do you guys do any reading for news on bonds etc? I just read the credit markets section of the WSJ...after the close, etc. Do you guys look at anything in particular?
Why don't you ask your good buddy Manolo how it is that on Monday he admits that the "S&P cannot be said to have run out of gas, for it has made a 52 week high just this past Friday, and is in a range" . . . To: "This is why I came to such a bearish conclusion over the Weekend that the correction is upon us." And finally today: "I forgot to mention a key ingredient that helped me reach my conclusion that a correction is upon us. The high price of oil." "The high price of oil is not helping. And the rise in bond prices is telling us that the economy isn't in full blown recovery mode we are expected to believe." Gee, how nice of him to make everything up as the market finally tanked! First saying that the S&P has not run out of gas and is merely in a range on Monday, even though he then says on Tuesday that he became very bearish over the Weekend. Throw in a couple of tidbits about the price of oil and strong bonds the day that the market tanks, and of course take all the credit in the world for making the right call, even though most of us here on ET can see through all of the inconsistency in his statements . . . because he is making things up depending on how the market trades. My favorite piece of Manola's technical analysis was this: For example, he spoke about "single trendline analysis" with dbphoenix today, yet admitted that he "flattened the bottom channel line to coincide with the support at 1120-1125." In fact, he further admitted that it's not exactly parallel. If that isn't called fitting the data to what your bias is, I don't know what is! Wow, now that's incredible, isn't it?
waggie, you are about to overtake harrytrader as the best threadkiller on ET -- can we stick to the subject and not have every other post be you sparring with your fanclub? [edit: ok, I see that your name is mentioned as a source for the start of this thread -- nvm, flame away as you like heh ]