I am going to initiate shorts on the S&P 500 on a break below 1,271. That looks like it should be support and it also coincides with an uptrend line. Breaking that level should lead to accelerated selling. If we start the week with a bounce, then I will be looking to SELL that bounce, using 1,295 as my resistance/stop level.
EGYPT
It's interesting how "bent out of shape" folks here became over "heated political rhetoric."
"Why can't we all just be a little nicer--and, have some nice civil political discourse," some people wondered....
They obviously didn't get that message in Tunisia, and they're not getting that message in Cairo.
With rioters openly defying curfews and the Nation facing dwindling food supplies, it seems like strong man/dictator Hosni Mubarak is on his way out.
In the 1700s it took years for the Revolutionary fever to spread around the World. With the rapid pace of communication today, and the ability of using the internet to organize quickly, we're seeing multiple Revolutions in the matter of a few weeks. What an amazing moment in time.
For some reason, this doesn't seem limited to Tunisia and Egypt....
10 comments:
good post Andy-
I have been wondering why the different sides in Egypt just don't sit down over a cup of tea - and settle this . . .
you know- civil like- why all the hostility? I'm sure Palin has something to do with it
also . . .I have heard that since the shooting in AZ- that Japan is considering changing the name of the Bullet Train to the Wizard Train-
might just be a rumor though
Indeed Ahab.
What drivel that was....
Politics have always been messy and mean. It's never been nice. That's because it usually involves one group taking something away from another group. People tend to get pissed off when that happens.
You know the forefather of the Democratic Party was Andrew Jackson, aka "Old Hickory." He was named "Old Hickory" because he beat people up with his walking stick which was made of Hickory wood.
Andrew Jackson was involved in at least a dozen duels. Though, he only killed one man.
Nice.
This guy might get beat up with a hickory stick on his long position... we'll see...
"...You know the forefather of the Democratic Party was Andrew Jackson, aka "Old Hickory." He was named "Old Hickory" because he beat people up with his walking stick which was made of Hickory wood..."
AT,
you have a cite for that?
b/c, you know, if I were a gamblin' man, I'd be laying Odds that that's 'apochryphal' ..
just sayin' :)
AAIP
...General Jackson emerged a national hero from the War of 1812, primarily because of his decisive defeat of the British at the Battle of New Orleans. It was during this period he earned his nickname of "Old Hickory." Jackson had been ordered to march his Tennessee troops to Natchez, Mississippi. When he got there he was told to disband his men because they were unneeded. General Jackson refused and marched them back to Tennessee. Because of his strict discipline on that march his men began to say he was as tough as hickory and the nickname stuck....
http://web.archive.org/web/20110131044033/ncpedia.org/biography/jackson-andrew
that's the 'classic' story behind the appelation..
This site has a bit of "fun" with Andrew Jackson being a badass, but your point is well taken.
He was known as "Old Hickory" because he was know as being "tough as Hickory." The name endure, though, because he actually did beat a few people with his Hickory cane.
That's "sort of" true...
Just sayin'....
http://www.cracked.com/article_15895_5-most-badass-presidents-all-time.html
Andrew Jackson, the father of the Democratic Party, was also responsible for removing a bunch of Indians from their homeland....
I'm married to an American Indian woman and thus, have 50% American Indian children...
But, I won't hold it against him....as it's difficult to measure a man by a single action, especially during "different times."
AT,
is her name Ember?
AAIP
Very nice work here AT, looking forward to this week. While the DOW might not be the best for wave counting for various reasons I'll be watching the 30 stocks in the DOW this week for signs of topping patterns within some of the most widely followed names, this would be another indicator your wave count is on track.
and also, you gonna share this big news from last week or keep us all hanging?
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