Planet YelnickCommentary on politics, technology and stock markets guided by Elliott Wave principlesBubbles and the Line of No Return- April 20, 2008 About every line in the sand has been washed away with the recent rally - EventHorizon's Dow12528, the recent Feb highs, the hedging of Hochberg (he still expects a decline to start shortly), Dow Theory (Friday's close above 12,743 got us back to a buy signal so quickly), the Google surprise, etc. etc. A close above SP1400, and then a run above Neely's final line of SP1475, and game over. So, expect a pullback next week! How can the Fed survive the last decade Greenspan bails out LTCM in 1997,..http://yelnick.typepad.com/yelnick/2008/04/bubbles-and-the.html Googling That Line of No Return- April 17, 2008 No surprise, Neely's River sees more meandering, not a sharp decline; and Hochberg's STU sees us in a final C of a double abc. But they both remain bearish, just not yet. Dollar may be in its final thrust down, but Euro seems to have a bit more updownup to go. Sit back and see what Google announces. Their click rate has softened, and this may mean they are not recession-proof; but Google has been saying they have been increasing quality of clicks, and in a recession the ad budgets should tend...http://yelnick.typepad.com/yelnick/2008/04/googling-that-l.html |