Monday, March 2, 2009

DXY looks bound most immediately for a Hidden Pivot rally target at 89.42. While that would not necessarily push gold lower, it could give the...

It's hard to imagine how the futures will be able to avoid falling to the ###.## target shown in the chart, but there is likely...

If the bull is ready to come roaring back, it will be signaled by an uncorrected thrust that exceeds the two peaks labeled in the chart. The higher of them lies at ...

Although we've been hearing that food purveyors have retained some pricing power in these deflationary times, it surely is not reflected in the performance of Kraft shares. Even so, a chart we received from a Hidden Pivot aficionado suggests that bottom-fishing near these levels could be rewarded with a strong bounce. There are three places that look worthy of a try...

Those who voted for Hope and Change should have enough of both by now to last a lifetime. Hope has come via the kind of desperate prayers we might employ to deflect an Earth-bound asteroid. Indeed, so dire do our economic prospects appear at the moment that Hope alone may be the only appropriate response. As for Change, it has arrived in the form of a power-grab by Big Government that would have taken FDR’s breath away. Dare we say that if President Obama’s initiatives had been any bolder, right-wing editorialists would be telling us a coup had occurred? However we choose to describe it, we doubt the Republicans will be able to stop the plan from being enacted into law. Nor do we envy those few anointed GOP “moderates” whose votes could conceivably tip the political axis leftward for a hundred years. We genuinely wonder whether fear of the stimulus bill cuts across party lines. We don’t doubt there are at least a few voters on the left who think fiscal spending is the best way to go, and the more of it the better. But for most of us, we suspect that reality trumps any hope that More Government will somehow put the economy back on track. Big new taxes and even bigger federal outlays are not going to revitalize business or raise the standard of living. More likely is that the tactic will merely keep unemployment from pushing above 1930s levels. In any event, we cannot accept the premise, absurd on its face, that the federal government will find ways to spend trillions of dollars of precious capital more wisely than the small businesses that form the backbone of the U.S. economy and which, most unfortunately, have been heavily disfavored by this legislation. Tax the Entrepreneurs And that