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Strategies & Market Trends : News Links and Chart Links

SPXL 222.46

-0.9%

Dec 8 4:00 PM EST

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To: compradun who wrote (7657)	6/9/2003 1:43:09 AM
From: Chris McConnel	Read Replies (1) of 29602

(market vane chart) Nationalist Weekly Market Commentary For the week of 06/09/2003 Still on the road so no extensive chart commentary. Most people think that a market can be judged "overbought" based on price movement alone. Wrong! Tonight I show you the family jewels - charts that show you when the NDX is overbought, as it is now. The two charts replace the M3 and Base charts. Next, allow me to warn once again that the ^irx looks like it is starting to move north, indicating what is obvious to me, yet seemingly not so to the street; namely that the gummint is going to crowd into the short end of the curve, flattening it and eliminating the surf, the surfers, the roll downs, and all the other fun and games that keep those with access to serious credit from having to work for a living (naked directional rate risk is work, surfing ain't). Call it a deadly calm. The entire financial industry makes its living off the surf. We have a pile of over 60 trillions in rate derivatives that depend on the surf as well. Of course to hear the street tell it, everyone is 100% hedged! Ain't no skinny dippin anywhere roun' this 60 tril water hole, nosirreee! Get the hell out of the financial sector on this rally! home.ddc.net

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