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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
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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

Wednesday, 20 October 2010

An Important day

Some encouraging signs for bears today,with weakness in US markets,strength in the dollar,strength in the Vix and weakness in gold.It could be that the negative reaction to Apple and  IBM earnings yesterday marked a turning point in this POMO and HFT -dominated,low volume bull phase.I still think the triple top in the bank index is thnreatening a fast downleg that could derail the bulls' optimism.I will try and post some more charts tomorrow but here is Columbia's dollar index chart.






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