The CEO of DeutcheBank says it has no further undisclosed exposure to subprime, the asset backed commercial paper market is stabilizing, and credit markets are returning to normal. The stock is up solidly in Europe.
W "might" be making progress in North Korea. We''ll see. It's not over till it's over - I really dislike politicians making premature claims of success.
I suggest we pay attention to the Party Congress in Red China in October. We all might learn something about how that government is actually run. Those familiar words, "Politboro", "Central Committee" and the like have already been in the press. Is it a developing peaceful nation or is it something else? Pay attention to what is actually said and done, and don't succumb to western wishful thinking ... that is, be an exegete, not an eisegete ;-)
Golly, wheat is over $8 - this is more 1970s redux. Oh well, I had that one but got out what I got tired. A missed opportunity. :-(
Oil seems to have rejected $70 on the downside. Oil stocks are well off their highs. XLE closed over its 50 DMA and over the break point of a small bullish cup and handle formation.
XLF has a ragged inverse H&S or W formation. All that volume at the recent low suggests that was a turning point.
The S&P did make a close over the downward neckline of its inverse H&S pattern with higher volume [not absolutely high]. I'd like to see a second close here.
The woods are full of bears and they want food. So an attack is likely. Wait for dips to add - they'll give you one.
PS: Gold is at 688 this morning; approaching $700 and no one's noticing. Good!
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19 comments:
Cold war posts....politburo...central committee......haven't heard about those since the 80s. Bman its 2007. Wake up!!!
Uh Bud. Those words were in the WSJ article about that meeting in October. They exist in Red China. Wake up, Bud! ;-)))
Did frosty's boat sink?
rofl WSJ.....another bunch of right wingers still fighting the 80s cold war
sheesh all these rich bastards on Bubblevision wanting to give the common man more pain. Grrr.
Supposedly smart people can't seem to make a distinction between the speculator/investor and some guy who got duped or just had big dreams.
I say take it out of the hide of the beefers.
Real buyers are working today.
yes, these slow moves are how they add.
real buyers indeed Bud...those record put rolls into sept are working well...decided to cut my trip short and come home this afternoon.
Bud where is that darkside list....last time we started with refiners.
Spinny...gap me.
Bunkerman...is an inverse head and shoulders the pass line?
the gulf stream came wihtin 30 miles of the wa. coast so we ran for tuna....nearly 300 lbs.
Welcome back.."BIG TUNA"...lmaoooooo...new nickname alert!!!
..the sea was angry that day my friends......
...like an ol man returning soup at a deli.....
indeed angry...as I looked into the eye of the giant beast...ahoy gerogey boy.
did you club Parcells or shoot him when ya got him in the boat?
big tuna...lol...I let the deck hands take turns with him....not that there is anything wrong with that.
Bunkerman...if you called the botton in the financials, I will start stalking you instead of cramer...shouldn't be hard, your bunker is near enough to a mcd's it shouldn't be hard to find :)
Bud...where is the list...have racks of chips...shuffle and deal already.
yeah, pass line with full free odds backing it. I think the inverse H&S is low risk "bet" here.
Hmmm frosty, Ft. Knox is easy to find, too, but hard to penetrate ;-))
thick woods, wire, dogs, swamps, mud pits, sniper posts, silent alarms, motion detectors ... very tough. hehehehe.
I think I'll borrow from Churchill re the financials bottom:
It might not be the final bottom, or the beginning of the final bottom, but I think it's at least the end of the setup for the final bottom.
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