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Investor Sentiment: It Would Be Better If...
It
would be better if prices on all of the major indices: 1) decisively broke
their 200 day moving averages; 2) closed below weekly support levels; and 3)
closed below the February, 2010 lows. It would be better if the prior week's
pullback, which morphed into this week's "correction", actually
caused investors to utter the "b" word -- as in bear market. It would
be better if investors had their spirit's broken as investor sentiment actually
turned bearish (i.e., bull signal). But none of this happened, and what seemed
scary last week really wasn't enough in my opinion to produce a lasting and
meaningful bottom. So if prices go higher from here, we will have the same old
story of a market: 1) that went down for a week or two; 2) that got everyone
worried ~ “oh my god, a 10% correction” from ridiculously overbought levels I
might add; 3) that will be bid back up rather strongly; 4) that will make
investors forget about the prior week; 5) that will be sold rather abruptly
again. This kind of price action, I am convinced, is consistent with
distribution and a market top. The best market bottoms occur when investors turn bearish, and this has yet to
happen.
{To view larger charts, just click on the figure}
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By the way , Banks own Gov'ts , banks are no longer controlled by gov'ts. All the jostling and regulation talk is just a dog and pony show for the sleeping masses , who get all their info from Headlines (Headlies). Invest without the use, of the MSM , and you might have a fighting chance at gaining useless profits in a ilusionary economy.
There is to much inflation in this economy, for equity prices to remain low. I still see another Bear market , bull run on the way. With the current worldwide Fiat currency situation at extremely unstable levels , you are still better off in manipulated equities than you would be in cash. If you dont want to play this rigged game anymore, than of course Ag, Au would be your best wealth protection instruement.
The March 2009 lows won't hold.
Updated DOW daily and weekly charts:
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
Bush tax cuts just kicking in !!!!!!!! GDP to the moon !!!!!!!!!!!!!!!! lol !!!!!!!!!!!!
This investor's sentiment would be better if...
1. Credit markets were controlled by more than just half a dozen banks and one or two investment banks. (or even better, not controlled by anyone)
2. Congress wasn't on a reckless path to spend my great-great-great-great grand-kids well-being in an insane, foolish Keynesian boondoggle.
3. Equity markets were more transparent than a concrete wall.
4. Central banks around the world didn't feel compelled not to let anyone or anything fail ever again.
5. Freddie Mac and Fannie Mae were forced into liquidation and Treasury stopped hiding its GSE obligations like an Enron off balance sheet entity.
6. Someone other than a naive, meek, socialist who never had a real job in his life were President of the United States.
7. Unemployment were at least a bit lower than U-6's 17+%.
8. The Federal Reserve were on the hook for a few trillion fewer toxic assets.
9. Analysts stop comparing economic data to last year, and concluding that everything is now just fine.
10. Greek public employees would stop bitching that there are no longer 14 monthly paydays in a year.
11. The Treasury didn't have to auction $40 billion in t-bills every day to keep Jane and Joe six pack stocked with smokes and food stamps.
12. More than half the people in America actually paid some federal taxes.
13. The Administration would stop destroying contract law and giving away bankrupt car companies to its labor union overlords.
14. I wasn't forced to buy a product (insurance) by the government or risk fines or even jail.
15. Congress wasn't planning a massive energy tax (cap & trade) so they can have a giant slush fund to spread around to their friends.
Fix those things and I'm all in the markets.
Simple fix....Just default on all the debt and start from scratch.....It's the new American way....NO!??
So I take it your next market moves will take place sometime around 2067?
we are a long way from a market bottom. however, all bear markets have more up days than down days and can have viscious rallies killing lots of shorts. FinReform.. a known. ECB... pretty much a known.. Economy still showing false improvement...Still lots of money out there and many players trying to make money. Big bounce for the week? Thats my call.. maybe even 2-3 weeks. We shall see. Then..down..down. up.down.up.downdowndown.up.downdown,etc
HEY! I'm long since Friday. Give me a break!
The game is rigged. Rules no longer apply. The machines run the show.
http://mappingthefuture.csis.org/tiananmen.jpg
Just make sure you're on the right side of the "rig".....
As long as it isn't from Transocean...
Dude, they said they where sorry! What else can they do to prove their point?
He who is without sin, throw the first tarball...