The markets whipsaw wildly, careening between faith and fear, betting one day that the world will come to an end and the next day that the gods of central banking will save us all. Considering what we know about the ungodliness of the bankers, that faith has no basis. The faithful Congregation of the Central Bank Savior could discover that its priests are monetary fakers, its god Bernanke a false god.
Will Tuesday be that fateful day? The entrails still reflect a measure of popular faith, but there are hints of disillusion as well as the faithful wait expectantly for the pronouncement of the high priests. With uplifted arms, the parishioners shout to the priests and the god Bernanke for deliverance from fire breathing skeptics, marauding bears, and the great unwashed horde awaiting the collapse of the temple, just beyond its rotted and teetering walls.
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We may be skating on very thin ice here, but the weight of the evidence still supports a weak bull case for the near to intermediate term. So I’m adding buy picks on the chart pick list and adjusting trailing stops to account for the risk.
These reports are not investment advice. They are for informational purposes, for a broad audience of investment and trading professionals, and other experienced investors and traders. Chart pick performance changes week to week and past performance may not indicate future results, as you know. Trading involves risk, and these reports assume that you understand those risks and manage them according to your tolerance.