Could this be a double bottom or is the last close a really bad sign
I'm waiting on Thursday’s storage report for some guidance
Coin:
I believe we still have free markets but the premises are being altered and that gives instability and a perception of losing control
The perception on the market has gone from bull to bear a couple of times now.
My view is that fundamentally we should be very bear on the economy but the mood swings are because FED and co. are saying what we want to hear - everything is not as bad as we think
We are basically seeing FED & co. trying to change people's perception in hopes of changing their behavior.
So far it has worked with moderate success but eventually FED & co. will lose credibility and people's faith - That's where we will reign
Bottoms in markets don't occur with sticksaves or fed intervention. The vascillations are getting larger and larger (pointing to a crash) and should there be a bank run in the near term, everything could fall apart literally overnight. That's why I have some SKF always. :)
As far as gold - it will shine long term as well with competitive currency devaluation. Sucks that I bought in way too soon, but I am still confident I will be rewarded.
3 comments:
UNG
UNG closed @ 33.95 8/31 & 9/3 2007
And @ 33.45 9/2 2008
Could this be a double bottom or is the last close a really bad sign
I'm waiting on Thursday’s storage report for some guidance
Coin:
I believe we still have free markets but the premises are being altered and that gives instability and a perception of losing control
The perception on the market has gone from bull to bear a couple of times now.
My view is that fundamentally we should be very bear on the economy but the mood swings are because FED and co. are saying what we want to hear - everything is not as bad as we think
We are basically seeing FED & co. trying to change people's perception in hopes of changing their behavior.
So far it has worked with moderate success but eventually FED & co. will lose credibility and people's faith - That's where we will reign
Very well put Fish!!!!
As for UNG, could be in for a nasty pullback IMO, but i'm still gonna hold.
I'm long UNG. Ultimately this will be a winner.
Bottoms in markets don't occur with sticksaves or fed intervention. The vascillations are getting larger and larger (pointing to a crash) and should there be a bank run in the near term, everything could fall apart literally overnight. That's why I have some SKF always. :)
As far as gold - it will shine long term as well with competitive currency devaluation. Sucks that I bought in way too soon, but I am still confident I will be rewarded.
Nothing has changed for me except timeframe.
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