Greek tragedy or farce? and investment pornography….

Posted on Jun 18, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=3&dy=0&id=p88572661534&a=214966864

At the risk of being accused of being a pinko, commie San Francisco fellow traveler we offer you a great truth from Marx:  History repeats itself, first as tragedy, then as farce.  The Greek farce -- or perhaps satyr play -- appears to have  favorable resolution for the moment with responsible parties winning the election.  (Don't get too excited--They could just be faking us out.)  Anticipating a favorable result the market broke over the nearby resistance as seen in the chart above.   The power bar over the horizontal line should presage some smooth sailing -- note.  Should.  The next horizontal line should represent some resistance, but this could well be the response to the downwave.

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