Seeking Alpha

David Knox Barker's  Instablog

David Knox Barker
Send Message
David Knox Barker is the founder of Market Cycle Dynamics, LLC, and the publisher and editor of The International Market Cycle Dynamics Letter. Barker is one of the world's foremost experts on market cycles and the global economic long wave. He is the author of The K Wave; Profiting from the... More
My company:
Market Cycle Dynamics, LLC
My blog:
MCD Weekly Briefing Blog
My book:
The K Wave; Profiting from the Cyclical Booms and Busts in the Global Economy - eBook
View David Knox Barker's Instablogs on:
  • The Market Cycle Dynamics Of Intel (INTC)

    They say the proof is in the pudding. Upon first encountering the proposed market cycle matrix of the late market analyst PQ Wall, from the Kondratieff long wave down to the 20-week cycle, it was dismissed by this author and fellow market cycle researcher. It simply could not be true. The conclusions were clearly the results of an obsessive-compulsive disorder in an otherwise gifted financial market analyst. Years later, coming to a frustrating dead end with the work of Harvard economist and cycle theorist Joseph Schumpeter, and his smaller cycle work presented in Business Cycles, PQ's claims were studied more closely. The results of further inquiry into the mind and market matrix methods of PQ Wall were shocking. PQ Wall has changed market cycle theory forever, and his maverick thinking may hold the keys to even greater mysteries of the universe.

    PQ was clear in his claims. If you could see past his always entertaining and endearing but bombastic style of presentation, his claims were clear. He viewed cycles as fields of human activity manifested in markets. He boldly claimed to have discovered the wave function of global economic and market cycles. He claimed that the cycles all fit together in a matrix of market action with divisibility by 144.

    PQ Wall made a quantum leap in market cycle research. His discoveries apply to both major equity indexes and individual security analysis. To my knowledge, PQ was the first to recognize that economic and market cycles are actually a form of quantum field guided by wave functions. These fields are unfolding in human action that is priced in markets. Instead of space-time, market cycles unfold in price-time. Evidence is growing to support PQ's claim, as indicated in a chart of Intel (NASDAQ:INTC) provided below.

    First, a more detailed explanation is required. The Kondratieff long wave is a big cycle that explains the boom and bust cycle in the global economy. Wall proposed that the long wave ebb and flow of prices, corporate efficiency, profits and stock prices, when divided by 144, produces a miniature version of the long wave generational cycle. Investors and traders historically know this miniature long wave as the 20-week cycle. This cycle was rechristened the Wall cycle in the 1995 edition of The K Wave in honor of PQ Wall, now out in The K Wave (2012) eBook.

    PQ made the radical proposal that every business cycle has nine Wall cycles. The 16 business cycles in the long wave make 144 Wall cycles. The current business cycle has been clicking through the expected Wall cycles. Central bank intervention lengthens the natural cycle. QE is a pesticide of sorts; it works temporarily but ultimately does a lot of damage to the soil of human productivity. By flooding the global financial system with liquidity, the central banks appear to have managed to grow the cycle and buy a higher low in the current Wall cycle #6 within the current business cycle. It appears as if a new global Wall cycle rally is developing.

    PQ Wall's theory was tweaked using the 42-month cycle to determine that the ideal miniature long wave "Wall" cycle wave function is 141.9 days, but they fluctuate in price and time by degrees of freedom in Fibonacci ratios of this ideal length. Central bank intervention cannot stop the cycles, but they can make them run long. The most recent Wall cycle is a great example.

    The chart below demonstrates price, time and sentiment in Wall cycles 4, 5 and 6 in the current business cycle in Intel . The chart was generated with Market Cycle Dynamics (NYSE:MCD) software, which runs with Metastock, by Equis, a Reuters company. This business cycle started at the 2009 lows, so the chart below shows the middle three Wall cycles in this business cycle.

    Remarkably, you are looking at Wall cycle fields of human action in Intel, which includes everyone, management, employees, investors, customers, suppliers, central bankers, politicians, etc. Cycles are produced by human action in pursuit of purpose. Large cap companies have hundreds of thousands, if not millions of scientists, accountants, investors, operations and management pursuing their purpose.

    Market cycles are tracked in price-time instead of space-time. They are essentially a wave function in financial markets. Look at that chart closely. That Wall #4 cycle ran within a few days of a Fibonacci 50% degree of freedom longer than the ideal 141.9 day Wall cycle. The Wall #5 cycle was within days of a crowd pleasing ideal Wall cycle. The 141.9 day Wall cycle is a natural law of market cycles. Wall #6 was within days of a Fibonacci ratio 100% extension of the ideal Wall cycle.

    (click to enlarge)INTC

    All three of these Wall cycles fit nicely in a 50% extension of one-third of the business cycle, called a Kitchin 3RD. If you do not marvel at what you are observing on this chart, you do not understand probability theory and that investing at the right price and time is a game of odds, and you want to have the odds on your side as often as possible.

    Speaking of price, you probably did not notice that recently Intel hammered the Level 2 golden ratio in price at $24.91 and reversed nicely, in addition to the latest Fibonacci degree of freedom Wall cycle time target. Clearly, the truth is much stranger than fiction when it comes to market cycles. Physicists call this sort of field activity quantum weirdness. Investors and traders tracking cycles do not really care what you call it, as long as it works. PQ claimed he had discovered a grand unified theory (NYSE:GUT) for markets, and beyond.

    The deeper meaning of what he discovered are not entirely clear, but keep an eye on that Level 1 23.6% target at 27.11, now the 50-Day moving average in the early going of a new Wall cycle. If this is a fake Wall cycle break out, and a Wall #6 crash is in order, large caps like INTC at junctures like this will tell the story. If the Wall cycle #7 rally is for real, this chart will tell us shortly. You will be amazed at price action around the Level 1 and Level 2 grid targets. Of course, it is nice for investors and traders to have these price and time targets in advance. The grids track the trading algorithms of the quants coding program trading for hedge funds and high frequency traders (HFTs).

    There are three more Wall cycles to go in this business cycle. It promises to get much more interesting for cycle trackers into the business and long wave cycle low in 2013. The same debt, corporate efficiency and stock price trends in major market indexes in the big cycles are evident in global franchise large caps like Intel in the smaller cycles. Buckle up, it promises to be a wild ride on the cycles into this business cycle low.

    As proposed by the value investor master, Benjamin Graham, the Wall cycle provides a formula timing plan for investors and traders, buyers and sellers. Take a look at any large stable global franchise company, the more dividends the better. You can track the Wall cycles, and their degrees of freedom targets in time, if you know how. You can identify buying and selling opportunities to increase your portfolio alpha.

    You can use the ebb and flow of the Wall cycle to snap up bargains on large cap global franchise companies that pay good dividends on a regular basis. Using the Wall cycle as a buying signal reduces risks. However, the current Wall cycle is not a buy and hold cycle. Bigger cycle trouble is brewing in the long wave cycle wave function. Track the cycles to be prepared, but in the meantime use the smaller cycles, Fibonacci grids and stochastics as a formula timing plan in price, time and sentiment.

    As far as determining whether PQ Wall discovered the wave function of the grand unified theory, this will have to wait for further research. It will require physicists to explore the mounting evidence in financial markets, but the market cycle dynamics clearly visible in Intel in price-time is a start.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: INTC
    Jun 18 3:33 PM | Link | Comment!
  • The Fed’s Inflation Target; QE3, QE4, QE5, Etc. Are In The Queue
    The U.S. Federal Reserve policy announcement on Tuesday, January 25, 2012 marks an important moment in monetary history. The forecast by a majority of the members of the FOMC for interest rates to hug zero until late 2014 was of interest and points to the FOMC conviction extended global economic stagnation at best, reflecting the long wave forces at work in the global economy. However, more importantly, it was the first time that the U.S. Federal Reserve has clarified its interpretation of its mandate for price stability, i.e. the target for inflation.

    This announcement is preparing global markets for the primetime monetary super bowl of inflation vs. deflation, aka U.S. Federal Reserve quantitative easing (QE) driven inflation efforts vs. a Kondratieff long wave debt deflation depression. Since bad debt is the problem in a long wave debt deflation, the Fed plans to buy all the bad debt required to hit their inflation target and put it in on their balance sheet until it matures and repaid or is written off. The Fed only has two mandates; maximum employment and stable prices. These objectives are a bit sketchy and have not been specific targets historically, so an actual inflation target sends a clear message.

    The Fed officially informed market participants that its target for inflation is two percent. The Fed is signaling to global markets the message that below this level of inflation, they are within their mandate to keep the monetary spigots open by buying any debt, and therefore we can anticipate additional rounds of QE released from the queue on a regular basis over the next few years if inflation falls below this target.

    The CPI, like interest rates, is following its natural long wave trend. It is on schedule to reverse higher in a new long wave spring in 2013 and beyond. Unfortunately and ironically, the Fed's attempt to produce inflation could prolong the deflation by socializing bad debts and weighing down the U.S. and global economy. The CPI annual rate of change below demonstrates the long wave forces at work.

    The natural global long wave disinflation and deflation is in the process of clearing non-viable bad ideas out of the global economy with what Schumpeter called creative destruction. QE wants to keep those bad ideas in business, taking profit and reward away from the more prudent and better ideas in the market. The problem is that central banks are pouring trillions of additional debt into the economy when a long wave spring is right around the corner. This creates a real risk of hyperinflation once the long wave winter season is over and a new long wave spring gets underway, a real life bonfire of the vanities.

    This is an election year. The Federal Reserves likes to be removed from the economic equation in election years. Unfortunately, in light of a long wave winter season of debt deflation and overproduction in an anti-business political environment, they represent a very large piece of the U.S. and therefore global economic equation. The inflation target announcement is an attempt to put their cards on the table early in an election year cycle, an election year that promises to be driven largely by global economic, financial and monetary policy news.

    The more the U.S. Federal Reserve attempts to stop deflation with quantitative easing, the more other central banks around the world are buying gold. Gold is becoming the natural alternative world reserve currency with every new round of QE released from the queue. The chart below demonstrates a Fibonacci projection grid that reflects the desire of central banks and others to boost their gold reserves. Gold is trading like a currency, because it is one. Gold was snapped up as it corrected down to the golden ratio in the projection grid in late December. There is something extra compelling about the forces generated by a golden ratio on a gold chart. The price action of gold is directly related to actual and anticipated QE programs.

    The Fed has basically announced that below that two percent inflation number, their balance sheet will keep on growing with new QE programs, including reinvesting the earnings of their growing portfolio and QE3, QE4, QE5, etc. The further inflation drops below two percent, the larger the new QE interventions and debt purchases are likely to be. Markets and investors now have an important piece of the Fed's game plan.

    The two percent inflation number represents the level of inflation below which the Federal Reserve will feel additional debt purchases are within its mandate. There is nothing to stop them from going beyond government bonds and mortgages. The Fed has the authority to buy Zimbabwean sewer bonds if necessary. The Fed has enjoyed this power since the Monetary Act of 1980. Let us hope that sort of QE is not deemed necessary as the debt disaster continues to engulf the global economy. The $7 trillion plus, depending on who's numbers you use, that the Fed loaned out in recent years reflects just how far they are willing to go to stop the long wave debt deflation.

    The call for another trillion dollars in QE in the mortgage market has already begun. However, there are tens of trillions in debt in the system, much of it potentially bad debt. This debt is in various stages of a great long wave winter season deleveraging. It is presumptuous to think that only a trillion more or so in QE can stop the potential deflation and get inflation back up to two percent.

    Unfortunately, as the global debt crisis accelerates, it may take far more than a few trillion in QE to stop the deflation. Will it work? No one knows for sure. It may take $10 trillion or more. Even then, the debt levels are so high that global debt deflation could still get the upper hand, and accelerated deleveraging could and likely will trigger deflation and not inflation. Is there the political will in the U.S. to stomach $10 trillion in QE if that is what it takes to get to the magic two percent inflation rate.

    The cumulative effects of the QE in the system has produced a late sugar high in U.S. economic activity that will wear off shortly. When it does, the business cycle is going to turn down hard. Taxpayers know they must be taxed to pay for the debts created by QE purchases of government bonds. This puts a damper on economic activity in the form of a QE hangover, and no one knows where the level of QE triggers systemic shock.

    The amount of QE required to stop the deflation will paralyze those that know they will be the ones required to repay the debts produced by QE bond buying. Economic activity will slow, triggering more debt defaults, and more deflation. A vicious cycle and not a virtuous circle will produce only more ineffective debt and more deflation, just like in Japan for the past 20 years.

    To track the impact of past and future QE keep an eye on commodities. Commodity prices are a good reflection of how the battle is going between the Fed's QE driven mandate targeted inflation and the forces of Kondratieff long wave deflation that threaten to pull the CPI under two percent and then negative.

    Take a look at the chart below of the CRB commodity index. In spite of the trillions in intervention and QE in recent years, the CRB appears to be signaling that deflation and not inflation has the upper hand. Keep an eye on the Fibonacci drill-down grid in the CRB. The Level 1 support at the 38.2% target of 293.42 appears to be critical. If that support goes, debt deflation is laughing in the face of trillions in QE, when tens of trillions in debt is rolling over. Presently the CRB is knocking on the door of the Level 2 38.2% target of 319.76, so QE inflation has the wheel at least for the moment.

    In the end, using QE to manipulate inflation rates toward the announced two percent target will not work. The only way to counter the forces of debt deflation will be aggressive pro-growth policies and spending cuts, which will restore confidence to business and investors and get the real global economy moving. Fortunately, the global economy is on the cusp of a new long wave spring season in 2013 and beyond. Aggressive and pro-growth economic policies can mute the natural forces of debt deflation at work in the long wave cycle. Unfortunately, slow growth tax and economic policies are in place now that will slow the coming spring season.

    QE programs are a government-sanctioned and central bank administered process of shifting financial risks and losses from the parties that created the risks and losses onto innocent parties, the taxpaying public. Essentially, profits are being privatized and losses are being socialized on a massive scale. By shifting bad debt from private hands onto taxpayers and extending the maturities on the debt, the central banks are essentially shifting the financial risks onto the unsuspecting public in a future cycle. QE lengthens the cycles, but it does not stop them. The long wave, business cycle and trading cycles are simply expanding.

    The expectation had been for political constraints to keep unlimited QE in check in the United States and globally. Clearly, the politicians are giving central bankers a green light and free reign to continue the QE and shift the risks onto the public. Based on statements, it would appear that no limit on QE is on the table. Essentially, trillions more in QE is not out of the question.

    Political forces could still emerge to constrain the central bankers, but this is growing less likely. If political forces do not emerge to put a limit on the QE, although deflation remains the most likely outcome, the risks of a deep debt deflation V shaped crisis is declining. It is clear that the central banks are willing to use QE on an unlimited basis. Trillions in bad debt will be transferred onto the public in the final phase of this long wave winter season. The coming long wave spring will be a shadow of its true potential for global growth due to the maturity on the debts being extended and shifted into the next long wave cycle.

    If the central banks show restraint, it is possible that pro-growth policies, combined with a global long wave spring season, the economy will start to turn the corner by mid-2013. However, without fiscal constrain and responsibility, and if excessive QE is on the balance sheets of central banks, it will turn into an inflationary force that will do great damage.

    By mid-2013, after multiple additional QE programs in pursuit of the two percent inflation target, the amount of QE in the system may be so high that it threatens the foundations of the global economy. The Fed and ECB will both likely engage in QE in pursuit of the illusive two percent inflation target. The QE attempts to stop global debt deflation will likely turn into hyperinflation.

    If PQ Wall's interpretation of Oswald Spengler's cycles in The Decline of the West were correct, this is the ninth and final Kondratieff long wave in the fall season of western civilization. He believed that the winter of western civilization lies directly ahead. Like the White Witch in the Chronicles of Narnia who cast a spell and created an unending winter in the land beyond the wardrobe, the central bankers are in danger of creating a perpetual long wave winter season. Unfortunately, instead of a new long wave spring, with too much QE, a perpetual winter and a new dark age is possible.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Tags: GLD, CRB, CPI
    Jan 28 2:38 PM | Link | 2 Comments
  • Morphic Fields and Market Cycles

    Dan Brown popularized the Institute of Noetic Sciences (IONS) in the novel The Lost Symbol. IONS is in fact a real research organization. The mission of IONS includes the rather unique goal of supporting individual and collective transformation through consciousness research, with an end toward maximizing human potential. Granted, this is a rather lofty and somewhat subjective sounding agenda and you are likely skeptical of the application of research going on at IONS to the real world.

    However, before you dismiss IONS’ mission as too nebulous and esoteric to apply to real life, you should be aware that some of the ideas they espouse might actually have an application to global financial market cycles and are worth considering. Some of the research at IONS may have implications for decision making for investors and traders. In particular, their research in the area of morphic fields may be relevant to identifying and understanding social behavior and the lows and highs of financial market cycles.

    The idea of morphic fields is largely the product of the research of Rupert Sheldrake, a Cambridge trained Ph.D. biochemist that has discovered self-organizing properties in the field of biochemistry that coordinate, organize and provide the constituent parts to a biochemical process or system. He calls these self-organizing properties morphic fields. These fields are present at each level up the food chain so to speak at the level of cells, tissues, organs and organisms.

    After recognizing that morphic fields shape development of organisms, Sheldrake makes a quantum leap and suggests that morphic fields may govern the self-organizing properties of social groups. Sheldrake proposes that at each level a morphic field essentially provides for the instructions for the development and characteristics of a new level or “whole” in a system. What he has concluded is that this morphic field process works all the way up to the level of society, cultures and therefore invariably the structure of the constituent parts of a civilization.

    Regarding quantum leaps, in his article entitled Fields of Form, Sheldrake notes that a few physicists are intrigued with the possible connection between morphic fields and quantum fields, including John Bell and David Bohm. Quantum physicists Amit Goswami and Han-Peter Durr have also explored the connections between quantum fields and morphic fields. In the future, connections between quantum fields and morphic fields may be established, but remains unclear at present.

    Market analyst PQ Wall what ahead of the crowd when he proposed that market cycles are essentially both quantum fields and morphic fields. His proposition remains to be fully confirmed, but the prospects for this perspective providing clues as to where markets are headed next are promising to date.

    Investors and traders will recognize that global market cycles exhibit self-organizing properties and characteristics that may indicate they are exhibiting morphic field activity. The concept of morphic fields directing the development of self-organizing systems has serious implications for anyone that wants to understand what drives trends in the economy and the flows of funds in global markets, producing bull markets and bear markets in stocks, interest rates and bond prices.

    Global financial markets clearly play a role in the self-organizing system known as the global economy. You can view financial markets as a sub-system in the global system of international political economy. They are a rather important sub-system. When they are not operating effectively and efficiently, or when fiscal and monetary intervention short-circuits and distorts their self-organizing properties, it can produce major problems and dislocations for society. Civilization itself can even be destabilized. If the feedback loops and messaging signals the system depends on for stability are not reliable, the system can break down.

    Russian economist Nikolai Kondratieff may have discovered, when he saw a clear pattern in interest rates, prices and production in market economies, is a self-organizing whole or morphic field in the international system. Kondratieff appears to have discovered the essential cycle produced by morphic fields of human action in the international political economy.

    Long Wave 1949-2013

    The long wave represents a self-organizing system that is the result of morphic fields in human action. Kondratieff appears to have recognized this when he wrote, “The long wave, if existent at all, are a very important and essential factor in economic development, a factor the effects of which can be found in all the principal fields of social and economic life.”

    Below are a few of Kondratieff’s original research charts. When Kondratieff observed these charts he saw something akin to morphic fields of global economic development in prices, production and interest rates. There are those that think the great cycle or morphic field was a figment of Kondratieff’s imagination. Look at Kondratieff’s charts. You be the judge. You have powers of observation, reason and deduction. Either the long wave is real or not. If it is real, it does exhibit what appears to be a field of global human activity that by definition involves human consciousness, so maybe IONS is onto something that was first discovered by Kondratieff in economics and markets.

     

    Chart 2.3 Kondratieff

    Take a look at the chart below of U.S. interest rates. It sure looks like a repeat from 1949-2012 of the long wave trends in interest rates Kondratieff recognized in his research. It also suggests that the greatest bull market in bond prices may be close to being over sometime from 2012 into 2013.

    US Long Bond Rates

    PQ Wall was a student of Kondratieff long waves and is the first person to apply Sheldrake’s work on morphic fields to market cycle analysis. What Wall proposed was that the economic long wave is a whole level in terms of social activity in a morphic field. Far more important for investors and traders, Wall proposed that a long wave is made up of parts, which are in turn lower-level wholes themselves. PQ Wall essentially proposed the basic math of the morphic fields of global financial markets.

    The market cycle math is a bit more complex than this, but Wall proposed that if you divide a Kondratieff long wave by 144 it produces the next level of whole in global market activity. These approximate 20-week cycles are the next level of whole below a long wave. In honor of PQ, I rechristened these cycles as Wall cycles in my 1995 book, The K Wave. Wall discovered that a long wave divided by 144 is the next “whole” morphic field that shapes social behavior and therefore is critical to understanding market cycles and their development.

    The Wall cycle is made up of constituent parts just like the long wave. Where the long wave has seasons, the Wall cycle has Quarter Wall cycles. The 16 business cycles in the long wave show up as the 8.8-Day cycles in the Wall cycle. What PQ Wall proposed is that the next whole level of morphic field below the global long wave gives the Wall cycle its characteristic properties and coordinates the constituent parts of the cycle. That is why the Wall cycle, just like the long wave, shows up in almost any global market chart. Sometimes they are distorted by fiscal and monetary intervention, but they are always there, lurking right under the surface of human action, morphing from oversold lows to overbought highs and back again, a form of human action and financial market clockwork.

    The chart below demonstrates the Swiss Market index in Wall cycle #5 of the current business cycle. The chart used Market Cycle Dynamics software to run an exact ideal 141.9-day Wall cycle from the March 2011 lows and also the Quarter Wall cycles of 35.4-days inside the Wall cycle. The Wall cycle does not always unfold in this close to ideal manner. They sometimes run long or short, but Wall proposed that there are 144 in a global economic long wave cycle. The evidence is mounting that he is correct. A Wall cycle is essentially a miniature long wave and the next level of whole unit in the self-organizing international political economy, and therefore all of human society.

    Swiss Market

    Below is the current Wall cycle chart of the S&P 500. It is demonstrating in price, time and sentiment what appears to be the current next level whole of the 144 morphic fields that make up the current unfolding long wave. Like the Swiss SMI, the S&P 500 Wall cycle low in August was likely the bottom of Wall #5 and the start of Wall #6. The October low is the alternate start date for Wall #6, but the August lows are favorable in many respects. Either way, a Wall #6 cycle low is due shortly. The current Wall cycle is likely running long due to large amounts of deficit fiscal spending and central bank monetary intervention that is attempting to stop the cycles. The intervention only makes the cycles run longer. The morphic fields of market cycles appear to run long and short by degrees of freedom in Fibonacci ratios in time, similar to the forces exhibited by Fibonacci ratios in price action.

    Wall Cycle

    It is becoming evident that what happens in Shanghai can have a direct impact on what happens in New York. The threat of a Greek default sends shockwaves through the entire system of the international political economy. When the U.S. Federal Reserve launches QE2 or the ECB injects $645 billion into the financial system, it does have an impact on the cycles, but through all these interventions the self-organizing long wave and its 144 Wall cycles are ebbing and flowing. They may well reflect morphic fields that organize the development of society and produce order out of what often appears to be the chaos of human action.

    If the economic long wave is a large morphic field and cycle and very few will ever experience more that one cycle in their lifetime. It can provide some general guidance to investors and traders on the big trends. The Wall cycle on the other hand ebbs and flows with highs and lows several times a year. Each time the Wall cycle hits the cycle lows it provides an opportunity to buy and when it hits a high, it provides an opportunity to sell.

    Much remains to be learned about the morphic fields that play a role in guiding and directing the international political economy. If they are guiding the global forces being unleashed in the current Kondratieff long wave winter season, then the crisis now sweeping global markets provides a unique opportunity to study these morphic fields of human action.

    Market cycles, from the long wave down to the Wall cycle provide a market cycle driven formula timing plan that identifies opportunities to buy and to sell using price, time and sentiment. Combining Fibonacci in price, market cycles in time, and stochastics for sentiment you can track the morphic field that produce and guide the Wall cycle. The goal at LongWaveDynamics.com is to track the cycles for investors and traders, in order to provide relevant cycle input to help them maximize their potential.

    PQ Wall may have been correct, and morphic fields do in fact produce market cycles. The Institute of Noetic Sciences’ goal of maximizing our human potential is possible, at least in the area of investing and trading, by applying morphic fields to tracking market cycles. Get prepared, because the current long wave morphic field requires a major global readjustment to correct the cycle excesses in debt, production and prices that is now underway. In addition, the next level of long wave morphic field whole in the current Wall cycle is setting up to deliver an educational fieldtrip for investors and traders.



    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
    Jan 17 9:02 AM | Link | Comment!
Full index of posts »
Latest Followers

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.