Bugger.............dont you just hate it when that happens...always a pip of two as well
Was that a Bear Flag trade ?
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Bugger.............dont you just hate it when that happens...always a pip of two as well
Was that a Bear Flag trade ?
5 min garttley not perfect by any means but I had noticed that bear flag forming for sure on the slightly longer term.
could be more in it even from now as theoretically this is a wave 5 and should hit a new low ie below 63.92
............................
Clearly the situation is dire. It is deteriorating, and it demands urgent and immediate action," Obama said on Friday just hours after the Labour Department announced US employers shed a massive 524,000 jobs in December, capping a yearly loss of 2.8 million and pushing unemployment to a 16-year high of 7.2 per cent.The grim new economic data - described by the incoming president as the single worst year of job losses since World War II - "only underscores the need for us to move with a sense of urgency and common purpose," said Obama, who inherits the country's deepest economic crisis in decades in 11 days when he assumes the presidency.......................
Full article
http://news.ninemsn.com.au/world/716...re-warns-obama
this might be interesting to some
from gann global... yes its promotional but has value in its own right
http://gannglobal.com/webinar/2009/0...-culminations/
Wow...trade of the week would have been to short oil.
Unfortunately these newspapers talked me out of it with phrases like "peak oil", "fundamentally oversold", etc.
the webinar these guys offered is pretty interesting from an economic historical perpsective.
you have to register but I found this hour long analysis quite fascinating covering stocks bonds commodities etc.
http://gannglobal.com/webinar/2009/0...ations/replay/
they're really putting the current situation in its perspective.
skip from 2 mins into section 12 and you skip all the promo. the q and a's are moderately interesting tho.
- this leg down is as severe in terms of time and price as ever experienced
- there has never been a single leg down , sell the rallies.
- commodities will then confirm the capitulation/culmination
- the greatest stock buying opportunities will present themselves as they did in 1921,32,49,74,82
- does not like corporate bonds
- does like cash
United States Legal Federal Holidays
• January 19, 2009: Martin Luther King Day [3rd monday in Jan]
• January 20, 2009: Inauguration Day [every 4th year]
hey Peat ,thanks for the charts i find myself in agreement with max on the big picture.
i think the sp500/dow is going to have a sharp fall to new lows which will complete 5th wave of c wave of major wave A.................then .......................
powerfull bear market rally retracing around 50 % of bear market so far , this could be the trade of 2009.
if max counts it as 5 waves down for A wave then he's probably expecting a zig zag bear market wave pattern 5-3-5 which will take the market down to incedibly bearish levels.
im counting it as a 3-3-5 flat which has a more optimistic low point, but count not too different.
there is too much bearish sentiment on us dollar and too much bullish sentiment on gold
i think there will be dollar strength through 2009 and gold weakness.
i think the eur will get hammered as eur rates are cut.
Currency traders opt for countries with trade surpluses
http://www.nzherald.co.nz/business/n...0552794&pnum=0