Sarah Palin is the Maria Callas of the Republican Party by David Corna

Sarah Palin is the Maria Callas of the Republican Party.  Maria Callas was an American born Greek Soprano who became the greatest bel canto soprano of the 20^th century.  Maria Callas performed in the Royal Opera House at Covent Garden in London, England. Maria sang Italian, German and French arias before an English speaking audience that did not really care to understand either the scenario or words of the libretto that she sang.  Anyone who is familiar with opera scenarios knows that they are all silly stories that do not make much sense.  Maria Callas’ audience cared only for the bel canto sounds that she sang.  This was her talent and the art she performed. 

Maria Callas was paramour to Aristotle Onassis, a Greek shipping magnate and by extension, a multimillionaire.  Aristotle could not understand why Maria wanted to go off to London and perform for such a pittance when he provided her all the luxuries that money could buy.  Maria was passionate about her art and Aristotle did not understand this. 

So what does Sarah Palin have to do with Maria Callas?  Let me explain.  Sarah is misunderstood in the same way that Maria was by Aristotle.  It is only Sarah Palin’s audience that recognizes her great talent.  All those Aristotles out there should quit trying to figure out what she is saying, because the words and the scenario do not matter.  She is a great American who is passionate about her art and plies her craft when she performs in front of a live audience.   We should take a moment to listen in order to appreciate her rhetoric because talents like Sarah Palin come along only once in a generation.  Sarah weaves her logos, pathos and ethos into an elegant tapestry and then undoes her weaving only to begin weaving the tapestry again before another enchanted audience.  There is no need neither to understand the words nor even consider the scenario of which she is speaking for these are not important.  Just as we appreciated Maria Callas at a live concert as a member of her audience, we can only appreciate Sarah Palin as she holds a live audience in the palm of her hand.

  

Why are all the Aristotles criticizing Sarah Palin for quitting her job as Governor of Alaska?  It is not because of the pittance she was paid as governor that she has moved on.org.  She has discovered her own Covent Garden and is now embarked on a world speaking tour in her mommy jeans with her flirtatious librarian demeanor, sans her beautifully cobbled Italian stilettos, and a license to call Vice-president Biden,  “Joe”.  Sarah has taken to heart the advice Henry David Thorough, (not the comic strip writer), and gone “in the direction of her dreams” in order to practice her art.  We Americans are drawn to her irreverence just like the substance and facts of a Dan Brown novel.  You can forget about her words because it is not necessary that they have any meaning and we can disregard any scenario discerned from her speeches because they are irrelevant.  Sarah Palin has utilized her own ethos to create a new logos in order to elicit a pathos in American politics that has been long absent.

George Rahal Has Returned to His Blog

Just as Cincinnatus returned from his small farm in exile and became Dictator of Rome, thus, George Rahal has returned to his blog as chief technical analyst and trader.  Well done George!
George presents a very bullish theses on his blog, http://g-rahal.blogspot.com/ . His argument is so strong that I was discouraged to enter the market with a short position when my T's expired.  The decision was well warranted and saved me some money.  I am currently updating my charts in order to discover and support George's bullish theses.

Taking Profits Because I Can

I an currently long DIA @ 101.27 from last Friday and Long BGU @ 48.31 from Tuesday just after the opening.  I am also short BGZ @ 17.97 from Tuesday morning and this is essentially a long position.  I am going to take my profits because I have a nice one.  The current T does not begin to expire until some time Friday but I am taking my profits anyway.  I executed the following orders at these prices:
Sold DIA @103.22  + 1.95
Sold BGU @ 50.21 + 1.90
Bot to cover BGZ @ 17.20 + .71

The Larger Perspective of the T

The above chart illustrates the Larger T's that are in play and the Olive Green T is the same T that I illustrated in my last post on my "Not quite ready to lay out a short" post.  From a longer perspective you can see the larger T developing over the smaller olive T by comparing the two charts.  The above chart is as of the close Thursday 2/11/10 and shows the olive green T from the chart in my previous post.  The chart below is an updated chart of the above.

The chart above clearly shows the formation of a new large T that is the primary force in the current uptrend.  This chart is from the close on Friday 2/12/10.   I was tempted to take out a short position at the expiration of the smaller T but I was not convinced we were still in a downtrend and then the larger T came into focus obviation any short play.

The above chart as of the close Friday 2/12/10 is a clear buy signal for the DIA indicating a strong uptrend that will last through Friday 2/19/10 and expire sometime Monday 2/22/10.  I bought the DIA on the close last Friday:  Bot DIA @ 101.27

This is another look at the new T this one indicating a bull move into the late morning of next Monday.  I put on the following long position this morning after the opening:

Bot BGU @ 48.31

Sold Short BGZ @ 17.97  

I never put a market but order in on the opening because prices are manipulated the most at the opening. I usually wait for 15 to 30 minutes and look for a good entry point.  

Not Quite Ready to Lay Out a Short Position

The above chart shows an oscillator that is an augmentation of my basic oscillator.  The oscillator does a nice job at illustrating the cash build up phase.  The current chart shows that we have some more time until the current T expires.  At that time I will look to execute my short position.

Just Closed Out my Long Positions

Thanks to a new oscillator that George Rahal brought to my attention, I held on to my positions until just a few moments ago at 1.15 today 2/10/10.  I closed out my long position at the following prices:

Sold DIA @ 100.80  +.43
Sold BGU @ 46.40  + .26
Bot to Cover BGZ @ 18.69  + .13

Rick Santelli and all the other "God Guns and Guts made America Great Conservatives"

Today Ben Bernanke announced that the Federal Reserve would begin to pay interest on deposits held at the Federal Reserve.  This will essentially remove cash from the banking system and reduce the money supply.  The result of this announcement sent the market averages in a downward spiral.  This is why Rick Santelli and his comrades on the floor of the futures exchange hate government intervention.  When futures traders are on to a trend, they want to profit from that trend no matter what the effect of that trend is on everyone else in the country.  They would like to stay short throughout the total collapse of the entire economy and condemn any government intervention as the path to Perdition.  I have always called these traders "God, Guns and Guts Made America Great Conservative Republicans" now they started calling them selves the "Tea Party"
The reality is that the last T I drew was going to end sometime this afternoon 2/10/10 anyway so Mr. Bernanke just accelerated the end of that T and in doing so has saved the Republic. I am going to close out my long position and go short between now and the close.

DIA has formed a New Center Post and is a Buy

These are charts of the DIA as of 9:40 this morning 2/9/10 at the opening.  A new center post was formed at Friday's close.  The right side of the T is the time of exceptional performance and time to get long.  The different oscillators all indicate an extremely oversold condition during the trading session on Friday.  The beginning of the cash build up period began about 2:00 on 2/2/10 and the center post occurred around 2:00 on 2/5/10.  This indicates three days of up market on the right side of the T.

This T will not expire until tomorrow afternoon after 2:00.


Just after the opening this morning I executed the following orders:

Bot DIA @ 100.37
Bot BGU @ 46.14
Sold Short BGZ @ 18.82

I Should Have Pulled the Trigger Yesterday!!

These charts of XLF are as of the close Monday February 8, 2010.  The horizontal lines on my charts are drawn at approximately one (1) standard deviation of the oscillator that is drawn on the chart.  The charts illustrated here show an extreme movement of the various oscillators to several standard deviations below the Zero line that is essentially the mean.  Many times you will see a lower low in the price while the oscillator will form a higher low.  This divergence is very bullish.  I almost covered my short and went long yesterday, Monday, near the close, however, I could not pull the trigger.  Today's pre-opening futures market action convinced me that we have formed a new center post from which we can trade to the long side of the market.  At the opening this morning I covered my short position in the XLF and went long.

I executed orders at the following prices:

Bought to cover FAS @ 64.30 + 8.01
Sold Long FAZ @ 20.95  +  1.88

Here is a chart depicting the last three (3) T's formed in the XLF.  You will note how the stock sells off after the T has expired.  This has become a very good short sell signal.

I went long the DIA on the opening and will publish those charts along with the price executions.

XLF Revisited

These charts of the XLF as of 3:00 PM Wednesday February 3, 2010 indicate an expiring T from the standpoint of three different oscillators.  The financials seem to always lead the market in the general direction of all averages.  Since the most profitable strategy has been to short the average at the time of the expiring T I executed the following orders;

Sold Short FAS @ 72.31

Bot FAZ @ 19.07