The best breaks to find are usually those into all time new highs, as
there is no so called 'overhead resistance' on the break. Even better
if there is a recognizable pattern involved. See mav. I believe it is
worth while to spend an hour or so a week scrolling thru your charts to
see if you can find one or two such patterns. There are usually a few a
month. But if you miss them, then there is always the new highs list.
Keep in mind how the chart looks before the break, as this is what you
are scrolling for, refer 'mav prior to break' chart. I am in it, just
so you know my interest, let us see what happens. All stocks trending
up had to make a new all time high at some stage in the past.
To matters more economic:
The only ever mention in US or European papers about Aust this year that
I have seen so far, reported April 8 in the Herald Tribune, as follows:
"A candidate for higher office in Australia, especially one hoping to be
prime minister, is rarely taken seriously until the home-born
international media magnate Rupert Murdoch shows interest..."
It was Lachlan that met him of course, at the Murdoch ranch. Our
current PM visited his boss George at the White house just last week,
and had the Australian chief diplomat organize a party later in the
evening for just a few select guests, chief among them Rupert and also
the CIA chief Tenet who had just that day resigned. Good to see the
Newscorp chief busy protecting the value of his govt granted licenses
for shareholders, (and keeping up to date with the latest intelligence),
and teaching his son the ropes in the process.
The British fire union - 55000 members - has just cut its ties to the UK
Labor party after an 85 year alliance. This is something you see in
the second half of the property cycle - labor gets squeezed on two
fronts simultaneously now, rising rents and living costs from higher
land price, and continuing efforts by business to cut its wages
expense. More to come of this in the next three to four years.
So both Bush and Kerry are "Bonesman" - would you believe it - see the
book Secrets of the Tomb, by Alexandra Robbins for more on that one.
The US army has a bullet shortage, and has asked private contractors to
help out producing more, up to 500 million more each year for the next
five years. Financial Times, May 27. "We're using so much ammunition
in Iraq there isn't enough capacity around" said one industry analyst.
Military spending adds to the expansion of credit, and with low interest
rates... several years left in the cycle yet.
Lakshmi Mittal, Indian-born steel billionaire just paid 70 million
pounds for his London pad - now the world's most expensive house. When
this happens, all owners of property immediately raise their
expectations of what surrounding property is worth - again confirms the
cycle has a few years to go yet. Property will stop rising - at least
the record prices paid, about two years prior to the panic historically
To matters more philosophical:
France is going to great lengths to ensure no repeat of so many deaths
due to the hot weather of last summer - advertising the location of cool
church buildings, keeping plenty of water available etc etc - which
confirms of course that it will be a cold summer - as we are all
preparing for a hot one.
Did the earth move for ya Nancy ? (Simply Red, about the Reagan years)
At least they made us laugh, if the situations were not so serious, it'd
be really funny:
Nancy was known to cancel or reschedule her husband's appointments if
the stars were not aligned properly - well i can't have a go at that one
can I ? When journo's once asked her opinions on red China, she said
"never on a yellow tablecloth."
And this one;
far worse in Gann's day, which is why he wrote cryptically on occasion
Another site, interesting journalism, and well worth a good look
So Mr Chalabi, that old bank robber, was caught handing over secrets to
the Ayatollahs. Said one wag here, perhaps he was telling them the US
would be easy to conquer and that the Iranians would be greeted as
The EU here is trying to get its "savings tax" up and running soon.
Luxembourg does not tax the interest earned on bank accounts, so, you
guessed it, most richer citizens in the other EU countries have a
Luxembourg bank account, though it is illegal for them to do that.
Governments now want the interest declared, hence the new tax, but
enforcement is reliant on the Lux and Swiss govts (the swiss are not in
the EU) signing up to the new rules, which they look set to do.
Luxembourg banks have however begun advising clients, it is reported, on
the loopholes available to avoid the new tax...
MAV - PDF
MAV, prior to break - PDF