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Good evening Ben.
I did three live interviews at the New York Traders
Expo on MSN: One was about the burgeoning muni crisis
and how it was now spreading into insurance
financing--and why Ben [the Fed Chairman] was
twiddling his thumbs while Rome burned...You can
already see the replay of that and what I suggest Ben
do if he really wants to stop this problem [and it is
not hyperinflation...]. The second was on my own
trading techniques and why I have been a successful
trader for over 35 years. But the last was more
interesting: In a session I had just given, a person
from Europe asked e if I thought the Euro would climb
and hold above 1.50 dollars to the Euro. My response:
I see no reason we can't see 3.00. I remember the
Deutsche Mark going from well below 2 to over 3 in a
very short time. Times are worse now.
You ain't seen nothing, folks.
Be well and stay liquid!
Tim Morge
www.marketgeometry.com
--- Ben <profitok@xxxxxxxxxxxxx> wrote:
>
> ----- Original Message -----
> From: newsletter@xxxxxxxxxxxxxxxxxxxxxxxxxxx
> To: profitok@xxxxxxxxxxxxx
> Sent: Thursday, February 28, 2008 9:04 PM
> Subject: Gold, Oil, and the HUI Set Record Highs;
> the Dollar a Record Low Thursday: McHugh's Comments
>
>
> The Dollar dove again Thursday, dropping to 73.72,
> the lowest level ever on a trade weighted basis. At
> the same time, Gold rose to a new all-time high, as
> did the HUI Gold Bugs Index, as did Oil. This is a
> nasty hyperinflation response to current economic
> conditions. Of course M-3 has been hidden from view
> by the Federal Reserve, and Congress has failed to
> demand they start full disclosure again. This is all
> part of the Master Planners game of Artificial
> Economics where they pretend there is no inflation,
> where they pretend there is no recession, where they
> pretend all is well with the world. The power of
> suggestion is their favorite strategy, taking us and
> the markets for fools. This nonsense is why Obama is
> rising. He is the prototypical
> anti-neocon-master-planner. Yes, and if you make
> more than $75,000, get ready to give more of it to
> him if he is the next president, which is looking
> more and more likely every minute.
>
>
>
> The markets discount the future, so clearly the
> expectation from them is that hyperinflation will be
> thrown at this economy to avert depression. The
> problem is, will Fiddling Ben wait until there is a
> depression to hyperinflate, or will he do what
> inevitably must be done before the damage. Back in
> my banking days, we used to say the Fed examiners
> were the ones who went into the battle after it was
> over and shot the wounded. Ben may be using this
> favorite tactic of this probably unconstitutional
> organization in dealing with the current economic
> crisis.
>
>
>
> Bonds rose a point and a half, as fear gripped
> markets again.
>
>
>
> In spite of all this, so far our key economic
> indicators where only mildly dented by Thursday's
> down stock market day. Many buy signals remain. We
> still have not seen a normal rebound from the
> mini-stock market crash that ended on January 22nd.
> Both the weekly Bollinger Bands and the Weekly Full
> Stochastics analysis are still awaiting minimum
> rebound levels, which would be satisfied with 13,000
> in the DJIA. This anomaly continues to argue that
> more upside is coming over the short-run.
>
>
>
> We have now entered the period of time when our next
> phi mate turn date can occur. That would seem to be
> a top for the March 3rd +/- turn, at this point.
> That turn could have occurred yesterday, but more
> likely will occur next week.
>
>
>
> The Industrials continue to battle their 50 day
> moving average. If they can bust decisively through
> that level, we should see another 300 to 400 point
> rally at least. The 200 DMA sits at 13,295 Thursday
> evening, so that is not out of the realm of
> possibility. Should the 50 DMA hold, then this is
> it, and we drop hard. However, we expect prices to
> breakout above the 50 DMA.
>
>
>
>
>
> Best regards,
>
>
>
> Robert McHugh, Ph.D.
>
>
>
>
>
>
>
>
>
> Note:
> If you wish to change your password, you can check
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