Sorry I've been sparse on the "threads these past few days ladies & gents. BUT IT'S THAT TIME OF YEAR again. Chores THIS time of year simply CAN NOT go unattended...
You SOW, and then you REAP... If there's no sowing. There's no REAPING. I imagine it's been like that for all of mankind...
Except for this clever bunch who have evolved in the past generation and a half. These people are smart with their Harvard and MIT degrees they think they've concocted ways ways to live in which ALL YOU DO is reap.
Actually you don't even reap. You just party all day and all night, and when it comes time to reap (something created out of nothing) you borrow money to pay some other person to reap it for you and offer it to you on a silver platter as tribute to your GODLY wisdom...
I'm kind of an OLD SCHOOLER. So I'll continue doing things the old fashioned way and listen to everyone tell me how stupid I am... :-)
Life's just a cocktail party!
"This town is full of money grabbers... go ahead BITE THE BIG APPLE!"
15 comments:
mcHAPPY likes this set up for next week. It would certainly prove me a contrarian indicator. Would also tie in with a blow off in DXY to end B and start 5 down for C of wave 2 OR end wave 1 with a blow off to start wave 2 correction.
What would more experienced wavers think?
http://www.apartofny.com/wp-content/uploads/2010/04/apart-EWSPX_ED.png
McHappy do you have your DXY chart too? would love to see that.
"Of course we didn’t dodge the mortgage mess. We lost money, then made more than we lost because of shorts." —Lloyd Blankfein, November 2007
The latest from Grantham at ZH:
http://www.zerohedge.com/article/jeremy-grantham-nothing-greenspan-legacys-latest-bubble-america-now-thorougly-expensive
McHappy. I'm thinking about currencies and DXY again this weekend. Will have some thoughts Sunday eve.
Tonight, I'm basically revelling in the victory of my girls Volleyball game. I'm coaching again this season and the team is "rolling." It's funny how a few victories changes the whole attitude/tenor of a team.
Indeed, winning begets winning....and vice-versa.
I guess the same can be said of trading!
-AT
@AT: I coached junior high hoops and jv baseball back in the day. There's nothing more gratifying than seeing everything "click" with your team. It means all that teaching and instruction is working. Very gratifying.
@Nic
Here is where most of my DXY thoughts originate. I really enjoy Lara's work. She had another count (current 5 was actually 3) going that she discarded for this count, however, the wave action lately it might still be a (remote) possibility. I'm not sure of all the rules for EW so someone else can comment if I'm wrong.
http://www.forexinfo.us/2010/04/22/usd-index-elliott-wave-analysis-%e2%80%93-21st-april-2010/
@Andy
Looking forward to it.
Here is the latest NLY: The Revolution will not be seasonally adjusted.
As if we needed more confusion regarding the state of the housing market, on April 20, 2010 Standard & Poor’s issued a press release that stated the following:
“For the S&P/Case-Shiller Home Price Indices, S&P reports two data sets – before seasonal adjustment and seasonally-adjusted. In some recent reports the two series have given conflicting signals, with the seasonally-adjusted series rising month-over-month and the unadjusted series declining. After reviewing the data, the S&P/Case-Shiller Home Price Index Committee believes that, for the present, the unadjusted series is a more reliable indicator and, thus, reports should focus on the year-over-year changes where seasonal shifts are not a factor.”
Marty Chenard on the 30 year:
http://www.safehaven.com/article/16521/this-is-important-
For me, this chart says it all. The bubble economy. Can't get off the rollercoaster and won't any time soon.
http://www.zerohedge.com/sites/default/files/images/user5/imageroot/spx_bubbles_3.png
Mannwich @ 1:30
Well, then "ride the wave" (or the rollercoaster).
Just get out before it crashes.
TradingEconomics.com has updated their big table of ten year yields around the globe. (I think it's updated every Saturday.) Greece can take comfort in the fact that they're still paying less than Pakistan, although they've pulled ahead of Indonesia.
So according to the bond market, the Greek crisis ranks in severity somewhere between "devastated by tsunami" and "likely to be overthrown by terrorists."
Easier said than done, DL.
@DL: I'd prefer to get back to actual "investing" though. Call me crazy.
Mannwich @ 6:19
"Call me crazy".
Don't tempt me.
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