts onto the American people?
SO all that for the good of the people? yeah WALL STREET people, not you and me.
ANd all this time debt upon debt upon fiscal malfeasance continues on unabated.
A bad plan is worse than no plan. SO induce people to spend when over spending got us here? PROP UP what is supposed to be a free market with OUR MONEY with rewards going to bankers?
There is NO easy way out. ONE YEAR of adjustments doesn't cleanse the system, not after what they did to it.
WHAT GOOD is the FED if in charge of avoiding such a mess as we have been thru in 2000 and again 2007-2008, if they didnt see the rampant real estate speculation and WILD financial instruments that helped cause this crisis...WTF good are they?
They are keepr of the reserve currency.....it has lost 40% of its value since 2001.
KEEP up the good work, we'll all be broke and working for the chinese. They have OUR $'s buying all that cheap shit, they are using it to BUILD their military, buy the worlds natural resources........remember they are communists....they also have done it on the BACKS of their Peasants! RUINING their environment....all for the all mighty green back?
PS* Todays down volume was 89% ! and onheavy volume continuing trend of up days LIGHT and down days HEAVY.
D
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3 comments:
Top is in short at will!
Anonymous, I would be careful calling a top here, I see no sign of long term buyers or long term sellers. Value is building higher over the last 8 days, and we have both mechanical highs and lows over those days. IMO, short term traders are in control of the market here trading the range. Intermediate term buyers will converge at the break above 1114's- 1120's, and at the least, short covering will take us up into the 1120-1170's range on the S&P. Having said that, this trading range is overlapping the previous bracket from Sep to Oct, and that is not a sign of underlaying strength in the current auction. There are a couple of gaps below us to keep a watch on. We fill the 1094 gap, but couldnt break above the 1114's with conviction, there are gaps at 1066 and 1014. These are targets if we do break down under the recent trading range and do accept value under that range. Having said that, I would be a buyer on any minus development in the profile on the day time frame with lower price, or be a seller on any minus development on the day time frame on any higher price. If you are an intermediate time frame trader, you could sell up here with a stop above the 1114-1120 area, with a target at the 200 day MA near the 975 area, or the gap at 1014. I am not an intermediate trader, so I am more short term oriented. The low 1090's are supporting the range of late. Watch for fake out minus development below that range for nice trade location on the long side if volume is light down there. Good trading to you! SSK
I have been getting emails from a few top callers, but my best sub says phase ONE Primary uptrend, so what do I do?
We're in trading range and its CHOP CHOP to traders....lose lose...break 1120 lookout shorts (but initial could be fake out) or lose 1080 are waterall may commense....NO TA I look out is telling me top or NO top
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