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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


Friday 1 July 2011

Markets in Cloud Cuckoo Land

sorry I dont know what else to say.....Ftse up 5 days in a row....Last day of POMO and VIX plunges...everything must be ok.Do markets seriously believe the Greek situation has been resolved ? Lets see if the eom Gann cycles give us a reversal. Acceleration into a cycle is typical.I do not believe that technical analysts should ignore fundamental s (like Robin Griffiths,from whom I learnt a lot),but at the end of the day we have to trade the charts and wait for the reversal if we are bearish.Greece is a big deal and to sweep it under the carpet when the issue has not been resolved is not the symptom of a proper functioning,healthy market. We need healthy markets that do their proper job and send the correct signals to investors,not function as mechanisms for government intervention.Rant over !

2 comments:

  1. what a completely frustrating market. the worlds turned upside down, massive disconnect between reality and markets

    ReplyDelete
  2. yep...still watching the 1 year cycle off the low but feeling a little bewildered...1st of month does see fund flows and is usually postive

    ReplyDelete