At best a double top at 14,022
Just do not see how the inflation factor, the oil factor, the non-ending subprime factor gives us much more. Not to mention the IRAN factor, the China dollar holdings factor......the YEN carry trade, you get the point. Let it top, forget chasing it. The cycle work has topped, they know it and thus the .50 cut - will it work, delay it at best.
Lets wait for more bad news to come from the banks, then lets see how it reacts.
Or the channel just above that number at 14100ish.
After Options X, and retest of highs - we meander at best.
Still watching many bearish charts as of today. In sectors that have not yet broken out. Play the chart, forget the BS.
Watching Financials, Basic Materials, Ten Year Note, Bonds and Yen.
FED trying to engineer a hyperinflationary spiral into a deflationary cycle, risky bet.
Once again we had the casino bet to profit, long or short into FED meeting. Some won, some lost - no one won, only speculators.
Me - sitting on sidelines and getting poorer. Either that or gamble and most likely grow poorer. What a free market we have - nice is it not?
Casino Economics, like the race track.
West |
