VoltaireYou mention false breaks of "obvious" support/resistance...

Voltaire

You mention false breaks of "obvious" support/resistance levels and that McLaren argues it is to "get the suckers."

My problem with this kind of logic, if applied to indices, is that it is next to impossible to manipulate the entire index in a way that market-makers and whale investors can with individual stocks. No doubt manipulation of individual stock or commodity prices around obvious support/resistance levels and areas with lots of stops is common - particularly in markets where market-makers play a central role.

It is, however, beyond my belief to think that manipulation of the entire S&P 500, for example, could or would occur around a given support or resistance area for that index. The kind of gargantuan organisation and money required to orchestrate stop-running and waves of selling across 500 major US stocks is getting into fantasy-land - consipacy theory thinking that would have us believe in a global hegemony of Jewish bankers or Masons or whatever.

Of course I could be wrong and the PPT could really exist and they, or someone like them, could think it worthwhile to engaging in this kind of mass financial market manipulation. Pigs might also fly!

Anyway...I have no idea how long the current bull-run will last. I have no ability to pick market timing and don't think anyone else can either. I do though, think that the evidence is compelling that we are in an emerging bull market of sorts and I'm going to act accordingly until the evidence suggests the bull-run is over.

And as for the mass media and their views of the market - a quick read of the Fin Review and Australian over the weekend would have you believe that property is stuffed; that the recession will be long and deep; and, that China will invade Australia on Thusday next week to get their hands on RIO and BHP. All the more reason for me to go long right now imo!

Time now to have a little rest before watching the Bullies pants the Weagles tonight!

Cheers Volt.