Friday 3 May 2013

12pm update - looking forward to the idiots

Despite the market decisively breaking out - especially apparent in the Trans/R2K, the coming weekend will be filled with another barrage of top callers. No doubt they will continue to raise their ceilings across June...July....August...and so on.


IWM, daily



Trans, daily


Summary

Its been a difficult week, but its going to end in a rather entertaining way. Just scroll through all the chart/blog pages this evening/weekend, and you'll see a whole new set of top callers.

This will be truly ironic, since today is clearly a BREAKOUT. It is merely day'1 of a grand new wave higher, one that looks set to continue for many months.
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Yesterday is even more amusing in retrospect. Bears get a mere 1% on Wednesday, only to see the Sp/Nasdaq close at new highs the very next day, lol.

..and here we are.. with absolutely decisive breakouts for the ENTIRE market.

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Without question, the Bernanke should be congratulated for today's great progress. Incredible, and all for the price of just 85bn a month. An absolute bargain, considering the US economy of 15 trillion per annum.