kaltbaum email

Greetings from Olympia Greece…now heading back to Venice to board a flight to Paris.

 

They did it again yesterday…came out with rumor in last hour…to save the day…but as I write this, futures are up huge as EUROPE IS SAVED FOR THE 400TH TIME. I will not go into the news because nothing has really changed except those who have loaned realize they must continue to save as they are owed tons…that will never be paid back.

 

Regardless, a lot of technical damage done even though market reversed hard. I will know a lot more after today’s gap. Keep in mind, we are at end of quarter.

 

Before today’s gap:

 

A lot of leaders were rolling over.

 

UA done.

 

SWI breaks below support.

 

All the discount/dollar stores topping.

 

MNST breaks the 50.

 

CMG crashes.

 

And just a lot of tops.

 

Regardless of news, we pay attention to the reactions…but you must know that with the constant interference and manipulation on a daily basis, it is hard to get a foothold…so continue to play lightly…continue to have close stops…and protect capital. There is no reason to play into this nonsense. There is certainly a clear loss of leadership…and shorting is too tough. Just look at the last hour and as of this second, the opening gap today.

 

I will be on land this weekend where I will have a more extensive report for you.