The Last Line...

Ok, the last line of defense guarded by the low of 13 Nov has been cracked today. How much lower does the Dow has to go? Its really really hard to tell at this moment... this is what I frequently refer to as the period of White Uncertainty. This is the period of time where analysts go white over uncertainties and then rush to the charts and find all kinds of evidences to support one's own views. Indeed, it is a cold hard fact that technical analysis is capable of showing anyone anything they desire... eerie? yes... Hold on, you are saying that there is an objective way of doing analysis such that one correct answer is left? Just watch Kudlow & Co later tomorrow afternoon and witness for yourself the conflicting views of the genius economists and analysts of wallstreet. If there is one right answer, where did all these conflicting views come from? In fact, it is this conflicting view that keeps the 2 sided market running! Anytime more than half of the people are thinking the same way, we have ourselves a bubble or a crash! So, end of the day, there is NEVER one correct answer in analysis, which goes to show that the charts does indeed show you whatever you want to see... beware...

Well, I am for keeping America great too and I too believe that open market capitalism is the best path to prosperity (the Kudlow Creed!)!

I think it is time to take an early holiday and come back another day.