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- 2006-7-3
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发表于 2009-5-5 13:44
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Wednesday, January 03, 2007Money Shot to Start the New Year
Greetings, my beloved fellow bears.
I introduce this year to you with some of the worst album covers of all time. Just to lighten the mood before we get down to business.




A merciful God has spared us from listening to the contents of the above albums on this blog.
I have so much to say, but honestly, I'm on the world's slowest network. So I'll have to keep it relatively basic tonight.
I rarely read USA Today. It is to journalism what Pamela Anderson is to dramatic acting. But I happened to see its cover story on Ten Reasons the S&P 500 Could Make a New High in 2007.
It was the usually claptrap bulls - - including Abby (ack! cough) Joseph (hack!) Cohen - - like to smear around. I will spare you the list, but the 10th reason they provided: "Because records were meant to be broken." What a bunch of nimrods.
I was delighted, of course, with today's action. We entered this year with the bulls snorting like mad. The GLOBEX was up huge yesterday. Markets around the world soared, including the parabolic Chinese market. And every blessed article on the stock market talked about what a fantastic year 2007 was going to be for the bulls.
So the market shot higher by 130 points. And I gobbled up a ton of S&P puts. Then the market starting sinking. It turned the other direction 170 points, but finally closed the day up 10. All the same, I'm not complaining. Serving up disappointment to the bulls is always a delightful treat, and this is a great way to start the year.

Here's the daily view of the S&P 500. Just take a look at today's range! What a tug-of-war!

I've been promoting the $XAU as a short ever since about $149, and it continues to behave nicely. This is looking better every week.

Now on for the straight charts. I am posting this so late, I don't have time for commentary, but I'll just lay the symbols out for you. BHI... |
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