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Jim Cook of Investment Rarities interviews Ted Butler on silver
The Big Game for This Bull Cycle Is Over
By Kevin Haggerty
TradingMarkets.com
Friday, March 17, 2006
http://www.tradingmarkets.com/.site/Daytrading/commentary/khview/-
50168.cfm
http://biz.yahoo.com/tm/060317/14064.html
Erratic is as erratic was yesterday with the SPX +0.2% to 1305.33
(1310.45 intraday high), Dow +0.5% to 11,253 and QQQQ -0.8%, led by
the semiconductors with the SMH -3.3%. Today is Triple Witch option
expiration and St. Patrick's Day to boot, not to mention the Full
Moon this week.
It was energy up yesterday, with the OIH +1.5% and the XLE +1.6%.
The Dow diverged because of two below-the-line stocks, (GM), +3.3%,
and (WMT), +2.3%. NYSE volume was 1.65 billion shares, with the
volume ratio 64 and breadth +1116. The 4 MA VR and breadth are short-
term overbought and the SPX has entered a key price and time zone,
so any long position traders -- "heads up." There have been many
above-the-line (ATL) stocks that have advanced over the past 5-7
days and are now extended. Also, the contracted volatility patterns
have been resolved and if you are looking for stocks to position
trade but are having trouble, that should tell you something.
The reported economic news is totally distorted from reality,
especially the jobs data, because the Department of Labor can and
does just guesstimate on how many new company jobs were created.
That decision is very likely influenced by how the current
political climate is blowing.
Remember, the new Fed guy is the current administration's choice,
although the bogus decision not to publish the M3 figures (starting
this month) as Greenspan, and he had a Democratic allegiance. With
the wind blowing hard in Iran and Iraq, the Plunge Protection Team
(PPT) will probably be called to action on various occasions of
fear, but they started that game (that we know of) in 1987, which
they have admitted; now they think it's a tool.
Enron did it to a commodity and the Fed does it to the market, so
what am I missing here?
The media hypes rising interest rates and the Fed keeps printing
money at the same time while making token interest rate raises on
the other side, but the reality is they are still at the low end on
a historical basis.
The big "game" for this current bull cycle is about over and the
next excellent position opportunity will most likely be in 10/06-
3/07.
-------------
Kevin Haggerty is a full-time professional trader who was head of
trading for Fidelity Capital Markets for seven years. He now
operates Kevin Haggerty's Professional Trading Service.
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RECOMMENDED INTERNET SITES
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NEWS AND ANALYSIS
Free sites:
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http://www.capitalupdates.com/
http://www.silver-investor.com
http://www.thebulliondesk.com/
http://www.goldismoney.info/index.html
http://www.minersmanual.com/minernews.html
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html
http://www.investmentrarities.com
http://www.kereport.com
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm
(In Spanish)
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http://www.resourceinvestor.com
http://www.goldpennystocks.com/
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http://www.interventionalanalysis.com
http://www.investmentindicators.com/
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm
Ted Butler silver commentary archive:
http://www.investmentrarities.com/
----------------------------------------------------
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