Archive for February, 2009
Feb
17
Posted by kurtosisT
Time to take profits.
Yes silver has been in what some would say is a perfect channel it is now trading at the top of this formation for me I am going to respect this channel formation and take profits on my trade. I would look for a re entry back at the 13.40 level as the defensive play continues to unfold in light of a worsening US and global economy. Note that when you play a channel formation like this only work the direction of the trend in this case it is in a uptrend so ONLY buy the pull backs never try to short on the channel because like anything it can break the upper parallel.
Stick to those stops and remember buy and hold is dead.
KT
Feb
15
Posted by kurtosisT
Yes, here is a very good question especially for those trivia buffs.
How many zeros are in a trillion?
1,000,000,000,000
Answer: 12
You could have spent 1million every day for the last 2700 years and still not spent 1Trillion dollars go figure the size of the US current bailout packages. How long to pay this off?
Feb
11
Posted by kurtosisT
Yes, very simply we must keep mark to market accounting of bank assets because if we remove this we will head down the path that Japan did and did it work there. Answer NO. They had over a decade of deflation (still suffering today!) Basically we need to let these bad banks fail. The government is in essence trying to reflate the uninflatable banks. The Government is throughing good money after bad. Let the markets find the bottom rather than having a death by 1000 cuts. Remove mtm just takes it off the balance sheet. The assets are still there but my guess is this toxic sludge is worthless.
Stick to those stops and buy and hold is dead.
KT
Feb
10
Posted by kurtosisT
Yes my earlier post before the market opened indicated a failure to the H&S pattern todays move really confirmed my earlier call at 861.
stick to those stops!
Buy and Hold is dead.
KT
Feb
10
Posted by kurtosisT
Tim Geithner and Treasury fails to explain the plan.
Question do the banks really want to sell these toxic assets or have markets made in them? Or are our banks really bad traders!! Answer our banks are really bad traders and didn’t have stops on! Why? Simply if the banks sell these toxic sludge just maybe we will really find out who is insolvent. Yes reality that these toxic assets are WORTHLESS!!
stick to those stops
KT
Feb
10
Posted by kurtosisT
Feb
10
Posted by kurtosisT
Head and Shoulders
Looks like the Head&Shoulders pattern on the ES could fail. If this does happen then typically a market will sell off. With the US gov’t expected to announce some changes and provide a road map to solve the economic troubles of the world my guess it is that it will more than likely fail and markets sell off. Reality is that the cost of stimlus and burdening Gov’t debt to fund this will cost the Tax payers for many many years to come. Remember we are in a BEAR market so our problems haven’t been solved yet and I guess they won’t be solved today. We continue to see growing unemployment and joblesses coupled with continue business failure some how I don’t see the light at the end that our good friends Obama and Tim see.
Good Luck and stick to the stops.
KT
