Damn, now I have to start my own journal! Enjoy your time off.... Around Christmas, I will get back to your annual predictions, it is a promise!
Surf - re: Copper. Whew, what a weak metal is has been past 2 weeks. Closed 3.44 basis Dec contract. 3.40 is mombo support. If broken, this guy is going below 3.00. Rationale: weak China demand; US housing market to turn weak again after a short-term spurt; the same-old, same-old: fiscal cliff looming large. Keep in mind, if Farmer was short from 4.00 and we go to 3.00, we're talking $125 million dollars in profit for the Englishman.
Ridiculous. I just don't make this stuff up....and wouldn't mention it if it was just a one off--- He's been down... http://www.iasg.com/groups/group/dunn-capital-management/program/world-monetary-assets-system-wma
Surf - a followup on copper: after the big move down (3.80 to 3.40), it has not budged past week or so. I think it's now got upside potential if the deficit issue is resolved and/or Bennie keeps QE3 alive. Usually it has been tracking with US equities, but no longer. The China story is taking it over for the most part. They're forecast to grow their economy by 7% in 2013.
Musical muse for the weekend.... <object width="560" height="315"><param name="movie" value="http://www.youtube.com/v/_8aes1pZP3Y?version=3&hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/_8aes1pZP3Y?version=3&hl=en_US" type="application/x-shockwave-flash" width="560" height="315" allowscriptaccess="always" allowfullscreen="true"></embed></object> All these kinds of places Make it seem like it's been ages And tomorrow's sun and buildings scrape the sky. I love this country dearly I can feel the latter clearly But I never thought I'd be alone to try. Once I was outside Penn station Selling red and white carnations We were still alone, my wife and I. Before we married, saved my money Brought my dear wife over. Now I work to bring my family stateside. Got off the boat, they stayed a while then scattered 'cross the coast. Once a year I'll see them for a week or so at most. I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh-ohh-ohh-ohh Practice isn't perfect but the market cuts a loss. I remind myself that times could be much worse. My wife won't ask me questions- there's not so much to ask. And she'll never flaunt around an empty purse. Once my mother-in-law came Just to stay a couple nights And decided she would stay the rest of her life. I watch my little children Play some boardgame in the kitchen [ From: http://www.metrolyrics.com/take-a-walk-lyrics-passion-pit.html ] And I sit and pray they never feel my strife. But then my partner called to say the pension funds were gone He made some bad investments, now the accounts are overdrawn I took a walk. (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh-ohh-ohh-ohh "Honey, it's your sun" I think I borrowed just too much. We had taxes, we had bills, we had a lifestyle to front. And tonight I swear I'll come home and we'll make love like we're young. Tomorrow , you'll cook dinner for the neighbors and their kids. We can rip apart the socialists and all their damn taxes. You see I am no criminal, I'm down on both bad knees. I'm just too much a coward to admit when I'm in need. I took a walk. (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh-ohh-ohh-ohh I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh I took a walk (take a walk, take a walk, take a walk) (take a walk, take a walk, take a walk) Ohh-ohh-ohh-ohh-ohh-ohh-ohh
SURF ALERT, SURF ALERT, SURF ALERT, SURF ALERT Special situation in YM march Going ALL IN here @ 13083 average--- stops @ 12098-- target the MOON! 12.21 lingering fears have created a primo opportunity to get into the market at an extreme discount-- we are in and long with 10 contracts and wide stops--- expecting 500 plus points. this is MONSTER surf
Here's my purely technical view on intermediate-term YM (Dow)... Sell signal on the weekly below 13054 with stop-loss above 13326. Profit target if right... no idea!