FUNNY!!!!

Futures WOW

I didn't realize the futures were down as much as 40 points and 400 DOW points. Need to take note of those points

I love saying BINGO

Notice what happened to GOLD hit the C point of our charts and bang that was it. Yes we had the news hit overnight with Dubai but let me reiterate this news doesn't not make technicals and it would have played out that way anyways.
Now lets see what happens to this gap down remember it is a half day and it seems we have already touched some important levels I had marked down on the lower end.

Today is usually an non event day so don't really expect much to really manifest itself with the Dubai news but it just shows you the world is still a fragile place.

MARKETJEDI

Holiday post

WORLD markets are in heavy declines as there seem to be trouble in the once promising Dubai.
Dubai Investment is said to be on the verve of default.

Is this the trigger of wave 3????

US Dollar

Been writing about this forever and folks aren't fully realizing what is going. The crushing for the American PESO :) been talking here on the blog for months about folks will tell you about the DOW being over 10000 (meaningless argument) and things are looking up BUT when the value of the currency is declining at a faster rate of your investment returns you are loosing REAL wealth. Can you guys imagine if something happened globally and US debt holders would have to sell lets say 15% of the debt, if you think the dollar is slowly getting crushed now pray you don't see such an event.
The news here is the dollar and nothing else, that's the reason why the FED is keeping rates low. They are hoping its spurs some investments in productive areas but sadly it is not. I have no prediction on this dollar sinking more than I saw it years ago coming to this because the escalating deficit. We are now $1.15142 for the Euro and remember it was at these level before we had that steep market sell off to the March lows..


Have a great Thanksgiving.

Bingo on Gold

Gold has finally hit it ultimate projection C point. I would be cautious here and out any long position here as we should get a rest point here.

Aren't technicals great!!!!!!!!!!!

Thanksgiving

Hope everyone have a peaceful holiday weekend.
I am doing some reading and see alot of people are full blown SHORT right here but one thing I will point out is that although we know that we are still in a bear market the market can remain irrational for a long period and kill you.
I rather wait till we get the signals that we can go full short and then execute, believe me missing a week wont kill you. The market wont drop from 10500 to 5000 in a week! there will be enough time to get on board. Just right here and now we are in chop mode and it is dangerous to pick a real medium term swing position without clarity.


MARKETJEDI