Archive for November, 2010

Currency misinformation. JPY, CHF

Posted on Nov 29, 2010 by .

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As you have heard, ad infinitum, and with great emphasis and wailing, The dollar is being weakened — deliberately –in a plot to lower the costs of US exports — as well as  avoiding deflation.  The problem is that the charts show the dollar strengthening against the Yen and against the Swiss franc. We see […]

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Bungee markets.

Posted on Nov 28, 2010 by .

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http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=215498479 Here are some numbers to think about because we have certainly been thinking about them.  We have had a 50 day upwave, broken trendline and all.  We now have a moderately bizarre downwave of 12 days.  Over the past 8 or 9 days we have had 5 days of three digit moves.  215 points […]

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Luck of Irish drives euro lower.

Posted on Nov 23, 2010 by .

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http://stockcharts.com/h-sc/ui?s=FXE&p=D&yr=0&mn=6&dy=0&id=p88765093810&a=203282122 It appears to us that the euro has resumed its long term downtrend.  Whether it’s the fault of the Irish or Goldman Sachs or the Germans does not concern us, though we are certain that if they listened to us the European economy would be in a lot better shape.  But that is also […]

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Squirrel markets. Bulls bears mules hibernate. Playing defense better than the 49ers.

Posted on Nov 22, 2010 by .

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http://stockcharts.com/h-sc/ui?s=$INDU&p=60&yr=0&mn=2&dy=0&id=p25782902376&a=202457238 Squirrel markets can drive you nuts.  It certainly drove us nuts to write this commentary.  And it’s probably driving our readers nuts.  It was not till we went to the hourly chart that it became clear to us.  As you can see we are in a clear downwave, now 12 days long and about […]

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Gnarly surfing in deep anxiety waters. DIA, FXE, TLT, IED

Posted on Nov 19, 2010 by .

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Most analysts have “indicators” that tip them off as to when the market is going to turn and when to buy and sell.  Some have indicators as to general market mood.  Outr general market mood indicator is an old west Texas cowboy named Michael who buttonholes us in the bars and coffee houses we frequent.  […]

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