The world waits for the QE3 and yet our strongest currency is hobbling along. Our penny is copperless. Our nickel is "nickeless". Our silver bucks and all coinage is silverless. Paper is changed each few years to avoid counterfeiting.
But the world waits for QE3.....go figure.
While this plays itself out,I'll stock up on 32 & 64 oz Mountain Dews.
“…and the market is poised for a twenty percent correction--about to fall off a cliff.”
20% could turn out to be quite optimistic.
People try to analyze the financial markets using common sense. It seems, however, the most accurate gages of sentiment are general market indexes like the DJIA. For some time this has been observed, along with the New York Composite Index. Both, over about 15 years have been forming an immense H&S pattern, which is extremely bearish. At times it seems money is thrown at the general market by big players, like the big banks, including the Fed, to see if this pattern can be made to fail. That is a ridiculous waste doomed to failure absent a change in direction by the large financial firms and the politicians.
Take a look at these indexes and see if you don’t agree that we are in for some really rough times. These indexes comprise billions of trades in total and there is no way they should be regarded as irrelevant. Some analysts who post their assessment of the markets have also noted these patterns and have come to similar conclusions. Today, with the DJIA down 275, and the McClellan Summation Index well into negative territory, it sure looks like “the die is cast” for a recognizable conclusion of the H&S pattern over the next year or so, symbolizing a lot more negative days, on balance, in the major stock indexes. It is interesting that this time PM mining stocks seem to be holding up very well, at least over the last week.
As yet another indication of the rising repatriation of American money to it's birthplace, my company is dealing with an Australian concern that found us on the net and wants to buy parts and accessories and is willing to pay in advance.
Yup.Nickels are actually about 75% copper and cost about 10 1/2 cents to manufacture. It's time is coming quickly. Said it for effect. We all understand what's goin on. Question is, how long can they keep it goin.