Monday, January 25, 2010
And Now in this Corner Politcal Risk!!!
I am starting to wonder what has become of the Good Ole' USA. A risk that no one could have even seen coming was political risk. As Obama care looks to be on shaky ground thanks to a republican win for the state of Massachusetts, the President came out swinging and lashing out at the banking industry and how Wall Street should be ashamed of the profits they make. If I saw the President wearing a green hat and poising with a big fat cigar in his mouth, I could have mistaken him for a cousin or pal of Fidel. Mr. President, grab a clue and realize that it is the government who is mostly creating these bubbles and not Wall Street trading. Sure, Wall Street has had it share of shady and unscrupulous characters, but when it comes to profit and losses, the banks not the brokerages are always the one who get caught lending when it makes no sense. I found it rather humorous that as our President kept pointing the all mighty finger at Wall Street, Wall Street showed it's muscle as well and sold off quick. No matter what part of the street you grew up or come from, the one thing I have always been amazed by Wall Street is it's the place were only one passion lives, the passion of capitalism at it's finest. Let's not forget that Wall Street is sometimes made out to be a monster, but when you really take a close look it is our emotions staring back at us. Greed and Fear rule this market, But like Trust in God, if you have faith and discipline, you will be rewarded for your efforts. Here is a chart of AGN possibly giving us a Head and Shoulder Top to work with. If the market continues to move downward, this stock could succumb to the pressure and reverse it current up trend. Sign up today and start learning the language of the market for a free two weeks at http://www.themoneychart.com/. Remember investors, take all ye can and give nothin' back.