This is intended to be a forum for me to post chart ideas and hopefully receive feedback and stimulate discussion.It is not intended to constitute investment advice.
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
Bobo here:Could you please throw in a Wankity wank for me at the asylum.I don't believe anything that Pontificus asshat says, particularly the exponential growth in his account balances that he so proudly posts.What is the over/under on how many posts Wanker makes on Christmas Day? I would ask directly but sadly am precluded from doing so right now.
Hi Bobo. I passed your message on and both Wagner and Pontificus seemed delighted to hear from you and asked me to pass on their warmest regards :-)
WTI's 2nd worst week in over 3 years (down 10 of last 11 weeks)Dow's worst week in 3 yearsFinancials worst week in 2 monthsMaterials worst week since Sept 2011VIX's Biggest week since Sept 2011Gold's best week in 6 monthsSilver's last 2 weeks are best in 6 monthsHY Credit's worst 2 weeks since May 2012IG Credit's worst week in 2 months10Y Yield's best week since June 2012US Oil Rig Count worst week in 2 yearsThe USDollar's worst week since July 2013USDJPY's worst week since June 2013Portugal Bonds worst week since July 2011Greek stocks worst week since 1987http://www.zerohedge.com/news/2014-12-12/crude-carnage-contagion-biggest-stock-bloodbath-3-years-credit-crasheshttp://vault.sierraclub.org/sierra/201305/images/CR_illo.jpg
thanks Wile.Is oil a black swan or a black seagull ?
Evidently a market too large to effectively manipulate. A 40% move will break derivatives and the junk bond crash will hurt the P/L. Its a good Q how serious. This whole mess is unsustainable but more insane money creation might delay things. Mannarino said watch the Velocity for the turn into hyperinflation. W
CA - Helluva mud-slide: https://www.youtube.com/watch?v=4v97YR4Q47A
Count update - Chris Wallace: http://1.bp.blogspot.com/-DFqgikhcPV8/VIC7euE-47I/AAAAAAAAAcE/n-M3_NrpAJU/s1600/DOW_Weekly_Elliott_Wave_Count_12-4-14.png"... the rally from the March 2009 lows is a bear market rally, not a continuation of the old bull market that began at the 1974 low, and certainly not a new bull market. This is evidenced by the absence of a value low that appears both at the price low as well as the inflationary/deflationary cycle low of every secular bear market bottom, as well as the fact that the rally from 2009 has occurred not only on low volume, but on declining volume the entire time. True secular bull markets exhibit, from an Elliott Wave perspective, impulsive rallies, and from a traditional technical analysis perspective, expanding volume. Neither of these characteristics have been present since March 2009. Consequently, there are two strong indications that this is not a bull market: The absence of a value low in March 2009, as well as the rally from that low failing to exhibit bull market characteristics. If either one of these factors was not true, I would reconsider, but rather it appears they are complementing each other in pointing to the same conclusion: This has simply been the longest bear market rally in history." -- W