I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.

I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.

Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.

and this is his latest recommendation:

In a public-service statement released today, Glenn Neely announced this prediction: The S&P has formed a major top in June, which will be followed by a large decline, eventually pushing the stock market to record lows for the decade.

In the press release, Glenn explains: "According to NEoWave, a correction began at last October's low; the March-June rally is the final leg of that correction. The March-June rally is now ending, allowing the bear market to resume. During the next six months, the S&P will decline 50% or more, breaking well below 500!"

Click to read the full press release: http://www.prweb.com/releases/2009/06/prweb2537224.htm

Patrice Rhoades-Baum
NEoWave Marketing & Public Relations

Jim,

Any reactions to the FEDs new powers?

Yes they need to read what Ben said right at the start of this credit crisis, first was there is no crisis then the subprime got worse then he said it was contained, then he said the maxixmum losses from this would be 200 billion max, 1 trillion later and still rising subprime meltdown countless banks insolvent inept stress tests and numerous things said then retracted and his plaster over the continuosly bleeding whatdo they do to doctor Ben not dismiss him, promote him to top consultant surgeon and give him virtual unlimited powers to save us some more and what will he do will continue to miss what is really going on and print dollars and run the economy into the ground whilst congress pats him on the back telling everyone he is doind a greta job under the srtessful conditions, a monkey could see what was going to happen yet the federal reserve and treasury hank the plank never saw this then continually underplayed its implications and they now give them even more power at the fed I dont know what they are doing but it reeks of something to me because geitner to me seems even more inept than Paulson and thats saying something. only time will tell

So, in other words same old, same old...

Same BS, different day. The more things change, the more they stay the same. It's the same old story, same old song and dance, my friend...

yes your not wrong Jim what pisses me off is doesnt anyone in congress pay attention to things of the recent past they are all moaning about this situation on behalf of their constituents but actually change nothing for them, so why are they still there, they are not helping anyone just giveing more power to the same people who got us here ridiculous it actually beggars belief in my opinion.

Here's a curious little factoid I just heard. The most curious thing is that I haven't heard it until now. Insiders have been selling for fourteen straight weeks now, this last week at a ratio of 9 to 1. At the March low the ratio was 1 to 1. But, wait, isn't that the technical definition of distribution? I thought they were accumulating? Buying the market that is too good to be true. They've been net selling since the first week of the rally? Are they sure about that? The guy I heard the other day, in fact I think it was the day after the recent peak, he said we must buy with reckless abandon, beg, borrow, and steal everything we can to buy, don't wait for the dip because it's mythical, it will never happen, even if you are retired or nearing retirement buy with all the cash you have and can borrow. Surely he can't be saying that and the insiders have been distributing this entire rally, and I am just now hearing that? They can't possibly have been duping the public, can they have been??? No way.

And I just saw one more part of this factoid, that this is the fastest exit from stocks by insiders in over two years. That means that at these bargain basement prices, the 'buy of the century' that we keep hearing about every day, the insiders were selling at the fastest pace since before the bear started, even faster than into the November sell-off. Hmmmm.

if that's really true then they must have some very deep pockets....

Now they bounce it like crazy in here?

I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?

http://www.zerohedge.com/article/tale-two-decouplings