Sunday, November 4, 2012

Charts 11-2: Romney for teh POTUS

We're still waiting to put in a bottom on a wave 4 move here, before a final rally to new highs.  Tomorrow?  Tuesday?

Either candidate winning could be an excuse for a rally here -- either a continuation of Fed policies with an Obama win, or a business-friendly regime with Romney.

I used to have an apartment about 4 blocks from Obama's house.  I was at 53rd and Drexel; he lives at 51st and Greenwood, across the street from a Reform synagogue.

I've got more in common with Paul Ryan.  He grew up about 20 miles away from me (just over the border in Illinois), we both worked at McDonald's as teens, graduated high school the same year (I'm a year younger).  We both like our Beethoven and our Austrian economics, even dated black girls in college, the works.

I voted Romney/Ryan not because I expect any fixes or solutions to what ails us -- far from it!  I'm a kollapsnik and will continue to be, no matter who holds what office.  We're well past the event horizon on peak debt, and collapse is coming -- and it is deserved.  I simply think Romney would bring a better class of people into the office, compared to the thoroughly corrupts flacks like Eric Holder.  Joe Biden?  You have got to be kidding me.

Also, with Republicans in power, the Press will be immediately hostile to them and may keep them in check from any excessive power grabs on our civil liberties.  The first thing we will see, within weeks, are a torrent of pieces about the economy, the homeless, hunger in America, you know the drill.  But at least the Press won't fawn over the chief executive like it does today.  That's got to count for something.

I'm also curious to see what Ryan's professed Austrianism counts for if he makes it into office.  Austrian economics has a lite version for GOP types who oppose government intervention in the economy, but the real teachings are much more severe.  The entire existing financial sector goes poof in a heartbeat under a real regime of Austrian credit austerity; a lot of conservative pig-men financial types would not appreciate that in the least.

Still looking for our low -- 1396? -- followed by a sharp rally to a final new high.  There's a nice trendline over from the 1370 high that is right about at 1486 on November opex.  That would be a great place for the rally to call it a day.  Techs have topped and led the way down, and would bounce for a partial retrace on this final rally.  What would lead?  Financials?  Homebuilders?  Toll Brothers ... LOL ...


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