I thoroughly disapprove of duels. If a man should challenge me, I would take him kindly and forgivingly by the hand and lead him to a quiet place and kill him.
~ Mark Twain
What? I can't give my Jesse Livermore quotes a day off?
That bull in the sidebar is as stubborn as a ...bull. No one said mechanical systems were easy to get along with. Who in their right mind would keep a QLD trade open now? Right... it's not a 'who', it's a 'what'.
Tomorrow will be a pivotal day as there might be some change of direction for the CMI depending on the direction and 'amplitude' of the market.
The CMI reached a 40% year to date gain last month but has been 'retracing' somewhat ever since. Looking back through CMI history, this is normal but my nurturing habits make me want to loosen a few of it's screws a little. (They may have been overly tightened during the construction phase.) I have vowed (and re-vowed?) not to meddle until the year is over and the final results are in. I'll stand by my last prediction, cover my eyes, and sit on my hands. I'm flexible.
Speaking of predictions, if the Dow really does go to 5000, will the price of an ounce of gold peak there too? That bullion is burning a hole in the old Baobab, if you know what I mean.
Tuesday, May 18, 2010
I Need Five Minutes and a Screwdriver
Labels:
Market Wrap-Up