Archive for December, 2013

Heart medicine…

Posted on Dec 21, 2013 by .

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(This letter was written in December 2013)

The story is told of the conquest of Mexico (a rousing good story with wonderful books by Thomas, Prescott, et al) during which Cortez kidnapped the Aztec emperor, Montezuma, and forced him to turn over the Aztec gold.  At one point Montezuma asked Cortez why the Spaniards were so avid for gold.  Cortez responded that the Spaniards had a disease of the heart which only gold would cure.

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Tapir raises its ugly head…

Posted on Dec 18, 2013 by .

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1218spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p83750808625&a=214966864

Bernanke sparks major rally, changing the context altogether.  Investors and traders have been in a state of high anxiety for months about (ta-dum) the dreaded taper, or as it is sometimes known the removal of the punch bowl.  When Bernanke said that he was just going to pour in a little less gin the market got all giddy and blew out the shorts.  Shorts and contrarians have controlled the market the last (m/l) 14 days.  This will shake their confidence — a new high close.  But not a new high.  Nevertheless the pattern is broken.  Now we must see follow up and confirmation.

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Interpreting a mishmosh of data…Casting the runes…

Posted on Dec 14, 2013 by .

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1214spx

 

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=8&dy=0&id=p50934119130&a=266398464

Sometimes there is nothing for it but to cast the I Ching — or the runes or the crystal ball or just to appeal to Congress for help.  That last would be in vain for certain as they just gave us a budget guaranteed to be of no help to the economy.  But we digress…

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Strange wave…desperately seeking Susan (and stops)

Posted on Dec 11, 2013 by .

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1211spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p83750808625&a=214966864

 

Where is Madonna when we need her?  Oh, right, in the creche.  What we’re praying for is a trendline.  This wave is without a valid upsloping  trendline.  So we went to our bag of tricks to create feasible stops.  As our knowlegeable readers know we must have a Basing Point to base a stop on.  But we have not had a downwave since October.  That alone should make searchers after the Snark nervous.

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