14 June 2011

 VIX seems to have been rejected by my trendline and the 200 day EMA.

 Medium term might be finally rolling over.

Today did substantial work to eliminating the oversold condition in the short term.  There is still a ways to go back to the positive side though.

Notice that I was three days early.  However, I still can't take credit because the indexes still aren't above where they were when I said that.  Tomorrow could be interesting because of the Greek vote - pending its delay to July or not as well.

One of my favorites:
"If you owe your banker a thousand pounds, you are at his mercy. If you owe your banker a million pounds, he is at your mercy."
John Maynard Keynes

I guess the problem comes when you've promised other people a million pounds and the bank will no longer loan the money into existence unless you play by their rules.