Weekend Reading: Bull Market In Unemployment
Published September 5th, 2009 in Misc. Tags: Dow Theory, gold, links, news, news.tradersnarrative.com, rating agencies, Stiglitz, unemployment.For economic and market news and to see what interesting reading you may have missed last week, check out the list below. To see it all, go to news.tradersnarrative.com:
- Get a FREE Subscription to Futures Magazine (limited time for US residents only)
- Doug Kass Thinks “It’s Different This Time”
- How Did Economists Get It So Wrong?
- Contrarians see hope for gold breakthrough
- How the Natural Gas ETF (UNG) Distorts the Market
- More Questions Raised About Dow Theory
- The Earnings Season Debacle That Wasn’t
- Get the Elliott Wave Theorist for FREE (extended for just a few more days - get it NOW)
- Rating Agencies Must Defend AAA Junk in Court
- When to Exit a Trade
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“The Stock Market’s Generals Are Retreating” just goes to show you what a bad technical analyst Michael Kahn is.
“Even more bearish is the Aug. 28 session when the stock jumped up at the open and then jumped back down the next trading day. This left a pattern called an “island gap reversal” …”
“The pattern gets its name from the look of the chart on Aug. 28. All trading took place above the surrounding days’ trading and the bar for that day looks like an island in the middle of the sea. …”
1) There’s no “gap” at C’s August 28th high; 2) There’s no “island” either. LOL
That may turn out to be a significant top for C, but it won’t be because that was an island top.
And to think that Kahn wrote about how significant it was when he became a CMT (chartered market technician)
http://quicktakespro.blogspot.com/2008/07/finally-legit.html