If at first you don’t suck, cede, then try, try again.
You do realize don’t you, that this “top” will become a massive reverse head and shoulders saucer bottom, if they break out, right?
But don’t get too excited yet.
I’m talking about the Velocity of Money. It does not measure speed of transactions. Whoever came up with that concept was full of crap. And as usual with most crap in eConomics and finance, it became accepted as religious Truth.
Which confuses the issues. eConomists like it that way. When they confuse everybody with their nonsense, they feel powerful. So let’s cut through the crap and see the game they’re playing for what it is.
The scorecard today is 61 total signals, 27 buys, 34 sells. That’s meat grinder stuff.
Yesterday, a couple of you highlighted the fact that there are so many different opinions about what the Fed is doing and trying to achieve, it’s hard to know what to pay attention to.
It’s true there’s a lot of distraction and deception. You must keep your eye on the ball. Here’s the pitch!
This is for the Treasury market. Proxy TLT. Originally posted at the Daily Stool.
The market “should” be in launch mode right now. This doesn’t look like a launch to me.
The bad news is that the 13 week cycle up phase has been weak, and is on the brink of failure. The worse news is…
We have a darn good idea of when the US Government will run out of money. We know when it will start slamming the market with even more supply. Huge supply. Record supply. The biggest baddest, most persistent tsunami of supply in history.
It will wipe out everything in its path. There will be no escape.
Originally posted at The Daily Stool. Was Friday’s surge a breakout? Nope. They fell 10 points short on the S&P fucutures. But first comes the…
I’m running way late this morning. We just started daylight savings time here in Europe this weekend, and I overschlepped. So I’ll just start with this and get back to you shortly.
Play Ball! Stock Market Swings For the Fences in Season Opener
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