CTMike

Wednesday Outlook: Commodities, Global Markets

paultaut - how did you set up your Bolinger? The services I use all ask for conditions.. Plus, I think the head and shoulders top formation on the daily GLD chart looks a lot stronger than the bottom you mentioned.

David Fry - I worked in the Washington environment for many years and what you see is only the tip of the iceberg. There are a few congressmen that are trying to do the right thing but they get ostracized by the herd. Don't ever believe a single word that comes out of their mouths. You need to set in on just a few backroom conversations and you will quickly learn they are a bunch of phony scoundrels that have a sliver tongue. They will say whatever necessary to 1) discredit the other party, 2) assure reelection 3) enrich themselves, 4) get more power, 5) make themselves "look" like true patriots. What drives their decisions has nothing to do with what the public wants or what is in the best interest of the country - never even considered other than making public statements to make it look like that is what they are doing.
Enough of that. I'm beginning to see the press commentaries fall in line with the administration. It's like they have been told they will be arrested as terrorists is they print anything negative. All of a sudden the light at the end of the tunnel isn't a train (and they are ignoring the whistle) but sunny recovery just like BB is saying. Even world events are falling into line. What happened to N Korea? Has Iran's nuclear program disappeared. Are India and Pakistan best friends. What about all the revenge killings that the Taliban continue to carry out? OH, sorry just like Ben fixing the economy, Hillary has made all world problems better no too. My point is that you are one of the few that hasn't sold your sole. BUT, and this is a huge BUT, we all know perception is reality and if everybody begins to believe things are turning around, is it possible the "real" momentum could begin to turn too? If so, at what point will "you" say ignore the facts and jump on the train? Or will your position continue to be don't jump on the train even though its leaving the station because right around the corner is a cliff and no bridge?