well if the market ever decides to retrace.. this must be a perfect setup. We have a just closed below 20 and 30 days Moving avarage. I am looking for 23-38% fibo retracement from June high. Still think we are in a Primary wave 2 up.. Which has more long term room on the upside. 2-3 months. Going back doube long at lower levels,,
looks like its getting ready to either chrash or explode… hitting multiple resistance. almost at 38% fibo retracement of the primary wave 1 down from Oct 2007. We are in Primary wave 2 up.. But when / soon will the Primary wave 3 down start ?? at 1050 or so ??
hmm your call… looks like a boy or girl to me.. Could go all the way to 38% fibo.. but would like to see a retracement first… come on give me 5-10% down from here. Before we go all the way up…
READING LADY (2006)
Oil on canvas, 190 x 140 cm
| Karla Black / Christoph Ruckhäberle… <!––>May 16, 2009 until August 16, 2009 <!––> |
 |
|
The migros museum für gegenwartskunst is presenting the work of Scottish artist Karla Black (born 1972 in Alexandria, lives and works in Glasgow) in her first solo exhibition in Switzerland. Plaster, chalk dust and Vaseline, or substances such as face powder, lipstick and nail varnish make up Black’s raw materials. The ephemeral works – whether transparent cellophane arranged sculpturally to hang from the ceiling, or fragile works of gossamer-fine powder sprinkled onto the floor – present references to the Minimal Art and Conceptual Art of the 1960s and 1970s. Black simultaneously extends the classical notion of sculpture through a process-oriented, performative handling of cultural connotations and untypical materials. Not only does she create an oppositional model to the brute effect of Minimal Art, but through the use of unstable and simple substances she ties into the history of antiform, begun for instance by Robert Morris in his use of felt, or Eva Hesse in her deployment of latex. The migros museum für gegenwartskunst is presenting the painter Christoph Ruckhäberle (born 1972 in Pfaffenhofen, lives and works in Leipzig) in his first solo exhibition in Switzerland. The visual world of Ruckhäberle, who studied animated film at the California Institute of the Arts before his studies at the Academy of Visual Arts Leipzig, is peopled by odd hard-edged figures, standing in front of coloured rhythmic backgrounds. Colourful drawings of faces recall carved masks, composed from a rich and playful vocabulary of forms. These forms, and the wealth of colours in Ruckhäberle’s works, are broken not only by skewed visual angles or perspectival inconsistencies, but also through the use of expressionist and surreal borrowings. Lately works by Karla Black were to be seen amongst others at the Brussels Biennial (2008), in exhibitions such as Strange Solution, Art Now, Tate Britain, London (2008) and Poor Thing, Kunsthalle Basel (2007). Christoph Ruckhäberle’s works have been on display amongst others at Manifesta 7 (2008), and in the Triumph of Painting, Saatchi Collection, London (2006) and Life After Death: New Leipzig Paintings from the Rubell Family Collection, Frye Art Museum, Seattle (2008) exhibitions. The exhibition in the migros museum für gegenwartskunst is curated by Heike Munder. |
could be… but most likely only the first setback of the ride from march lows. The first leg up from march looks like the A of an ABC Move.. Now we might see the B move down to some 829. But we are getting much closer to the end of Primary Wave 2 up.. When this ends… probably arounf 1000-1050 then the large down wave Primary Wave 3 will begin.
Some tech stuff from Tuttle
“Realizing this graph is very busy I’ll bullet the technical points:
On May 7th the Nasdaq has a massive key reversal day (and bearish engulfing) with the largest volume since October of last year
This corresponded to its 200-DMA and the horizontal resistance from the same time period 3-days later the Nasdaq broke the secondary bull market lineThe Nasdaq bounced off the horizontal support with what seemed to be no volume Yesterday the Nasdaq retested the 200-DMA, the horizontal resistance and its latest high and completed another reversal day on increased volume As for now, it has all ingredients to make an imploding bomb. The only thing that would reverse our thinking at this point is if the market, somehow, increased above the horizontal resistance points on massive volume. The probability of that happening is, well, let’s just say… needle in a haystack. The youngest sister (The Russell 2000) is very similar in technical stance were we believe the secondary trend is broken and the index is once again transitioning to a bear market stance.
Many pundits have been clamoring for an end to this latest bull move, including myself. Until now the evidence didn’t justify the claim. The key to completion, in our humble opinion, is when the two eldest sisters (Dow and SPX) break their secondary trend lines. When this occurs it could be like lemmings off a cliff and the next move down could be just as violent as 2008.
Everyone is waiting for something to happen, which hasn’t yet, and the tension is building. When it begins NO ONE wants to be the last man standing. Given the “road-signs” of late, and the overwhelming fundamental evidence point out that not a lot has changed in the economy, we don’t believe this is an “if” it will happen; we believe it’s a “When.””
Primary wave 2 up is still in full force , so not really the time cut it loose.. yet…..
It looks like primary wave 2 up is on track to hit my target of 15. But there is as always no need to get greedy.. this rise has been impulsive, and almost without any real retracement. Thus, when it turns ( it will ) it will do it hard and fast.. So taking some profits off the table at 14 or so.. Makes a lot of sense. If we retrace from here to say 13 or 12 If I am lucky.. I will be adding to longs again on all dips, as i did here… add to longs on all dips
Congrats to all those who had the balls to trade as I wrote the last 2 months…. from 8 or so to 14… hmmmmm damnnn thats a profit…
No darts, no monkeys only pure Elliot Waves
The Tuner Prize 2009 shortlist is out.. have a look..
The shortlist for the 2009 Turner Prize has been announced, and the nominees are: Roger Hiorns, Enrico David, Lucy Skaer, and Richard Wright.
The nominated artists have six months to create work for a group show, which opens in October at Tate Britain, reports the Guardian. The winner, to be determined by a jury, will be announced at a ceremony in December. That artist will receive a £25,000 award; the three finalists each receive £5,000.
The Turner Prize began in 1984 and has established itself as the U.K.’s most prestigious art award. It is given annually to a British artist under the age of 50 in recognition of an outstanding exhibition within the past year.
Continue reading ‘Turner Prize shortlist – 2009 Turner Prize’
March 4… wrote that Wave 2 up was about to start.. Damn that was right.
We hit bottom on the 9th or so. Wave 2 up starts.
Now We added to longs on all dips..
And today.. It might be time to protect some profits. Scalling out.. and buying again all more severe dips.. later next week or so. Adding again around 11 or 10.50..
maybe we should read this and now just the simple facts:
“Let’s talk about what money is. For some people it’s M-1 or M-2, and they worry that the money supply is growing too much. For some people it’s gold; gold is the only real currency. I think those ideas each have their place, and there’s some truths to them, but they focus us on the wrong thing.
It’s a bit misleading to talk about money supply, because what money really is is roughly $2 trillion of cash and then $50 trillion in credit. Because what do the banks do? They take deposits in and then they borrow money to leverage them up. I take my credit card and I spend with it. I borrow against a house. I have an asset that rises, and I borrow against it.
We have two trillion dollars of actual cash propping up $50 trillion in credit. If we all decided to settle and pay off everything, we couldn’t do it because there is not enough cash. There would be massive asset deflation. We, as a nation, are levered 25 to 1, or we were. Now, that $50 trillion is in a real sense the money supply because that is what we are all pretending is real money. I lend you money and you pretend you are going to pay me back. Then you pretend he [pointing at another attendee] is not going to call your debt for cash, and we are all going to keep the system going. Because if we all try to pay each other back at once, we are all collectively — and this is a technical economic term — screwed.
So we keep the system going. Now, where are we today? We are at the Great Deleveraging. We are seeing massive losses and destruction of assets, on a scale that is unprecedented. There was massive destruction of assets during the Great Depression, which caused a lot of problems, and we are seeing the same thing today. We are watching trillions simply being poofed (another technical economics term — which will drive my poor Chinese translator crazy!). We are watching people pay down their credit lines, which is one way of saying the supply of money and credit is shrinking.
This is not just in the US, but all over the world. Because when you start adding European cash-to-credit, and Japanese cash-to-credit, and Indonesian and Chinese cash-to-credit, it becomes multiple tens of trillions, and we are watching a goodly portion of that credit be vaporized. So we — individuals and businesses — are trying to find that $2 trillion in real cash and get some of it to pay down our debts. We are reducing that massive leveraged money supply down to some smaller number. We are hitting the Blue Screen of Death. We don’t know what it is going to reset to, but we have permanently seared the psyche of the American consumer, and it is going to get reset to some lower number, about which I will speculate in a minute.
Now to give you some idea of how important credit was in our recent period of economic growth — and I keep using this slide, but it is an important slide because it shows you what would have happened in the economy without mortgage equity withdrawals. The red lines are what GDP would have been without MEWs. Notice that in 2001 and 2002 we would have had negative GDP for two years, that’s 24 months. It would have been as long as or longer than the current recession. Not quite as deep, because we had the Bush stimulus and Bush tax cuts at the time. The Bush tax cuts were very important in keeping the economy rolling over in 2001 and 2002.”
