H+S pattern hit the target this AM on the nose, 27.19/QQQ.
Greenspan: I was hoping he wouldn't come out of anesthesia, maybe some kind of permanent haze. Would serve him right for all the BS he has spun in Congress over the years.
My favorite yesterday was an answer to Florida Congresswoman's question, " With seniors gunshy of equity markets, and yields so low on bonds, what allocation or advice to you have for retired investors"(paraphrase)
Greenspan reply: Financial advisors too often give similar allocation and general investment advice to all age groups, it should be individualized, taking into account age of investor
Greenspan reply under truth serum: "Do you really believe,after I have ground down short rates to real zero levels, and will push down more, as well as my bud, Bernakke's plan to put pressure on long rates with Fed purchase on long bonds, both Fed and corporate, that I give a damn about you and your silly retirement quandry?
Get real. I serve the Banks and Brokers, get used to it"
James |
