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All four Major Averages closed in the lower half of their range for the day
By Rob | May 14, 2008
” Gazing at Warren Buffett’s style drift (manifested in Berkshire Hathaway’s large first quarter derivate losses) he might be increasingly viewed as the New Millennium’s Ben Franklin, a man who wrote “early to bed and early to rise” but spent many of his evenings in France, whoring all night and showing up to work after noon (to the massive frustration of John Adams).” D. Kass
Take a look at this chart, we still need to cut through 1420, however, the chart is not looking that bad. If you have good stocks ideas, join the club and share with me. The quote above is from Doug Kass, who wrote a negative article on Berkshire and is currently shorting these shares. Besides that, an Austrian man confesses to killing five family members with an ax, police say, in a depressing story which made me sick and sad.
Shooting Star: A single day pattern that can appear in an uptrend. It opens higher, trades much higher, then closes near its open. It looks just like the Inverted Hammer except that it is bearish. 
Bonds and Critical Thinking 101 :
Bond fund leader Pimco’s Mohamed El-Erian on Wednesday said the Federal Reserve’s monetary policy may not help the economy to escape a severe recession caused by falling home values and rapidly rising consumer prices. Well, what do you expect from a bond fund manager, to tell you ” Everything is going to be well, buy equity, sell bonds”?
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Topics: Uncategorized |
May 15th, 2008 at 4:39 am
It seems to me that SP-500 is forming double top.
Very similar to double bottom in March.
Short in May and go on vacation till October.