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Saturday, February 27, 2010

27 Feb March

The pattern has been the same, buy the dip at 11am and sell the top at 3pm.
bloggers, Ellioticians trying to make sense of it. all wanton effort. The market maker trying to hold at current level, i.e. below Angel's gate at 1111.

Meanwhile, a lot of background moves in congressional bills, legislation. Like the Chris Dodd consumer protection agency would not be independent afterall, Volcker rule would be watered down. Some Freddie Mac announcement. Also news of China loading treasuries through 3rd party in London.

on 25th, Russian website released rumour of China buying IMF gold. That completes the story, earlier this year, Sri Lanka, India announced. Now China. Would not be surprised that China has been accumulating Gold in open market incognito through this past week.

Generally, all markets ready for one last hooray in March. We would see SPX back to 1150 level, if not 1200. While Gold would breach 1300.

The much anticipated March rally is coming, it is going to be swift. For those who are short, time to take loss on 1 March, and re-enter at higher level.

the recent decline has stalled. The big boys are still loaded on the long side, need to have some more volume to distribute.

Monday, February 22, 2010

22 Feb 1111 the language of angels

google 1111, and you would find some interest post on 1111.

Probably market would hover around 1111, till Bernanke give his testimony, to give excuse for the Discount Rate hike.

In Singapore, the government is implementing policies to deflate the public housing, e.g. loans not more than 80% of value. (in other words, the Bank can tolerate a drop of 20% of house values). Also tax on property flipping within 1 year. These are mild policies. As China immigrants in Singapore, as well as short term investors from China are loading up on public houses in Singapore as a form of hedge. Monies from China ha now flown into Singapore.

Water front houses (with only 99 years lease) are popular with rich British, and middle-eastern. Not knowing that as sea levels rise, and sudden tidal surge, water is right at their door step.

In China astrological calender, the 4th Chinese agriculatural calender month, sometime mid May (13 May onwards), is a treacherous month. As does the 7th (mid August) and 9th (October).

Hence we have a 2 months of potential rally into end of April. Possibly SPX into 1200.

Hence traders be nimble, and agile and reap free monies from a Bernanke sponsored rally.

That means that his testimonials is going to be well received by the market, no matter what he is saying.

Not all markets would rally to the same degree. I forsee GOLD giving its last and final rally. As does Silver and Crude.

Hooray !!!! I welcome this move up to shed some Fats.

The Angels would once again be raped.

Friday, February 19, 2010

19 Feb Tightening

Has FED tightening begun ? I tend to believe that Bernanke would not tighten before the Nov election.

Now the Americans are really angry, ramming plane into IRS building. Think we would see more American vigilantes in coming months.

Tea Parties would start to sprout through the American land.

Somebody actually post a Elliot Wave analysis since Christopher Columbus time. May be when the last Mohican died, it was the start of the Grand Supercycle 3.

Today is OPEX, and FED made the annoucement of Discount Rate hike at the close of market. Now Bernanke is in cahoots with the Squids trying to drive the market down.

As the saying goes, do not stand in the way of the FED.

Denninger, the market ticker guy, asking Obama to confiscate all of China US Treasuries holding. Bankrupt your banker and walk away debt free.

Meanwhile, a Catholic cemetry in Hong Kong was desecrated.

The world is getting stranger by the day.