Oh yeah, you have to love Paul. You know what's funny about him is that during the Republican primaries where he was running for Prez, he was laughed off as the 'mad professor'. But now boy has he turned out to be dead right about just about everything. He's no dummy and truly gets it. So he's going to be fun to watch. It seems that Obama is starting to come around to the biz community and they are all in cahoots with Wall Street and especially the large banks. They don't want to change things one bit and guys like Paul are very dangerous if he starts to get traction. We'll see how much power the Tea Party ends up really having because it's already starting. This tax cut extension bill is now turning out to be a joke filled with spending and earmarks and that was not what it was about and the fact that Obama is touting it as is says tons about his about-face.
Can you f'ing believe TYO? 1 friggn' day from this we sold out. If they didn't add the 7 year, it would probably be over $70 right now.
Damn it!
I hope you got into MNKD.
As for the market, I made a huge mistake in Aug. Most have come to follow me from my cycle predictions over the years and foolish me wasn't following my own advice. The cycles have this quarter as THE strongest of the entire 16 quarters of any Prez cycle. That's why the market was never going to break down out of that large head and shoulders at 1040. Now next year gets interesting because it's the strongest year of the 4 years, but by miniscule % gains, which makes me think that most of the rally has probably been seen. But there's clearly more to go into about April/May because the breadth indicators like the bullish% charts, Mc Ocsillator, and 50 day MA% charts of the SPX are not yet extreme like they ALL were in April this year. But man look at the put to call chart. Yowza. That's screaming top here.
So, expect more upside, but limited into year end, if not a beginning of profit taking before a rally from mid to late Jan to April/May.
Honestly, I think we get a near carbon copy of this year. The good thing for us is that now we have clear setups with wave counts setting up for monster trades next year. No BS this time.
AI
