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May 15, 2006
Educating the world via case studies, Mon., May 15, 2006, 3:30 PM
Earlier today I explained the issues of conflicts, and the importance of having self-confidence, which you build slowly by studying markets, not listening to hype on Financial Entertainment TV. I talked about the importance of case studies, to review history to see what was happening in markets to make you go offside at the time.
A year ago this week, I did more than just question what was up with the Bill Griffeth real-estate tour of America, I also challenged CNBC's Jim Cramer.
In the article I did soon after the one May 16 on bubbleconomics, I wrote one entitled "Tonight's headlines yesterday". That's my style.
If you go back to check the charts for May 17, you'll see how stunning in their accuracy were these articles on May 16. I put it in headlines that the markets for BOTH oil and gold would take off the next day. AND, my people did not miss the point that Cramer was screaming (what else!) at his people to throw those stocks away.
Yes, I happened to hit the cycle bottom for oil and gold, which occurred the day I said it would.
That night, May 17, I got so mad at the crapola coming from two CNBC shows after the close, I wrote another article entitled "Kudlow-Cramer all show, no go".
I concluded that article with:
Tonight both Kudlow and Cramer tried to re-write history. That's what people do when they control the media, and that is precisely why independent (and ethical) blogging will win out every time against traditional media.You can only fool the public for so long, and then the jig is up.
I'm not here to make friends; I'm here to do the right thing for society.
Posted by Posted by Bill Cara on May 15, 2006 03:30:35 PM | Category: Cara re: Cara
Discourse
Re: $Gold
Here are the Fibonacci #s off Stockcharts.com
High 730.40
76.4% 684.10
61.8% 655.45
50% 632.30
38.2% 609.15
23.6% 580.50
Low 534.20
Posted by: g034
at
May 15, 2006 5:13 PM [link]
g034
Could you please briefly explain how the fibonacci #'s are used to predict support levels and entry/exit points for yourself
Thanks
Posted by: jamgar1
at
May 15, 2006 7:15 PM [link]
I use $500 as my starting point for FIBs on my gold chart:
Black FIB lines attempt to project next top. Right now we sit between firm resistence and support. A fall through would have $648 as the next stop, IMO.
FWIW..........JB
Posted by: JB
at
May 15, 2006 8:59 PM [link]

I have found that if you do the right thing you will have the right friends - and the right enemies.
Posted by: Fred
at
May 15, 2006 4:29 PM [link]