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There is no buy signal yet..OEX 505 is a reaction bounce....
2bit
You, looks like it OEX 505 good support target reached..
2bit
Thanks, Foot
2bit
thanks in short
2bit
That would be more than .78 Fib retrace...from Mar low
2bit
I kept away from trading because all my indicators are not in sync. It seems like the general public wants up but the major players are bailing. I need to see a more definitive move one way or the other before I commit. However, oil is down trend that says a small retracement before another rally...
2bit
Do You have a link somewhere for Bradley Model...
2bit
Eod indicators say it will drop down to 505...spx 1085
2bit
Bradley 2010, anywhere... anybody...
2bit
Dont pamper him too much, else he thinks he is invisible...playing both sides of the market is not for the average Joe the plumber...
2bit
You, pretty soon the market will decouple from the dollar, todays subsequent fall is due to rise in dollar and fall in oil...but I see employment getting better and long term the market is still up...
2bit
Bing-ga-boom...out of my calls and take the day off...
2bit
Dow futures continue to climb now 140...can you say cup&handle OEX 570....
2bit
Woohoo Dow future jumps 110....told you guys to buy the dips....good unemployment no.
2bit
Just cannot leave the board alone to you guys...away for a day or two and saw you guys replying to a deleted message...I guess the market must have been boring ha....
Well back to business, I did my homework today...just could not believe my eyes...it looks like the market is on another leg up...if I remeber Bradley Model has indicated a meagering up in Dec, TTheory has already indicated another up T, now my AD study confirms it...throw away your Charts, Fibs and Lies ...just buy the dips...
2bit
I do not blame You, I am being forced back to day trading now...I made enough for a McDonald meal today..LOL
2bit
Fed Audit Would Hurt Economic Prospects: Bernanke
Published: Saturday, 28 Nov 2009 | 12:24 PM ET Text Size By: Reuters
U.S. Federal Reserve Chairman Ben Bernanke said congressional proposals to audit the Fed and strip it of regulatory powers as part of post-crisis reforms could damage prospects for economic and financial health in the future.
"These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States," Bernanke wrote in a column posted on the Washington Post's website.
The rare newspaper column by a Fed chairman comes shortly before Bernanke testifies before a Senate panel on his renomination to serve a second four-year term at the helm of the central bank and answers a series of steps on Capitol Hill that could diminish the central bank's role.
Lawmakers are angry with the Fed over its emergency bailouts of major financial firms and its failure to prevent the contagion of mortgage delinquencies that crashed the financial system.
A proposal to audit the Fed's monetary policy deliberations won a committee vote recently over the objections of House Financial Services Committee Chairman Barney Frank.
Frank's Senate counterpart, Banking Committee Chairman Christopher Dodd, is himself the author of a proposal to consign the Fed solely to making decisions about setting benchmark interest rates.
Bernanke, in his column, conceded the Fed had missed some of the riskiest behavior in the lead up to the crisis.
But he said the Fed had helped avoid an even more damaging economic meltdown and has stepped up its policing of the financial system.
"The Fed played a major part in arresting the crisis, and we should be seeking to preserve, not degrade, the institution's ability to foster financial stability and to promote economic recovery without inflation," he said.
Bernanke acknowledged that lawmakers are responding to public anger over the government's response to the turmoil.
"The Federal Reserve, like other regulators around the world, did not do all that it could have to constrain excessive risk-taking in the financial sector in the period leading up to the crisis," he said.
However, the central bank has moved "aggressively" to fix the problems, Bernanke said. The Fed's knowledge of complex financial institutions is invaluable in supervising them, he said.
The Fed's ability to slash interest rates to combat a recession without fueling inflation depends on its political independence he said.
Allowing audits of its monetary policy — as proposed legislation would do — would increase the perceived influence of Congress on interest rate decisions, he said.
That, in turn "would undermine the confidence the public and the markets have in the Fed to act in the long-term economic interest of the nation," Bernanke wrote.
Frank has said the audit provision is likely to be revisited as legislation winds through both houses of Congress. Dodd has said his proposal is a starting point for debate.
This is a good read from Evil..
2bit
http://evilspeculator.com/?p=13099
TWO, that is why I manage my own money....it was so clear that the wedge was there...it was meant to come down..Dubai or no Dubai..it just hastened it..the fund managers do not give a shit about other peoples money....I guess I was vindicated today...I was hurting last couple of days because of those monkeys...
2bit
Closed my PUTS...and I will be back.....
2bit
NM, good show, I am sure you will pull out of this...keep up the spirit...
2bit
Palisades also egg on face, I use them for entertainment...
2bit
NM, are you Palisades Research by any chance...
for your eyes only ...ouch
Comments: November 25, 2009
Current position 100% Long: Rydex NDX 2x fund for Friday. As the volatility falls we are able to increase our leverage on what we feel are our less risky trades. Doing this provides a more uniform daily level of risk. And a better overall risk reward ratio. The markets close at 1PM Eastern on Friday with the Rydex funds closing at 12:45.
2bit
I think that is what Prechter predicted and someone is out to get the Russians...LOL
2bit
Wow, Nikkei down 200 and Hong Kong down 600....
woo hoo
2bit
I guess Thanks Giving day has provide a safe haeven for avoiding market onslaught..DOW futures down close to 200 points....
2bit
Let see if it fails out of the wedge today....a sea of red for Asia and Europe..Futures fair value down 13 at time of writing
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Ha, I just got back from the Gym...go there alone of course...funny your wife would ask you to come along...LOL
2bit
The Russians today openly dumped the USD for Canadian dollar for their basket of holdings...looks like the market will rally some more....
2bit
ur probably right..but also bear in mind that all these economic good news did not power the market higher either..
2bit
I could not believe the OEX Puts are so cheap...
2bit
Sequence of events...TSS, inside, inside nr7...market about to break out ...I will be very surprised if it breaks out to the upside....but it happened before...
2bit
I still think the down side probability is higher...Turtlesoupsell signal yesterday and an inside day today plus this is wedge forming....
2bit
Ya right...I think my beard will grow faster than the stock..LOL
2bit
Technical analysis 101...do not touch any stock under $10...they are down there in penny stock country for a reason..
2bit
It is a SPAM if you say you gurrantee it...there is no gurrantee in this market..LOL
2bit
The TTheory will be wrong about Nov, for it will go down to end of November, whether it will rally in Dec remains to be seen. The TTheory guy keeps changing his Ts, after 30 years he still has not gotten a handle ...his theory remains to be proven..
2bit
Thanks, Two...it will be interesting for the TTheory folks expect another leg up till next year...
2bit
I heard rumours that Prechter just gone 200% short...true or false..
2bit