Friday, March 02, 2007

They Never Learn

Yahoo Finance (look it up yourself) says
Stocks Fall Modestly As Yen Rises

But, but, but, you sputter, just the other day I saw a chart on this very BLog that showed how the Yen fell on Tuesday morning and the market crashed - now you are saying that the Yen is going up and the market is falling tooooo??? I don't understand - oh wise and powerful financial writer I don't understand how it can be that the Yen falling causes the market to fall and the Yen rising causes the market to fall because ----> (wait for it) ----> those are the only two options open to the Yen.

Isn't it a shame that there is no possible way that we would be invited to go on CNBC and point out how stupid these various economic causality pronouncements are?

We not allowed to do that because we're not special like - Jimmy Crack Corn Pone for example.

I opened a trade about a half hour ago on STRL for a quick day trade. It's been all over the place since. I actually opened it above R1 and I'm hoping for it to hit R2 before it quits.

I'm not sure what is going to happen today - the Q's opened right on the pivot point and when they do that they generally stay right there and that's what they have done for the past hour. They are currently forming a tweezer bottom on the 15's and that might mean that they are going to go up. Wait for confirmation.