Monday, April 13, 2009

DXY could create a potent bullish impulse leg with a relatively short thrust to _____, although there was no technical evidence Sunday night that such a move was imminent. The key to the short-term chart lies in a look-to-the-left peak at

A rally target at exactly _____ is equivalent to the one we've been using for the E-Mini S&P. Leveraging the upside will be catch-as-catch-can for night owls, but officially I'll recommend shorting _____ via an_____ offer, stop _____

The _____ rally target broached here last week looks as compelling as ever, and any minor patterns that turn up on the lesser charts should therefore be used aggressively to leverage what's left of the move. (And so should a pullback to ______, since that is the Hidden Pivot midpoint -- now support -- associated with the target

Gold is wafting ever-so-gently higher Sunday night, but it will still need to push above the modest threshold at _____ flagged here last week in order to cause shorts discomfort

A Wall Street Journal story out over the weekend told how Steve Jobs has continued to run the show while on medical leave. He's due back in late June, but in the meantime we should expect Apple shares to move relentlessly higher -- most immediately to the

Friday's $10 thrust was a short-squeeze truly worthy of the name, since it came on news that the company plans to float a zillion new shares while the gettin's good. We hesitate to predict how high the squeeze will go, especially with index futures evidently under pressure Sunday night. But our hunch is that stocks will get dragged higher by Goldman rather than the other way around. If so, look for the rally to continue to at least

If you thought Geithner, Bernanke & Friends were out of touch with the basic principles of Econ 101 -- i.e., Savings=Investment -- you should listen to what some private economists are saying. Richard Koo, for instance.  He is Nomura's chief economist and therefore about as mainstream as they come. But to hear him speak his mind on how to end the recession is to despair of the possibility that private capital will have a significant role to play in whatever economy emerges from the ruins of the one now dying.    Koo evidently thinks the U.S. has something to learn from Japan's death-like experience with deflation and prolonged recession. However, his advice to U.S. policymakers overlooks the fact that Japan itself has yet to escape the deflationary drag that has constrained the island nation's economy for the last 20 years.  Ignoring this depressing fact, Koo emphasizes instead that Japan managed via heroic fiscal stimulus to keep the country's GDP from falling even as deflation destroyed wealth equivalent to three years' GDP.  Is it possible the economy did not flatline simply because insatiable U.S. consumers kept its export business humming?  If so, it is an explanation that Koo chose not to explore.  Spend It Now!  Here's a link to his speech, which runs about an hour.  The topic, "America's Balance Sheet Recession," is supposed to conjure up something far worse than the usual inventory recession.  It surely is; but we part company with Koo on how to resolve it. He says policymakers have not acted aggressively enough to overcome the lack of private borrowing.  The solution? Get the government spending huge sums right away, says Koo.  The idea is troubling enough, since Government is not likely to put a dime of that money into the kind of cutting edge companies and technologies that