Glad to see we've got ABX voted into an uptrend. <g>I second the motion on HM. Got a little of that too.
The Replaying 1929 man sez Japan is about done with their rally in an 'ewave' setting: urbansurvival.com
>>There's not much hard factual stuff to point at yet, but both Brazil and China (not to mention Boris in Russia) are having a hard time with trade figures. China's exports aren't healthy, at least in terms of being on the People's projections. Thus, helped along by declining increases in foreign investment, it seems likely that China will soon devalue. When this happens, it will put the nail in the brief
respite the Japanese have enjoyed. I expect the Nikkei will soon resume its downward momentum because it has, in Elliott terms done an a-b-c-d-e down from 23,000 in mid 1996, and has gone through a correction of 1-2-3 which is now looking completed. This clears the way for more downside. China's economists will no doubt see the "Setting Sun" weakness and exploit it, as there are two important lessons of history. First, when the world blew up (financially) in 1929 with the US crash, there hard already been more than a year of "troubles in the provinces" reported, in particular from the Dutch East Indies. Then, as now, we ignore the news from the provinces! Today, we are coming up on that year of fermentation while the next
strom front gathers offshore.<< |
