Grind It Out

I know a lot of you spend a lot of time worrying about a gift to buy me, particularly since no one was able to come through with a C3PO tape dispenser. I will welcome this surprisingly frank Batman water pistol in its stead.


And for your daily Unlikely Juxtaposition of Books, I offer this snapshot I took in my local Borders bookstore. It's not crystal-clear, I realize, but on the right of this New Non Fiction selection is Hillary Clinton's "It Takes a Village" retread, and on the left is a book about sexual pleasure for women. I'm surprised one of these books did not leap to the floor under its own power.


Oh, yeah. Charts. I almost forgot. Today was one of those grind-it-out bore-fests where the markets.......how do the rah-rahs say it?........oh, yes, "digest" their gains. This still falls in line with what I was looking to unfold: specifically, the end of a full retracement before the fall resumes.


The daily candle yields a similar picture. Notice the spinning top today. I've marked another recent spinning top, which happened to be at the very peak of the market.


All the charts that follow tell the same story, so I'll just net it out for you here: (1) plunge after 2/27 (2) consolidation (3) turbocharged retracement to approximately 2/27 levels. My speculation, and where I'm putting my cash at this point, is that the markets will resume their fall. The rest of today's entry will be little more than tickers and graphs. Here's the gold and silver index (XAU):


AHM (part of the sub-prime world):


BAC (a huge bank, but a beautiful chart nonetheless):


Bear Stearns (BSC):


Continental (CAL), mentioned countless times here, having completely a lovely head and shoulders retracement to the neckline.


Brazil iShares (EWZ):


Goldman "nut" Sachs (GS):


PSB, part of the commercial real estate crowd:


Oh, speaking of Hillary......your video of the day. This is what all the fuss is about regarding the repurposed "1984" commercial. Hearing her nasal voice patronizingly talk about "conversation" this and "chat" that is truly nauseating. Anyhoo........enjoy: