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Politics : Welcome to Slider's Dugout

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From: SliderOnTheBlack	11/20/2007 5:57:13 AM
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Turkeys, Yen-carry, Cranberries and Gold... Had to get up at 3 a.m. to be out the door at 5:30 a.m. to beat the thundering herd to Chicago O'Hare, so just a couple of quick thoughts... 1. Remember, there is "no battle" to be fought from HUI 370-380ish to 450-460. It's low reward- high risk, volatile trading territory...and you should already have it safely in the bank. 2. Let the enemy continue to make his mistakes... They're just coiling the spring for the next move. 3. Bernanke & Paulsen are still relying on the LIE formula (Liquidity + Intervention + Exports) to keep the markets propped up. 4. Neither Bernanke, or Paulsen have found "Sound Money Jesus" and the inflation wizzard is still large and in charge - behind the curtain. 5. Watch the Dollar:Yen. 6. HUI 370-380 which was resistance for the prior 15 months, must now hold as new support. 7. Sell puts to fund/discount your re-entry buying into this pullback. Re-entry here into HUI 370-380 and below seems rational... start s-l-o-w and g-a-p your buys. Use calls to limit your exposure and to leverage your upside. Options are great for re-entries. 8. Hopefully you've used this time to go back and scrub & polish your watch/buy list. 9. If the Fed cuts in December matters not...more cuts are coming. The Dollar fell too far - too fast and Yen-carry shakeout and commodity pullbacks post G-7 meetings have not been unusual. As has been continually pointed out - 2008 is an election year in the US of A...so, remember to: "Watch Out - for falling Dollars." The US Dollar @ 72 remains the "whisper number." Traders are "not" being one-sided on the Dollar trade... they're just helping give Paulsen and Bernanke what they want... a competitive devaluation down to USD 72. Ron Paul dressed down Bernanke and the G-7 dressed down Paulsen... so we got tough talk, press conferences, more tough talk and a little dollar bounce from the Yen-carry shakeout. Bernanke - sound money/Paulsen - strong dollar? I think not. 10. Enjoy Thanksgiving. Go easy on the Turkey & Cranberries and go heavy on the "thanks" part. This weekend we'll take a look at a few charts and try to separate the pretenders from the contenders. Mo later, Happy Thanksgiving all... S.O.T.B.

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