Friday, November 5, 2010

It's the liquidity, stupid

(With no apologies to Clinton campaign strategist James Carville)

It's the massive deficits that are bullish not fibonacci ratios as such babble.
- Larry Williams, trader extraordinaire (and really generous guy)

1 comment:

patrick neid said...

Chicken or the egg. I find it interesting that the market waited very patiently at its April highs, a .618 retrace from the all time highs and coincidentally breaks out with QEII. If the breakout is sustained it projects a test of the all time highs. Not unlike 1976where it will then fail.

Also I would not short change the Repubs taking the House and the enthusiasm some are hoping for akin to 1994.