Nov 29, 2010 - Issue #243
Lame Duck 2010
Lame Duck 2010 is keeping everyone in suspense over taxes, amnesty for illegals, 'Don't ask, don't tell', etc.,
CNBC AND Fox News are reporting Reid wants to try to embarrass the Republicans by scheduling his votes. It won't
work. The only embarrassment will be just how lame the Corruptocrats really are.
Markets are holding up amazingly well, all things considered. You can't really conclude much from abbreviated
holiday sessions. The real action will start when traders return from holiday. Investors have until Dec 31st
to decide whether to cash in or not.
Outlook for 2011-2012: War between the Republicans and Obama, Pelosi & Reid. Nothing new there. It will be
especially uncomfortable for Democrat Senators up for re-election in 2012. Look for many to retire.
Countdown till 2012 elections: 101 weeks.
W. D. Gann, a keen market observer, although not an astronomer, nevertheless, was fascinated by the apparent
coincidence of important market 'pivot points' and astronomical dates. Theories exist for estimating time and
price of important market turning points but astronomical occurrences are computed with mathematical certainty.
There is no logical reason why these occurrences should coincide yet, empirically, they have.
The 'Full Moon' and 'New Moon', among others, have been cited. Therefore, one might be well advised to be aware
of their occurrence. Note: The first 5 business days of 2008 concluded on a 'New Moon' and we all know how that
worked out. Coincidence?
12/5 Sunday - New Moon (Observe Friday & Monday market activity).
12/21 Tuesday - Full Moon.
During the next two weeks, the following DJ-30 components report earnings. Keep a sharp eye
out for possible price swings leading up to 'earnings day' (Subject to revision):
Dow score card for the week ending 11/26/10.
DJ-30: 11092.00 -111.55 -1.00%. The Real World (arithmetical) DJ-30: 48.80 -0.54 -1.09%.
UP: 4, Down: 26.
Trends (weekly charts): This is the subjective part.
Rising (Generally Higher Highs/Higher Lows) 1 (-1) 3%:
Consolidating (Generally Lower Highs/Higher Lows) 18 (-6) 60%:
AA, AXP, BA, CVX, DD, DIS, HD, HPQ, IBM, INTC, JPM, -*KO, MCD, MRK, UTX, VZ, WMT, XOM.
Declining (Generally Lower Highs/Lower Lows) 11 (+7) 37%:
-*BAC, CSCO, GE, -*JNJ, -*KFT, -*MMM, -*MSFT, PFE, -*PG, T, -*TRV.
+/- denotes change of direction.
* denotes change of category.
Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!