Thursday, July 08, 2010

The Case for DOW 4500 WATCH IT Unfold! - Week 10

Well, at this level we could expect follow through to 10,200 up to 10,300 as a this minuscule relief rally forces shorts to take some profits.  It will be interesting once Europe vacations start up how the market will react.  10,138 as evidenced by the chart is a critical level where that and the aforementioned levels represent huge confluence Fibonacci levels.  I would keep watching the European and IMF statements about the dollar, as there have been major efforts to talk down the dollar in the past month, as remarked upon in my Token vs. Economy articles.

As far status on the massive 20 head and shoulders of which we are at week 10 since the Goldman Top, we are still on target, for DOW 4500.  I continue to be an advocate of selling all rallies, as the economy still has a significant of gravity pulling it down.  10,197 is a minor Fibonacci retracement line, however being that this is a monthly chart it is still pretty significant.


Huh?..? More hedge Funds Launches... or Losses

So if I am to understand the first article we can expect more fund launches in 2010... and this statement is basically factual, as new funds are always launched.  What matters most, is how many funds close during the same period and what is the net.  Given the last two, of the three articles, written by the same author.  It appears to negate the relevance of this survey which is likely strongly biased as hedge fund managers clearly hope that more investment money is coming in.  The twenty percent that called for more funds to close this year than last are the ones I 'd like to have manage my money.

Hedge fund managers predict more fund launches in 2010


Hedge funds record lowest performance since November 2008


We're not dead yet....

Ivy and UBP, between them 2.2 Billion Exposure to Madoff...  Ivy with the lowest exposure to Madoff shriveled in on itself and died, while UBP with the largest gets to see another day.  Not sure how hiring Larry from Ivy, helps, but I suppose the logic is that it was a damn sight better than UBP previous risk managers.

Larry Morgenthal named chief executive of UBP Asset Management



My Favorite Roller Coaster!

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