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...p.s. With cooler weather coming are you going to start baking those tasty cookies of yours?
...Now I've dusted the place and fluffed up the chair pillows, filled the fridge with drinks and made a fresh batch of cookies (chocolate chunk, with or without pecans) so make yourself at home and tell me what YOU think about this market.
Got my apron on and smudges of flour on my face, my friend. And I'm taking requests.
How about some RUM BALL COOKIES, I love those things?
After they are finished try 8 or 9 of them, you should feel better then!:laugh:You got it, my friend. I've never made them before so the first batch may or may not be edible. ;P
Charts are helpful when they provide some kind of clue as to the future of the market based on a clear trend or historical pattern. Anybody claiming to spot a trend in the mess that is the current chart, what with its -- count 'em -- six interim peaks and six interim valleys in the last 14-week journey to nowhere, is grasping. The chart is not forecasting the market; events are jerking the market around and it's leaving evidence of that on the chart. If the EU comes up with a credible plan that doesn't deteriorate within days of its birth, the chart will rise. If Italian bond yields exceed 7 pct, the chart will plummet. So, for now, forget the chart as a forecasting tool.
When it comes to investing I have been a technician from way back. Look at the charts, find the trends, buy them. Over the last year or so I have slowly come to a realization of the fact that Stock Guru Jason Kelly states so succinctly this week:
So now that stock prices are SO dependent on world news I'm wondering ... anyone have a working crystal ball they'd like to get rid of? ;P
You are very kind, IT, thanks!
When it comes to investing I have been a technician from way back. Look at the charts, find the trends, buy them. Over the last year or so I have slowly come to a realization of the fact that Stock Guru Jason Kelly states so succinctly this week:
So now that stock prices are SO dependent on world news I'm wondering ... anyone have a working crystal ball they'd like to get rid of? ;P
....
BTW, bout time you got back here. Sitting and gabbing at the kitchen table with favorite people, missed that while you were gone. welcome back!
I hope that is good news for stocks!Quite simply, the past 5-week rally has been breathtaking, but it remains to be seen whether it has "legs" of whether it does not. It is of our opinion, that it "does have legs", and it does so given the Financials (XLF) are rallying...but more importantly - the Homebuilders (XHB) are leading the rally. And, we think the XHB shall continue leading and actually do better than anyone anticipates at this juncture.