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Golfinvestor

11/06/07 1:47 PM

#12021 RE: POKERSAM #12020

Not until Gleno34 covers all his shorts and goes 100% long. <ggg>
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Beerworld

11/06/07 2:54 PM

#12024 RE: POKERSAM #12020

Of course I have an opinion but it's not worth much in this market. You know I am partially a TA and partially fundamentals. ALL and I repeat ALL fundamentals to me point to a substantially lower market BUT!!!!!! The amounts of liquidity and the powers that be just don't seem to have any interest in being logical or even economically sound. Historically as you have pointed out the lowering of rates is more often than not followed by at least some kind of recession. Besides the fact that the lower rates are producing the rises in almost all commodities. But does it matter the government still seems to be able to come up with no inflation. I know I see it and feel it. Less than 10 days ago gas was still $2.84 and today we have $3.15. Gee my math says 10% up. Food is through the roof. I guess people no longer eat or travel.
Stocks and analysts lower expectations so much that even the worst companies can then beat these expectations and be rewarded. This is not what I have learned from experience but seems the norm now.
Technically the market is constantly over bought but works it off with single down days.
What am I doing? scalping but I keep a handful of puts for the day of reckoning.
JMHO
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Nirvana

11/06/07 3:22 PM

#12025 RE: POKERSAM #12020

Downtrend over

SPX double bottomed at 1490, imho .... next stop 1600+ and could happen by end of this month.

See everyone then.