"Either the economy is going to get better by itself in the next three months...What assets are going to do well? Stocks are going to do well, bonds won't do so well, gold won't do as well," he said. "Or the economy is not going to pick up in the next three months and the Fed is going to come in with QE.

"Then what's going to do well? Everything, in the near term (though) not bonds...So let's see what I got—I got two different situations: One, the economy gets better by itself, stocks are better, bonds are worse, gold is probably worse. The other situation is the fed comes in with money."..

COMMENTS: Technically Davids supporting statements for the market prior to QE2 came when his favorite stocks , the financials, were supported by the Gann Angle 1x1 line (45 degree line) around Oct 2010. Nice timing Dave ! The up trend was still intact and a great place for the mum's and pop's to follow the leader. However we doubt that $18 on the XLF will be passed with any significance, unless QE3 is announced. But if Mishkin statments are correct then QE3 may not happen (Yeah right, The Fed has a sugar high market, and I bet they sure dont want to see what happens when the sugar is taken away !). 

.."Money is made in tape reading [chart reading] by anticipating what is coming -- not by waiting till it happens and going with the crowd"...

Richard D Wyckoff


.."October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August and February."..

Mark Twain


.."Until an hour before the Devil fell, God thought him beautiful in Heaven"..

Arthur Miller, “The Crucible”
 [Contrarian Investing]





.."There is only one way to kill capitalism - by taxes, taxes, and more taxes"..


Karl Marx

.."If past history was all there was to the game, the richest people would be librarians"..

Warren Buffett