Wednesday, January 16, 2013

Hello out there in La La Land, I haven't had a heart attack or any thing, or passed out again, I just see nothing to get me excited about. We are in earnings season, so of course you have to check each and every stock you might be interested in to make sure you don't hold it over earnings, so there's no use in taking swing trades, and frankly, the market has done diddly fricking squat! The news under the chart is typical, the DOW is down about 60 points this morning, while the NasDOGS are higher as AAPL is bouncing, and the MSM is blaming the drop on the World Bank forecasting a world wide recession this year, while at the top you have an ANAL-yst making his case for new all time highs in the SPY to $165, hhahahahahahahahahahahaha.................HAH!
Wad ever, we don't have to wait for the World to go into recession, for those of you who have been following know that the S and P is ALREADY in an earnings recession, having had two straight quarters of declining earnings, and will probably make it THREE quarters in a row after this season is over with. But of course, that don't matter, not as long as Bennie Da Pumper is creating 85 BILLION a month out of thin air and buying those shit MBS's from the Wall Street banks to keep them solvent! Actually, the reason the DOW is down is JPM reported earnings this morning which weren't received all that well.

I have not shown any breath indicators as they are mostly good, with the $NYAD and $NYSI on buys, the $NYMO neutral, and the $NYA200R and 50R over bought. The weekly chart up there is about to get a positive MACD cross at the bottom, a buy signal, which is wonderful, I'm real happy for it, but the thing I find interesting, and it shows up on most of the Indexes, is the CMF money flow indicator is making it lowest points of the last three years, which have been associated with market bottoms, but that's usually after the markets have had a substantial DROP, which, of course, we HAVEN'T! Should be interesting to see how this eventually plays out.

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