2011 off to an overly bullish bump up. Arthur HIll, with Stock Charts, says:
-- QQQQ AND IWM BREAK DECEMBER CONSOLIDATIONS
-- HANG SENG BREAKS WEDGE RESISTANCE
-- SENTIMENT INDICATORS SHOWING EXCESSIVE BULLISHNESS
-- PUT/CALL RATIO BOUNCES FROM BULLISH EXTREME
-- VOLATILITY INDICES STILL TRENDING LOWER
All of these are signs of a market that either won't stop, or is just about to hit a top and begin a short term correction. It's anyone's bet.
We were not able to gain entry to our call position yesterday because of the market opening so high, and with futures showing 100 points up at opening it was also not prudent to
even consider the put. We'll try again today with both of the same signals.
Note how close we are to our Dow tops. 11,846 to 11,950 are huge resistance areas that should "slow the market," if anything can.
And as those Republicans get to work solving the problems the Democrats created (it's like a fairy tale nightmare from Fox) a nice letter from a subscriber that, like I, travels overseas, and can see the differences:
On a recent trip overseas, as I passed through security at the airport, I was met by 15 shoe shiners. Immediately, I noticed the difference in the way each one conducted business.In America, most of the shoe shiners wait for a customer to sit down. Some may make a motion and ask, “Would you like your shoes shined?” I’ve always wondered why they ask this question. They know the response is either “yes” or “no.” The question only gives a 50% chance of success. Not very good odds for shoe shiners.But in this particular airport every shoe shiner ran over to get my attention. “I can make your shoes new again.” “Come sit with me for five minutes and you won’t regret it.” But one shoe shiner stood out. He said, “My name is Adu and I love to shine shoes!” That was my man because he genuinely loved his job (no matter how trivial to others). He spoke to me through the entire experience. He was friendly and gave me tips on keeping my shoes tidy. In the end, I gave him a tip much larger than the price of the shine. Why? Because he turned something boring into a memorable experience. If I ever find myself in that airport again and Adu is still there I will gladly wait for him if I need to.I feel certain the other men could shine shoes just as good or maybe even better, but Adu had a childlike spirit and love for what he does. His passion was contagious and he was a joy to be around-his personality shines above his competition. Adu loves what he does and treats every day as if it was his first day on the job. That’s his key to success. Do you love your job and have the same amount of excitement for it today as you did your first day? How bright are you shining today?"
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