Let's start the week with this funny article. My answer to the question, laugh or cry, is definitely cry. I have seen a similar article about Greenspan, and it was equally pathetic. How we ever get to the point where we worship characters like this, and put them in charge, I can't even fathom a guess. Or how the 'citizens' just tolerate it and keep worshiping...

http://theeconomiccollapseblog.com/archives/say-what-30-ben-bernanke-quotes-that-are-so-stupid-that-you-wont-know-whether-to-laugh-or-cry


Understand, this article was posted in Dec 2010, but is till quite valid. I wonder how many more bad reads he has done since then?

ES bullish ABCD here. I'm thinking it won't hold. I'm not thinking about any real downside, I think it likely will hack and chop the area up, then maybe go up. Just a thought. I sure wish it would go down, though...

So, when the word is the Fed wouldn't dare act right before the election, look at the Euro and Aussie (and inversely, the poor USD), and it is clear this is correct, the market is already pricing in $850 billion in QE this Thursday (when the high end estimates are for $600 billion, and not until December). Insane.

http://www.zerohedge.com/news/market-expecting-850-billion-new-qe

Hmmmm, what's this? Stab fake down and now up? That would seem the only viable explanation for this break down through the ABCD. I'm still 'hopeful' it's 'for real', but we all know the game all too well...

The truly key spot is at this .382, 1.272 ABCD, line and so on, here at this 31.50 low. I'm hoping it gets hammered...

C'mon, throw me a downside bone...

I can't complain. I got some selling yesterday, quite nice. Then it bounced very strongly right off the area I mentioned last night. Now at least some movement down here. So, I'm not really complaining, more just cheering my team on.

But it wants to move up, I can tell...

Well, I'll be. The 'bulls' couldn't get it done there. Now give me my breakdown and flush. Please.

Okay, not bad, now let's see what it does when the AH session opens...

fib city at the line

rat;;

lost your e mail can you send it?

And here's a closer view to real-world inflation already:

http://www.verifythecpi.blogspot.com/