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John Lounsbury
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John Lounsbury, Managing Editor and Co-founder of Global Economic Intersection, provides comprehensive financial planning and investment advisory services to a small number of families on a fee only basis. He has a background which includes 34 years with a major international corporation, 25... More
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John B Lounsbury CFP
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Global Economic Intersection
  • A New Channel For Stocks 1 comment
    Feb 28, 2013 4:00 PM | about stocks: SPY

    An interesting graphic at 5 Min. Forecast today:

    So can we put it on auto pilot?

    I'll ask three questions:

    1. So far the rebound from the dip is a lot less robust than the two previous cases. Is this a matter of concern?

    2. What would an Elliot Wave analyst say the pattern is? Is it a-b-c-d so far with a final "e" awaiting for a peak?

    3. And how many people see a half of a head and shoulders pattern emerging?

    There really should be a fourth question:

    How many time have you seen someone mention the potential for a head and shoulder pattern over the years that didn't ever complete?

    Finally, back to auto pilot: A fool and his boat are soon parted on auto pilot.

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

    Themes: bull market Stocks: SPY
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  • SeekingTruth
    , contributor
    Comments (1166) | Send Message
     
    John,
    The market will break one way or the other out of the channel when the Trilateral cartel of Wall Street, The FED, and Washington DC politicians (and of course their backer /handlers) decide they want it to do so.
    The second major reason is some exogenous event that even they can't control.
    The rest is mostly BS.
    28 Feb 2013, 04:37 PM Reply Like
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