We must begin to work our way back above 13,000.00 soon (read "tomorrow") or we are in a world of hurt!
As I wrote last night, the next stop isn't until we get below 12,000.00.
Be careful in the next few days.
Remember: "Dead cats can bounce too!"
E Rabbitt
Wednesday, August 15, 2007
Tuesday, August 14, 2007
It Goes Without Saying.......
I'll get right to the point. The market must hold 13,000.00 tomorrow or we could all be facing a very hard, long winter. Not one for drama and forever the eternal optimist, the facts are too overwhelming regarding the next 24 hours of trading.
The market first crossed over the 13,000.00 mark on April 25, 2007. We set the high on July 17, 2007 at 14,021.95. The scary part about markets that run up so strong in short burst of time is simply the fact that little if any consolidation takes place to provide true foundational support. There will be nothing under the Dow should 13,000.00 fail to hold. The first real test would come just under 12,000.00. After that, the next swing down would aim for the 10,600.00 range.
Value is no longer relevant to this market. The American economy is the same today as it was in late April of this year. The Twin Sisters are now the driving force of the street. Greed and fear are always lurking up and down the corridors of American investing. When left to roam the countryside unattended as they now are, the sisters become far more damaging to the general mental stability of the investing public.
Let us all hope for the best but let us clearly prepare for the worst.
E. Rabbit
The market first crossed over the 13,000.00 mark on April 25, 2007. We set the high on July 17, 2007 at 14,021.95. The scary part about markets that run up so strong in short burst of time is simply the fact that little if any consolidation takes place to provide true foundational support. There will be nothing under the Dow should 13,000.00 fail to hold. The first real test would come just under 12,000.00. After that, the next swing down would aim for the 10,600.00 range.
Value is no longer relevant to this market. The American economy is the same today as it was in late April of this year. The Twin Sisters are now the driving force of the street. Greed and fear are always lurking up and down the corridors of American investing. When left to roam the countryside unattended as they now are, the sisters become far more damaging to the general mental stability of the investing public.
Let us all hope for the best but let us clearly prepare for the worst.
E. Rabbit
Saturday, August 4, 2007
It's almost not fair. Really! :)
Saturday, August 4, 2007
Sweetgrass Burrow
It's almost not fair. Really! After all, I'm just a rabbit with no formal schooling, no corner office overlooking Wall Street and no secretary running here and there fetching me this or that. Yet, here I sit watching day by day as the street and all among it continue to fall victim to mistakes, misstatements and other dastardly tricks layered upon the investing community by the very, very few wise enough to conduct such machinations.
To borrow a phase from one of my all-time favorite movies: "It was old magic"
See, these tricks of the trade being plied against the investing public are as old as the hills. Nothing new here at all. However, while we in the animal kingdom have been able to survive BECAUSE of our remembering the past and the wisdom passed on by those who have gone before us, humans can not see that which has been tested true for all the ages. To put it in easy, simple terms: "Humans are too smart for their own good!"
The Dow closed down for the week again and we are short at the 13,409.00 mark. With the final number resting at 13,179.00 on Friday, we find ourselves up over 230 points since we posted our short gate two weeks ago. Again, remember, listen to the wind, watch the birds in the trees, put your ear to the ground and sit still. Believe what you see and know, not what you hope for and are told.
Alas, humans hate sitting still for any length of time and almost NEVER wish to observe, especially in this Internet instant age. Like I said, it's almost not fair.
E. Rabbit
Sweetgrass Burrow
It's almost not fair. Really! After all, I'm just a rabbit with no formal schooling, no corner office overlooking Wall Street and no secretary running here and there fetching me this or that. Yet, here I sit watching day by day as the street and all among it continue to fall victim to mistakes, misstatements and other dastardly tricks layered upon the investing community by the very, very few wise enough to conduct such machinations.
To borrow a phase from one of my all-time favorite movies: "It was old magic"
See, these tricks of the trade being plied against the investing public are as old as the hills. Nothing new here at all. However, while we in the animal kingdom have been able to survive BECAUSE of our remembering the past and the wisdom passed on by those who have gone before us, humans can not see that which has been tested true for all the ages. To put it in easy, simple terms: "Humans are too smart for their own good!"
The Dow closed down for the week again and we are short at the 13,409.00 mark. With the final number resting at 13,179.00 on Friday, we find ourselves up over 230 points since we posted our short gate two weeks ago. Again, remember, listen to the wind, watch the birds in the trees, put your ear to the ground and sit still. Believe what you see and know, not what you hope for and are told.
Alas, humans hate sitting still for any length of time and almost NEVER wish to observe, especially in this Internet instant age. Like I said, it's almost not fair.
E. Rabbit
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