Posts
Cash:
US Dollar: Very bullish
Euro: Very bullish
Yen: Very bullish
Canadian Dollar: Very bullish
Australian Dollar: Very bullish
Swiss Franc: Very bullish
Bonds:
US 30-Year Treasury Bond: Very Bullish
Hard Assets:
CRB: Very bullish
Gold: Very bullish
Oil: Very bullish
Stocks:
DJIA: Very bullish
S&P 500: Very bullish
Nasdaq: Very bullish
Dow World Index: Very bullish
Congratulations Ben Bernanke!
Technical analysis clearly shows that you've single-handedly created the foundation of a perfect prosperity miracle. No matter what investors do now, they will apparently be richly rewarded. Why did I ever doubt you?
Technical Analysis
Whether technical analysis actually works is a matter of controversy.
It works. Just wait. You'll see. Real prosperity is coming our way in huge chunks of ooey-gooey goodness!
I realized technical analysis didn't work when I turned the charts upside down and didn't get a different answer. - Warren Buffett
Nobody is flipping these charts upside down though. Ever. There's nothing but prosperity from here on out.
Super-goldilocks for the win!
Tuesday: Case-Shiller House Prices
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[image: Mortgage Rates] From Matthew Graham at Mortgage News Daily: Mortgage
Rates Start New Week With Some Hope
Last week wasn't great for mortgage rates....
3 hours ago
11 comments:
Good one, hee hee.
No worries, Bernanke today said the central bank will not allow inflation to go further than they want. I feel better.
Off topic,
found an old CD a bunch of my friends in the biotechnology program in college made around 1997-1998 and posted a song from it tonight. Take a listen, whats better than aspiring scientists trying to be rockers?
I know its sarcasm, but how can you tell its bullish? When I click I just see charts.
- jus me
GYSC,
I feel better.
You just can't put a "price" on sarcasm! ;)
jus me,
The technical analysis is found on the last chart within each link. Look for the fine print near the top of that chart. You should see the word "bullish" and a numeric price objective higher than its current level.
Of particular amusement, note that the US dollar is expected to rise substantially AND so are most other major currencies.
Good luck on that one!
Here's why:
U.S. Dollar Index
It's a bit like predicting that I am taller than my friend AND my friend is taller than me!
Hmmm, I'm not much for technical analysis. I prefer to focus on fundamentals.
Not that technical analysis doesn't have its place. I suppose it does, but I don't think it's a reliable indicator.
Same with football, which is a game of numbers. I get a kick out of the statistics guys come up with to analyze a game. Some of them are way out there. QB rating, which is derived from an extremely compicated formula, yards passing, yards rushing, TD/INT ratio, etc.
You know what the best indicator of who will win the Super Bowl is? Defensive Hog Index. This measures ability to stop the run, ability to generate negative pass plays (sacks and interceptions), and ability to shut down drives. Teams that score higher on the DHI almost invariably win championships. It's been that way for decades.
But the salient question is, why do some teams score higher on the DHI? Because they play fundamental football. So it's really the fundamentals, not the statistics, that matter.
Technical analysis cracks me up.
Say a stock is trading at $10.
A technical analyst will say: "If closes above resistance at $11, it could go all the way to $12. But if falls below support at $9, look out! it could fall all the way to $8."
Which is just a convoluted way of saying
8 < 9 < 10 < 11 < 12
Never fails!!
Having said that, I think the fine print on the chart says
"Bullish price obj. $XX"
Which I think means "If you are bullish, the price objective is $XX"
Technical analysts typically are willing to offer both "upside" and "downside" targets.
There's a lot of hilarity there. Apart from the nonsense of using the word 'analysis' to state the obvious ("The security might go up or down") there is the nonsense of the "price target."
What the heck is a "price target"?
TAs will say, "Stock is at $30, we're raising our target from $45 to $55." What the heck does that mean? I usually feel like responding, "Oh yeah? Well I'm raising my price target from $1 to $1,653,982."
-jus me
GawainsGhost,
If technical analysis could work in a casino then I could be a believer in it.
If EVERYONE used technical analysis to value investments I feel that I could make serious money using fundamental analysis.
If EVERYONE used fundamental analysis to value investments I don't feel that I could make serious money using technical analysis though.
Just an opinion of course.
jus me,
Which I think means "If you are bullish, the price objective is $XX"
Here's the full list to look at.
StockCharts.com: Market Summary
When stockcharts.com's technical analysis says bullish they mean bullish.
For example, there was one (and only one) currency that I did not show from their list.
British Pound
Bearish Price Obj.
Love your commentary on what a technical analyst would say.
A technical analyst will say: "If closes above resistance at $11, it could go all the way to $12. But if falls below support at $9, look out! it could fall all the way to $8."
Can't make the big bucks simply saying that a $10 stock could move to a price between $8 and $12!
Who is the biggest winner in technical analysis? Wall Street! Anything that gets people to constantly buy and sell in order to churn transaction costs is a good thing!
To back my claim, this is the kind of thing my broker sends me.
Market insight can help you develop and carry out your investing strategy confidently.
...
Intermediate: Using Price Patterns in Choosing Your Trades
Date: Tuesday and Thursday, August 17 and 19
Time: 9-10 p.m. ET
Why don't casinos offer free education as well?
I'm picturing...
Using Patterns in Choosing Your Bets at the Roulette Table
Surely someone would attend the free seminar and walk away from it more "confidently".
It is all about maximizing the confidence!
I said that wrong.
TA's don't just say "prices will go up or down."
Actually, they point out, "If prices move by a lot, they will also have moved by a little."
Whoo-hoo for TA mathematical insight!
- jus me
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