Playing The Games

Much of the world thinks the world is ending. The trading range around 9950 kept the market humming in a flat area through 1.30 p.m., with little moves down of fear, or up on excitement.
Gold continues, and Silver follows, on strong upturn. We are sharing with our Blue Chip Option (www.bluechipoptions.com) subscribers to be "short Gold and Silver," as we think both are strongly overbought. FEAR drives gold, and we suggest one more upturn to 10,350 area, and on through our Dow projections.

Yesterday through 1.30 p.m. it was hard to even stay awake with the flat lining.
Mid-afternoon Arthur Hill with www.stockcharts.com reported:

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-- EMPLOYMENT REPORT WEIGHS ON STOCKS AND LIFTS BONDS
-- EURO AND EUROPEAN STOCKS FALL SHARPLY
-- MACD FORMS DIVERGENCE ON WEEKLY GOLD CHART
-- INVERSE GOLD EURO CORRELATION UNDER THREAT
-- GOLD MINERS ETF HITS RESISTANCE AT GAP
-- JUNIOR MINERS LAG SENIOR MINERS

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Trading range, says Michael Santolli at Barrons, might seem to suggest that the market is not ready to puncture outlooks. But this market is erratic, suggestible, and irresolute.

Santolli uses pnf charts to see strong support at 1040, and a bottom between 1016 and 1020 as possible. He further sees upside no higher than 1200, "as that is all the market deserves."
We'll use this as the week continues to "remember" how deep we could go, especially if we break the 9774 area on the Dow.

There is NO fundamental need for a further collapse in U.S. equities, and 1040, or in the 9800's. We've hit so close or to these numbers several times now that the oversold conditions may begin to actually be "calmed" and realized, and the market short term build up again. When and if this happens we have clear instructions on stocks and bonds written to our subscribers at www.bluechipoptions.com

Bernanke just said, "One particularly difficult issue is the continued high unemployment it imposes on workers and their families."
It is good to know such a "smart" man can share with us all such an obvious thing. It may be that he just learned it, so far removed from reality.

This is what we must be afraid of. Those "playing the games" have never really worked. This makes a big difference in how we think.


Please think:

46.4% of a baseball team's revenues is the "national average" for percentage of salary paid out. This is another stupid fact, but sadder when you realize just what these salaries can amount to :)

The majority of Americans believe drilling around our coastlines, with regulations, is prudent and responsible. Drill, baby, drill.

My son died for a just war.

My son died for nothing in an unjust war.

I bribe you to vote for my needs, so you can keep your job and "advertise yourself," get paid well, and have a great life.

I bribe you because the only way you will give me the business is if I "kickback" to you. It means my job whether I get the business or not.

My God is the only God.

Without my God you will die.

"We need to instill classic American values," is the best line I know. We all agree on this, perhaps not on values, but there is no need for discussion. Act your values and you are spreading them.



And life goes on.