There are many technical indicators that have their uses. This chart will examine the classic Bollinger Bands and their characteristics over the long term. This is a decade-long chart of the SPX.
Please read the annotated comments and note the BBands behavior.
This is the kind of chart you will find on my premium service.
ADDENDUM: Not in a straight line!
http://www.zerohedge.com/article/citigroup-call-implications-foreclosure-crisis-just-tip-iceberg
Read this Zero Hedge piece as it is the blueprint for the resolution.
My suggestion, since my appearance on Tech-Ticker, of individual negotiations is part of this plan, but it has been brought about in a rather unusual way. I guess Forclosure-Gate is the only legal pressure the administration can place on the banks to get them to re-negotiate end-user mortgages.
After all, most MBS investors have taken markdowns except for the big banks who continue to extend and pretend. The bottom line is that there cannot be a million households walking homeless through the streets of suburbia.
Banks are the last to take the hit and they must take it as there is no other choice. Even their political patrons cannot absolve them any longer.
If this gets done in a serious fashion and without a contribution from the government, the markets may actually rally–for real…
Comments »My forecast of a test of the highs before the cold weather is basically being satisfied.
A few weeks ago I dropped a forecast of a sell-off after the October option expiration and before the elections.
My timing is ridiculously on target, so far.
In fact, I am seeing subtle but obvious signals that this phase of the market rally could be coming to a close. I am going to NOT second guess myself like I so often do. I will be looking to exit some positions.
To you haters–show me your stuff or STFU and DD…
Comments »Today, the New York Times did a lovely story about one of CreateCapital/CreateCoin’s little media stocks, CBS.
We all know they are the #1 network run by one of the “single greatest human beings who ever existed” Sumner Redstone. The stock was under $5 during the credit crash, but he got it together and refi’d. Just imagine what would happen to the stock if he dropped dead!
The stock had been consolidating in the low teens for months and has since broken out. Those who own this with me, stick around for a twenty handle. Freeloaders can buy a pullback, but you’ll own it higher than me.
Here is the NYT article:
http://www.nytimes.com/2010/10/11/business/media/11cbs.html?_r=1&scp=2&sq=cbs&st=cse
BEFORE and AFTER:
