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Pastimes : The Philosophical Porch
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To: westpacific who wrote (5416)2/25/2010 9:59:13 AM
From: Rarebird  Read Replies (2) of 26251
 
Transcendental Market Truths:

Shanghai:

Shanghai is in a bear market rally which is weakening as more and more investors realize that the bubble has burst in China and the tide is going out. Like the rest of the world, China thought they could break the rules, but the rules cannot be broken, only delayed.

You may have to hold till the May timeframe, at which time the support line rolls over its highest point and begins to head down. At that point, the market should realize it has nothing but air underneath it. It also corresponds to peak dates for several other stock markets, including the US.

EUR/USD:

The Euro has been making some stabs at countertrend rallies, but each has been beaten back so far. The pattern is a consolidation ahead of new lows as the smart money around the world is forced to admit that the US Dollar is the real safe haven, not Gold. When the next wave down comes, the world's cash reserves are going only one place: the United States Dollar.
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