Thursday, December 17, 2009

Fear and Loathing in Las Vegas

"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." H.L. Menken

Okay, so we've now spent over two years with a full dose of chronic fear tactics and once again we're told that without the Health Care Bill passing the government will be bankrupt? It doesn't matter which side of the issue you're on, the point is: these strong arm fear games are getting rather transparent and definitely getting really old. Welcome to Hope and Change. The more things change, the more they stay.... Maybe if they'd let a few banks fail there wouldn't be the need to bring up the "B" word? Somewhere lost in translation of the Constitution was something about promoting welfare, not providing it, but what do I know? It seems corporate welfare is at the top of that heap, doesn't it? But enough of my daily rant.  We’re having too much fun today to care!  And that’s how it should be.

Guess what's on the economic calendar tomorrow other than it's OPEX? Absolutely nothing! Ain't life grand? I'd like to share a few charts, including a weekly chart of SPX with about the simplest indicator of all time- the 20/40 week crossover. Take just a minute and mull over it and it just might be of good use to us all in the years to come. As DDT mentioned earlier this morning- welcome to all of you visitors to TTW, and please feel at ease to ask questions and post your thoughts. We all learn this way, and I know I speak for many traders here- there is a certain extra bonus as a trader when you can share something you know and help someone else. Yes, it sounds a bit too altruistic, but it's the truth. Good trading to us all going into the rest of the session and beyond- this group deserves the very best!   P.S.  for my fellow data junkies, I found the Holy Grail of sentiment indicator charts yesterday and then some, and if you haven’t seen this site, you’re going to love it!  Also.. ten points for anyone who can tell me the name of the character in the main picture above. 


Thank you FDX!

A Simple Trend Signal
This is a weekly chart with nothing more
than a 20/40 W SMA signal
SPX_20_40_W Now it was here that I was going to share a lovely little
Fear and Loathng video, but I stumbled on this last night and I’m as
hooked with this as I am DeMark right now. 
Argentine, Gustavo Santaolalla, is quite a talent. Enjoy!

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