Archive for February, 2012

More crystal ball gazing

Posted on Feb 25, 2012 by .

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We delight in debunking rash forecasts and talking heads.  But its hard to argue with a computer — in this case the Stockcharts.com computer using generally accepted algorithms to analyze a PnF chart.  The analysis predicts a target of 1670 for the S&P. Barron’s 15000 (maybe 17000) and our own January calculations (a nervous tic […]

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Are we there yet?

Posted on Feb 22, 2012 by .

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No and at this rate we may never get there.  We now have a series of waves 82 days long amounting to a near 25% advance.  The last leg of the wave — the present one — is 44 days and near 11%.  This wave has created  extreme restlessness in the investment community.  There are […]

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Sumo currency.

Posted on Feb 19, 2012 by .

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Somewhere the Union Jack is flying eternally — maybe in Japan, because here are buy signals in the GBP/JPY. Not just the Brits, but the Svitzers also — though given Swiss manipulation of their currency one might be wary here. Even the battered and depreciated euro has a positive chart pattern against the Yen. We […]

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The apple has come home to roost.

Posted on Feb 16, 2012 by .

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We remarked a short while back that Apple appeared to be going parabolic.  It’s hard for us to imagine that there is a trader out there who hasn’t heard our rant about parabolic curves — that they ALWAYS collapse.  Today Apple exhibited a classic reversal day.  Opened up strong, ran up more, then turned and […]

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Oh no. Barron’s INDU 15000.

Posted on Feb 12, 2012 by .

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In the Sports Illustrated financial version of the curse Barron’s arrives in the mail with a huge front cover headline: “15000”.  Traditionally a negative indicator for the immediate, but not that far fetched over the next two years. Also one of the analysts we most respect, Larry McMillan: http://www.marketwatch.com/story/overbought-market-due-for-a-correction-2012-02-07?link=home_carousel On the other hand 100% of […]

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