He will be in senate. he does the banking Committee a dayafter he does House. What he will do is repeat the story. He tells about GDP and rates of growth. And the interest rates and keeping inflation whatever (low and lower) The twist for tomorrow is the Q's. The Q's are terrifying. Jobs going out. Answer will be that it is going to continue but US people will still do better. Job creation. Ans. He will say that jobs will be created because money is cheap and businesses can use it to expand and hire. deficits. He will say that they are bad and getting worse faster. Then he will say we will have to pay more money for borrowing. Then he will say foreigners who are buying our dept may not continue to be there to buy it. He will say that we do not have fiscal discipline right now. He will say to not do deficit planning anymore. they will ask what to do. The Senate is very different than the house. They are blamers mostly. So tomorrow we get to hear a lot of downside after the beginning GDP. O'Neil and Greenspan are buddies (25 years). They both have just gone through being screwed by Cheney. O'Neil has screwed Cheney back. Greenspan is going to lead the Senate blamers to the scent. They will get pissed. Greenspan is a problem solver. Bush is a victim of idealogues advising him. Greenspan is going to get the idealogues dumped ASAP. Cheney is head rat in this. Your can see that the econ policy guy at EOP is Cheney hire and a half assed idealogue who couldn't make it in academia. Huges has already been canned. Four people need to go at his point. Greenspan is going to put the dogs on the hunt to "fix" the WH. It is definitely busted. (202)- 456-1414 is the # I used to use. LOL. Greenspan has a separate set of indicators he used aside from government indicators. It is called "running the numbers". The list is hard to come by and it takes about 15 minutes on a daily basis. What he gets is a highlight of where hot spots (bad situations) are. The list leads fed indicators by 2 months. He has the year end stuff already sieved and it is unofficial. If he says the words "near term" and it is vague to you, then what he is doing is giving the people capable of "running the numbers" like he does an advance on the record warning. There will be at least three come up. they are really tough ones to deal with.* Summary. We will only make half as much money tomorrow as today. It will be under 50% of margin/contract. *I am one of the people who was "on call" after EOP press releases for at least three admins. The EOP is in immediate trouble presently, economically speaking. People have to go. Read the quotes of the two guys who have quit so far. Whartons church guy and the Alcoa ex CEO. They were screwed by the idealogues.
Thanks for the overview, very interesting, still learning about economics and monetary/fiscal policy (considering majoring in economics too). Now the question is, will you be making your money tomorrow on the long side or the short side?
Grob109, You mentioned that you have a beginner that is starting to scale into winners. Could you go into more detail regarding scaling? Could you also maybe relate them to the different Parts so that I may have a better understanding of the Parts. I have an inkling of what you mean by different parts but am not sure if I am correct. I might be totally wrong but i would appreciate it if you would correct me. Part 1 is the intial takeoff(pt1-pt2), Part 2 is the beginning pullback(pt2-pt3), Part 3 is the traverse from right to left(Pt 3-FTT), and Part 4 is from FTT-consolidation channel. JC
TGregg, Sorry about that. I posted a copy in the SCT Trading thread. I would really appreciate it if you would delete that post. JC