don't let the gold bugs bite

Failure of the Facebook IPO confirms a change in the mood of  the market. In an uncertain market FB will have to have stellar results, not just prospects. Yesterday's session saw favorable housing data trumped by EU breakup fears. Recent events, by all appearances, marks the end of dot.com social networking expansion for this mania moment. Cash is flooding the dollar and after that it will be soon time for gold bugs to bite.

buying stories you are sold or buying shares you bought

Price is everything. Everything is not the only thing but prices are everything and the only story. For politicians words are friends and numbers are enemies. For speculators risking their own money, numbers are friends and words are enemies. Why? Well the truth cannot be told by those who know. Why? Because the ability to predict the future is a fundamental component in measuring intelligence. Why? Because why that's why, because asking why is, as in logic, a fallacy begging the answer.

charts tell the truth

Assumption here is that all stock watch lists should be in the format of charts and that future prices can be predicted from the patterns prices leave behind. As Danny used to say, I follow the footprints of prices in the snow.