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Thursday, October 8, 2009

Its Going to Come Unglued


Gold will hit its triangle breakout target wherever that is. It appears to be in a Minute [iii] so one more down and up after Minute [iii] peaks.

The Dollar will hit its wave 5 low. Might need a down, up down. Or it might be there in an ending diagonal.

The VIX may be ending in a massive ending diagonal move so a quick new low under the recent low of 22.19 may be coming.

The stock market is likely in a Minor wave 4 triangle pattern (the [c] wave has yet to trace) or it is making a beeline for a new high. The alternate is that Thursday was a wave (ii) or [ii] high from the 1080 high
Regardless if its wave 5 the upside is limited to 1108 by EW calculation.

Oil is meandering under its broken trendline but does anyone think it deserves to be at $71???

Technicals on all predict major tops or bottoms. Just see Kenny's charts.

Sentiment is still bullish but beginning to show a fractured pattern.

They do not know what they are doing. They do not control social mood.

Corporations are so far in debt in ain't funny. I guess we can crowd into Apple and see it make an all-time high! But they are greedy little bastards aren't they? Not even a nickel in dividends.

Why do you buy Apple at $190? Answer: So you can sell it to another sucker at $210.

Debt bubble. The greatest ever.

Fannie and Freddie. Sounds like a slut and her pimp.

AIG. (better known as the "All-In Group")

Amazon, earning an amazing .32 cents a share, is a steal near $100 yes? After all they just slashed their Kindle, a $250 electronic device that reads books, so surely everyone will want one even though America doesn't read!

We have had our necessary rebound in mood since March. Fear has been correcting for almost a year to the day (Oct 24th 2008 it peaked)

Banks are bankrupt including the FED and Treasury. This weekend will likely break the 100 mark of closed banks for the year.

We have gotten greedy again with irresponsible bubbles, particularly government debt.

Credit Derivatives. OMFG....

Housing is collapsing. There are no real jobs. Unemployment is skyrocketing.

There are no green shoots.

There are, however, white lies.

Government doesn't have enough income. So they will raise taxes. Which is a kiss of death to the consumer.

But he is dead already. Leave me alone with the g'dam commercials! I already have all of China in my basement! And I am not talking dishes.

I am more bearish than ever. My simplified 5-3-5 zigzag P2 chart shows a new recovery high but poor mom and pop will, again, be bagholders via 401K's, mutual funds, IRA's, etc, etc.

All those "smart" money managers? They don't care in general...its not their money!

Hedge funds? The mere term is an oxymoron. They too will be eradicated and exposed. Think Madoff.

The asset mania bubble has peaked. Sell that baseball card collection! It won't be worth shit in 20 years no matter what you have been indoctrinated to believe.

You got a Mickey Mantle card? Sell the goddamn thing!

A painting appraised at $5K? $10K? Sell it all. Paintings won't feed your family.

Sports mania will wane. Athletes making $100M will reverse. Teams will go bankrupt.

Social mood is turning once again.

Its all a house of cards.

In the end, Nature's laws prevail. Always.

Rant over. Have a nice day! And good luck tomorrow.
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