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Is the daily chart rolling over a bit ?
As usual a bearish slant on everything. Notice the " dumb" money peaks throughtout 05-07 and you'll see they were CORRECT in staying long. So much for dumb money. From that chart I'll follow the dumb money since they have been correct. Show me a chart with corresponding articles from zerohedge and we'll see whos the smart and dumb money. Pretty arrogant from a blog thats been consistently wrong, wrong, wrong to disparage others. The kettle calling the pot black??
Lionhead - you are no doubt infinitely more knowledgeable than I in technical analysis, but I have gotten used to seeing TT's metrics and consider them relevant to seeing if a change has occurred or is occurring, so I'd say keep 'em coming under the no harm rule. While I am at heart - foolishly it seems - a fundamentalist, I have succumbed to the notion that technical analysis can provide explanations of equities market behavior I cannot otherwise fathom.
Ned Z, TA gets a bad rap from most folks because they don't understand the tenets & principles. Using more esoteric metrics compounds the confusion, so some folks are going to discard TA unnecessarily as voodoo. I would like folks to see the basics presented in a easy to grasp format without all the opinion, & analysis of ifs, ands, or buts.
If you think that's impossible look here:
Clean, and straightforward. Each person can add their own individual fundamental view to decide on the interpretation of what lies ahead past the hard right edge of a chart.
As far as stock prices & valuations, unrealistic and improbable prices arise over time in the same fashion over the past 100 years. What we see today is no different from the pricing valuations of the past. IOW, there's nothing new under the sun in our modern age.
ttt, your reliance on these metrics is becoming annoying. I suggest you read the basic tenets of technical analysis (TA) by Edwards & Magee:
Folks here at ZH are basically fundamentalists. Pitching sentiment to them is unproductive as their sentiments are 100% in opposition to what your metrics show. Please go back to the basics in your presentations of TA IMHO.
The dumb $=public
New York City government is so overwhelmed that it is paying $90 per night per apartment to rent unsold new apartments for the homeless. Desperate, the city government is offering one-way free airline tickets to the homeless if they will leave the city. It is charging rent to shelter residents who have jobs. A single mother earning $800 per month is paying $336 in shelter rent.
The political system is unresponsive to the American people. It is monopolized by a few powerful interest groups that control campaign contributions. Interest groups have exercised their power to monopolize the economy for the benefit of themselves, the American people be damned.
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