Ben hasn't opened his mouth yet
#1
Posted 28 March 2007 - 09:36 AM
#2
Posted 28 March 2007 - 09:39 AM
#3
Posted 28 March 2007 - 09:45 AM
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#4
Posted 28 March 2007 - 09:45 AM
WASHINGTON (Dow Jones)--Federal Reserve Chairman Ben Bernanke said Wednesday that despite risks to both growth and inflation, the current stance of policy remains the right one to foster sustainable U.S. economic growth and a gradual easing of price pressures.
That suggests that despite recent signs of subpar economic growth, the Fed isn `t inclined to lower rates anytime soon, especially with underlying inflation, in Bernanke `s words, "uncomfortably high."
"To date, the incoming data have supported the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing of core inflation," Bernanke said in prepared testimony to the Joint Economic Committee of Congress.
Bernanke issued a series of cautions about both the economic and inflation outlook. He said the prospects for housing "remain uncertain" and the sector will remain a drag on growth "for a time." Meanwhile, problems in the subprime mortgage sector "raise some additional questions about the housing sector," Bernanke said, and the Fed "will continue to monitor this situation closely."
Despite additional headwinds from slower business investment, Bernanke said he expects the economy to expand at a "moderate pace" in coming quarters.
IMHO don't get in front of the train. The Yen is trending strongly 120,60,30,15,5 bar; -- Not a good
trade IMO long on the indices till the Yen stops moving. What does it take for a currency to correlate
to a stock index. Why would a central bank allow that to happen... If they could stop it.
#5
Posted 28 March 2007 - 10:04 AM
#6
Posted 28 March 2007 - 10:17 AM
Haven't quite figured out whether you're posting all these Bernanke threads
because you're bullish and you want everyone else to go long ... or it's
because you're bearish and want the same.
I couldn't care less what other people do. My post is an observation of what has occured in the past. That single observation doesn't change my overall trading view at the moment.
For the record, I'm leaning towards wave B, with potential wave C having started.
But I think for wave C to start, there needs to be a bit more distribution and a bit more sentiment shift amongst the public. Doesn't mean it hasn't started, but I am not seeing the "buy the dips" mentality yet. I would much rather see a slow decline that accelerates downwards than a sharp reversal.
#7
Posted 28 March 2007 - 10:26 AM
Haven't quite figured out whether you're posting all these Bernanke threads
because you're bullish and you want everyone else to go long ... or it's
because you're bearish and want the same.
I may be mistaken, ....esp because I do not follow many of dcengr's postings but if you are asking if
he was recently Long vs Short,...the last post I saw he was going or holding Long.
I'm sure he can give you a more clear update to the position if this is what your are asking.
Best to all trading today
Edited by Mr Dev, 28 March 2007 - 10:27 AM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#8
Posted 28 March 2007 - 10:36 AM
he was recently Long vs Short,...the last post I saw he was going or holding Long.
You would be mistaken.
To clarify, I did not post anything saying whether I was going long or holding long.
I could be holding longs, but I've never posted that I did. I could have posted bullish sounding posts, but that does not imply I went long.
Edited by dcengr, 28 March 2007 - 10:41 AM.
#9
Posted 28 March 2007 - 10:53 AM
Edited by Mr Dev, 28 March 2007 - 10:55 AM.
.. .. ..
Mr Dev
......trading is basically a simple operation, but you have to be a genius to understand the simplicity.
.....timing,..... is ....everything !
... remember no guessing visit MrDev!
#10
Posted 28 March 2007 - 11:10 AM
Well either way,... positioned,...or not it doesn't matter at all to me.
I just checked a few posts and you've been posting for days predicting a SCORCH for today, while also advising
that the b wave is not over yet and should extend for a few more weeks before c starts.
I can understand how some folks could be confused if you're not long.
And you may be right on both calls,..... but why wouldn't you bet on your own advice with a scorch so eminent
today. Not a question but just evidence to what folks may be thinking.
Sorry for sticking my nose where it doesn't belong, I'm done for the day.
I posted my 1966 pattern above, which shows why I think wave B isn't done yet. You will note the pattern match is quite good, to the squiggle. This downpour was expected by me a few days ago, as I posted the same chart saying where we could be. And I would expect a reflex rally coming out of the last few days of downside to make a higher high as the 1966 pattern shows.
But longer term, wave B is the sucker rally, and wave C is the devastation. I want more evidence its wave B, and not wave 5, however.