Archive for July, 2009

Weirder and weirder, said the heart king…

Posted on Jul 29, 2009 by .

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Three years of the Indu.  And if that last wave up is not weird color us the knave of hearts.  And if that last wave up (sponsored by the Goldyman) is not too steep to last color us the joker.

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Fool’s gold re redux…

Posted on Jul 28, 2009 by .

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We demurred when the last buy signal in gold was offered us, as recorded here.  Good instinct, or good analysis, or good gracious – anyway it worked out not to do it, because today’s action is a clear island reversal formation.  Not that anything is dependable anymore, but good practice says you should take classical signals even in confusing cross current markets.  So now we’ll see if it goes down, as it should according to ancient knowledge.

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Stranger and stranger said the Red Queen…

Posted on Jul 24, 2009 by .

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With the major indices taking off like the space shuttle it is strange that the basic group of ETFs is so recumbent.  We looked at the basic list and found a mess of them with uninspiring charts.  The indices are making new highs and these ETFs are basically listless:  IAI (brokers), MOO (cows) RTH (retail),  XHB…  The IWM (Russell) is in this class, and even the oil, USO is mostly sideways.

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