Tuesday, June 5, 2012

5 June 2012

I'd like to welcome any first time visitors, and thank Charles Hugh Smith for using some of my material.  I usually keep the comments light and focus on the charts.  I use them to determine buying/selling points with better odds.  I generally use them in a contrarian sense.  Hold long at a high level means sells.  Hold long at a low level means buy.

Long term still producing high readings.  However, this is generally a lagging indicator.
 Medium term oversold still.
Short term appears to be "bottoming" at a higher point than previous and remains oversold.

I am encouraged by this, but I still think there might be another roach somewhere.

"It is an old maxim and a very sound one, that he that dances should always pay the fiddler. Now, sir, in the present case, if any gentlemen, whose money is a burden to them, choose to lead off a dance, I am decidedly opposed to the people’s money being used to pay the fiddler…all this to settle a question in which the people have no interest, and about which they care nothing. These capitalists generally act harmoniously, and in concert, to fleece the people, and now, that they have got into a quarrel with themselves, we are called upon to appropriate the people’s money to settle the quarrel."

Abraham Lincoln in a January 11, 1837 Speech in the Illinois Legislature Concerning the State Bank

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