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January 3, 2007
Cara crystal ball aglitter to start 2007, Wed., Jan. 3, 2007, 11:26 AM
A magician should never reveal the tricks he uses. Well, the truth is I am no magician. I'm merely a Wizard.
Who would have thought that four days ago I could alert you to the opening pop to the U.S. stock market?
Well, I told you how in WIR#52, and again this morning. But this morning I also noted that the equity futures were white hot.
Who would have thought that this morning I could laugh at the Foster Brooks comedy routine pulled by gold traders in the early morning hours, and foresee the $10 pop in gold a few minutes later?
For this one I had two things going for me. First, I could see that old Foster had no booze in his glass. I simply looked at the $USD action and saw nothing.
More importantly, I suspect that one of my readers is the Emir of Dubai.
Hahaha.
Who would have thought that also this morning I could foresee the pop in Crystallex?
Well, yesterday, while U.S. markets were closed the KRY in Toronto was trading, and the price was higher. So, I simply did an exchange rate calculation plus a guess that gold was going to rebound from the overnight sell-off, which would take KRY up 3 to 5 pct today.
Maybe I'm right. But I'm not a magician. Yes, I have a crystal ball, but I think Wal-Mart sells them.
Now becoming a Wizard is a different story. That's why I do this blog. After I'm the dearly departed, I'm really hoping that there are little Cara wizards in 140 countries who I turned on to the art and science of trading.
That would be nice.
Posted by Posted by Bill Cara on January 3, 2007 11:26:46 AM | Category: Cara Today in the Market
Discourse
wow...lots of cross-currents today...but is anyone really surprised with the stock market turn of events?
Posted by: glenn-mp ![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
January 3, 2007 2:49 PM [link]
I told "stockman" last week that I did not like gold or energy "right here". I like them a bit later though. Not tellin' what I saw. ;) Must have been the knockoff KMart Crystal Ball workin' again (only works when it is cloudy). He was asking about my IYR and QQQQ shorts. :)
Every dog has his day. That's all it is....
Posted by: MarkM at
January 3, 2007 3:01 PM [link]
Hank makes a phone call in the morning.
$ goes up
AU goes down
Equities rally for a bit
What's up with the trannies? Rallying on reduced tonnage? Weird...
Posted by: agaunv at
January 3, 2007 3:39 PM [link]
Is it me or am i now seeing for the 1st time "Man Financial" logos on some charts but not others?
Posted by: NYUgrad at
January 3, 2007 7:44 PM [link]
Bill,
While everyone is predicting the EOY Dow number, care to shake the crystal ball and estimate where the dow will finish in 07?
Everyone else care to chime in?
Posted by: NYUgrad at
January 3, 2007 7:50 PM [link]
Bill, I sincerely hope that you will not join the ranks of prognosticators. I beseech you to be an anti-prognosticator. I like the honesty of your approach with the WIR's: "this is what I see, therefore, this is what I think that it means". Guessing any of the indices is like throwing chicken bones in the dirt. Somebody is going to be right, and it has less to do with their abilities and more do to with plain dumb luck.
Posted by: Leisa at
January 3, 2007 9:44 PM [link]
So right Leisa, thanks for saying so.
Posted by: Rigdon at
January 3, 2007 10:44 PM [link]
Leisa
Perhaps i should be the one to guess where the indices will be in 07,cause dumb luck got me second place in our yearly NFL pool, came down to the last game of the year, way to go Packers, my prediction
San Diego over New Orleans in the Super Bowl
Posted by: tgifbipo at
January 4, 2007 7:44 AM [link]
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The bottom just fell out of the metals again. I have no crystal ball... but right now I'm thinking a yo-yo might work better. <8)
Posted by: number2son![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
at
January 3, 2007 11:33 AM [link]