Thursday, October 14, 2010

So what about the new foreclosure crap.... who cares!!!

Here we are dancing above 11k on the DOW, and the talk of Golden Crosses (50 day moving average breaking through the 200 day MVA) well if it ain't Scottish it's CRRRRRAAAAAAAPPP!!!

Here is the point where the DOW 4500 20 Year Head and Shoulders is fulfilled.  In my view we are at the right shoulder top right now... a double top at that!

It has been over a year that I have been tracking this one particular indicator and watching the news events track it's development.  Recently this new item about banks having to stop foreclosures, because they don't have proper title is what I believe will cause the right shoulder.

It makes sense that the banks probably knew this some months ago and the folks in their houses not paying a dime have been doing the broader market a favor by buying electronics and consumer goods and saving$$$!!!  This time I guess the banks can't be bailed out, so that leaves big hulking masses of debt holes that will act like economic black holes and suck everything within proximity into it's hungry MAW.  Including stocks!



My Favorite Roller Coaster!

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