Market animals and…Thanksgiving

Posted on Nov 19, 2013 by in Letters

EVery year, at Thanksgiving and Christmas, we take a moment out to think about hunger.  Not ours.  Here is a San Francisco Chronicle editorial on the subject:

http://www.sffoodbank.org/in-the-news/san-francisco-chronicle-editorial-food-banks-cant-make-up-for-food-stamp-benefit-cuts 

It’s not much, but right now you can double your contribution because of a matching grant from Unilever:

www.supportfeedingamerica.org/Holiday

We  got two for one leverage by donating.  Good Trade.  Donate and have a bountiful Thanksgiving.

Speaking of market animals we were trying to decide whether to characterize Carl Icahn as a buzzard or as a hyena.  Or as an extortionist or a bandit.  He is definitely a market predator — but that’s neither here nor there.  What’s here is that the market is revealed as being more nervous than a tick when a clown like Icahn can singlehandedly knock it off balance as he did yesterday.   Meanwhile, we note from Marketwatch that a market tiger, Soros, has pulled in his horns on his put bet on the market.  You will remember our remark that when pros get caught wrong fabulous profits are to be made.

 

1119spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p20049953156&a=214966864

But the market continues to press on in the face of nervous chatter from talking heads and faux pundits (these loudly proclaim the imminence of teotwawki and market implosions worse than 2008).  These are pitiful attempt to attract attention.  If it never happens these stupid predictions will be forgotten.  If it happens they will dine out on the story for the  rest of their soi-disant careers.  But you can see the state of the market from the chart.  The trend is intact.  The last short uptrend line is of negligible importance (because  there has not been a downwave to create an anchor point.)

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