3am chartastrology and more

I call it chartatology cause... I'm an idiot...

I use the dow because I believe industrials/materials lead the market.
These are the moves for the past 20 pluss days of this baby bear market(baby so far)... note to self don't use Jpg, next time.

First Bear leg
14198-13410(-788, 5 days)(one could also look at this like a (1 day, and half -480 move)
Bull leg
14410-13960 (+450, 8 days)


Second Bear..
13960-13440(-520pts ,1 days and a little)
bull 13440-13660(+,3 days +220)

Third Bear(wed morning)
13660-13080( -580 day and a half)
bull.... Remains to be seen.....

I expect to see an attempt at distribution here... Between 13080-13680... The futures break the fib. 76.4% .... So it looks like we will test the lows... maybe we test the 50% 13370 ish.

Maybe our next new low will be just a little lower... and we bottom at 12800... and our next dowm move will be -200... I can't imagine we won't find ourselves a little lower.. at least in the short term...

But this has been faster than I have expected... maybe we test march...

What I'm getting at is that we have to Decelerate before we stop... The market is like a truck, it doesnt' stop on a dime.... also... we could see a few days of distribution... Then capitulation...

Damn Look at the QQQQ Looks like someone took it out and shot it. Trust me, If I was short that crap it would have gone the other way

More on the Pesso

1.4751 new low in the USD/Euro
Libor(overnight) 4.558.. which maintains 2 days of being down a little.
Libor(3 month)4.887.. it has come up slightly after plunging post fed.

There are a few things that ... well markets don't dictate... I don't think the dollar weakness is because of a trade... I think it's weak because people arn't buying dollars to get Bonds, and they are selling out of Petro dollars to euro's... I just don't think that the short positions dictate the dollar weakness.
In fact I think the Chinese may have sold some dollars to make their point clear the other day...
but this is all speculation...

Paulson... how could he have been the CEO of Goldman, he is such a manipulative freak it makes me think the Illuminati are real.

The Chinese will dump all their U.S. Assets before they let the yuan appreciate...... do we want that? No we want them to let all their U.S. Assets depreciate vs their currency.

Important thoughts:... or not so important.

The Fed and bailing out the banks... I think if the job of the fed was to bail the banks out of their current problems, they would do it and drop another few quarter points.... I think they know they have a problem.

Hey No Dennis this morning on squawk... Thank god. Nothing against him.. I just don't get why CNBC would let him.


Bulls on Wall Street