Dear Readers, I could be out for couple hours. I hope to put the Attraction Points on the board before Leaving though. Please feel home and take an initiative to keep the board alive while I am gone.
Daily Attraction points for SPX are 1407 - 1365,45.96, 46.19
Intraday Apoints coming up
N QQQQ 45.31, 45,19, 45.0, 44.84 - 45.67,45.80
N SPX 1386,1384 ,1381,1379 - 1396, 1399
ENJOY!
13:06 ET, Q's at the 4th. could be going for 5th.
20 comments:
Boris,,thanx
old john
Dear Boris,
Just looking at the charts posted by Sang in the previous message makes me the following conclusions.
I think S&P could head a little higher . and the higher it goes...the RETEST which i have been saying will be HIGHER than previous LOW i.e 1270...
So just PURELY looking at the PATTERN......i think S&P could hit 1444 before coming down to 1327-1325. Also i don't think 1320 should be breached and pat 1600 by June 14th....
Cheers and a good day
Dear Pattern_Solver, wer are glad to see your update. you have a nice day too.
Good trading
Dear John,
good monring and good trading
Good morning all,
I finished reading Alan Greenspan's recent book 'Age of Turbulance'. I enjoyed it. His commentary was balanced.
Besides his pro-free market statments, his observations on two topics I thought I would pass on to you.
1) During his tenure long term interest rates (= inflation expectations) were driven down by market forces due to increased savings in developing nations and wage pressure on semi-skilled US workers from globalization. Developing nations save more because they remember inflation and hard times recently.
But he concludes that a shift might have started in which the developing nations might begin to spend more like 'americans' and save less. Wages will increase in developing nations, which in turn will increase US semi-skilled workers wages. Thus increasing long-term interest rates (= increase inflation expectations). All on top of a fiat money system.
2) China and Russia have gathered huge currency reserves to combat their own currency. China peg to the dollar. Russia sole export of oil, has made other russian export less competitive because russian currency has been bid-up due large volumen of oil transactions ('dutch-effect' on all mainly oil producing contries).
Social programs in Germany, France, and India, etc have restrictions on firing employees. Thus employers are reluctant to hire, because they can't fire the employees once they have hired them. Thus, most semi-social capitalism markets are doomed to stagnant growth because of government rules.
These were a few topics that I found most interesting. I recommend it. If someone wants the book, I'll mail it.
Good day.
"Social programs in Germany, France, and India, etc have restrictions on firing employees. Thus employers are reluctant to hire, because they can't fire the employees once they have hired them. Thus, most semi-social capitalism markets are doomed to stagnant growth because of government rules."
That is hilarious. Who's economy is on the ropes?
Talk about self delusional.
Ya it is funny. I guess the ropes are just part of life and the business cycle. It is a cycle.
On a more serious note; I guess Alan's comments centered around his observations that central planning hold no value (growth). So what degree are social program are justifiable?
1) Part of the observation is why is Germany's and France's younger population 'under-employed'?
2) Why is 45% of India's production made in shops with 9 or less employees? While in China & US the % is 45%. Maybe it has to do with India's law that shops of 9 employees or more have to obey certain government laws about firing people.
3) Why are there no property rights in Russia? And why doesn't Russia work?
The book's point wasn't that the US is better. He noticed a time in the 70-80s where the US de-regulated many industries, prosperity began to accelerate for all the world's humans. After what was shown in East Germany's central planning. But human get scared in the US, as well as other places, and markets go on the ropes and politician make laws.
His conclusion is that human don't like to loose their jobs. And in US capitialism some 400K people lose their job every week, because they are fired.
Maybe I insulted your economy, which I didn't mean to. But people sometimes think that government can solve market forces, like interest rates and employment, when in reality it is like what Darwin said. Not what the US said.
I do admit Greenspan is very American in his "dynamic" attitutude.
If he was military commander,it could best be translated as. "diplomacy never brings the best results and is time consuming. Far better to attack your neighbours, torture and slaughter them. Far quicker and faster change is achieved".
Come to think of it, isn't that the US attitude.
And never mind those homeless people lying about everywhere. We're not embarassesd, its their own fault.
If my grandmother falls down at home and breaks her hip and soils herself then we leave her there. It's her own fault, why should we have to take care of her, that will cause a stagnant household economy.
You have to be cruel to be kind. Maintain the purity of vision.
Brandon
You didn't insult me at all.
There is no "truth" is all.
I find absolutists so narrow in their views they can no longer think clearly or even change their minds.
If you can't change your mind then your brain is dead.
I am not having a go at you my friend, just the "gods" like Greenspan.
watch google here this could be big
500
Europe is as screwed up as US, but Europeans are brainwashed into believing that their system is better. This was the same way in USSR. It is a component of socialism. I grew up in a socialistic system and know all the pitfalls well.
Here are the problems that will take Europe down.
1. UK is just a mirror image of USA, and only worse.
2. Huge housing bubbles in Spain, former soviet countries.
3. Many European banks from Germany and cities/counties from other northern European countries invested in US subprime loans. So, European banks are as likely to fail as US ones.
4. People in eastern european countries borrowed in other currencies for their houses to pay less interest. This kind of carry trades by retail money always brings doom (Japanese housewives, e.g.)
.....just to list a few.
Germany will survive better than other countries, only because they did not get any housing bubble themselves. But Europe is no paradise.
Dear Brandon and Voltire, spirited discussion.
GREENSPAN is the embodiment of all that is worst in SOPTIALISM.
Good Trading
From a layman,
Greenspan gave us 2 bubbles that could have been avoided.
Greenspan was only allowed to hold treasury bonds in his personal account when he was the chairman, how much did he make when he drove interests rates so low.
Please dont tell me someone like him would not do such a thing.
old john
Dear readers, just on qucik remarks about SAVINGS that Mr G is mouthing about.
Total savings of the world amounted to nothing... almost ZERO in GOLD or DOllar terms, until the degenerate MR G took SEINIORS Social security and "spent" gave it to foreigners of all sort , so that they now can have savings , which are really my and your ( americans ) avings that AMERICAN SOPITALISTS have squandered, in IRAQ and POIZONED toys and other garbage from CHINA and INDIA , RUSsia and all the rest.
You see like energy being a constant value that can only be redeistributed, Savings in Reserve currency are/were constant, unless and until it was debased vie redsitribution to None Americans...
I have no problem with that, just as long I individually could control what happens to my savings in SS, but, you see MR G and all deranged of his kind made sure that i/we do not have access to our own savings...
Also defects from Wall Street benefited from all this circulation and transaction taxes have enriched the politicians of all levles from municipalities to central governments...
Well, If there is somebody that is telling the way it is... it is us. MR G can gloat all he can hes the worst of the charlatans.
Good trading
Boris
I was real short Friday and sold some SRS near the high.
Your sytem is on a sell--how much of a drop in your estimation will put it in the buy?
THX
Deae Lag on average MDS makes 30/40 points per trade. if so it would have to go down another 50/60 points, average loss is more like -20 points that would bring it downanother 20 or so...
Who knows. Highers loss is about 90 which will take upf the market about 40 points frome where we are now.
Take your choice.
good trading
Greenspan is the biggest crook of sopitalism. His book is to provide cover for everything bad he did.
Um, Pattern solver, I'm here to help, and 1630 by June will only happen in your dreams.
Dear Edwardo,
I do not think 1630 is in cards for June, but I do agree that there is a rally coming into mid year. I can offer some numbers on that... 1541 and 1575 are first and then if things go crazy it could get to 1673, close to Pattern_Solvers target. I think even 1541 is not very high probability...
So, could you offer your own numbers to make the critcism of Pattern_Solvers number more construnctive?
Good Trading
Sure, here's a number, buy and hold because the market is going well under 1100 this year. How's that for a target.
That would be hold short.
Post a Comment