Pre-market the futures are down, Europe is down but coming back, Asia finished up but much like the U.S. market - i.e. low noise level.
The Yen is drifting down - I did want to show you however how you can use the RSI(2) on Yen hourly charts above 95 you short, below 5 you go long - how hard is this?
Do you think I should start my own infomercial and sell training on how to play FOREX? Thanks, but no thanks - I know how difficult it really is. Looks like it is setting up a FOREX BOB right now too.
I did want to mention that the Euro has returned to where it was before the announcement (in relation to the buck) but the Cable is still refusing to acknowledge the fact that there wasn't any fire and it didn't have to really rush out of the house with no pants on ... As I said yesterday - the older currencies are sloooow.
But that's not why we're here right now - right now I want to tell you about this amazing stock - it is a story stock with an idea behind it and best of all it is cheeep! - as in bird seed cheap - and I'm talking about, what else, good old CMGI - OMG - it's back!
After the post the other day in which I heaped scorn and ridicule on radio stock touts who aren't named Jimmy Crack Corn Pone and spoke about CMGI in less than glowing terms - I have now seen at least one more article about it and not only that but it is in the top 10 of European acquisitions overnight. What in the name of all that is holy is going on here?
You can't help but notice how it more or less skipped the Bernake-fest and then caught up again yesterday.
Now I'm not saying that this is a good thing or a bad thing - you know how I love these little cheesy pieces of crap with all my heart and soul but I think I have to put a few shares in the account and close my eyes and forget they're there. Who knows maybe it goes back up to 160 again - yeah, right - more than likely it goes back to 1.60 again.