RSI on GS not weakening.

What does an Elliott "C" wave look like?

This is it.

Nevo

Your father was an extraordinary and unique light for many here. We were privileged over the years to have shared time with him.
Our sincerest regards.

Porter

I'm fairly certain Newly that Zeev would have stressed the word "our" rather than "mine" with regards to the turnip patch. He was transcendent in his kindness, in his consideration and in his tolerance for others. As a physicist and humanitarian he believed in a continuum of life forces and I believe that was apparent in everything he engaged in. In short, he would have handed you the baton for the next lap of the turnip race. He possessed a supreme intellect and was admired by all those who had the privilege of communicating with him.




It is time to make a toast to his fine life and the gift of friendship that he imparted to us all.

Rest in Peace dear friend.
Porter

A Congrat to Rozeff for the insight.
They intentionally didn't lower interest rates either. (The dollar is now front and center.)

The Boyz are busy shoveling as fast as they can.

<Let me get this straight...the recession is off?>

Yes. It's been delayed till further Dubai donations.

<So the NDX lost 26% for what?>

That was part of a coWRECKtion that is still onGOING. At 78.6% we break out the FIB charts and review it one more time. It takes two quarters of GNM (Gross National ManipulaSHUN) to cause concern but that concern arises only if you live on the west side of the Pacific Ocean.

"It's called the American dream...because you have to be asleep to believe it."

At least the weather is nice.
Break out the 3-0 reds!!!<g>

A quiet and pleasant(!!) weekend to all...including Maine.

-Porter


Our prayers are with you, Z.

<I wonder where this market would be without shortcovering?>

The market would not exist. Social and financial contracts work only when they run both ways.

P.S.
GS is finding resistance at the median line of the down channel. (It can still do 163 at the top of the channel.)

When are they gonna run it to my SnP 1625 I ask u?

"...and along came a spider and sat down beside..."

Cheer up.
You are in excellent company.

You need a hobby...drinking. And a mirror...to talk back to ...and more importantly, don't let the guy in the mirror get in a word edgewise. He thinks he knows it all.

You are the first angry plant nurseyman I have ever met. Didn't I tell you to grow bromeliads? Hey, on eBay it's $30 a pop while you wait for your biotechs to rise from the ashes.

TGIF.

GS is hugging the bottomline of its down channel. It's lonely and downcast... and wandering the urban canyons of Manhattan...in search of a financial fix.<g>

B--

C could ultimately trade at 5-7 in its basing phase which is still ahead of it.
I spent Thursday watching GS. It should find support around 150. It's obviously connected and well-positioned in other markets as well.
We still have a nice rally ahead of us.

--P

Citi must have listened to Paulson on NPR the other night.<g> It takes a while to understand that suggestions always precede trea$ury edicts.

The Boyz at DuBYE are mushrooms. They're kept in the dark and fed s....

Once again, the predictable and infamous...drum roll...DOW 12100. A crucial pivot.

I'd say an 8. There's Bud 'n Mary's Marina on the left, too.

When I head down to my ole' fishing grounds there I begin to display the "I remember when..." malady.

Watchin' SSO:
Should hold at 61.64 unless we do a 2.618 decline(rare).

OT If you're behind a Hewes add an hour and if you are pulling one subtract one hour.

Stop at Mile Marker 81 World Wide Sportsman (Islamorada) for lunch. (On your right going down.)

GOOG


Goog has two major business enterprises. The first deals with purchasing smoke from factories located in the Midwest and West. Its second enterprise is located in mainland China where it has six hundred and twenty-four factories that manufacture mirrors. Long ago, and with the help of virtual reality, it combined these two enterprises into S & M Inc.

<Really looking hard at balance sheets these days. CASH on them is King and my theme in 2008.>

Back to the future: years 1973-1974

Westy

Thanks !! for the heads up on JJG.
Looks like natural gas is awakening from its slumber.

Porter

<This is an amazing statement that only Warren Buffett could get away with.>

Why is it "amazing" and what is he trying to "get away with"?

Regardless of storms, premiums will rise if their "expected return" on investments(equities) decline. This was explained to shareholders, by the board member, E. Nuff Already, at last year's annual review.
Buffett is a Capitalist and not an eagle scout, even though, some would say his inSIGHT does give flight to others. He has KILLED the muni-bond market for existing competitors with his offer to "help."

Lastly, Buffett is a Social Darwinist in the corporate boardroom and before this financial debacle is over he will be regarded as the fifth horseman by those he seeks to depose.

Re: JJG

Looks like it's setting up for a correction.

"...31%"

I had it at 7-11%. Are we talkin' six months from now about a BLT and hold the bread? <g>

N

SL may have been alluding to whether you were at a full stop or whether your car was in motion. Some States treat them differently.
When I was hit from behind a few years back I was stopped at a light. When I inquired a week later as to the status of the claim I was told EACH OF US was covering his own claim. Apparently the driver behind me told the attending police officer that a THIRD car had hit him from behind and then had sped off. I was NOT aware that he had given this statement at the time of the accident. My agent didn't want to pursue it any further but I did. I reached the other driver's agent on a pretense and poised to him the following question: "Had the other party within the past two years ever been in a similar accident?" Two weeks later my agent called to inform me the other insurance company was reimbursing us for our repairs and that the other driver would no longer be covered by them.
On occasion the system works.

P

You're correct, but, with everyone seeing them now, you are being forced to front-run them.

If we have a gap opening then it's an impulse wave 3 up and we can pick up the count from there. More than likely a day of distribution from there.

Not for the faint of heart.

Descending triangles.
The rest is noise...but interesting noise.

L

Watch the volume as it approaches DOW 12100. It's been an important pivot.

It looks like my SnP 1425 will have to wait till the Chinese come to dinner.

Boone Pickens danced on everyone's head yesterday. If you thought he was dangerous when he was younger...

P

Thanks, Lee.
When you occasionally stop trading I take notice. <ng>

lee

r u noticing any difference in the volume to the upside or downside or is it about the same?

P

Are you still 120/80 ? :)

ImmmpeccaBULL.

C

Have you considered that a Deflationary environment rather than an Inflationary environment is down the road. I'm familiar with the I-argument.
A Russell Commentary was posted earlier. The real issue is which force will dominate the other. Will a massive credit contraction and housing price deflation overpower rising commodity prices. Coxe's cogent argument is that China and others are going to sustain the demand for raw materials. If that is the case then their stock market will decouple from ours. Do you believe that will happen? or, are we all economically teethered together?

P

Congrats.

Bernanke = Japan II

http://www.dryships.com/index.cfm?get=report

Watchin' mode.
More back-fillin' needed.

i know i need a new set of glasses 'cause i keep on seein' double....


http://finance.yahoo.com/q/bc?t=5d&s=FXI&l=on&z=m&q=l&c=qld

i know i need a new set of glasses 'cause i keep on seein' double....


http://finance.yahoo.com/q/bc?t=5d&s=FXI&l=on&z=m&q=l&c=qld

Interesting stock. Thinly traded though. Today's action: compelling.