JI
jimkane
Rep: 3,058
Posts: 33,089
Merry Christmas to the greatest crew any forum every had. Keep up the good work. I hope I'll be able to start posting again soon.
AL
albert
Rep: 99
Posts: 3,094
Jim,
I hope your health situation improves as 2013 rolls around. Your website and works have been remarkable, inspirational, and a real bright spot of honesty in the financial world. I will strive to improve my ability to see the geometry of the markets' price action as I strive to become a successful trader.
Best Wishes for a Happy and Prosperous New Year.
Al Kamego
I hope your health situation improves as 2013 rolls around. Your website and works have been remarkable, inspirational, and a real bright spot of honesty in the financial world. I will strive to improve my ability to see the geometry of the markets' price action as I strive to become a successful trader.
Best Wishes for a Happy and Prosperous New Year.
Al Kamego
JI
jimkane
Rep: 3,058
Posts: 33,089
Well, what can I say about today as a trading day? On a scale of 1 to 10 it was a 12? It was sensational? Beyond comprehension? It all pales in comparison with the how incredible it was. And what was really crazy is I have come up with some new sentiment indicators of my own, and this was 'predicted' by one of them (it's based on doing the opposite of what a particular analyst says when he flips his positioning), dead on. I shared this with one student, in advance.
The high was right at the key area I was expecting it may reach to close the year. And right there it went. Only 43.50 points off the low. And all this with us going over the Fiscal Cliff!!! I'd have thought the Dow would be down at least 1,000 points. Instead the ES is up this much in essentially one session! This thing never changes!
So, anyway, as I think the economy is getting worse and worse, and the ECRI says we've been in recession, again (yeah, we got out, right...), for some time now, and I post that link about 2013, the main stream media and the gov tells us something else. Housing not only turning the corner, but starting to smoke. Many places in CA and Phoenix up 20%+ in the last 12 months. Many new records for sales numbers lately. Unemployment dropping like a rock. We'll have a 6 handle this year. Recall 6% is considered 'full employment'. In other words 'as good as it gets' for jobs.
Inflation not only totally under control, but actually too low, such that the Fed can print up some extra money (on top of the just under a trillion a year it is printing, and has said it will continue to print) with no worries about inflation. And the market, well, I don't need to describe how awesome and fantastic it is. For all intents and purposes, 'It doesn't get any better than this!'
Yet, somehow, it doesn't seem right. After all, the average home price in Detroit, the home of our auto companies that are now doing spectacularly, is just $6,000. Yeah, you read that right. $6,000. If that's the average, then many must be below that price. Houses, with land, for $2,000? $3,000? In a major city, the home of our awesome, super-profitable auto industry? Maybe something is wrong with what they are telling us...
So, Happy New Year.
The high was right at the key area I was expecting it may reach to close the year. And right there it went. Only 43.50 points off the low. And all this with us going over the Fiscal Cliff!!! I'd have thought the Dow would be down at least 1,000 points. Instead the ES is up this much in essentially one session! This thing never changes!
So, anyway, as I think the economy is getting worse and worse, and the ECRI says we've been in recession, again (yeah, we got out, right...), for some time now, and I post that link about 2013, the main stream media and the gov tells us something else. Housing not only turning the corner, but starting to smoke. Many places in CA and Phoenix up 20%+ in the last 12 months. Many new records for sales numbers lately. Unemployment dropping like a rock. We'll have a 6 handle this year. Recall 6% is considered 'full employment'. In other words 'as good as it gets' for jobs.
Inflation not only totally under control, but actually too low, such that the Fed can print up some extra money (on top of the just under a trillion a year it is printing, and has said it will continue to print) with no worries about inflation. And the market, well, I don't need to describe how awesome and fantastic it is. For all intents and purposes, 'It doesn't get any better than this!'
Yet, somehow, it doesn't seem right. After all, the average home price in Detroit, the home of our auto companies that are now doing spectacularly, is just $6,000. Yeah, you read that right. $6,000. If that's the average, then many must be below that price. Houses, with land, for $2,000? $3,000? In a major city, the home of our awesome, super-profitable auto industry? Maybe something is wrong with what they are telling us...
So, Happy New Year.
