Thursday, September 20, 2012

20 Sept 2012

Other sites charge money for this indicator.  There were a lot of blow-off tops last week.  Out of the 1030 new highs made last week, 696 are below their close five days ago.

"To combat depression by a forced credit expansion is to attempt to cure the evil by the very means which brought it about; because we are suffering from a misdirection or production, we want to create further misdirection- a procedure which can only lead to a much more severe crisis as soon as the credit expansion comes to an end."
Fredrich Hayek, 1933

"You can always count on Americans to do the right thing—after they’ve tried everything else."
Winston Churchill

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