Well, it is holiday season and I am on the road again. After a 7 1/2 drive, I was in no shape to comment on anything especially after the drubbing I took in the market Wednesday. Ugh!
So, rather than talk about cloud charts, which you can yahoo or metacrawl all you want (I refuse to say google, just like I refuse to ask for a kleenex or open the frigidaire) there is something else on my mind.
Something is very wrong in the financial markets. I blogged the other day about stock trading jumping the shark as they actually ran an infomercial with an NFL coach talking about all the technical studies his boss company had - including "moving day averages" (that's a quote). Stock trading is the bubble. So is forex trading. The point is that too many people are doing too many things to try to master the market that the market is going to change the rules of the game.
Stuff is not working the way a free, capitalist market works.
Yes, I know the government is juicing the capital markets. But even without that it does seem that the deck is stacked against regular investors. No, not the little guy who is last to the party. That is and always will be. But even institutions with all their tools seem to be at the mercy of Wall Street financial engineers (or should I say imagineers, a la Disney?).
This market has changed and that is not necessarily bad. What it means is that we must find different tools and if that means a radical overhaul of chart reading, so be it. Breakouts, gaps, moving averages and the likes are not longer cutting it.