funkymonks - reasons to be cheerful - monday

MORNING TRENDSETTERS.

Thanks Pauley, great job, with the thread crankers.

It's been a tough couple of weeks being offline. Not fun being ransacked by the federal police, computer taken away as evidence of death threats against Canberra pollies (One of Snake Lady's literary hobbies) thrown in the East Perth lock-up with no shoe laces and pulled out on bail by the mistress, Honeydew.

I'm partial to some good news at the moment - so not interested in balanced commentary. You're out today Martis.

Our man of the day. A wise and thoughtful owl.

The extraordinary - FUNKYMONK

'Spot on Red, you nailed it with your observation of the gradually decreasing volumes on each wave that is pulling back into that huge volume zone from early august. It's showing that the selling is drying up and this is exactly what we want to see before a good rally up, big boys won't jump in and take it up until they are sure the supply has dried up and hence we've had low volume on the upmoves so far because they haven't participated. As Toll has pointed out a few times we need to see a cause being built and that takes time and repeated accumulation on the dips. FUNKYMONK

Further enhanced by the astute and incomparable Redbacka - albeit respectful of further movement south.

'There's room for more downward movement, but I think this is a sucker retracement ? drawing in sellers before the next move up. I could be wrong. Any sort of bad news could see significant selling come into this market. But it looks to me like the market is setting up for a big move up on serious hints that the Fed is going to act to stimulate the economy.' REDBACKA

Hope the dads got some nice dad's day pressies and goodluck for the day XJO'ers.