Did I call the bounce? You betcha! Now, I see a quick reversal down to 1100 S&P and as always, check the volume at that swing point. This is probably going to be a quick and short trip down because among many factors it is earning season. You must "always" remember that the market is biased to the up-side. The effects of earning season along with company guidance will probably cause many knee jerk reactions, but again, to the up-side. At this time I would also quantify my call on the bounce. The S&P did not reach my minimum estimate of 1180 and the Dow transports did not reach 4600. This is a warning signal that the range which is what you should be playing is changing. This adds to a forecast of a mixed and dangerous market. The overall trend is still down, but a strong earning season will cause another sharp bounce up. I think that the best strategy is to hold off and see how the market looks after some positive and negative earning reports. Patience is a virtue which very few possess. I know I was looking at the computer too much and it played havoc on my emotions. St.Theresa where are you?
OCCUPY WALL ST.
Instead of looking at my computer I should have set my stop and went down to Wall St. to support the protestors. I'm thinking of going down there next week if they are still keeping the struggle front and center. Who better to give direction, but yours truly. I'm thinking of taking a chance and offering them one chapter of my work for guidance. Maybe they will get in my corner. I find a publisher and then, I could afford to fight for America and our citizens. Nevertheless, I did see on the news another one of my predictions is beginning. The first stone was thrown by the police lowering their batons on the heads of some protestors. Once a rock is thrown, it cannot stop the next one. My prediction of cannibalization is on the horizon. There was also another incident with pepper spray, however cooler heads have prevailed for the moment...
LIARS and CROOKS:Under Title Code 31 of the U.S. Code requires an annual physical inventory of our gold, however the U.S.Mint and Treasury Dept. have refused to allow it. This has been going on a very long time. In fact, the Congressman of Kentucky where Fort Knox and our gold is supposedly kept was notified by a resident of his state that truckloads was seen leaving the fort at odd hours of the night. He requested an investigation and he was stonewalled. In another incident in October of 2001 an Asian gold refinery received a gold shipment of 60 metric tons, however after being checked, many bars did not contain gold, but had gold plate over tungston. Tungston has the same weight per size as gold and this has fooled many people many times. In this case the Chinese noted that the gold had a stamp on the bar that showed it had originated from Fort Knox. How about asking Geithner the next time he appears before Congress? End the Fed! Sebastian
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