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Gregory Mannarino's  Instablog

Gregory Mannarino
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I started my financial career working for the securities and trading arm of the now defunct Bear Stearns before thedot-com bubble. I am an active trader of the capital markets. I have published several books pertaining to finance, global economics, and equity trading; My most recent book is... More
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Money Matters.
  • Redeemable In Lawful Money..Very Interesting.

    Have a look at this, it's a picture of an actual Five Hundred Dollar bill. These were last printed in 1945.

    (click to enlarge)

    Printed directly on this bill it states: "redeemable in lawful money" at the United States Treasury or any Federal Reserve Bank.

    So even during this time when we had a gold standard here in America, THESE PAPER BILLS WERE NOT EVEN CONSIDERED LAWFUL MONEY! But they could be REDEEMED FOR LAWFUL MONEY, (gold or silver).

    Today we literally work for nothing, paper cash, not money, and not backed by anything. Today these are simply pieces of paper with numbers printed on them. The only reason why these "bills" have any purchasing power is because people believe, like in a fairytale, that they are real and will accept them accordingly. Just like they are told to.

    Tags: money, cash, fiat
    Oct 24 8:38 PM | Link | 2 Comments
  • A Look At UNH As A Possible Short.

    Below is a chart of ticker (NYSE:UNH).

    It is clearly in an uptrend channel however, it seems to me that a reversal towards the opposite side is highly likely.

    (click to enlarge)

    The circled area demonstrates what appears as an ascending/rising wedge at the top of the channel trading range. Now nothing with regard to trading is written in stone, but I believe that a move toward the opposite side of this channel is more likely than a breakout above.

    What's your take?

    Disclosure: The author is short UNH.

    Tags: UNH
    Oct 24 5:53 PM | Link | 3 Comments
  • Stocks At Possible Tipping Point RIGHT NOW.

    Let's look at this chart below. It is ticker (NYSEARCA:DIA) SPDR Dow Jones Industrial ETF.

    (click to enlarge)

    A clear pattern is evident (highlighted in red). Let's also look at the Williams %R which is a momentum indicator indicating overbought and oversold conditions.

    Simply, if this market fails to break out above it's current levels a hard sell-off is likely.

    Happy trading.

    Oct 24 1:01 PM | Link | 4 Comments
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