Sunday, November 7, 2010

11/07/10 Update - To The Moon Alice!

Ok...a refitted happier green trend line. It does show that there is still a wee bit more to the advance. Looking for the 1228 target mentioned on Thursday. The Honeymooners was in reality before my time, but Ralph always threatened "To the moon Alice!" but he never laid a hand on her as far as I remember :) Alice never made it to the moon...and neither will the market.
We only sit on the outer BB's for so long before we revert back to the mean. If our economy is so good, why is Bernanke initiating all those bond buys? China is to us as we were to Great Britain...The next century will belong to them...for us its going to be a struggle just to maintain status quo.
The next turn in the BPSPX:CPC is going to be the big one. For now its better to stay on the sidelines until we get an indication of the turn.
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