It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Saturday, 1 November 2014


Pretty hard to explain this rally without resorting to extreme cycnicism re manipulation etc. The sell setup from the Sep 19 high was perfect from a Gann price and time point of view and we took out a major swing low,so all textbook stuff for a decent correction at the very least.Sure a retracement of say 50- 62% was a reasonable expectation but this  rally through 3 Gann lines back into the original resistance zone without even a 1 day pullback beggars belief.And all this at a time when the Fed announces withdrawal of QE.
 Free markets are dead,which shouldnt be a surprise to anyone,but the scale of it is mind-blowing.....then there's gold,which should have rallied on the Japanese news but lets not go there....:-)

Northman Trader has a good set of charts and comments this weekend


  1. I agree with you CR that move in gold left me scratching my head. I was bearish gold before friday but that announcement should had shot gold upwards like a rocket

  2. Part of the problem being Wile E Coyote on Halloween is, they away take away your dynamite or rocket pack. Anvils are unwieldy. Maybe a sack of free bird seed next year. W

  3. Wave after wave. W