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To: CharlieChina who wrote (279819)	3/11/2004 7:28:19 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 436258

Nicolas I already see the numbers. No psycho babble required. After years of trading in equities and futures, nothing surprises me any more. I go long when its time to, I happily go short when the direction is down. What surprises me is that you are still long NVLS given the easily spotted wedge, a Long Spike trap, and the resulting quick break down to T1, and the bonus short round. trendvue.com This is all classic, "trader grade school", stuff. By the way, going long on Feb 17th (per your web site) off the inside day in an upswing is not bad trading instinct; however not closing out the trade at a profit is a crime. Perhaps you did, perhaps you didn't. But dreamy predictions of future price points years off into the future are completely pointless in my considered professional opinion. Furthermore, buffing up those predictions with dreamy new-age talk is a waste of time and an insult to people's intelligence.

To: CharlieChina who wrote (279819)	3/11/2004 7:46:09 PM
From: Michael Watkins	Respond to of 436258

Here's a far better example why psychobabble, and price prediction doesn't cut it. You picked an entry day for a decent risk/reward "trade" - and mess it up by believing prediction BS. Quotes on the chart are my interpretation of your meditative state as trade progresses. Ballard Power BLDP: trendvue.com

To: CharlieChina who wrote (279819)	3/11/2004 8:09:13 PM
From: Secret_Agent_Man	Respond to of 436258

GATA’s Mike Bolser: Hi Bill: The DOW finally responded to the Fed's wishes and fell exactly to its "appropriate" trend line,ú the one that puts it on 11,750 on Labor Day. Ofcourse the day-to-day action will somewhat mask this planned track. I keep emphasizing the value of appreciating that day-to-day action in the DOW calls into play more and more Fed response if that action is headed in the "wrong" direction. The repo pool pattern for this last phase is example number 1. Too high can be just as bad as too low. By adding $17 Billion in temporary repurchase agreements the Fed caused the repo pool to rise a bit to $31.75 Billion and also to keep rounding off the pool's 30-day moving average bottoming pattern (its almost tracking level). The latest Fed force application, lasting weeks was a long and persistent move that eventually took effect. Now, we must watch them closely as they attempt to regain better a management grip on the DOW. I would expect more volatility from the DOW during the current phase correction back to the trend line ( It tracks wobbly at 10,240 at this hour). However, there can be no doubt as to the desired trend line for the DOW as it is made to fulfill its role in the Fed's grand inflationary theaterúthat role is one of masterful diversion. Even as the government has delayed the inflationary PPI report, juiced up the GDP with steroid-like hedonics and coached the Wall Street journals never to report the truth, the Fed's most important player (actually a cadaver) is dressed up to prance around drawing attention away from a dreadful reality. The DOW functions like an anesthetic while the Fed's wrong-headed policy wrecking ball crushes wealth and Mr. Greenspan tries to put up more teetering defenses. His latest circus stunt is to join the line of officials warning that the GSE contracts (Fannie and Freddie) aren't guaranteed by the government, as they prepare to report a $25 Billion derivatives loss (doubtless caused by the unexpected (and sluggishly dealt with) spike in interest rates last Summer. Never mind that the whole idea behind the Fed's mid nineties gold rig was to create low interest rates and to thereby deliberately construct a massive credit and housing bubble. Mike lemetropolecafe.com james joyce table