Thursday, February 21, 2013

21 Feb 2013

 Buying climaxes heading towards all time highs.  It doesn't look good shortly after this happens.  I guess my post from around 1 February saying most stocks have peaked appears to have been true.
 This especially appears evident in this chart.  Many stocks have been falling out of their medium term uptrend since early February.
Short term is nearly oversold.  Yes, really.  This could provide ammo for another try for the top.

"... the benefits of a depreciating currency are not restricted to the government. Farmers and debtors and all persons liable to pay fixed money dues share in the advantage. As now in the persons of business men, so also in former ages these classes constituted the active and constructive elements in the economic scheme… The tendency of money to depreciate has been in past times a weighty counterpoise against the cumulative results of compound interest and the inheritance of fortunes. … By this means each generation can disinherit in part its predecessors’ heirs; and the project of founding a perpetual fortune must be disappointed in this way, unless the community with conscious deliberation provides against it in some other way, more equitable and more expedient."
-- John Maynard Keynes - Essays In Persuasion

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