It's bouncing. Stocks should go down now with gold, but never
count on that, that's a protected market. -g- They are way
overbought though. Yen should move up. Why? Euro/Yen carry.
Recession is the only thing that could cure high oil and food
prices. High prices cure high prices kind of thing. -g-
From latest Fleck
articles.moneycentral.msn.com
"An item that I felt folks would find most newsworthy is that
the president's working committee on financial markets, known
by some as the PPT, or plunge protection team, now has about
20 outsiders who attend certain meetings to advise the
committee. One of them is none other than noted short-seller
Jim Chanos, who left Grant's conference early last Tuesday to
attend a PPT meeting. In response to my question as to why the
committee had chosen him and others, he cited one reason: that
the panel was worried about adverse publicity and wanted to
communicate that there was no nefarious buying of S&P futures,
as is constantly rumored."
Sometimes it's the truth, but I found that whenever they try
hard to convince everyone something is NOT happening, it does.
"Subprime won't spread" - it's spreading. "PPT is not buying
futures" - PPT has been doing that for the last 5 years.
See that little 44 Billion buydown of US debt by the treasury
in mid- to late- September? -g-
Well, if they are trying to push tech futures to the moon,
maybe we should get on board? -g- Never mind earnings, those
did not matter for the past 10 years. |
