Haim,
Great site. I'm readily aware or the current daily and historic crude oil data. Also, I'm not pinning any hopes on anything except that hurricane Georges stays away from my area. I don't care what Greenspan says or does, I bought over the past two weeks at cheap prices and I like the action that I see. If he does lower rates in a month or two, that would probably be the top of the rally and I'll be getting short. But, I can only look around one corner at a time.
I'm bewildered how the markets could go higher in the face of global economic problems, but I don't use "what if" scenarios to guide my investments. I'm strictly technical in my approach and believe that everything I need to know is indicated in the chart as a function of time and price. For the past 30 years, that had served me extraordinarily well. In fact, yesterday was a critical time for the markets and if AG didn't speak, the rally would probably be credited to the Clinton tapes being less problematic than earlier. Who knows? I don't factor things like that into my formulas.
I can hardly wait for the oil ministers to meet. That should be interesting. As for a rate cut in the cards, I suspect Greenspan is only sorry that he can't raise rates at this point.
I'm not married to any stock purchase, they are cut loose when I see any cloud on the technical horizon and none of my trades or longer term positions are ever based on what anyone says. I don't hold gurus of any sort in any reverence whatsoever. If I did, I'd probably be broke. Meanwhile, let's see what happens.
GZ |
